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New Visa Card - Credit card ? submitted by Rebiwar in Money

Hello all,

Can anyone help me with the below issue :

I want a credit card and I've found the one in the below link but I didn't understand very much the one for cash withdraws interest. Can anyone help me with this, please ?

barclaycard.de/?page=new-v...

The attached file is all the information about the card.

Thank you very much,
Rebiwar

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by Danny

Hello Rebiwar,

According to Barclay you do not have to pay any cash withdraw interest rates at any atm that accepts VISA.
For cash withdraw outside the Euro-Zone you have to 1,99% fee.
Do you have any other questions?

Best regards
Danny

This answer has been edited
2 comments
Hi Danny your answer is really concrete and to the point. Can you tell me about Geburenfrei MasterCard Gold? If I take money from ATM in Germany, will I have have to pay any fee? I have this card and asked them but didn't understand well. Best wishes for you, Moni
MoniLink
Hi Moni - as far as I can see you don't have to pay any fees if you take money from an ATM with your Mastercard Gold. It doesn't matter if it is an ATM in Germany or another country. Best, Thorgen
Thor (Wefugees)
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by Paolo (Wefugees)

Hi @rebiwar,

Thanks for your question.
Since we're talking about credit cards I would like to point out a few useful facts and tips about them for everybody in the community to be sure what we're talking about.

Having the ability to borrow money when you need it gives you flexibility. But borrowing too much money and being unable to pay it back is a serious problem. In fact, the fastest growing group declaring bankruptcy is age twenty to twenty-four. It’s important to use credit responsibly and avoid having too much debt. If you understand how credit works and use it wisely, it can help you to reach your goals.

The benefits of having credit are:
- The option of buying something today and paying the money back over time, rather than having to wait
- The flexibility to act on major purchases and life opportunities that may require more money than you have on hand right now, like buying a computer, or borrowing for college
- Easier to rent an apartment and to get service from local utility companies
- Easier to buy what you want, when you want it

The risks of having credit are:
- Overdoing it; borrowing more than you can afford to repay
- If you don’t make your payments on time, you’ll damage your credit record
- Losing money on late fees
- Having to pay additional interest
- Difficulty getting loans or credit in the future

How much debt can you repay?General guideline #1:
Never borrow more than 20% of your yearly net income.

General guideline #2:
Keep your credit card debt low enough so that your required payments are no more than 10% of your monthly income.

Perhaps people might be interested in having a debit card instead: Whilst Credit cards run up an amount of money that you will owe in the future, a balance that you will be required to pay back at a later date. A debit card purchases deduct money from your current account - from funds that you already have available. So you're only spending the money that you already have earned instead of borrowing it from the bank.

In order to exploit these tools properly remember to always keep an eye on your accounts. I hope this infomation is going to end up being useful.

Best,
Paolo

This answer has been edited
6 comments
Hello @Danny and @Paolo
Rebiwar
@Paolo
Rebiwar
Hello @Danny and @Paolo Thank you for the information above, I know the risks of the credit card but sometimes one is in need for a small amount of money and I my question here is: Is there any good banks that provide a cheap credit card and I can apply for that ?I think the above one " barclaycard.de " was good for me but the problem that I didn't understand what was written in the attached file and the amount of interest especially the below : Sollzins bei Teilzahlung (veränderlich) 16,99 % Effektiver Jahreszins 18,38 % Bsp. Gesamtbetrag (Nettodarlehensbetrag + Zinsen) € 1.641,60 Berechnung aufgrund der gesetzl. Annahme gem. Anlage zu § 6 Preisangabenverordnung von € 1.500,- Nettodarlehensbetrag, sofortiger Inanspruchnahme und Tilgung in 12 gleichen Raten. Berechnung auf Basis der o. g. Sollzinsen Thank you again,
Rebiwar
By the way, I could make line spaces !!! I don't know how, cause I hit both "Enter key and Shift key with Enter " but it is not making line space but rather post it directly !?
Rebiwar
Hello @Rebiwar, I hope you understand, that I can not guarantee to translate all details for the terms and conditions of a certain credit card. The paragraph you mentioned seems to relate to the high interest rates you have to pay for borrowing money by credit card and paying it back within one year in 12 equal rates. For borrowing 1.500€ you will have to pay back 1641,60€ in the example that is given here. I found one page in English which seems to give a fairly neutral comparison between German credit card possibilities. Please check this link: deutscheskonto.org/en/cred... BTW: I have the same problem with line space you have. Please help me if you should find a solution :-)
Danny
Hi @danny and @rebowar: the problem with the line spacing in the comment box is common to everybody for the moment. we'll try to keep that in mind and see what we can do about it when we'll be able to update the software the platform runs. Thanks for doing your best at overcoming this little issue until then. Best, Paolo
Paolo (Wefugees)
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