In Germany, you often will come across the Gebührenfrei Mastercard credit card, also known as Advanzia Mastercard Gold. This credit card is a perfect solution for most people in Germany, and it’s absolutely free. Moreover, among the free credit cards, Advanzia is one of the best on the market.
A credit card is a great tool, whether traveling abroad or shopping online. You can use a credit card to rent a car or as a security deposit. Here is our quick review of a credit card Advanzia Mastercard Gold (Gebührenfrei) and the most important things you need to know before ordering this card.
About Advanzia Bank
Advanzia is a European Digital Bank founded in the year 2005 in Luxembourg. Despite being a foreign company, up to 88% of its customers live in Germany (out of 1.2 million users).
Besides Germany, residents of France, Austria, Luxembourg, Italy, and Spain can get an Advanzia Mastercard Gold credit card at no cost.
Highlights of Advanzia Mastercard Gold credit card:
- No annual fee
- No fees for use abroad
- Credit limit starting up to €23,000
- 7 weeks interest-free term for payments
Pros and cons of Advanzia Mastercard Gold
|No monthly or annual fees||Interest rates can be high|
|No fees for payments in foreign currency – worldwide free payments||Low initial credit limit|
|Free cash withdrawals||19.44% annual interest rate on cash withdrawals|
|High acceptance worldwide||SCHUFA check|
|Easy application process (no PostIdent required)|
|Available for self-employed, students, pensioners, and unemployed|
|Approval with no credit history|
|No checking account is necessary|
|Interest-free payment period of up to 7 weeks but applies only to card payments, not cash withdrawals.|
|No shipping fee|
- Mastercard credit card
- Travel insurance included
- Contactless payments
- Apple Pay & Google Pay
- Zero interest rate for up to 7 weeks
- 24/7 customer service
- User-friendly mobile app
How much credit limit will you get with Advanzia Mastercard Gold:
|On issue||€300 – €2,000|
|After 3 months||€3,000|
|After 8 months||€5,000|
|Long-term customer||€10,000 – €20,000|
|Highest credit limit||€23,000|
Payments methods for Advanzia credit card
To pay the borrowed money back, you will need to deposit money to the Advanzia card. For this, you can make a transfer from your regular bank account to your credit card.
You will receive the IBAN number to complete this process. SEPA transfers via IBAN are free of charge in Germany and most European countries.
You will receive the invoice by email on the third day of the month; it’s due before the 20th of the month. That said, you won’t get an invoice if you haven’t used the card.
You can choose to pay the debt in installments or in full. Bank doesn’t debit your bank account automatically, so you must transfer money manually.
Moreover, you should transfer money from your bank account for identification purposes. At least one deposit has to be made from your own account, and further transfers can also be made from a third-party account.
Besides, you can deposit money before the due date. For example, if you have a low credit limit, you can use deposited cash for your personal spending.
Although Advanzia Mastercard Gold is a free credit card, you must keep interest rates in mind. Bank offers an interest-free payment period of seven weeks for all purchases with the card.
Hence, when paying with a credit card within the 7 weeks-period, you don’t pay any interest rate.
This, however, doesn’t apply to cash withdrawals – you will be instantly charged an interest rate (even within the 7 weeks-period). The interest rate is pretty high, so make sure you don’t withdraw money often.
Requirements for Advanzia Mastercard Gold
To get a credit card in Germany, you must meet several criteria. Advanzia has the following requirements for applicants:
- Age 18 years or older
- Resident in Germany or Luxembourg
- Residence permit for non-EU citizens
- Regular income
- German mobile phone number
- German bank account
- SCHUFA (credit score)
Furthermore, you don’t need a bank account to sign up for an Advanzia Mastercard Gold.
Advanzia Mastercard Gold is accessible to a wide range of customers, including foreigners living in Germany, e.g., expats, students, self-employed, or newcomers. Be aware that the initial credit limit will depend on your income and credit score; hence, it might be low for some individuals.
That said, the main requirement for the application is a residential address in Germany.
SCHUFA check at Advanzia
Keep in mind that Advanzia bank will need your credit score (SCHUFA) before approving your request. To make sure your credit rating is enough, check it beforehand on this website.
Nonetheless, applicants with poor credit scores get approved too. Here, it all depends on the individual case.
Who should get Advanzia Mastercard Gold?
- If you have been rejected by other, more reputable banks
- You don’t have a great credit score
- You are a student or self-employed
- You are traveling often
Don’t get this credit card if
- You want to withdraw money with a credit card and in significant amounts
- You want to spend a large sum in credit at once – this can lead to a high interest rate due to the delayed repayment from your side.
- You want to spend a significant amount of money every month that is above your budget – the reasoning from the previous point applies.
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How to get an Advanzia Mastercard Gold credit card?
Advanzia operates fully online; hence, you will need to apply for a credit card online and submit a few documents.
The identity verification is straightforward, and if you have an address and a personal bank account in Germany, you can get a credit card without going through the PostIdent procedure. However, the PostIdent verification will be necessary if you don’t have your own bank account for the initial transfer.
After a successful application, Advanzia bank will send you the credit card to your German address. Besides, you will have to pay your credit card bill using your bank account, which verifies your identity.
How to terminate this credit card?
The good news is that you can cancel the Advanzia credit card at any time without notice and without providing reasons. Just send an email to the bank. After that, you will receive written confirmation of the cancellation from Advanzia.
Here is the summary of the credit card Advanzia Mastercard Gold: