Deutsche Credit Bank cancels free credit cards

In the future, DKB will no longer offer a free credit card to his checking account. To date, the bank has distinguished itself from many competitors. Dar Al Mal wants to offer its customers an alternative.

Deutsche Credit Bank (DKB) is canceling his free Visa credit card. Instead, a Visa debit card should allow cashless payment from the first half of 2022. I first mentioned Computer Build.

Unlike other banks, the direct bank credit card was a real credit card with a monthly debit from the checking account. With cancellation, the bank also loses a distinct advantage over other financial institutions.

In the future, customers will have to pay a monthly credit card fee. Alternatively, they can switch to a debit card. t-online explains the differences.

What is the difference between debit and credit?

Ostensibly, they are hardly distinguishable and in both cases the term credit card is used colloquially. But there are crucial differences between a credit and debit card, especially when it comes to debiting an account.

With a debit card, the account is debited immediately, in the case of DKB, on the same day. The account balance amount determines the card limit. The classic giro card (formerly EC Card) is also a debit card. More about this I read here.

With a credit card, on the other hand, the amount is first financed in advance by the card provider. Then the customer receives a list of expenses and the amount is debited from a reference account in the following month.

Both types of cards are accepted abroad. However, additional services like cashback or the like are available for credit cards only.

What does this mean for customers?

In the future, DKB account holders will only get a Visa debit card for free. If you still want to get a credit card, you will have to pay €2.49 per month to get it. This applies equally to new customers and 4.8 million existing customers.

Existing customers who receive a new Visa debit card still have a ten-week transition period during which the old card can still be used. After that, the monthly fee is due.

The new debit card is expected to be issued from the first half of 2022. The giro card is also available to existing customers only. For new customers, the new debit card aims to combine the functionality of giro and credit cards. Existing customers must actively agree to the changes following BGH’s decision in April.