Volksbank credit card
As a local branch bank, the Volksbank is, next to the savings bank, for many the first contact for a credit card. But how good are the credit card offers of the approximately 900 independent Volksbanks and Raiffeisenbanks in Germany? On this page we provide information on the credit cards of the Volksbank and present some good alternatives.
What credit cards are available at the Volksbanks?
Each of the approximately 900 Volksbanks in Germany is legally and economically independent, so that the costs and services of the credit cards may well differ locally.
On the website www.vr.de of the Federal Association of German Volksbanks and Raiffeisenbanks 3 credit card models are presented:
- BasicCard (prepaid)
- ClassicCard (classic credit card)
- GoldCard (credit card with insurance benefits)
Some Volksbanken also offer the Visa Platinum Card. In addition to a concierge service, this also includes a priority pass for airport lounges.
The BasicCard of the Volks- and Raiffeisenbanken is a classic prepaid credit card.
The credit card Classic costs an annual fee of about 30 euros at most Volksbanks and is available as a Visa card and also as a Mastercard. It is advertised by the Volksbank for customers who “want to withdraw cash anytime and anywhere, make cashless and contactless payments or shop online”.
The ClassicCard also fulfils these standard expectations, but at quite steep fees. Because when withdrawing in the EU, 2 percent of the amount of money is charged, but at least 5 euros. Outside the EU or when paying in foreign currency, fees of 1.75 percent are also added.
With good free credit cards such as the Barclaycard Visa or the Hanseatic Bank GenialCard, there are no fees for the same service. To be fair, though, other branch banks like the Sparkassen or Deutsche Bank have similar expensive fee models.
As a further advantage, the Classic credit card offers access to the VR-MeineReise travel portal. When booking a rental car or a hotel, for example, you receive a refund of the travel price amounting to four percent .
Volksbank’s gold credit card combines the benefits of the ClassicCard with a fairly comprehensive insurance package. The annual fee is about 84 euros.
The insurance benefits include:
- a travel cancellation insurance
- a travel health insurance
- transport accident insurance
- travel service insurance
- and a foreign letter of protection insurance
In addition to the cardholder, family members are also insured. The reimbursement for bookings made via the VR-MeineReise.de travel portal is 7 per cent for the GoldCard.
Volksbank Visa Platinum and Visa Platinum Plus
With an annual fee of about 200 euros, the Visa Platinum credit card of Volksbanken is one of the most expensive credit cards in Germany. The Plus version currently costs almost 300 euros per year. Nevertheless, the price/performance ratio of the two cards is significantly better than with the GoldCard or the ClassicCard.
In addition to an even more comprehensive insurance package than the GoldCard, the Platinum card also includes a PriorityPass for free use of over 1,300 airport lounges worldwide. While the Visa Platinum “only” includes a standard membership (regular annual fee: 89 euros), the Visa Platinum Plus even offers Prestige membership worth the equivalent of 399 euros.
Further advantages of the Visa Platinum cards are:
- free cash withdrawal worldwide
- no fees for paying in foreign currency
- a 24h concierge service
The bottom line is that the Visa Platinum is thus – despite the high price – significantly more attractive than the Classic or Gold variants of the Volksbank credit card.
What is missing, however, is the lack of the option to earn miles. For most frequent flyers, the Gold or Platinum card from American Express or the Lufthansa Miles&More credit cards should be more attractive.
Is a Volksbank credit card worth it?
A big advantage of the Volksbanks are the numerous branches. If the opportunity for personal advice on site is important to you (and you are also prepared to spend more money on it), you certainly can’t go wrong with a Volksbank credit card.
In terms of cost and performance, however, there are better products from direct banks (e.g. DKB and Comdirect) and financial companies specialising in credit cards (e.g. Barclaycard and American Express).
Questions and answers (FAQ)
Do Volksbank credit cards support Apple Pay and Google Pay?
Since April 2020, Apple Pay has been supported for payment with the smartphone. Google Pay is not (yet) supported.