The PAYBACK American Express Card in Germany allows cardholders to earn rewards effectively. Benefits include earning double points, no annual fee, and options for mobile and contactless payments.
It's an excellent option for those seeking to maximize rewards through shopping. To apply, follow the straightforward guide provided on the American Express website, ensuring you meet the criteria specific to residents of Germany.
Benefits of the PAYBACK American Express Card
The PAYBACK American Express Card offers significant advantages for users in Germany.
This card allows you to collect points across a wide range of activities, both in physical stores and online, setting it apart from typical store-specific affiliate programs.
Since its launch in Italy in 2014, the card has expanded significantly and now includes over 180 partners. Key benefits include:
- Earning double points on every purchase made with the card.
- No annual fee, making it a cost-effective choice for frequent shoppers.
- The opportunity to earn up to 4,000 bonus points upon successful card issuance.
- It is compatible with mobile payment systems like Apple Pay, Google Pay, and Payback Pay for convenient transactions.
- Contactless payments for transactions under €50, enhancing the ease of use.
In Germany, where the PAYBACK program is the leading rewards scheme with over 30 million participants, every transaction at a partner company not only accrues points but also opens up possibilities for cash redemption, rewards, and contributions to charity through the Lufthansa Miles & More program.
How to Apply for a Credit Card—The Basics You Need to Know
To apply for the Payback American Express Card in Germany, applicants must meet specific requirements:
- Be at least 21 years old, though 18-year-olds can qualify if they demonstrate regular income or join as authorized users on another's account.
- Possess a Social Security number or Individual Taxpayer Identification Number (ITIN), though this is often a basic requirement for many card issuers.
- Have a consistent source of income. This can include non-wage income such as investment returns, child support, or social security benefits, which are considered valid sources of income for application purposes.
These steps ensure that applicants in Germany have the necessary qualifications to proceed with their application for the Payback American Express Card.
Know Your Credit Score
In Germany, understanding one's credit score is vital when applying for the Payback American Express Card.
A credit score acts as a fundamental criterion in various financial assessments, including credit card applications. Generally, a higher credit score increases the likelihood of application approval.
To check your credit score in Germany, you can:
- Review your monthly credit card or bank statements. Many financial institutions provide a free monthly summary of your credit score.
- Utilize a credit score service such as MyCredit Guide.
Choose the Credit Card You Want
When selecting a credit card in Germany, especially the Payback American Express Card, consider your specific needs.
The Payback American Express Card is suitable for those looking to earn rewards while shopping. Here’s a breakdown to guide your choice:
- Secured Credit Cards: These require a deposit and cater to individuals with no or poor credit history. The Payback American Express Card, however, does not fall into this category, as it is aimed at providing rewards.
- Standard Credit Cards: Useful for managing cash flow and building credit history without an annual fee. The Payback American Express Card offers a more rewarding experience by allowing you to earn points on purchases at participating stores in Germany.
- Balance-Transfer Credit Cards: These are ideal for consolidating debt, usually offering a 0% introductory APR on balance transfers. While the Payback American Express Card focuses more on rewards, it’s important to assess if it also meets your debt consolidation needs, if applicable.
- Rewards Credit Cards: These cards, like the Payback American Express Card, provide benefits such as reward points or cash back. In Germany, using this card at affiliated stores maximizes your returns, making every purchase more beneficial.
Consider applying through a bank or credit union where you already hold accounts, as this might simplify the approval process.
Always compare the terms available on the issuer’s website to ensure the Payback American Express Card aligns with your financial strategies in Germany.
Complete the Application
To apply for the Payback American Express Card in Germany, you can start the application online or by phone.
This process is fast, often yielding a response within minutes. When applying, have the following information ready:
- Name, date of birth, and tax identification number;
- Annual income;
- Address in Germany;
- Signature (can be electronic) and the current date.
If transferring balances from other cards, details such as creditor names, account numbers, and the amounts owed are necessary.
How to Use and How Not to Waste Payback Points
Understanding how to use Payback points effectively is key, especially for cardholders in Germany.
One can redeem these points for various rewards, such as cookware or an electric shaver. However, these types of rewards are often less beneficial for the customer.
Instead, using points to obtain discounts at partner stores is a more practical option. Here are the conversion rates for Germany:
- At Carrefour, Maxi Zoo, Bricofer, and 101 Coffee, 1,000 points can be exchanged for a 5€ discount.
- At Mondadori, 1,200 points yield a 5€ discount.
- Booking a flight or hotel through American Express Travel allows 1,000 points to reduce costs by 4€, such as discounts on a 5-star hotel stay.
- At Esso gas stations, 960 points can be redeemed for a 4€ discount.
Additionally, converting Payback points to Alitalia miles is another option. Typically, 1,000 Payback points convert to 500 Alitalia miles, with occasional special offers providing more favorable conversion rates.
Interest Rates and Fees
The Payback American Express Card offers a convenient way to earn rewards on everyday purchases in Germany. It's designed for those who want to maximize their spending power with a straightforward fee structure and valuable benefits.
Rewards on Every Spend: Earn 2 PAYBACK Points for every €1 spent, except on Fuel, Insurance, Utilities, Cash Transactions, and EMI conversions at Point of Sale.
Annual Fee:
- First Year: €10 (including taxes).
- Second Year Onwards: €20 (including taxes).
Card Type: Credit Card
Additional Benefits: Accumulate PAYBACK Points across over 50 PAYBACK partners in Germany.
Contact for Inquiries
For inquiries regarding your PAYBACK American Express card, refer to the following contact details in Germany:
- American Express Card Service: 069 / 9797 1000 (available 24 hours)
- Direct Contact: Access the contact page for direct communication.
- Postal Address:
American Express Europe SA (Germany branch)
Theodor-Heuss-Allee 112
60486 Frankfurt am Main
The Takeaway
Applying for the Payback American Express Card in Germany requires careful preparation, much like a job interview. Ensure you have a sufficient income and credit score to boost your chances of approval.
If your application is declined, consider applying with another bank. If negative factors affect your application, address these issues and try again.
