If you frequently travel and need a credit card other than a checking account, consider the Consors Finanz Mastercard.
It’s essential to note that this is distinct from the Consorsbank credit card, although the same financial institution issues both.
Consors Finanz, previously known as Commerz Finanz, is part of the large French bank BNP Paribas but operates independently. Next, we’ll detail the key aspects of the Consors Finanz credit card.
Consors Finanz: Overview
Consors Finanz is a registered trademark of BNP Paribas SA’s German branch, a public limited company under French law.
The core of its operations includes consumer lending, focusing on retail and online transactions and financing solutions for vehicles such as cars, caravans, and motorcycles.
Their product range includes
- installment loans,
- card products with credit lines,
- bullet loans, and
- various insurance and other offerings.
They partner with diverse sales partners, which include trade companies, banks, and insurance firms.
The introduction of the Finanz Mastercard marks the launch of an accessible credit card option that retains all the benefits typical of a primary bank’s offering.
Consors Finanz Mastercard Issued by BNP Paribas
The Consors Finanz Mastercard is distinct from the Consorsbank credit card. Unlike the latter, which is directly issued by Consorsbank, the Consors Finanz Mastercard comes from Consors Finanz, previously known as Commerz Finanz.
Despite both entities being part of the BNP Paribas group in France, they operate independently.
Consors Finanz Mastercard is Best for Online Shoppers and Travelers
The Consors Finanz Mastercard is ideal if you often shop online or travel frequently. Here’s why:
- For online shoppers: The card offers a generous 90-day interest-free purchase period, making it ideal for bigger buys. Just ensure you pay on time to avoid the high 18.90% interest rate that kicks in after the interest-free period. Make sure your account has enough money when the payment is due.
- For travelers and backpackers: This card can be a great option to manage your finances while on extended trips or well-deserved vacations, thanks to its credit line and 90-day payment term. However, avoid using it for cash withdrawals, as it incurs interest from the moment of withdrawal, adding hidden costs.
Advantages of Consors Finanz Mastercard
The Consors Finanz Mastercard presents numerous benefits. Here are some of them:
Flexibility in Application
The Consors Finanz Mastercard offers the unique option of applying without linking to a checking account, though you can connect it to one if you prefer.
Extended Repayment Period
A standout feature is the unusually long repayment grace period of up to 105 days, which is a rare find in the credit card market.
Cash Withdrawal Benefits
Withdrawals over 300 euros are free when immediately offset by a bank transfer and new users receive a 50 euro bonus on their first use.
Travel-Friendly Features
No fees on foreign currency transactions make the Consors Finanz Mastercard an excellent choice for international travelers, helping you manage expenses without interest charges.
Top-Notch Security
Featuring an EMV chip for fraud protection and the 3D Secure process for secure online payments, ensuring your card data remains safe and encrypted during all transactions.
Control at Any Time With the Consors Finanz Mastercard
With the Consors Finanz Mastercard, you get extensive features for secure and straightforward management of your credit card account, even while mobile:
- Access online banking through any internet browser.
- Use the dedicated app available for both Android and iOS devices.
- Log in from anywhere around the world.
- Receive push notifications for all transactions.
- Get email and SMS alerts about your credit card account activity to safeguard against unauthorized use.
- Contact a 24-hour hotline for immediate assistance.
- Easily block your card using a central emergency number.
Security of the Consors Finanz Mastercard
The Consors Finanz Mastercard offers high security.
- You can manage your account through a mobile app on Android and iOS devices, which leverages your smartphone’s built-in security features, such as facial recognition and fingerprint scanning.
- Adjusting your credit limit is straightforward—you can request an increase through the app without completing any forms.
- You’ll receive push notifications for all transactions, allowing you to detect any potential fraud immediately.
- For any issues, customer service can be reached at +49 (0) 203 346 954 02.
Additionally, you can block or unblock your credit card anytime, either through the app or a web browser, ensuring control over your card is always in your hands.
Consors Finanz Banking App: What Can It Do?
The Consors Finanz Banking app makes your transaction daily smoother. Here’s why:
- Online Banking: Execute all standard banking operations like transfers and standing orders from your smartphone.
- CashClick: Transfer money from your Consors Finanz Mastercard credit line to a designated reference account. This function utilizes the card’s generous credit limits and flexible payment terms.
- Set Repayment: Manage installment payments for your card transactions directly through the app. This feature is preset but can be effortlessly disabled if you prefer to avoid the high interest rates associated with partial payments.
- Apply for a Limit Increase: Depending on your credit score, your initial credit limit might be up to €5,000 monthly. You can request an increase quickly within the app.
- Receive Notifications: Stay informed of all card transactions with optional push notifications sent directly to your smartphone.
This app puts comprehensive financial management at your fingertips, ensuring you can oversee and control your finances efficiently and securely.
Important Credit Considerations for the Consors Finanz Mastercard
Be cautious! The Consors Finanz Mastercard is not a typical credit card but an installment loan.
This detail might seem minor but can significantly impact your Schufa score, which assesses your creditworthiness.
Using the card’s maximum credit line of 5,000 euros could lower your Schufa rating. Consider this before applying.
Essential Criteria for Consors Finanz Mastercard Application
As with other banks, the requirements for applying for the Consors Finanz Mastercard are the same.
- Active checking or salary account at a German bank.
- Proof of steady employment (three recent pay slips).
- Main residence in Germany.
- Adult status.
- Good creditworthiness is verified by credit bureaus like Schufa or CRIF.
This is how you can apply for the Consors Finanz Mastercard
The Consors Finanz Mastercard operates independently. You can link this credit card to your current checking account.
Here are the steps you need to follow to apply for the card:
- Check Eligibility: Ensure you are at least 18 years old, have a permanent residence in Germany, and maintain a regular income.
- Prepare Your Details: Gather necessary information, including your name, address, contact details, and employment and financial information.
- Fill Out the Application: Enter all the collected details into the online application form.
- Review Your Information: Before submission, verify that all the information you’ve entered is accurate.
- Submit the Form: Once reviewed, submit the form to the bank for processing.
- Wait for Confirmation: After submission, look for a confirmation email from the bank.
- Receive Your Card: Your new Mastercard will be mailed to your provided address.
- Receive Your PIN: Expect to receive your PIN separately for security reasons shortly after your card is delivered.
Also, contact their customer service team for expert advice on any issue.
Note that it’s best to contact support during regular business hours for complex inquiries. In urgent cases, like blocking a credit card, support is accessible even on weekends.
For questions about the Consors Finanz Mastercard, call 02 03/34 69 54-02 or write to Consors Finanz at Schwanthalerstraße 31, 80336 Munich.
Conclusion
The Consors Finanz Mastercard, noted for its detailed and somewhat complex conditions, necessitates a thorough review of its terms and conditions.
If you manage its minor drawbacks well, this card could be a fitting choice for integration with your existing checking account.
Disclaimer: Always stay informed about the latest terms to mitigate risks associated with credit card usage. For updated details, consider visiting the bank’s Terms and Conditions page.