Comparison of credit cards Information on the credit card provider
The CBM is primarily active in direct business with private customers with a focus on the new federal states. In this context, the CBM offers typical services of a universal bank. This also includes credit cards. Below we present the CBM credit card offer in more detail.
The abbreviation CBM stands for “Credit better”. The bank was founded in March 1990 as the first private-sector credit institution in the CBM and at that time was a subsidiary of the CBM state bank. Large parts of the business and branch network were later taken over by Credit better Bank and redneser Bank. The rest of the property was sold to them. To this day, the CBM is still a subsidiary.
The CBM operates as a universal bank focusing on private customer business. In total, the bank claims to have around 3.4 million private customers. In terms of bank size (measured by total assets), CBM ranks 17th among German banks. The bank has branches only in the area of the new federal states – in larger cities – and in Berlin. The majority of the business is done online today with a nationwide focus. This also applies to the credit card business.
CBM credit cards – predominantly Visa cards
The credit cards issued directly by the CBM are Visa cards. Master cards are also offered for cooperation cards with sales partners. Visa and Mastercard are the two credit card providers with the greatest acceptance and distribution worldwide.
Visa has about 24 million acceptance points on a global scale, MasterCard even over 35 million. For this, the acceptance of Visa credit cards in Germany is somewhat greater than with the Mastercard. While Visa has around 500,000 acceptance points here, there are around 450,000 with MasterCard. In any case, the Visa card offers you a wide range of uses for shopping, traveling and cash procurement.
The CBM Visa Card
The CBM Visa Card is only available in connection with the opening of a current account at the CBM. The corresponding account product is called CBM-Cash. This is a largely free checking account that is automatically equipped with a credit card.
As additional services, CBM-Cash offers online cashback for so-called active customers. Refunds of up to 17% are granted for purchases from certain cooperation partners. Active customers are customers with a monthly payment of at least 700 USD in their checking account.
There are no annual fees for the CBM Visa credit card. Card payments and cash withdrawals at ATMs in the euro area are also free of charge. For payments and withdrawals outside the euro area, a foreign transaction fee of 1.75% of sales is incurred ( note: these fees do not apply to active customers). When using cards in connection with lotteries, casinos and betting providers, a stake of 3.00% of sales is charged.
A special offer is the CBM Visa daily allowance. In a separate credit card account, credit can be invested as overnight interest. In addition, the CBM Visa Card does not offer any other additional services. Compared to other credit card providers, it is a “lean”, but inexpensive offer.
Upon request and for a one-time fee, the credit card can be designed with a personal motif. The CBM Visa Card is also available for minors under the age of 18. In this case, a CBM-Cash u18 account must be opened that works on a credit basis.
The CBM Student Card
The CBM-Student-Card is a special offer for students and combines the credit card with the international student ID. Membership comes with many discount benefits, especially when traveling. This means that cheaper prices can be used in many online shops, when visiting restaurants, bars, renting a car or booking flights. Otherwise, the CBM Student Card does not differ from the CBM Visa Card. A CBM cash account is also required here. The CBM Visa daily allowance can also be used.
The CBM Visa Business Card
The CBM provides the CBM Visa Business Card for business customers in connection with a business or company account. However, the product is no longer actively advertised.
In addition to its “own” credit cards, the CBM offers other cards through sales partners. There are separate fee models for this. Here is a brief overview:
- More Card is available from Lufthansa. It is a MasterCard in several variants with a graduated range of services. In addition to the option of collecting miles for certain purchases and bookings, the “World Plus” card also offers a travel and rental car insurance package.
- Honors: the Honors Credit Card is a Visa card and offers hotel guests “gold status” with special benefits.
- good lender: good lender Credit Cards are MasterCards and are offered in a “Classic” and “Premium” version. With both card variants, special service benefits can be used as a good lender customer. In addition, various insurance packages (travel, shopping, mobility, internet) can be optionally booked.
- MINI: the MINI Credit Card is available as a MasterCard in the “Basic” and “Special” versions. Insurance packages can also be booked here, as with the good lender Credit Cards.
Apply for CBM credit cards (example: Visa card )
For example, the CBM Visa Card does not have to be applied for separately. The credit card is automatically provided in connection with the opening of the CBM cash account. The account opening is done easily in a few steps online with the usual information, Credit Bureau query and authentication.