Hanseatic Bank offers a range of credit cards designed to be flexible, easy to manage, and accessible to a wide audience. Whether you are looking for a card with no annual fees, the ability to pay abroad seamlessly, or all the required insurance while traveling, Hanseatic Bank could be a strong contender.
However, as always, Hanseatic Bank credit cards also have limitations and might miss some features for reward lovers. I have reviewed countless credit cards and financial products credit cards. In this article, I want to explore whether a Hanseatic Bank credit card is the right choice for you and how the card fits an expat life in Germany.
Hanseatic Credit Cards: Product Review in a Nutshell
PROS
CONS
- No annual fee card or and GoldCard with competitive pricing
- Free cash withdrawals worldwide
- No foreign-currency transaction fees
- Easy account management via the dedicated English mobile app with Apple Pay and Google Pay support
- Easy bill repayment with automated direct debit possible
- Worldwide acceptance of Visa
- Can be connected to your existing German bank account
- High interest rates for partial payments (approx. 20%)
- No large-scale rewards prgram for cashback or airline miles collection
- No additional cards for partners or family available
After reading my review article, you will clearly understand Hanseatic Bank as an institution, its benefits, costs, types, and how you apply for a Hanseatic credit card. Finally, I will suggest alternatives if you need further inspiration.
What is Hanseatic Bank?
Hanseatic Bank is a privately owned German bank headquartered in Hamburg. Founded in 1969, it initially focused on financing retail purchases for customers of Otto Group – a leading German retail company. Over time, it expanded its portfolio to include consumer credit, insurance products, and credit cards. Since 2005, the majority stake in Hanseatic Bank belongs to Société Générale, one of France’s top banks.
Today, Hanseatic Bank is best known for its streamlined and accessible financial solutions, making it a popular choice for individuals seeking simplicity and convenience in their banking experience. The digital-first approach allows customers to apply for products, manage accounts, and access customer support online without needing to visit a branch. For expats, Hanseatic Bank offers several appealing features:
- Simple application process: The bank’s online application process is straightforward and efficient, requiring minimal paperwork.
- User-friendly management tools: Customers can track their spending, pay bills, and manage their accounts via an intuitive app and website.
- Customer support options: While customer service is primarily in German, Hanseatic Bank provides an English-language mobile application.
Perks and Fees of Hanseatic Bank Credit Cards
Hanseatic Bank cards stand out in Germany for their transparency and cost-effectiveness. The absence of annual fees for the GenialCard and awa7, as well as the GoldCard with a holistic insurance package at competitive pricing, makes them attractive for those seeking low-cost credit options. Additionally, unlike some competitors, Hanseatic Bank has no hidden fees for foreign transactions, ATM withdrawals, or bill settlement via direct debit. This makes the Hanseatic Bank credit card easy to manage.
Monthly Fees
The GenialCard and awa7 have no monthly fees, making them budget-friendly options for minimizing fixed costs. The GoldCard, on the other hand, charges a monthly fee of 4.90 Euros, which is offset by additional perks like travel insurance.
Overview: Hanseatic Credit Cards and Fees
Perks Across all Hanseatic Credit Cards
While each card comes with its own specific features, several benefits and restrictions are consistent across the Hanseatic Bank lineup.
Flexible and customer-friendly repayment
Hanseatic Bank credit cards offer flexible repayment options. You can easily set up a full repayment of your credit card bill via direct debit. Then, you automatically avoid all interest payments. The feature makes account management much more customer-friendly than with options like the TF Bank Mastercard Gold, Barclays Visa, or Advanzia Gebührenfrei. If you pay in installments, the interest rate typically ranges around 20% APR, depending on the card.
No Foreign Transaction Fees
The lack of foreign transaction fees on all Hanseatic Bank credit cards is especially beneficial for frequent travelers or expats who frequently shop online in their home country’s currency.
No Cash Withdrawal Fees
You can withdraw cash at ATMs abroad without additional fees. As with any credit card, some ATM providers can charge an extra fee that Hanseatic cannot influence. But Hanseatic does not charge a fee on their side. In Germany, you can withdraw cash for free at retailers with the so-called “Bargeldservice.” Cash withdrawals at German ATMs incur a fixed fee of 3.95 Euros per transaction.
Discounts and Cashback
Hanseatic does not have a large-scale rewards program, but it features a “Vorteilswelt” that provides cashback offers and discounts:
- Cashback on Online Purchases: Enjoy vouchers and deals for over 100 online shops.
- Travel Cashback: Receive up to 5% cashback on bookings made through Hanseatic Bank’s “Reisewelt” travel portal. While these offers can be advantageous, I recommend comparing prices with other providers to ensure you get the best deal.
Wide Acceptance
Visa issues all Hanseatic Credit Cards with broad acceptance globally. You will not need to worry about finding merchants who take your card, whether you are shopping locally or abroad.
No Need to Switch Bank Accounts
There is no requirement to open a new bank account with Hanseatic Bank. You can simply link the card to your existing checking account (Girokonto), making it an easy addition to your current financial setup. Hence, there is no need to switch banks if you are a fintech customer like N26 or Vivid, which do not offer credit cards.
Restriction: No additional cards
Hanseatic Bank does, unfortunately, not offer to issue additional cards for family and partners. Hence, everyone would need to get their card and go through a creditworthiness check.
Hanseatic Bank GenialCard
The GenialCard by Hanseatic Bank is one of the most attractive credit card offerings on the German financial market.
The GenialCard is an actual no-annual-fee credit card – this applies not just for the first year but all subsequent years. Unlike some competitors, such as the American Express Green Card, there are no conditions to meet, like maintaining a minimum annual spend or completing a certain number of transactions.
Hanseatic will define your initial credit limit between 500 Euros and 2,500 Euros. You can also directly transfer money to your current account. During or after the application, you can ask for a so-called immediate money (“Sofortgeld”) of up to 1,500 Euros. For new customers, an additional perk is three months of interest-free installments. This is particularly useful for expats managing their initial expenses in Germany, such as furnishing a home or traveling. The regular interest rate (APR) is currently 19.74% (January 2025).
Currently, Hanseatic gives you a 25 Euros sign-up bonus if you spend 100 Euros (excl. withdrawals or transfers) during the first four weeks after card activation.
Hanseatic GenialCard
No annual fee
€25 start bonus
When is the Hanseatic Bank GenialCard Right for You?
The Hanseatic Bank GenialCard is an excellent choice for everyone seeking a versatile and cost-effective credit card. Its fee-free structure and ease of use make it ideal for daily use, travel, and international expat life. If you are looking for a straightforward credit card with no hidden costs, the GenialCard is worth considering.
It is worth noting that the GenialCard does not include insurance benefits similar to most no-annual-fee credit cards. While it lacks travel, dental, or wallet protection insurance, these can be added for a small monthly fee. Hence, you can customize the card to suit your needs while keeping the base cost zero. However, choosing the GoldCard is more cost-effective if you want a complete travel insurance package.
awa7 Visa Kreditkarte
Introduced in 2021, the awa7 credit card is ideal for environmentally conscious expats who wish to combine their financial transactions with ethical contributions. It positions itself as a sustainable alternative to the Hanseatic Bank GenialCard, with nearly identical terms and conditions but a unique focus on environmental impact.
While the awa7 shares many similarities with the GenialCard, it sets itself apart through its commitment to sustainability:
- Forest Protection Initiative: For every 100 Euros spent using the card, the bank, in cooperation with the organization WeForest, protects one square meter of existing forest.
- Tree Planting for New Customers: Upon activating a new card, seven trees are planted in Germany as part of the card’s environmental initiative.
However, the card also has two drawbacks compared to the GenialCard:
- No sign-up bonus: You cannot get a 25 Euro start bonus with the awa7 card.
- Higher interest rate: The annual percentage rate (APR) with the awa7 is 21.78% instead of 19.74% with the GenialCard.
awa7 Kreditkarte
No annual fee
When is the awa7 Card Right for You?
The awa7 credit card is an appealing blend of cost-efficiency and environmental impact, making it an excellent choice for everyone who values sustainability.
However, at the moment, the GenialCard is slightly more attractive thanks to the sign-up bonus and lower interest rate.
Hanseatic Bank GoldCard
In my opinion, the Hanseatic Bank GoldCard is probably the most budget-friendly premium GoldCard that really deserves its name. This golden credit card includes insurance designed to meet the needs of frequent travelers and expats alike.
It basically features all the advantages of the GenialCard, such as zero fees for ATM withdrawals and payments abroad, an easy and flexible repayment process, and the same interest rate. On top of that, GoldCard holders benefit from an extensive insurance package provided by HanseMerkur – one of Germany’s top insurance companies. These travel-related coverages ensure you are prepared for a wide range of situations:
- International travel health insurance and emergency insurance: You are automatically covered, regardless of whether the trip was paid by card or not.
- Trip cancellation, interruption, and ticket protection insurance: This covers you if you pay at least 50% of the trip cost or 100% of the ticket with your GoldCard.
- Flight and luggage delay insurance: If your flight or luggage is delayed, this insurance covers food, drinks, hotel stays, clothes, and toiletries. You need to pay for the flight and expenses with your GoldCard.
- Travel luggage insurance: If the trip was paid for by GoldCard, the insurance covers lost luggage.
- Emergency Insurance: Automatically included, independent of card usage.
The protection extends to the partner and children, even if the card owner is not traveling with them.
Hanseatic GoldCard
€4.90 monthly fee
When is the Hanseatic Bank GoldCard Right for You?
The Hanseatic Bank GoldCard strikes an impressive balance between affordability and premium benefits. It has a very low monthly fee of 4.90 Euros compared to other premium credit cards.
This affordable fee makes the card an excellent choice for everyone who travels two to three times per year. The insurance package covers all significant incidences. It is positive that some insurances, such as travel health insurance, are not dependent on whether the trip is paid for by card.
Only rental car insurance is not included. If you rent frequently, check out the Eurowings Platinum Double or Eurowings Premium cards.
How Easy Is It to Manage a Hanseatic Bank Credit Card?
Hanseatic’s account management and customer service options do not differ significantly from those of other online banks. However, their customers have exceptional customer satisfaction with their services.
Online and Mobile Banking
Hanseatic’s mobile app and website lets you easily track your expenses, view your balance, and make payments. I am not a customer myself, but through friends, I have heard that the mobile app is intuitive and stable but sometimes a bit slow. In general, it offers all essential features and is also available in English:
- Set your desired repayment rate yourself
- See your current available amount and all transactions
- Assign your own PIN
- Authorize ATM, foreign, or online transactions
- Lock your card in case of emergency
- Set up Apple Pay or Google Pay
Customer Service
Hanseatic Bank’s customer service is principally available via a contact form. There is telephone support, but the contact number is hidden. The bank obviously tries to make people use the contact form.
Still, Hanseatic has exceptionally high customer satisfaction. While customers of Barclays, Advanzia, or other online credit card providers complain about long waiting times and unhelpful agents, Hanseatic customers praise the quick and helpful support.
How to Apply for a Hanseatic Bank Credit Card in Germany
Applying for a Hanseatic credit card follows the regular credit card application process consisting of application, approval, and identification. The detailed application steps and the requirements are the following:
Steps to Apply for a Hanseatic Bank Credit Card
Eligibility Requirements
The following eligibility criteria are essential for your application to be successful.
- You must be a resident in Germany
- You require a German bank account
- You must provide a passport or national ID card
- You must have regular income.
- SCHUFA Check: Hanseatic performs a SCHUFA check to determine your creditworthiness. You need to give consent during the application. This is a usual process for all credit cards in Germany to verify that you do not have any outstanding missed payments.
Conclusion: Is a Hanseatic Bank Credit Card Right for You?
Hanseatic Bank has become a reputable name on the German credit card market and a popular option among German citizens. They mainly offer two options:
- GenialCard and awa7 with zero annual fees, no foreign transaction fees, and complementary cash withdrawals abroad. This and the consumer-friendly automatic bill settlement process make it probably the most versatile and best free credit card in Germany. The two cards offer almost similar conditions, except that GenialCard provides a sign-up bonus of 25 Euros and lower interest fees. On the other hand, awa7 invests profits in green projects.
- Hanseatic GoldCard is the advanced version of GenialCard: complementary cash withdrawals and zero fees abroad, combined with a holistic travel insurance package covering the entire family. The travel health insurance even covers trips independently of credit card payments. With a monthly fee of 4.90 Euros, it is the cheapest credit card in Germany with a holistic travel insurance package.
What are the Alternatives?
Personally, I think the Hanseatic Bank cards score very high. However, in some cases, the cards might not be for you:
- You often rent a card during vacation: The GoldCard does not include rental car insurance. You might favor the Barclays Platinum Double or Eurowings Premium.
- You want German credit card with miles, points, or cashback: Except for selected offers on the portal for Hanseatic customers, the bank has little to offer for cashback lovers. You can check American Express, Eurowings, Amazon Visa, or the Hilton Honors Card.
- You have just arrived in Germany. Hanseatic Bank is stricter regarding applicants without a credit history. In this case, Advanzia Credit Card or TF Bank Mastercard Gold could be interesting.
If you need further suggestions, check out Settle in Germany’s guide to finding the best credit card in Germany. Here, we compare and list all the available options in Germany.
