Instabank Credit Card
Instabank Credit Card
- Instant virtual card access
- Credit limit up to €25,000
- No SCHUFA check
- Low interest rate from 18.9%
| Annual Fee: | Free |
| Spending Limit: | Up to €25,000 |
| Interest Rate: | 18.9% p.a. |
| Credit Check: | No SCHUFA |
| Delivery Time: | Up to 10 days |
Looking for a credit card in Germany with a high credit limit and no annual fee? The Instabank Credit Card offers just that — plus a remarkably low interest rate of 18.9% and instant access to your funds through a virtual card. It’s a compelling option for anyone who prefers revolving payments over time without getting buried in fees. With features like direct transfers to your bank account, no SCHUFA check, and a user-friendly app, Instabank appeals especially to users who want both control and convenience in one place.
Instabank Credit Card Overview
The Instabank Credit Card is designed for users who want quick access to flexible credit without the burden of traditional fees. It comes with no annual fee, no monthly maintenance costs, and allows you to manage everything through their digital platform. The card is issued by Instabank ASA — a Norwegian provider — and offers virtual access instantly after approval.
Key Features:
- High credit limit up to €25,000
- Low interest rate: 18.9% nominal (20.63% APR)
- No annual fee or monthly fee
- Virtual card available immediately
- Transfer funds from card to your bank account
- No SCHUFA check – uses Experian instead
- Membership in the 10%-Club for exclusive discounts
- Fully digital onboarding and app access
How to Apply for the Instabank Credit Card
Getting started with the Instabank Credit Card is fast and entirely digital. The application process is streamlined, with instant approval decisions and no SCHUFA involvement. You can complete everything from your smartphone in just a few steps.
Step-by-step Application Process
- Complete online application
- Submit personal and financial information
- Verify your identity via smartphone
- Receive instant decision and access your virtual card
1. Complete online application
Visit Instabank’s website and start the credit card application form. You’ll be asked to provide standard details like your name, address, and contact information. The form is short and optimized for mobile.
2. Submit personal and financial information
You’ll need to provide proof of income, your tax residency status, and confirm you have no ongoing debt collection procedures. Instabank uses Experian, not SCHUFA, for their credit evaluation.
3. Verify your identity via smartphone
The verification process is fully digital. You’ll confirm your ID and sign the agreement using your phone. A German mobile number is required for authentication.
4. Receive instant decision and access your virtual card
After approval, your virtual card is immediately available in the app and online banking. The physical card is shipped within 10 days. You can begin transferring funds or making purchases right away.
Instabank Credit Card Fees and Interest
Instabank stands out by offering a transparent fee structure with no annual or monthly charges, making it an accessible choice for cost-conscious users. However, it’s important to understand the interest rate and transaction-based fees, especially if you plan to use the card for cash advances or foreign purchases.
Interest and Fee Structure
| Fee Type | Amount |
|---|---|
| Annual Fee | €0 |
| Monthly Account Fee | €0 |
| Purchase Interest Rate | 18.9% p.a. (20.63% APR) |
| Interest-Free Days | None |
| ATM Withdrawal Fee | 2% (max €50 per withdrawal) |
| Foreign Currency Fee | 2.49% |
| Balance Transfer Fee | 2% (max €50 per transfer) |
| Card Delivery Time | Up to 10 days |
| Virtual Card Availability | Instant |
The interest applies immediately after purchase, as there is no grace period. If you carry a balance, interest accumulates daily based on the agreed terms. This makes the Instabank card less suited for short-term borrowing but more favorable for long-term installment use due to the relatively low APR.
Benefits and Drawbacks of the Instabank Credit Card
Pros:
- No annual or monthly fees
- High credit limit up to €25,000
- Virtual card available instantly
- Fast and fully digital application process
- No SCHUFA check – Experian used instead
- Direct fund transfers from credit to bank account
- Transparent interest rate (18.9%)
- Access to exclusive 10%-Club discounts
Cons:
- No interest-free period – interest starts from day one
- ATM withdrawals and transfers have extra fees
- Foreign currency transactions incur a 2.49% fee
- Requires minimum age of 23
- Income and residency criteria apply
- Only one repayment model – no flexible installment setup
FAQ
Frequently Asked Questions
No. Instabank uses Experian for credit assessment instead of SCHUFA, which can be beneficial if you’re trying to avoid SCHUFA footprints.
Yes, the card works worldwide. However, a 2.49% foreign transaction fee applies to purchases in other currencies.
Yes. You need to have a taxable income and no active collection cases. Instabank does not publish an exact income threshold.
You get instant access to your virtual card and credit limit right after completing the digital identity check and signing the agreement.
Yes, but a 2% fee applies per ATM withdrawal, with a maximum charge of €50 per transaction.