The Klarna Card is a credit card from the Swedish payment service provider Klarna. What makes the card special and where the strengths and weaknesses lie, we show in this detailed guide!
The best free alternatives to the Klarna Card
Hanseatic Bank GenialCard
- Action:30 Euro starting credit
- Free credit card – permanently without annual fee
- Free withdrawals worldwide
- No fees abroad
- Free payments worldwide
- Action: Get 25 Euro starting credit!
- Free Credit card
- Free Cash withdrawals worldwide
- Free Payments worldwide
- Free credit up to 2 months
TF Bank Mastercard Gold
- For a short time only:30 Euro starting credit secure
- Free Credit card
- Pay worldwide without any fees
- Travel cancellation insurance incl.
- International health insurance incl.
- Apple Pay capable
- Free withdrawals & Payments worldwide
- Free of charge Current account included
If you are looking for a free credit card, you will stumble across the Klarna Card more and more often – especially in big cities. Here, the Swedes rely on extensive advertising measures and have, for example, erected numerous large-scale posters in Berlin to advertise. But is the Klarna Card at all a really good option in the credit card comparison and what distinguishes the Klarna credit card from other payment methods?
Who is behind the Klarna Card?
At the first moment, the question certainly arises: Who is Klarna anyway and is the product reputable? However, the answer to this question can be given quite easily, because Klarna is a Swedish payment service provider that has received all relevant certifications in the financial field. In addition, Klarna has in Germany a few years ago the payment service Sofortuberweisung – today only Sofort. – has taken over and continues to operate. So far, nothing is widely known about security flaws or other problems.
A certain trust in Klarna and the Klarna Card is therefore quite appropriate. This is also true in the sense that it is a credit card without a current account. This means that as a customer you don’t take any risk, because unlike prepaid credit cards like the payangoCard or Money2Go credit card, you don’t have to load credit first. Instead, Klarna is the only one who pays in advance, so there are no risks for customers. So overall, it’s clear to say that the Klarna credit card is a reputable option – but is it also a good?
How to get the Klarna Credit Card in the first place?
The application for the Klarna Credit Card works in a different way than ordering a normal credit card. As a new customer, for example, you cannot get a credit card directly, unlike normal credit cards such as the ICS Visa World Card or a Consorsbank credit card. Necessary is that you first have the Klarna app on your smartphone. But that’s not all, you have to have used the service at least once before. However, all payments with Sofortuberweisung are also valid, even before the takeover by Klarna. If you have already used the service, you can also register for the Klarna Card immediately.
This works very simply directly via the app. Here you must then enter an IBAN from which the card should debit. To do this, you must log in to online banking via Klarna (analogous to the payment with Sofort.). The link with the current account works via a transfer of 10 cents, which are then transferred back again. Afterwards, the credit card application only needs to be confirmed with an SMS TAN. Video-Ident or Post-Ident is not necessary to apply for the Klarna Card. This makes the application process much easier – at least if you have already used Klarna at least once.
What advantages does the Klarna Card offer?
The Klarna Card offers some attractive advantages that are definitely worth mentioning. Primarily, the Klarna credit card is a completely free credit card. This means that you do not pay a fee either for applying or for holding the credit card – there is neither a monthly nor an annual fee. Thus, the card is much more convincing than most cards of branch banks, such as the Sparkasse credit card or HypoVereinsbank credit card. In addition, the card is independent of a current account, which is a relevant difference to the vast majority of direct banks, which offer their most attractive products only with a compulsory current account.
As a full-fledged credit card, the Klarna Card can be used worldwide
This flexibility is a definite advantage of the Klarna credit card. But it does not end there, because the credit card has other advantages that are definitely worth mentioning. Primarily it is worthwhile to have a look at the payment with the credit card here. You can use the plastic card for payments in online commerce as well as in retail stores. Because it is not a prepaid credit card or virtual credit card, you can also use the Klarna Card for a guarantee in a hotel or with a rental car provider. This is very rare for credit cards that can be applied for without Post-Ident or Video-Ident.
It is also very interesting that there is no foreign currency fee with Klarna Card. This means that you can also use the credit card to make payments in currencies other than the euro, such as US dollars, without incurring additional fees. Otherwise, this only applies to a few cards in Germany, because even most premium credit cards such as American Express credit cards come with such a fee. The conversion rate is also extremely fair with the Klarna credit card, because you always pay the rate specified by Visa – this is sometimes the best on the market, so that as a customer you benefit from attractive conditions, especially when making payments abroad.
In addition to these hard advantages of the Klarna credit card, there are also other relevant benefits. For example, the card can be applied for in various very individual colors. With other providers, this is only available for premium products, which is well illustrated by the example of N26 You. Very practical is analogous to the N26 current account and the N26 credit card also the simple and clear online banking, which can be used on the smartphone. Here you can clearly see all payments and also receives a notification of each new payment made.
Interesting is certainly also how flexible the billing of the Klarna Card works. Customers can either generally specify which type of repayment they want or decide again after each purchase how they would like to pay. Here Klarna offers three options:
- Immediate settlement from the current account
- Billing by invoice after 14 days
- Payment by installments
The first two payment methods are completely free of charge, although fees are charged if the repayment period for the bill is missed. Of course, there are also fees for repayment by installments, although you do not have to use this service at any time of course. Rather, with the Klarna Card you can also generally specify that you always want to pay the full amount immediately. In addition, the credit card supports the use of both Apple Pay and Google Pay, which is becoming increasingly important these days.
All in all, the advantages of the Klarna credit card can be described as very positive – the card can definitely convince with an attractive overall package, although there is one relevant disadvantage.
What are the disadvantages of the Klarna Credit Card??
One aspect of the Klarna Card makes it quite a problematic product. Unlike almost all other credit cards in Germany, no withdrawals are possible with the Klarna Card. This means that you cannot use the credit card at an ATM. Klarna also does not offer the use of the card for withdrawals in supermarkets, which is possible with other providers. This means concretely that a cash withdrawal, even with possible fees, is generally not possible with Klarna Credit Card. The product is purely a payment card.
You can’t withdraw money with the Klarna Card
After all, this is also the only real drawback. Possibly one could still note the interest as a disadvantage, if one decides for a payment on installments. Klarna charges an interest rate of 11.95 percent per year – plus a fixed monthly fee of 45 cents for using this service. The same fees and interest also apply if customers miss the repayment deadline of the invoice. Due to the flat fee, a late repayment is disproportionately expensive, especially for smaller amounts, and the interest rate is significantly higher than that of an overdraft facility from an ING current account or a DKB current account.
Nevertheless, the interest rates are not that bad, because other credit card providers (some of which do not offer full payment at all) have interest rates of up to 20 percent – this applies to the TF Bank Mastercard or the Barclaycard Visa, for example. So this disadvantage of the Klarna Card is not too problematic, especially since this service is completely optional. Less problematic for most is certainly also that the Klarna credit card has no additional services – so it is unfortunately not a credit card with insurance. There is also no premium version of the credit card, so it is primarily an entry-level model.
The primary disadvantage of the Klarna Card is that it cannot be used for withdrawals – this is almost unique among cards in Germany. Each interested party should therefore clarify whether this is okay or not.
Is the Klarna Card worth it at all??
The Klarna Card is not yet as well known in Germany as other cards, despite the large advertising campaign. The credit card is an interesting option if you are looking for an attractive card with which you can pay flexibly on the Internet and in retail stores. The primary attraction is that the card does not charge any fees, even in foreign currencies. In addition, it is basically a free credit card, which also speaks for the credit card from Klarna. So you can not really go wrong with the card, unless cash withdrawals play a role.
Whether the Klarna Card is more worthwhile than other free credit cards is for some but probably the primary question. This is where it gets exciting, because although the Klarna credit card is very attractive overall, there are still free cards in Germany that offer even more. The DKB credit card, for example, also offers free withdrawals, the Santander credit card a fuel discount. So there are also a lot of good arguments for one of the alternative credit cards.
Whether the Klarna Card is worth it depends primarily on whether withdrawals and additional services are important to you or not. If this is not the case and you just want to apply for a credit card quickly and easily, the Klarna credit card is definitely a good choice. However, we would only use the credit card as a secondary card due to the lack of withdrawal options.
What alternatives are there to the Klarna credit card?
The Klarna credit card is without a doubt a good choice, however, as already mentioned, there are also quite attractive alternatives to think about. Primarily, the following free credit cards offer even more services:
(free, free withdrawals, no foreign currency fee) (free, free withdrawals, no foreign currency fee) (free, free withdrawals, no foreign currency fee)
If you are looking for a credit card with a linked current account, the DKB credit card is definitely your best bet. Namely, this offers both free withdrawals and payments in foreign currencies for active customers. A good choice with easy billing is therefore usually the Hanseatic Bank GenialCard, which offers some attractive advantages.
If you want something more from your credit card, you should take a look at these models:
(110 euros / insurance / earn miles) (140 euros / insurance / earn miles)
With the Miles& More Credit Card Gold and the American Express Gold Card are two well-known credit cards for collecting miles that offer good value for money overall. At least if you like to collect miles with your transactions and also want to benefit from insurances. Alternatively, it’s worth taking a look at the Barclaycard Platinum Double and the American Express Platinum Card. After all, the latter is the best credit card in Germany, as long as you can make use of the corresponding benefits!
If you are still looking for a suitable credit card, you should also take a look at our credit card comparison. Through various filter options you can quickly and easily find the right model for your wishes and requirements here!