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Hardly any benefit: Discontinued EC card model: Because it is better to pay differently

Hardly any benefits
Discontinued EC card model: why it is better to pay differently

In cash or with an EC card – this is how you usually pay in shops or restaurants in Germany. But is it still up to date? 3 reasons why it’s better to pay differently these days.

Germans are considered to be a nation that pays in cash, but the EC card is also a common means of payment in this country. Debit the current account immediately, the amounts are debited quickly. While this is practical, you should still be thinking about alternative payment methods today, because:

Reason No. 1: Debit cards hardly offer bonuses

Pay cashless and have the amount debited directly from your account – that’s really cool. But the average debit card rarely offers more bonuses or perks. Yet you often have to pay transaction fees or ATM withdrawals. A smart alternative: credit cards.

Alternative EC card: credit card

Those who use a credit card do not have to change the payment method during the purchase, but benefit from advantages: the total amount paid with the credit card is usually debited from the account only once a month. Additionally, credit cards often offer their own bonus programs, in which points or miles are accumulated through payments, which can then be exchanged for rewards or credited.

At American Express, for example, you participate in the Membership Rewards program. The points collected there can be used for non-cash prizes or trips, for example. You can also donate equivalent value to a good cause.

Suggestion: If you apply for the American Express Gold Card now and spend 3,000 euros with the card in the first six months, you will receive an initial credit of 144 euros. Since the credit card costs 12 euros a month, the first year is effectively free.

ANNOUNCEMENT

American Express Gold Card

Action: € 144 initial credit

to offer

Reason No. 2: EC cards are less common internationally

While it is still possible to get by with an EC card almost anywhere in other European countries, purchasing a credit card is a good idea at the latest when traveling to the US – credit card payment is generally more common there and even small amounts are often preferred to be paid with a plastic card rather than cash. With the Lufthansa Miles & More credit card, you can also simply use your accrued award miles.

ANNOUNCEMENT

Miles & More Gold Card

Welcome bonus of 4,000 award miles

to offer

Reason No. 3: safe alternatives

Contactless payment via Near-Field-Communication (NFC): now also works with EC cards. However, you often have to enter or sign your PIN at the checkout. An unsanitary process at least since the time of Corona. It is best to use contactless payment options via smartwatches or mobile phones such as Apple Pay or Google Pay.

Because here the payment is not activated via the card reader keyboard, but via the fingerprint or facial recognition, for example. And: In contrast to payment by EC card, no sensitive data is transmitted here, only so-called tokens. This is a transaction number that only payment network servers can do anything with. Tokens are useless for data thieves.

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