The Volksbank Raiffeisenbank YoungCard offers young individuals a hassle-free, cost-effective way to manage finances while enjoying a host of modern features. Tailored specifically for students, apprentices, and individuals aged 18 to 27, the YoungCard bridges the gap between financial independence and accessibility, making it an ideal choice for a younger audience.
Main information about the card
The YoungCard is a no-annual-fee credit card designed to cater to the dynamic lifestyle of students and young professionals. It allows users to make cashless payments at over 30 million locations worldwide and withdraw cash from around one million ATMs. The card is equipped with advanced features like real-time notifications through the VR Banking app and secure internet transactions via the 3D Secure protocol.
Key features include:
- Zero annual fees
- Free withdrawals abroad (conditions apply)
- Customizable credit limit starting at €1,000 with up to four weeks of interest-free usage
- EMV chip technology for enhanced security
- Compatibility with contactless and mobile payments through Android and Apple devices
Qualification requirements
Eligibility for the YoungCard is restricted to individuals aged 18 to 27 who meet the following criteria:
- Must be a student, apprentice, or involved in a voluntary social year
- Hold a VR-MeinKonto, the free current account from Volksbank Raiffeisenbank
- Reside within the serviceable area of Volksbank Raiffeisenbank
This focus ensures that the card remains a practical and exclusive solution for its intended demographic.
Benefits
The YoungCard is more than just a financial tool—it’s an enabler for convenience and security. Whether traveling, shopping online, or paying bills, users can rely on its robust feature set to simplify their financial management. It provides:
- Cashless payment options that eliminate the need for carrying cash
- Rapid transactions through contactless technology
- Comprehensive security features, including fraud protection and push notifications
- Discounts and cashback benefits through partnerships, such as a 4% refund on vacation bookings made via Urlaubsplus
Additionally, cardholders gain access to the VR Entertain portal, which offers ticket discounts, concierge services, and exclusive entertainment deals.
Pros
The YoungCard combines affordability, convenience, and safety in one package, tailored for young users seeking a reliable financial companion.
List of Pros:
- No annual fees
- Free cash withdrawals abroad
- Four-week interest-free credit usage
- Real-time transaction alerts
- High security with EMV chips and 3D Secure
- Discounts on travel bookings and entertainment
- Flexible credit limits suited for young users
Cons
While the YoungCard shines in affordability and features, some limitations might not suit all users.
List of Cons:
- Limited to individuals aged 18-27
- Requires a VR-MeinKonto account
- Small charges for domestic ATM withdrawals
- Foreign exchange fees outside the EU (1.9% per transaction)
- Inflexibility for older users or those outside the eligibility criteria
How to apply
Applying for the YoungCard is straightforward and can be completed online or in-person. Here’s how:
- Open a VR-MeinKonto account: If you don’t already have this free account, visit your local Volksbank Raiffeisenbank branch or apply online.
- Gather documentation: Ensure you have proof of enrollment in school, university, or apprenticeship.
- Complete the application: Fill out the credit card application form, available online or at the bank.
- Verification: Submit your application along with the required documents for review.
- Approval: Upon approval, the YoungCard will be issued and mailed to your address.
Is the card worth it after all?
The YoungCard is a fantastic choice for young individuals who value affordability and flexibility. It’s designed to cater to the unique financial habits of students and apprentices, providing access to essential credit facilities without the burden of high fees. The additional perks, like entertainment discounts and travel benefits, elevate its appeal, especially for those with an active lifestyle.
However, it may not be ideal for individuals who are older or seeking higher credit limits. Additionally, frequent travelers outside the EU should consider the foreign exchange fees when budgeting.
Conclusion
The Volksbank Raiffeisenbank YoungCard is a well-rounded financial product that meets the needs of its target demographic. Its fee-free structure, extensive security features, and added perks make it a compelling choice for students and apprentices. While it does have minor drawbacks, the overall benefits far outweigh the cons, making it a worthy consideration for young adults seeking their first credit card.
