Amsterdam-based neobank bunq introduced an optional credit card credit limit of up to 5,000 euros during its Update 32 event at the DeLaMar Theater, expanding its financial services across key European markets.
The feature transitions the digital bank’s popular Mastercard offering from a strictly prepaid model toward a charge card system. Initial access to the borrowing limit is restricted to a waiting list capped at 1,000 users per market in Germany, the Netherlands, and Spain.
Early Access Rollout and Eligibility Requirements
The new borrowing functionality is currently rolling out in phases to ensure controlled deployment. Eligible customers in Germany, the Netherlands, and Spain can request credit limits ranging from 500 to 5,000 euros directly through the mobile application.
Unlike previous iterations of the card that functioned entirely without credit checks, applicants in Germany undergo a Schufa creditworthiness assessment. Business credit cards are excluded from this initial deployment phase, leaving the new lending features strictly tied to personal accounts.
Charge Card Mechanics and Repayment Terms
The credit line operates under a strict charge card mechanism rather than a revolving credit model. Users cannot opt for rolling installment payments. Instead, the total balance accumulated during a billing cycle must be repaid in full on the first day of the following month.
If account balances are insufficient on the scheduled settlement date, bunq grants an eight-day grace period without charging interest. Persistent non-payment triggers progressive account restrictions: temporary freezes occur after 30 days, permanent limits lock after 60 days, and unrecovered debts transfer to collection agency PairFinance alongside credit bureau notifications after 90 days.
Integration of EPI Payments and Wero Support
Alongside the lending updates, bunq announced native support for Wero, the cross-border payment system developed by the European Payments Initiative. This integration allows users to execute e-commerce and person-to-person payments across Germany, the Netherlands, France, and Belgium without sharing underlying card credentials.
Broader availability across remaining European markets and additional user tiers will follow the initial pilot program.
Keep reading