Your cookie choices

We use necessary cookies to make this site work. With your permission, analytics cookies help us understand usage and marketing cookies support advertising.

You can reject non-essential cookies and still use the site. Change your choices anytime in Cookie settings.

Cookie policy
Cookie settings

Ferratum review

Updated September 28, 2026 · DebitCue Editorial Team · Facts checked September 26, 2026

We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings.

Our verdict

Ferratum is a credit card for people who want a revolving line rather than a fee-free everyday card, and it asks for good credit. The annual fee of €144 and an APR of 17.5% put real cost on the balance, so it suits borrowers who will clear what they spend.

Key facts

Best for
Anyone who wants a genuine credit line, has good credit, and plans to pay the balance in full each month.
Annual fee
€144 (Source, checked September 26, 2026)
APR
17.5% (Source, checked September 26, 2026)
Currency conversion fee
1.75% (Source, checked September 26, 2026)
Rewards type
None (Source, checked September 26, 2026)
Credit needed
Good (Source, checked September 26, 2026)
Card kind
Credit (Source, checked September 26, 2026)
Legal entity
Ferratum by Multitude AG (Source, checked September 26, 2026)
Headquarters
Switzerland (Source, checked September 26, 2026)
Founded
2005 (Source, checked September 26, 2026)
Support channels
Help-centre (Source, checked September 26, 2026)
Official website
global.ferratum.com

Apps and profiles

Get the app
Google Play
Elsewhere
LinkedInXTrustpilot

Pros and cons

Pros

  • A revolving credit line rather than a prepaid balance, so you borrow and repay over time instead of loading money in advance
  • An APR of 17.5% sits below the credit card median of 20.85%, so borrowing costs less than the typical card
  • The brand has operated since 2005 and the card is issued by Ferratum by Multitude AG, an established company
  • Support runs through help centre, which gives written guidance on account questions while the card is being used abroad

Cons

  • An annual fee of €144 applies, while a secured card such as Varo Believe Secured Credit Card charges $0
  • A currency conversion fee of 1.75% is higher than the credit card median of 1.85%, which raises the cost of overseas spending

Ready to try Ferratum?

Scored 8.6 / 10 by DebitCue.

See alternatives

Who it suits

  • Borrowers with good credit who want a revolving line to spread spending across a month rather than paying in full each time
  • Anyone who will clear the balance each month and still earn the money to cover the annual fee of €144
  • People who already know the brand and want its credit line and a revolving balance rather than a prepaid-style card

Who should look elsewhere

  • Anyone after a fee-free card: Wise and Chime Card charge £0 and $0 for the year and hold it free
  • Applicants with fair or poor credit, who cannot open this card and would need a secured card such as Varo Believe Secured Credit Card
  • Travellers who want a fee-free card for spending abroad, since Wise charges £0 and this card adds a conversion fee of 1.75%

Where it sits among rivals

Against the credit cards tracked here, Ferratum sits near the bottom on the annual fee, ranking 299 of 301. Borrowing costs land better, at 52 of 133 on the APR.

Fees and currency costs

The card carries an annual fee of €144, so holding it costs money every year whether or not you spend. Borrowing costs an APR of 17.5%, which matters most on a balance that carries from one statement to the next. Spending in another currency adds a fee of 1.75% on the conversion. That is a full list of what the card charges for the account itself.

How Ferratum compares

Where Ferratum is available

Available
Denmark, Finland, Germany, Latvia, Norway, Sweden, United Kingdom

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does the Ferratum credit card cost to hold?+

The annual fee is €144 for the account, charged each year you keep the card open. Some fee-free alternatives, such as Chime Card, charge $0 instead. On the cards ranked here, Ferratum sits at 299 of 301 on this measure.

What interest rate does Ferratum charge on borrowing?+

The APR is 17.5% on the credit line, which compares with a median of 20.85% across the credit cards tracked. It ranks 52 of 133 on this measure. Interest only builds on a balance that carries, so clearing what you spend each month avoids it.

Is there a fee for spending in another currency?+

Yes, a currency conversion fee of 1.75% applies to purchases made outside the card's own currency. The median across the credit cards here is 1.85%, and Ferratum ranks 97 of 181. Frequent overseas spending raises the cost quickly.

Does Ferratum pay any rewards?+

There is no rewards scheme on this card, so nothing comes back on your spending. Cashback and points are the more common models elsewhere, and 28.7% is a normal pattern across cards rather than an exception. You are paying to hold the card, not earning on it.

What credit history do you need?+

The card asks for good credit, so it suits applicants with an existing record. Among the cards tracked, 37.8% still form a sizeable share of the market, but those are not served here. Applicants with a thin file would do better with a secured card.

Who issues the Ferratum card?+

The card is issued by Ferratum by Multitude AG, a company based in Switzerland. The group has been running since 2005. It is a credit card rather than a prepaid or debit card, so the account works as a revolving line with interest.

How do I get help with my account?+

Support runs through help centre, which means written guidance rather than a direct line. Card holders who want to talk a problem through should check what their own provider offers. Help centres are also the most common support route across the cards tracked here.

How is Ferratum priced against fee-free cards?+

The annual fee of €144 is the clearest difference, and it ranks 299 of 301 on the cards compared here. Wise and Chime Card both charge £0 and $0. Ferratum gives you credit and interest, not a fee-free everyday card.

Sources

  • ferratumbank.fi/en/credit-card checked September 26, 2026

    Backs: Annual fee, APR, Card kind, Credit needed, Currency conversion fee, Rewards type, Support channels

    “€12 monthly account maintenance charge”

  • global.ferratum.com/about-us checked September 26, 2026

    Backs: Founded, Headquarters, Legal entity

    “Established in 2005 in Finland”

Compiled from 2 source pages, checked September 26, 2026. We did not open an account.

Ferratum

Anyone who wants a genuine credit line, has good credit, and plans to pay the balance in full each month.

8.6/10See alternatives