PAYBACK American Express 2026: Fees, Points, Bonus

Quick answer: The PAYBACK American Express has a permanent €0 annual fee and earns 1 PAYBACK point per €3 of card spend, plus the regular partner points at PAYBACK partners. Through the referral link you get up to 4,000 points until 15 November 2026: 2,000 for your first payment plus 2,000 once you spend €500 within the first 2 months. Costs only arise abroad (2% foreign currency fee) and for cash (4%, min. €5). You convert the points 1:1 into Miles & More miles.

“PAYBACK AMEX” is one of the cards I get asked about most — usually with the same questions: What does it really cost? How many points does it earn? Can you withdraw cash with it? And how do I get rid of it again? Here are the answers — with the figures from American Express’s official price and service schedule (as of November 2026).

If you are looking for all free cards compared instead (including Miles & More Blue), read the guide Free Credit Cards for Earning Miles.

What is the PAYBACK American Express card?

The PAYBACK American Express is a credit card from American Express that also works as a PAYBACK card. Your PAYBACK number is printed on the back. So you collect two kinds of points: card points for every payment (including at merchants that are not PAYBACK partners) and — if you identify yourself with PAYBACK at a partner — additionally the regular partner points. PAYBACK calls this “double earning”.

Feature	PAYBACK American Express (as of November 2026)
Annual fee, main card	€0 (permanent)
Supplementary card	1 supplementary card included
Card points	1 PAYBACK point per €3 of spend (excluding gas stations)
Welcome bonus	up to 4,000 points (promotion until 15 November 2026, details below)
Foreign currency fee	2% of the foreign currency transaction
Cash at ATMs	4%, min. €5, max. €750 per 7 days
Billing	monthly, full amount by direct debit
Insurance	Extended return protection (90 days)

Apply for the PAYBACK AMEX* · Official information without referral link: payback.de

What does the PAYBACK AMEX really cost?

According to the price and service schedule, the main card has no annual fee, one supplementary card is included, and replacement cards are shipped at no charge. Costs only arise in three situations: when paying in a foreign currency, when withdrawing cash, and when you don’t pay your statement on time.

The details (as of November 2026):

• Use abroad: a 2% fee on every transaction in a foreign currency, plus the American Express exchange rate. Within the eurozone no foreign currency fee applies, because you pay in euros.
• Cash: 4% of the amount, at least €5 — more on that below.
• Late payment: default interest of 5 percentage points above the base rate, a flat €8 per reminder from the second reminder onward, returned direct debit €1.20.

My advice: For trips outside the eurozone, the PAYBACK AMEX is not a good choice because of the 2%. In everyday use in Germany, on the other hand, it costs you nothing as long as you pay on time.

There is also PAYBACK American Express PLUS — an optional add-on package for €35 per year that you can activate in your online card account. The card itself stays free; PLUS is a voluntary upgrade (see FAQ).

How many PAYBACK points does the card earn?

You get 1 PAYBACK point per €3 of card spend. You earn these card points wherever American Express is accepted — at PAYBACK partners, the regular partner points come on top if you identify yourself with your PAYBACK number or PAYBACK PAY.

PAYBACK gives its own example: a €3,000 trip booked with a PAYBACK partner earns 1,000 card points (1 per €3) plus 1,500 partner points (1 per €2) — 2,500 instead of 1,500 points in total.

Important exceptions that earn no card points:

• Gas station transactions (you still get the partner points through PAYBACK, e.g. at Aral)
• Cash withdrawals of any kind
• Fees, interest and late-payment charges
• Charges related to financial services

Important at partners: At 1 point per €3, the card rate is lower than the typical partner rate of 1 point per €2. The card therefore shows its strength mainly at merchants that are not PAYBACK partners. REWE, for example, is not a PAYBACK partner but does accept American Express — there you only earn through the card. You can see which merchants are partners in the PAYBACK Partner List 2026. How to earn extra with coupons at partners is explained in Collecting PAYBACK Points: 11 Tips.

A practical side effect: as long as you hold the card and take part in the PAYBACK program, your points don’t expire. They only expire if you collect no points at all for three years.

How big is the welcome bonus?

Through the referral link*, applications until 15 November 2026 get two tiers:

1. 2,000 PAYBACK points for the first payment with the card
2. 2,000 more points if you spend at least €500 in total within the first 2 months after the card is issued

That makes 4,000 points together. According to the terms, the bonus is credited 4 to 6 weeks after the card is issued.

Three conditions you should know:

• Only new customers get the bonus: anyone who was the primary cardholder of the same German card product in the last 18 months does not qualify — even if the contract was cancelled or withdrawn.
• If you cancel the card within the first 12 months, your claim to the bonus lapses retroactively.
• The promotion ends on 15 November 2026. After that, the additional bonus no longer applies; the standard bonus that then applies is shown on the application page. On 7 November 2026, payback.de listed 1,000 extra points for direct applications.

What limit does the PAYBACK AMEX have?

The PAYBACK AMEX has no fixed, publicly stated credit line. According to the membership terms, American Express normally does not limit spending, but may set a temporary or permanent spending limit at its reasonable discretion — you will be notified, and it includes the supplementary card. You can see your current limit in the Amex app or ask customer service.

Important for your understanding: the card works on the principle of a charge card. The full monthly amount is collected from your current account by direct debit on the due date. Installment payments are not provided for in the price and service schedule — so you only spend what is in your account on the debit date.

Can you withdraw cash with the PAYBACK AMEX?

Yes, but it isn’t worth it. According to the price and service schedule, you can withdraw up to €750 within 7 days at ATMs (the limit applies to the card account including supplementary cards). The fee is 4%, at least €5 — so for €100 you pay €5, for €500 already €20. Cash earns no points. You’re better off getting cash with your debit card.

PAYBACK AMEX or dm PAYBACK AMEX: what’s the difference?

Both cards are permanently free and earn 1 point per €3 everywhere. They differ in two respects: the bonus and shopping at dm. The bonuses are currently not the same.

Criterion	PAYBACK AMEX	dm PAYBACK AMEX
Annual fee	€0	€0
Welcome bonus	up to 4,000 points (2,000 first payment + 2,000 from €500 in 2 months, until 15 November 2026)	1,000 points (permanent)
Card points in general	1 point per €3	1 point per €3
Card points at dm	1 point per €3	2 points per €3
Gas stations	no card points	no card points
Supplementary card	1 included	1 included

My verdict on this: If you shop at dm regularly and a lot, the dm PAYBACK AMEX* is interesting. For everyone else, the regular PAYBACK AMEX is the better choice because of the higher bonus until 15 November 2026. Everything about dm coupons is in dm PAYBACK Points: Coupons & Strategies.

How do PAYBACK points become airline miles?

PAYBACK points can be converted 1:1 into Miles & More miles. To do this, you link your PAYBACK account with your Miles & More account once and then trigger the transfer manually (from 200 points). This turns 4,000 bonus points into 4,000 miles.

Your biggest lever is timing: 1 to 2 times a year there are transfer bonus promotions with 20 to 25% extra miles. If you leave your points until then, you get more miles for the same points. How exactly that works and why I don’t use the automatic miles subscription is in the PAYBACK to Miles & More Transfer Bonus Guide.

Who is the PAYBACK AMEX worth it for?

The card is worth it for you if you want to get into collecting points without an annual fee and already use PAYBACK. It is ideal as a second card for merchants that are not PAYBACK partners, and it protects your points from expiring along the way.

It is less suitable if you often pay outside the eurozone (2% fee), fill up a lot (no card points at gas stations) or are after big welcome bonuses — American Express’s premium cards are in a different league there. Which AMEX fits your profile is covered in the decision guide: Which AMEX Card Is Right for Me?.

I want to clear up one myth: The PAYBACK AMEX does not “build credit”. The principle “first a starter card, then the premium card will be approved” comes from the US and does not apply in Germany in that form. A credit check takes place when you apply; every credit card inquiry shows up at SCHUFA. So don’t apply for several cards at once — only for the ones you will actually use. The honest advantage of the free card: you learn, without risk, how statements, points and transfers work.

Tip from the Premium Handbook: For me, the PAYBACK AMEX is one building block of a larger setup. Which cards I use for what, and in which order, is in the Premium Handbook.

How does the login work?

There are two separate logins. You can see transactions, statements and your card limit in the American Express online card account (americanexpress.de/konto-online) or in the Amex app. You manage your points balance and coupons at PAYBACK (payback.de/login) or in the PAYBACK app.

Frequently Asked Questions

Is the PAYBACK AMEX really free?

Yes. According to the price and service schedule, there is no annual fee for the main card, and one supplementary card is included. Costs only arise for foreign currency transactions (2%), cash withdrawals (4%, min. €5) and late payment. The optional PLUS add-on costs €35 per year, but it is voluntary.

Can you withdraw cash with the PAYBACK AMEX?

Yes, up to €750 within 7 days. It costs 4% of the amount, at least €5, and earns no points. For cash, your debit card is almost always the cheaper option.

How do I cancel the PAYBACK AMEX?

The contract has no minimum term and can be cancelled at any time with one month’s notice. The easiest way is via American Express customer service (service hotline 069 9797-1000). Note: if you cancel within the first 12 months, your claim to the welcome bonus lapses retroactively. If your participation in the PAYBACK program ends, the card contract also ends automatically.

What is PAYBACK American Express PLUS?

PLUS is an optional package for €35 per year. With it you earn 2 points per €3 up to €20,000 in annual spend (above that, 1 point per €3 again), can collect extra points monthly via spending thresholds (250 points from €3,500, 1,000 points from €5,000 in the billing month) and receive a coupon and voucher package every year. It renews automatically and can be cancelled with one month’s notice before the end of the term. Do the math first to see whether your spending covers the €35.

Does the card earn PAYBACK points for fuel?

No, gas station transactions are excluded from card points. At a PAYBACK partner such as Aral, you still get the regular partner points through your PAYBACK number.

Can I hold the PAYBACK AMEX and the dm PAYBACK AMEX at the same time?

They are two separate card products. For the bonus, what counts in each case is whether you were the primary cardholder of the same card product in the last 18 months. Whether American Express approves a second card is decided by the credit check. For most people, one of the two cards is entirely sufficient.

Can I refer friends with the PAYBACK AMEX?

Yes, American Express has a refer-a-friend program. The terms and conditions for refer-a-friend, linked on the referral page, apply.

Conclusion

In 2026, the PAYBACK American Express is one of the few credit cards in Germany that permanently costs nothing and still earns points you can convert 1:1 into Miles & More miles. At 1 point per €3 it’s no turbo, but a sensible, risk-free start — especially until 15 November 2026, while there is a bonus of up to 4,000 points. Avoid using it abroad outside the eurozone, at gas stations and at ATMs.

Apply for the PAYBACK AMEX now* — up to 4,000 PAYBACK points (promotion until 15 November 2026)

Read more:

• Free Credit Cards for Earning Miles — all free cards compared
• PAYBACK to Miles & More: Transfer Bonus Guide — when converting pays off most
• PAYBACK eCoupons Guide — multiple points at partners