What is The Best Credit card in Switzerland for 2021?

Mr. The Poor Swiss | Updated: | Save, Switzerland
What is The Best Credit card in Switzerland for 2020?

(Disclosure: Some of the links below may be affiliate links)

A credit card is a powerful personal finance tool. But it is only a good tool if used correctly. And unfortunately, many people are not using credit cards correctly.

The first important thing is to choose a card with no annual fee. Contrary to what credit card companies want you to believe, it is often better to get a credit card with no fee and smaller cashback than an expensive card with a lot of cashback. The important thing is to do your research and compare it with your actual credit card spending.

But there are many options, making it difficult to find the best credit card in Switzerland. So, this article will explore the different credit card options that are available in Switzerland.

I am going to assume that you carry no credit card debt and always pay your balance in full. Otherwise, it is an entirely different issue!

What do I use my credit card for?

To choose the best credit card for your, you need to know how you are using it. For this, we are going to use my case as an example. So, what do I purchase with my credit card?

I use my credit cards for all my shopping in Switzerland. As long as the shop accepts credit cards, I tend to use one. Except for tiny amounts when I have the cash on me. Why? The reason is simple, I am trying to maximize my cashback bonus.

I also use them for all my online shopping. It means online shops and travels mainly. If there is no fee for using a credit card, I use it. Again this is to get some money back. The only case I am a bit more careful is when I cannot pay in CHF. In these cases, you pay a penalty fee for foreign currency transactions. We will discuss this in detail later in the article.

Never use your credit card to withdraw money! They all have terrible fees for withdrawal. Your debit card is here to withdraw money. And there is no bonus on the money you withdraw. Therefore, there are only disadvantages.

I have checked my credit card statements for the last 12 months and summed my expenses. I have spent around 15’000 CHF on my credit card. Of those, I spent around 5000 CHF in foreign currencies. I will use this as the base to compare different credit cards.

Keep in mind that I am not a big spender. We do not spend that much overall, and only a small portion of our expenses can be paid with credit cards.

And since we talk about credit cards, it is probably important to mention: Never carry a credit card debt! You will pay huge interest rates on any credit card debt. Always pay your balance in full at the end of the month. There is no such thing as a credit score in Switzerland. Do not try to optimize your credit.

PostFinance MasterCard as an example

Let’s analyze the credit card I had before I realized it was bad. We will take this card as an example (not a great one!).

I had a MasterCard Standard card from PostFinance. I was paying 50 CHF per year for it. The cashback bonus was 0.3%. That means that for every 1000 CHF I spend, I get 3 CHF back. And I have to pay 1.2% for transactions in foreign currencies (USD and EUR for me). I was with PostFinance for a long time. And I used the credit card they offered me without really comparing. This is a mistake that many people are making.

Let’s see how much was costing me for one year:

  • Bonus: 15’000 x 0.3% = +45 CHF
  • Annual fees: 50 CHF = -50 CHF
  • Foreign fees: 5’000 x 1.2% = -60 CHF
  • Total: 45 – 50 – 60 = -65 CHF

I know I should compute the bonus before the transaction fees. But it makes a 50 cents difference. So it is better to keep it simple ;)

So each year, my credit card was costing me 65 CHF. I would have been better off using a free card with no cashback. All my cashback money was paying my fees. Let’s see if we can do better with other credit cards.

To break even with this card, you will need to spend 16’666 CHF per year and not use it for foreign fees.

Other PostFinance credit cards

PostFinance offers other cards as well. All their Visa offers are the same as their MasterCard offers, so let’s focus on the MasterCard offers:

  • MasterCard Gold: For 90 CHF a year and with 0.5% cashback. This would cost me 75 CHF  a year.
  • MasterCard Platinum: For 250 CHF a year and with 0.5% cashback. This would cost 235 CHF a year.

Unfortunately, I cannot have better fees by changing for another offer from PostFinance. So, we need to look at other banks and their credit card offers.

Other bank credit cards

Since I already had the best fit at PostFinance, let’s see how it compares with other banks. I am only going to consider real cashback. This is cash you are sure you can spend. Most of the other bonus systems are too dependent on your shopping style.

Let’s see the cheapest cards we can find:

  • UBS Basic MasterCard: No fees (for 24 transactions per year), no bonus, and 2% foreign fees: cost 100 CHF per year
  • UBS MasterCard Standard: 100 CHF per year, no bonus, and 1.75% foreign fees: cost 187.50 CHF per year
  • Credit Suisse MasterCard Standard: No fees (for more than 10000 CHF per year), no bonus, and 2.5% foreign fees: cost 125 CHF per year
  • Viseca MasterCard Silver: 100 CHF per year, no bonus, 1.75% fees: cost 187.50 CHF per year
  • Valiant MasterCard Silver: 100 CHF per year, no bonus, 1.75% fees: cost 187.50 CHF per year

All these cards are more expensive than the PostFinance card! And these are only the cheapest ones. There are some much more expensive cards out there. For instance, the UBS MasterCard Platinum would cost me 587.50 CHF per year.

Moneyland Comparators

Moneyland offers independent comparators for many services: telecom, mortgages, insurances!

Find exactly what you need with Moneyland!

Again, no better choice for me here. If you do not want to do the math yourself, you can also use the comparator from moneyland. But I believe it is almost always better to do the research yourself. You will avoid finding biased data.

Now that we have considered banks, we can look at alternatives. And we will see that the best credit cards is not with banks.

Best credit card – Migros Cumulus

Best MasterCard in Switzerland
Cumulus Mastercard
Free

The Cumulus MasterCard is a free credit card with 0.3% cashback. This is currently the best Swiss credit card.

Migros and Coop are the biggest retailers in Switzerland. Together, they own around 70% of the retail market in Switzerland. And, unsurprisingly, they offer a very similar points system. Migros offers Cumulus points while Coop offerSuperpoints.  For both, 100 points are worth 1 CHF.

Migros will give you cash coupons for the values of your points as soon as they reach 500 points. You can use these as cash without limitations in all the shops operated by Migros. For Coop, it is a bit less practical since you need to use the points for some of the services.  But, sometimes you can have a bit more value for your points.

Because I prefer Migros and their cashback system is more practical, I will focus on them. Their cards have the same properties. So the results will be the same regardless of the retailer. If you prefer Coop, feel free to get their credit cards.

Let’s see how much a Migros Cumulus MasterCard will cost me for one year:

  • Bonus: 15’000 x 1/3% = 50 CHF
  • Annual fees: 0 CHF = -0 CHF
  • Foreign fees: 5’000 x 1.5% = -75 CHF
  • Total: 50 – 0 – 75 = -25 CHF

My card would only cost 25 CHF a year. Compared to the 65 CHF I pay now, this is 40 CHF saved each year! This is not a lot, but I’d rather keep the money for myself!

Highest cashback – Swisscard American Express

High Cashback
Swisscard Cashback

Swisscard Cashback offers the free credit card with the highest cashback!


Use the WC40XKEXBcode to receive 40CHF for free!

If you want more cash back, you have another option: The Swisscard American Express Mastercard. This card is also entirely free and will offer you a 1% cashback. And they even have a 5% cashback for the first three months.

For a free card, this is definitely the highest cashback you can get in Switzerland. Even non-free cards do not have higher cashback. And this cashback will be counted towards your bills at the end of the year.

But there is a catch! In Switzerland, American Express is not as well supported as MasterCard and Visa. However, I found out that you can still use it in some major places:

  • All gas stations
  • Aligro, Migros and Coop shops
  • Most large shops but not Aldi and Lidl
  • You can use it on few online shopping websites

If you want to optimize your credit card usage to the maximum, the Swisscard Amex is the best credit card for cashback! But this would mean having two credit cards and not one.

For more information, I have an entire article about the Swisscard cards.

Neon for Foreign Currencies

Great Swiss Digital Bank
Neon
Free

Neon is the best digital bank in Switzerland. And it is free!

Use the F9YMGT code to receive 20CHF for free!

When you travel, you will have to pay in foreign currencies with your credit card. With most credit cards, this is very expensive. But fortunately, there are some ways to do that for free.

Neon started offering free purchases abroad with their Mastercard. It could be awesome to save on all the currency transaction fees. You could use this credit card only for foreign currencies. In my case, this saves me about 100 CHF per year.

Revolut

Revolut offers a credit card without any fees for currency exchange.

Another idea is to use a prepaid credit card such as Revolut. They offer a prepaid credit card. It has free foreign currency transactions for online payment. You can even withdraw small amounts anywhere in the world for free. And you can also have a physical credit card for a small fee. It is a great service.

However, there are problems with Revolut. First, topping up the card is not instant. It is a normal bank transfer. It takes at least one working day. I do not want to go to the trouble of topping up the card every time I need it. I could consider moving a large amount to cover small regular fees in foreign currencies.

Another problem with Revolut is that it is expensive during the weekend. You need to read the small prints because not everything is free with a Revolut card. Finally, there were many issues with Revolut, where accounts have been closed. So, use Revolut at your own risk. For me, Neon is now the best credit card for foreign currencies.

To help you choose, I have an article about Neon vs Revolut.

In both cases, you may still have to get another card in some cases. Indeed, both Neon and Revolut are prepaid cards. And some services are not allowing prepaid cards.

Why no travel hacking credit card?

Miles And More Credit Cards
Miles And More Credit Cards

Finally, the last option for a credit card is to use it for travel. You can read so many stories on how people are traveling for free using their credit card bonuses. These are mainly stories in the United States. In Switzerland, the best travel points credit card is the Swiss Miles & More MasterCard. This credit card will give you one award mile for every 2 CHF spent. And you will also get 1000 award miles every year. All this for 120 CHF per year. If we run the computation once again:

  • Bonus: 15’000 x 50% = 750 + 1000 = 8500 miles
  • Annual fees: 120 CHF = -120 CHF
  • Foreign fees: 5’000 x 2.5% = -125 CHF
  • Total: -120 – 125 = -245 CHF

The credit card would cost me 245 CHF per year and give me 8500 miles. The most expensive flight I take is to go to Hong Kong for around 800 CHF. I need 70’000 miles to get it for free. Then, I would get it free after 8.23 years. At which point, I would have spent 2000 CHF in fees. Not a very good deal! Even including the 20’000 welcome miles, it would not be interesting. I do not spend enough on my credit card for this to be interesting. And the foreign fees are way too high.

Note: You can earn more points with the Swiss Miles & More American Express. But it is not well supported in Switzerland.

Do I really need cashback?

No, not really. Getting cashback on your credit card is just a small optimization. If you are a reasonable spender, like me, it will not make a huge difference in the long-term.

On the other hand, you need a free credit card and a way to cut foreign exchange fees! It is important to cut your expenses!

With my level of spending, I make between 50CHF and 100CHF per year on cashback. So, it is more important to cut my credit card spending than to optimize my cash back. Now, if you can spend more on your credit card (with cashback, so no foreign currencies), it could be interesting for you.

So, if you really want to keep it simple, use one free credit card! It is perfectly fine. I am currently using three credit cards, but I am strongly considering getting rid of my Amex. The benefits are minimal overall, and it means one more card in my wallet, and it means having to choose between cards.

For me, the best single card would be either using Neon directly or the Cumulus Mastercard. But Neon would have the advantage of allowing you a single card for every purchase (domestic and foreign). The Cumulus Mastercard would have the advantage of being a real credit card (emergency money, and sometimes prepaid cards are refused).

So, it is up to you to decide how far you want to optimize!

Conclusion

Currently, the best credit card in Switzerland is the Migros Cumulus MasterCard. This card saves me 40 CHF each year compared to my previous credit card from PostFinance. Of course, this is only the best credit card for me! If you spend more (or less), it may be different.

If you want higher cashback, you can use the Swisscard American Express. However, you will need two cards because many shops do not take American Express.

As you can see from this article, there is not much you can do with Switzerland’s credit cards. The best you can do is minimize your fees. Take a credit card without an annual fee. And also minimize spending in foreign currencies.

If you can use a credit card in a shop, use it! If you can use a credit card online without extra fees, use it! Do not think of traveling for free using your credit card unless you spend enormous amounts of money on it. In which case, you are probably not on the correct blog.

One other thing you can do is to change your credit card often. A lot of services are waiving the fees for the first year. And a lot of services are also increasing cashback in the first year. Or giving you a welcome package. If you do the math and be careful, it is possible that you can save a bit more money with this.

However, be very careful! And do not forget to cancel the card before the second year. And there could be some minimum time for the contract. Personally, I do not think it is worth the trouble.

If you want to keep it simple, I recommend using a Neon Mastercard or a Cumulus Mastercard (but not for foreign currencies). For more information, read my Review of Neon.

If you want to go all-in like me, you should read about my credit card strategy! This will minimize your fees (the most important) and also maximize your cashback. But this will require you have to have several cards!

What about you? What credit card do you use? Do you have any tips to maximize cashback?

Mr. The Poor Swiss is the author behind thepoorswiss.com. In 2017, he realized that he was falling into the trap of lifestyle inflation. He decided to cut on his expenses and increase his income. This blog is relating his story and findings. In 2019, he is saving more than 50% of his income. He made it a goal to reach Financial Independence. You can send Mr. The Poor Swiss a message here.

65 thoughts on “What is The Best Credit card in Switzerland for 2021?”

  1. Dear Mister,

    I had also done a study on the cost of credit cards, and I have come to the same conclusion as you, for my foreign transactions, since the beginning of the year, I have replaced Revolut by neon. The only problem is car rentals abroad, where you often need a credit card instead a debit card.

    The 1.2% cost on foreign fee you mention is one thing, but the biggest difference is on the exchange rate. For example, neon versus Cornèrcard, Postfinance is about 3%.

    I totally agree with you, don’t be blinded by the cash back, but look at the overall costs.

    I take this opportunity to thank you for your site that I appreciate.
    Congratulations for your new job and I wish you an excellent continuation.

    1. Hi Wüthrich,

      Yes, there are some issues with debit cards for things such as hotels and rentals. For now, I have not found a good way to deal with them.
      Absolutely, the spread on the exchange rate can make a huge difference as well. The total fees on foreign exchange are much higher than any possible cashback.

      Thanks for stopping by and thanks for your kind words!

  2. Hi The Poor Swiss, Thank you for your articles. I am new to Zurich and please advise – what is the benefit of having a Swiss credit card if there is no such thing as a credit score? Is there any other benefit, if you are not interested in Cashback etc. ?
    Thanks

    Manisha

    1. Hi Manisha,

      If you do not care about cashback, then the only advantage would be to be able to pay on internet on some websites. Many websites take other means, but there are some websites that only take credit cards.

      Thanks for stopping by!

  3. Hello hello,
    Once again, I’m very happy to read you further.

    I was applying for the Cumulus credit card and got a question… not sure if you already explained it somewhere.
    Is there a way to get an overview of your expenses? Like the cockpit dashboard from PostFinance where it splits Groceries, Dining out, etc? Or how do you keep track of the things you pay (either with Cumulus Mastercard or the Swisscard AMEX)? You document everything manually from all the cards/accounts? If yes, do you use a tool for that?

    Cheers, and thanks :)
    Rita

    1. Hi Rita,

      No, there is not. The web interface from the Cembra bank is really bad! It must be at least 10 years old. You can only access monthly statements.
      I write down all my expenses on my budget every day. I do not use a tool to download my expenses from my credit card or accounts. Every time I spend the money, I write it down on the same day.
      It may sound like much but honestly, it takes me a few minutes each day (if I spent something) and my budget is always up to date.

      Thanks for stopping by!

      1. Dear Mr The Poor Swiss,

        A follow up question to Rita’s post if you do not mind me asking… I am interested in the Cumulus Mastercard but wonder how one can get monthly statements for card charges as I cannot find this information on their website – from your answer it sounds like one does not have to install an app but is given an online account on the Cembra bank webpage, is this correct? Do they give you those details when you receive the card? Is this done automatically or by default do they opt you in for paper statements which they charge you for, which you have to opt out of (how?)? Thank you for your help!

        1. Hi Tara,

          You can get a monthly statement from the cembra portal, from your browser. Everything is done from this portal.
          It will be done by default once you create an account for Cumulus Mastercard.
          I do not remember having to opt out, but you will have to check that out.

          Thanks for stopping by!

  4. Hi –

    amazing post & comparison. This is extremely helpful.

    I understand your strategy when it comes to shopping in CH or on-line (in whatever currency), but what do you do if you are often in Europe (say France :) ) and need to withdraw EUR ? CH Credit/Debit Cards are a no go (heavy fees) and Revolut has 200 EUR/month limit …

    I am keeping a French carte blue which is very convenient for in-store payments in Europe and withdraws in EUR, but the bank kills me with 25 EUR/quarter fees as I am no more resident in France, so I am thinking about an alternative strategy : )

    thanks !
    Lux

    1. Hi Lux,

      As you said, every payment is made with Revolut (or an equivalent: TW, N26, Neon now!).
      But withdrawing with Revolut abroad is bad (only 200 EUR). If you are using N26, there have five free withdrawals in Euros per month. This is really good for Europe.
      Generally, I am avoiding cash as much as possible. But I take some euros from Switzerland with me. The exchange rate for EUR in Swiss banks is generally decent.
      If you need euros a lot, I would recommend you try N26 or load up on cash from Switzerland. But not too much either, it’s not safe ;)

      I hope that helps :)

      Thanks for stopping by!

  5. Hi!
    Just a small comment here. Revolut now offers a Swiss IBAN for CHF so you can top up your Revolut card for free.

    Just watch out on the weekends. Revolut adds a mark-up to their exchange rates on the weekends so I recommend either exchanging money inside Revolut during the weekdays or the Transferwise borderless card for a constant experience.

    Regards!

  6. It might worth to check TCS card. It is “free” if you have a membership. It worth to have membership in case you drive. So it is free :) if you drive. Now you have a task to compare tcs membership with generaly car insurance because generaly also includes some kind of assystance servises. All of these only in case you drive. So you will spend a lot on driving anyway. Not good :(

    1. Hi baseldon,

      The TCS Travel Mastercard Gold is not free at all. It is 100 CHF per year. I have talked about it earlier. It is a good card, but only if you spend a lot with your credit card.

      The other credit card by TCS the Member card is free but has no cashback and therefore is strictly inferior to Migros Credit Card.

      I do drive, but I do not have TCS insurance anymore. It was duplicate of my car insurance.

      Thanks for stopping by :)

  7. Hi there. Excellent articles. I just wrote you in Twitter as well. I do not know if you reply there as well.
    I am a bit confused but your articles are very helpful. I realize that I am actually losing slowly my money and i need to put some thinking and do something about this. Revolut is clearly a very good solution for people who are travelling a lot. I understand that it makes sense to use it abroad and not for domestic purchases. Correct? The credit card for migros seems also a good solution. However, when I moneyland to compare credit cards (costs, benefits etc) the first result I get is the CASHBACK World Mastercard® or Visa. However, I haven’t seen any comment or any reference made by you about this alternative. Why? I am just trying to understand which is the best (relatively) solution. That is all. I am not promoting the other card or something like this :) Thanks!
    Theo

    1. Hi Theo,

      I generally try to answer on Twitter as well, yes. But I am more reactive on the comments on the blog.

      You are right, you should only use Revolut for everything that is not in CHF. You can use it in CHF but you will lose on the cashback.

      As for Cashback card, the reason is simple. They have 0.5% of cashback until the end of 2019. So for 2019, it is better than Migros/Coop cards. Starting next year, the cashback will be of 0.25% and therefore Migros/Coop cards will be better. If you select 10 years for the comparison and Switzerland-only user, you should find Migros being the best card. If you want to optimize for the short-term, you can take cashback for one year but be prepared to change card at the end of the year.

      I hope that helps :)

      Thanks for stopping by!

      1. Hi. Thanks for the reply. Here and also in Twitter :)
        So, basically, what is your opinion or preference when you need to use a credit card (not pre-paid, but credit) abroad. Let’s not forget that we are all poor here and some times credit cards abroad are needed. I am not talking for urgent situations but in general, when someone is going on holidays and as usual at this periods the expenses are higher. Are you using Migros/Coop cards?

        Thanks again for the help.
        Theo

    1. Hi Draconian,

      Thanks for the suggestion. I just checked it. Isn’t this card 100 CHF per year and have zero cashback? It seems strictly worse than the MBudget one. Did I miss something? I checked the CornerCard Visa Classic.

      Thanks for stopping by :)

  8. First of all, congratulations on your recent marriage. All the best to you and your wife.

    Regarding credit cards, there is one aspect you did not take into consideration: The poor exchange rate Swiss banks apply. This comes as a hidden fee on top of the “offical” markup of 1.2% – 1.75%.

    I have both Revolut and TransferWise and I would recommend you to get the TransferWise borderless account that was launched recently.

    Revolut looks good on paper but there are several issues, such as topping up from Switzerland, not transparent exchange rates and very slow customer service.

    Do get a TransferWise account, however. It’s free, it’s great to transfer money abroad and to spend in foreign currencies. The exchange rates are very good.

    1. Thank you very much The Poor Thurgovian (haha :) )

      I did not take it into consideration indeed. It’s very hard to compare it.

      Does TW offer a credit card ? For foreign currencies, I’m mostly using my credit online. Can I do that with TransferWise ? I read that I could not. They have a Swiss IBAN, right ?

      Thanks for stopping by :)

      1. TW offers a debit Mastercard. It’s fine to use both offline and online. And yes, they have a Swiss IBAN, so topping up is free. Try it, you have nothing to loose.

        1. Hi The Poor Thurgovian.

          I’ve taken a look at TW debit cards. It seems great, but it’s not free:

          Only pay a small conversion fee when you convert your money — typically between 0.35% and 1%

          With this I will have no bonus and still have to pay for transactions. I don’t think it’s worth changing credit card for me.

          Am I mistaken ?

          1. No, you are rigth unfortunaltely. TFW was for many monthy the very best, everybody hyped Revolut, but TFW was (and is) much better. The Multi currency account and credit card is unique. Still.
            Few people know.
            I also was suprised doing my last transaction with TFW that the fees did rise so much. They announced it, but it is higher than I expected.
            As they really live complete transparency, they show you with every transaction the exact amount of fee.

          2. Hi Rasmuss,

            As a company, TW is much better than Revolut indeed. But it’s true that they increased significantly some of their fees. In most cases, it’s still very affordable. But when we compare with the free fee of Revolut, or even with the Premium account of Revolut, it’s sometimes getting a bit high. Nevertheless, I would not trust much money with Revolut.

            Thanks for stopping by!

    2. A small additional input: Here’s what I do to keep my abroad spending fee-free:

      1) Order Transferwise Debit Card
      2) Oder Revolut Debit Card

      3) Transfer Money from your bank account to the TW borderless account. This money will now be available on your TW card.
      4) Top up Revolut with your TW card.

      => By proceeding with these two steps, there are no fees, because Revolut adds no charges for card issues in EEA. The TW card is, to my knowledge, the only (or one of the very few) cards that are issued in EEA and support CHF topping up.

      5) For purchases abroad, always use revolut.

      1. Thanks Pablo for this update :)

        I’ve read about this strategy on the Revolut forum. It seems a like a great way to top up Revolut without fees. But, honestly for now it seems a bit overkill for me! I will wait for now until they have a CHF IBAN.

        Thanks for the input :)

        1. Hi. Revolut now have CH IBAN.
          I just moved in 🇨🇭 and was reading many of your reviews and other websites on credit card/bank account use.

          – Neon seemed to be perfect but actually if you still pay some taxes abroad, you can’t open a bank account with them.
          – Zak seems nice but I can’t download their application as my Google play store seemed to be stuck at my previous country and Zak app is only available in Switzerland app store.

          I used Revolut before but as they recently moved UE accounts to Lithuania, but not Switzerland account, I had to delete this account and create a new one in Switzerland.
          And I see there is a CH IBAN :)
          You just need to put a precise reference to do national free transfer.

          So that’s great news. I can transfer money from Swiss account where I don’t have credit card (80Frs a year they were asking, I said no thx, used not to pay anything for my credit cards in France lol) to Revolut. Then use it with my revolut virtual card (or physical if you pay the delivery)

          I’m hesitating to get the coop credit card too. Seems great option for national purchases. And only use my revolut one for foreign purpose..

          I dropped the cashback Amex option. Too many cards and psychologically tells you to spend money ^^

          1. Hi Poor Guy :)

            Yes, Revolut has added a CH IBAN since the first version of this post, it makes it more interesting. But I would still not trust them with a lot of money.

            As you are experiencing, having a Swiss bank for a foreigner is a big pain. The coop (and Migros) cards are good options for domestic purchases.

            I completely understand not wanting to have too many credit cards. I am also considering getting rid of my Amex, I have too many cards in my wallet now. This kind of small optimization will not matter much in the long-term. It’s fun, but it’s a bit tiring to have many cards :)

            Thanks for stopping by!

  9. When I first moved to Switzerland, I compared all the Swiss credit cards and I realized that it was better to just continue using my Canadian credit card since it offered me a higher cash back rate, no foreign exchange fee, and no annual fee. This post confirms what I observed, Swiss credit cards are a rip off!!

    1. Haha, I’m not very suprised by your experience!

      Every time people talk about Swiss banks being the greatest. But the more and more I compare them with foreign banks, they really suck ass. We have almost no interest, almost no cash back and they only offer extremely expensive funds…

      Thanks for stopping by :)

    2. Hi I have also just same to Zürich from Canada, I considered to used my Canadian credit card but how do you pay the credit bill? Can you pay for it using CHF in Switzerland?

    3. I did the same analysis and came to the conclusion that all Canadian credit cards are ripping you off with the forex rate used. Yes, you don’t pay any forex fee, but the rate is terrible.

      1. Hi Tom,

        That’s a good point. The spread is also very important. Some credit card companies do not charge you a fee, but they add a large spread to the exchange rate. In the end, it’s the same thing as a fee, but the client does not see it…

        Thanks for stopping by!

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