In Switzerland choosing a credit card can have a big impact on your finances when shopping abroad. A bad card can cost you hidden fees, a good card can save you money with good exchange rates and cashback. This guide will help you make the right decision for you, whether you are an occasional user or a regular traveler.
Free credit cards with cashback are popular for the financial benefits, no annual fee. But you need to know the fees when paying abroad, where commissions and exchange rates differ between banks. For families adding cards can also make it easier to manage expenses.
How to Choose the Right Card for You
Your credit card choice will depend on your spending. If you travel a lot, a card with extensive insurance and bonus on purchases abroad will be the way to go. If you only use your card for online purchases, choose a card with extra security and easy management on a secure site.
Here are the points to consider:
- Annual fee: Choose a card with no fee to save money.
- Cashback: Make sure the credit card gives you good cashback on the expenses you make regularly, like shopping.
- Spending limit: Make sure the credit card lets you manage your finances well.
- Insurance included: Some credit cards offer travel or shopping insurance which is a nice extra.
- Discounts and bonuses: Some credit cards offer discounts on specific products or services which are great for TCS members or other clubs.
- Card acceptance: American Express credit cards for example are not accepted everywhere, whereas Visa or Mastercard are. Debit cards are more accepted in Switzerland than credit cards.
- Payment method: Make sure your credit card is compatible with mobile payment services like Google Pay or that it works with a smartwatch.
3 Best Free Credit Cards with Cashback
A cashback credit card gives you back a percentage of your spend without an annual fee. In Switzerland some cards offer up to 1% cashback, which is great for everyday spend online, in store or abroad.
Several credit cards with no annual fee offer cashback without the ongoing fees. They help reduce fixed costs while still getting the same benefits as a paid card.
According to Moneyland.ch, here are the best free credit cards in 2024:
1. Cembra Certo One Mastercard
This Cembra Certo One Mastercard is a free credit card that gives you 1% cashback at 3 stores of your choice (Migros, Coop, Lidl) and 0.33% elsewhere. No annual fee, great for regular users who want to avoid ongoing fees and still get travel and shopping insurance. You can also control your expenses with an easy to use mobile app, perfect for daily management.
2. Migros Cumulus VISA
The Migros Cumulus VISA from Migros Bank is for regular Migros customers. 2% cashback in the first year at Migros, then 1% thereafter and 0.33% on other purchases. Cashback is credited in Cumulus points which can be used as payment in many Swiss shops. Since 2022 there are no more fees for foreign currency transactions, only a fee for the exchange rate.
3. Swisscard American Express Cashback
The Swisscard American Express Cashback card gives 1% cashback on all purchases and 5% in the first 3 months. Although it’s not accepted everywhere, it’s a good option in American Express accepting businesses. You can also add additional cards which is useful for family use.
Free Credit Cards from Cembra Money Bank
Besides the Cembra Certo One, Cembra Money Bank has other free credit cards like the Ikea-Family card, Confo’Card and TCS Member Mastercard (free for TCS members). These cards give you cashback in their respective networks and other benefits.
Other Free Credit Cards
In addition to the cards mentioned, there are several other free options:
Besides the ones mentioned, there are also:
- Migros Bank Visa Free: no annual fee but fees for foreign transactions.
- UBS Basic Card Visa/Mastercard: free if you do 24 transactions per year, otherwise CHF 40 from the second year.
- Loeb Visa Card (BonusCard): 0.5% cashback outside Loeb stores.
Free Credit Card Fees 😧
Even free credit cards charge a processing fee of 1.5% to 2.5% for foreign currency transactions. There are also fees for (approx. CHF 1.95 per invoice) and phone calls (up to CHF 1.90 per call for some companies).
The 7 Best Cards for Payments Abroad
Swiss neobanks like Alpian, neon or Radicant have competitive exchange rates and low or no transaction fees for international payments, while traditional credit cards have advantages like cashback but are often penalized with higher fees for foreign currency transactions.
For example Alpian and Yuh offer multi-currency accounts (CHF, EUR, GBP, USD) so you don’t pay exchange fees when paying in these currencies, neon and Radicant are very good for payments abroad with no conversion fees. Revolut has 0% exchange fees up to CHF 1,000 per month and Wise charges 0.4% to 1.3% but is still very competitive.
For cash withdrawals Revolut and Wise are the best with free withdrawals up to CHF 200 and CHF 250 per month respectively. Alpian, neon, Radicant and Yuh have higher fees for withdrawals from 1.5% to CHF 5 so these cards are not as good for frequent withdrawals.
Alpian – Visa Debit Card
Alpian offers a multi-currency debit card in CHF, EUR, GBP and USD, allowing you to avoid exchange fees whenyou make payments in currencies that you already hold.
- Annual fee: Free
- Exchange fee: 0.2% to 0.5% for payments in foreign currencies.
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neon Free – Mastercard Debit Card
Ideal for payments abroad, the Mastercard card from Neon Bank does not charge any fees on foreign currency transactions. With its intuitive mobile application, it is perfect for frequent travelers.
- Annual fee: Free.
- Exchange fees: None.
Radicant – Visa Debit Card
The Radicant debit card is a sustainable option for those who want to limit their environmental impact while benefiting from reduced fees abroad. Radicant no longer applies any fees on foreign currency transactions.
- Annual fee: Free.
- Exchange fees: None.
Revolut – Mastercard Debit Card
Revolut Switzerland is known for its interbank exchange rates, allowing international payments without fees up to a certain threshold, making it an excellent choice for those who travel often.
- Annual fee: Free.
- Exchange fees: None up to CHF 1,000 per month, then 0.5%. Additional fees apply on weekends (between 0.5% and 2%).
Wise – Mastercard Debit Card
Wise Switzerland is known for its excellent exchange rates, allowing for low-cost international payments, which also makes it a great choice for those who travel.
- Annual fee: Free.
- Exchange fees: Low fees of 0.4% to 1.3%.
Yapeal – Visa Debit Card
The Visa card from Yapeal is particularly suitable for payments abroad, with zero conversion fees and a simple digital interface for quick management of international transactions.
- Annual fee: CHF 4.90 to CHF 8.90 per month.
- Exchange fees: None.
Yuh – Mastercard Debit Card
Yuh Bank is developed by Swissquote and PostFinance and offers a multi-currency card in CHF, EUR, GBP and USD that stands out for its very competitive conversion fees, ideal for those looking to simplify their payments abroad while limiting costs.
- Annual fee: Free.
- Exchange fee: 0.95% for payments in foreign currencies.
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Here is a comparison of fees for payments and withdrawals abroad with Swiss neobanks:
| Neobank | Currency Options | Exchange rate surcharge | Withdrawal abroad at ATMs |
|---|---|---|---|
| Alpian | CHF, EUR, GBP, USD | ✅ 0.2% to 0.5% on weekends | 🚫 2.5% |
| CSX | CHF | 🚫 2.5% | 🚫 4.75 CHF plus 0.25% |
| N26 | EUR only | ✅ None | ✅ 2 free withdrawals in EUR per month, then 2.00 € each. 1.7% for other currencies |
| Neon | CHF | ✅ None | 🚫 1.5% |
| Radicant | CHF | ✅ None | 🚫 5.00 CHF each |
| Revolut | Multi-currency | ✅ 0% up to 1,000 CHF/month, then 0.5% fair usage fee | ✅ Free up to 200 CHF per month, then 2% |
| Wise | Multi-currency | 🚫 0.4 - 1.3% | Free up to 250 CHF per month ✅ |
| Yapeal | CHF | ✅ None | 🚫 1.5% |
| Yuh | CHF, EUR, USD | 🚫 0.95%, no weekend exchanges | 🚫 4.90 CHF each |
| Zak | CHF | 🚫 2% | 🚫 2% + 5.00 CHF each |
Swiss Miles & More MasterCard: The Credit Card for Frequent Travelers
The Swiss Miles & More MasterCard is perfect for frequent flyers, especially if you fly with SWISS, Lufthansa, and other airlines in the Miles & More alliance.
It combines miles accumulation, travel insurance, and exclusive benefits for loyal customers:
- Miles accumulation and bonuses
With this card you earn 1 mile for every 2 CHF spent, so you can accumulate miles fast for flights, upgrades or even hotel stays. Plus a welcome bonus in miles when you activate the card, so you can start earning miles right away. - Insurance and services
The card includes travel insurance, cancellations, delays and baggage problems. So you can travel worry free, protected in case of unexpected events. - Access to airport lounges
Some versions of the card also give you access to airport lounges, via the Miles & More program, so the wait is more comfortable for frequent flyers.
The Swiss Miles & More MasterCard is perfect for frequent flyers but there are fees to expect, an annual fee of 120 CHF and a 1.5% foreign currency conversion fee which makes it less competitive than cards like Alpian or Neon which have lower fees for international payments. Nevertheless it’s still a great option to earn miles and have extra protection when traveling.
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While the Swiss Miles & More MasterCard doesn’t suit your needs, two interesting options for frequent travelers are the American Express Gold and the Revolut Metal. Both alternatives stand out for their advantages in terms of foreign fees and loyalty.
American Express Gold
You can earn Membership Rewards points with the American Express Gold (Amex Gold) which can be converted into miles for airlines like SWISS and Lufthansa. Besides points it also offers travel insurance and hotel discounts. But it has a high annual fee of 300 CHF and a 2% currency conversion fee so it’s not the best option for frequent travelers abroad.
Revolut Metal
The Revolut Metal is perfect for those who want to minimize fees abroad, it offers fee free payments in over 30 currencies and free withdrawals up to CHF 800 per month. It also includes medical insurance and access to airport lounges. But it doesn’t have a miles program like the Amex Gold so it might not be the best option for travelers who accumulate airline rewards.
Cheapest Credit Cards for Occasional and Frequent Users
According to a Moneyland.ch study, occasional and frequent users can save a lot by choosing the right credit cards. It depends on how you use the card and the additional services like insurance, cash withdrawals and mobile payments.
For Occasional Users
- Swisscard Cashback: You can earn 18.65 CHF in two years.
- Poinz Swiss Loyalty Card: You can earn 1.65 CHF in two years.
- Migros Cumulus Visa: You will pay only 16.70 CHF in fees in two years.
For Frequent Users
- Migros Cumulus Visa: CHF 232.55 fee over two years.
- Cashback Swisscard: CHF 277.05 fee over two years.
- Poinz Swiss Loyalty Card: CHF 277.05 fee over two years.
TCS Credit Cards
The Touring Club Suisse (TCS) offers credit cards designed for motorists and travelers. These cards have several advantages, especially for insurance, travel programmes and loyalty programmes and international assistance services. As a TCS member you have various benefits adapted to your needs.
Key benefits:
- Insurance discounts: As a member you get preferential rates on certain insurances such as car insurance, travel insurance or liability insurance.
- Loyalty programme: You collect points or bonuses that you can redeem for various services, including travel or automotive products.
- International assistance: Cards often include assistance services in case of breakdown or accident abroad, so travel stress free.
Annual Fee and Foreign Fees
Here are the fees for TCS credit cards:
Annual Fee:
- TCS Member Mastercard: Free for TCS members.
Foreign Fees:
- Currency Conversion Fee: 1.5% on foreign currency transactions.
- Cash Withdrawals: Often with fixed or variable fees depending on the amount withdrawn.
So these cards are great for TCS members with extra protection and savings on insurance and easier management of unexpected events during international travel.
Migros Cumulus Visa vs Coop Supercard Mastercard
In Switzerland, the Migros Cumulus Visa and the Coop Supercard Mastercard are two popular credit cards, offering similar benefits but targeting different clienteles.
Loyalty Programs
Migros Cumulus Visa earns you Cumulus points (1% cashback at Migros in the first year) which can be converted into vouchers. Coop Supercard Mastercard works on a Superpoints system which can be exchanged in the Coop network and its partners.
Fees and Usage
Both are free but charge fees for foreign transactions so not great for frequent travelers. Both have included insurance (travel cover).
Which Card Should you Choose?
If you are a Migros loyal customer, the Cumulus Visa is the obvious choice. If you shop mostly at Coop, the Supercard Mastercard will be better for accumulating Superpoints.
Comparison table Migros Cumulus Visa vs Coop Supercard Mastercard
| Feature | Migros Cumulus Visa | Coop Supercard Mastercard |
|---|---|---|
| Annual Fees | CHF 0 | CHF 0 |
| Cashback / Points | 1% at Migros (1st year), 0.33% elsewhere | 1 Superpoint per CHF spent |
| Insurances Included | Travel, purchases (up to CHF 200,000) | Travel, purchases (up to CHF 250,000) |
| Foreign Conversion Fees | 1.5% | 1.5% |
| Withdrawal Fees in Switzerland | 4% (min. CHF 10) | 3.5% (min. CHF 5) |
| Withdrawal Fees Abroad | 4% (min. CHF 10) | 3.5% (min. CHF 5) |
| Interest Rates | 11.95% | 11.95% |
| Where to Use Points | Migros and Cumulus partners | Coop and Supercard partners |
Note: do not mix up the Coop Supercard Mastercard with the so called Supercard prepaid credit card which is a prepaid card and not a credit card at all since you need to top up your card to be able to make transactions.
Comparison of Traditional Bank Credit Cards
Traditional bank cards like PostFinance or UBS have annual fees and limited benefits compared to the new ones.
PostFinance MasterCard
With an annual fee of CHF 50 and a cashback of 0.3%, the PostFinance MasterCard is significantly less competitive than the free options.
UBS Classic MasterCard
The UBS Classic MasterCard is free of charge if you make at least 24 transactions per year, this card does not offer cashback and charges fees on payments in foreign currencies.
Viseca MasterCard Silver
The Viseca MasterCard Silver charges an annual fee of CHF 100 and does not offer a cashback program, which makes it less attractive.
How to Get the Most Out of Your Credit Card
To get the most out of your credit card follow these simple tips:
- Pay your balance in full each month to avoid interest.
- Use cashback cards for your daily expenses.
- Choose a card with no annual fee to limit your fixed costs.
- For payments abroad, choose cards from neobanks with low exchange fees.
Conclusion on the Best Credit Cards in Switzerland
In 2024 the best credit cards in Switzerland have no annual fees, cashback programs and lower international fees. Neobanks like Alpian, neon, Radicant, Revolut, Wise and Yuh are great for payments abroad with competitive exchange rates and no conversion fees. Cembra Certo One and Swisscard Cashback American Express are good for domestic cashback rewards.
Choose a card that suits your needs and maximizes the benefits while minimizing the costs. By knowing the features of each you can pick the credit card that fits your financial goals and your spending habits.
Depending on your needs, you can choose a card that will allow you to maximize the benefits while minimizing the costs.
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Frequently Asked Questions (FAQ) about Swiss Credit Cards
✅ What are the main differences between a credit card and a debit card?
The primary difference is that with a credit card, you make purchases on credit, and the credit card company pays for your purchases, billing you monthly. With a debit card, the amount is immediately deducted from your bank account. Credit cards often come with additional benefits like cashback or rewards, while debit cards offer immediate account debits and are preferable for cash withdrawals.
✅ What are the advantages of using a credit card over a debit card?
Credit cards offer benefits such as cashback, bonus programmes, and the ability to pay for larger purchases over time, while also providing protection against fraud and purchase disputes. They also allow you to manage cash flow by delaying payments until the end of the billing cycle. Debit cards, on the other hand, provide immediate account debits and better budget control.
✅ Are there any free credit cards available in Switzerland?
Yes, there are free credit cards available in Switzerland. These cards do not have an annual fee and can offer benefits such as cashback or bonus programmes. However, it is important to avoid additional costs like cash withdrawal fees, foreign transaction fees, and paper invoice fees to ensure the card remains free.
✅ What should I consider when choosing a credit card in Switzerland?
When choosing a credit card, consider factors such as annual fees, cashback or bonus programmes, interest rates, and additional benefits. Evaluate whether the card offers rewards that align with your spending habits and whether it has fees for cash withdrawals, foreign transactions, or paper invoices.
✅ How do cashback and bonus programmes work with credit cards?
Cashback programmes give you a percentage of your spending back as a cash credit. Bonus programmes, on the other hand, offer points or rewards that can be redeemed for discounts, gifts, or other benefits. Cashback is often more straightforward as you receive direct monetary benefits, while bonus points may have limitations and expiration dates.
✅ What are the fees associated with credit cards and how can I avoid them?
Common fees include annual fees, foreign transaction fees, cash withdrawal fees, and fees for paper invoices. To avoid these costs, use a free credit card, avoid cash withdrawals, opt for electronic invoices, and pay your bill in full to avoid interest on instalments.
✅ What is the best type of credit card for international travel?
For international travel, look for a credit card that offers no foreign transaction fees and competitive exchange rates. Cards from Swiss neobanks like Alpian, Neon, and Yuh are known for not charging foreign transaction fees, making them ideal for travel.
✅ Are there credit cards with travel insurance benefits worth considering?
While some credit cards offer travel insurance benefits, these are often not worth the high annual fees compared to purchasing travel insurance separately. Assess the insurance coverage carefully and consider whether it meets your needs, or if a standalone insurance policy would be more cost-effective.
✅ How does credit card interest work and how can I avoid high charges?
Credit card interest rates apply to outstanding balances if you choose to pay in instalments rather than in full. To avoid high charges, pay your credit card bill in full and on time each month. Set up automatic payments to ensure you never miss a due date.
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