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Old 18.01.2015, 01:43
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Not happy with the current credit card situation

I'm not necessarily happy with the current credit card situation. For one, their customer service hours are rather limited, which is crucial when you're abroad and the time difference doesn't allow for any immediate response. Also the expense report is not as conclusive and timely as I would have wished for. Why is it, that most banks simply deal with either Viseca or Cembra Money bank as their credit card service provider?
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Old 18.01.2015, 01:57
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Re: Not happy with the current credit card situation

I have MC and Visa, through Cornercard.

They seem not to worry about normal business hours, when they need to contact me about being over the limit.

Their account app. means I can check account details.
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Old 18.01.2015, 02:05
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Re: Not happy with the current credit card situation

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I'm not necessarily happy with the current credit card situation. For one, their customer service hours are rather limited, which is crucial when you're abroad and the time difference doesn't allow for any immediate response.
UBS customer service is 24h. The online interface has also improved recently and now shows not only transactions booked, but also blocked amounts, live.

On the other side, it's quite expensive, the bonus program is rather poor (equivalent of 3CHF per 1000CHF spent) and they have a high currency exchange surcharge of 1.75%.

What makes me stick to UBS is their travel insurance, which at 72CHF a year for the whole family is most likely the cheapest option off all available in Switzerland.
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Old 18.01.2015, 12:05
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Re: Not happy with the current credit card situation

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I have MC and Visa, through Cornercard.

They seem not to worry about normal business hours, when they need to contact me about being over the limit.

Their account app. means I can check account details.
But isn't the Corner Card also managed by one of the aforementioned service providers?
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Old 18.01.2015, 12:35
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Re: Not happy with the current credit card situation

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But isn't the Corner Card also managed by one of the aforementioned service providers?
No.

The following major credit card *processors* (in order of relevance) are present in the Swiss market:
- Card Center (UBS controlled)
- Swiss Card (CS controlled)
- Viseca (Raiffeisen group controlled)
- Corner (Corner-controlled )

(I am not sure whether Cembra actually are their own processor.)

Basically, a processor performs all the boring administrative and call center tasks for an issuer (e.g. a bank, or an airline, or ...). So you want your card with an issuer who contracts with a good processor. And do note that issuers may switch processors over the course of time (happens infrequently, though).

Some issuers might also set up their own call center and then make use of the facilities of the processor ... it's all a bit of fun

The best you can do is work through the credit card offerings available to you and assess every single card for your needs.

I myself have a Migros Cumulus credit card, by Cembra Money Bank. But only because a) my life does not depend on it and b) it is about the cheapest thing you can get for CHF as the card currency.

Last edited by daffy99; 18.01.2015 at 14:34. Reason: Fix language for comprehensibility
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Old 18.01.2015, 12:42
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Re: Not happy with the current credit card situation

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No.

The following major credit card *processors* (in order of relevance) are present in the Swiss market:
- Card Center (UBS controlled)
- Swiss Card (CS controlled)
- Viseca (Raiffeisen group controlled)
- Corner (Corner-controlled )

(I am not sure whether Cembra actually are their own processor.)

Cembra is what was formerly known as GE Money bank
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Old 18.01.2015, 13:24
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Re: Not happy with the current credit card situation

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No.

The following major credit card *processors* (in order of relevance) are present in the Swiss market:
- Card Center (UBS controlled)
- Swiss Card (CS controlled)
- Viseca (Raiffeisen group controlled)
- Corner (Corner-controlled )
Do you know who is processing Postfinance? For all I know they quote UBS currency exchange rates for they card transactions, so perhaps it's also UBS Card Center?
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Old 18.01.2015, 13:26
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Re: Not happy with the current credit card situation

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I have MC and Visa, through Cornercard.

They seem not to worry about normal business hours, when they need to contact me about being over the limit.

Their account app. means I can check account details.
I have had cornercards but the interest rates are RIDICULOUS (well, many credit cards are)..found the ones on post finance better and I can call them whenever I need to
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Old 18.01.2015, 13:54
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Re: Not happy with the current credit card situation

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Do you know who is processing Postfinance? For all I know they quote UBS currency exchange rates for they card transactions, so perhaps it's also UBS Card Center?
Correct.
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Old 18.01.2015, 14:01
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Re: Not happy with the current credit card situation

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I have had cornercards but the interest rates are RIDICULOUS (well, many credit cards are)..found the ones on post finance better and I can call them whenever I need to
Rule #1: Do not ever use a credit card to address liquidity challenges.

Rule #2: See Rule #1

Rather arrange some kind of overdraft facility (expensive) or just a plain outright consumer credit with your bank.

15% annual percentage rate (APR) for credit card credit - implied, for instance, by the "partial payment option". Come on, how absurd is that?!

In Switzerland, credit card issuing is subject to consumer credit laws and rules, by the way. There is nothing to be gained (and a lot to be lost) to use credit cards for getting credit.
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