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Old 26.07.2015, 20:31
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Credit Cards in Switzerland offering mid term free credit

Hi

Just read this article http://www.moneysavingexpert.com/loa...personal-loans which details credit cards in the UK which grant interest free credit upto 25 months.

Do such cards exist in Switzerland ?

Cheers
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  #2  
Old 26.07.2015, 20:41
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Re: Credit Cards in Switzerland offering mid term free credit

The UK is a consumer's society, used to living in credit.

The Swiss abhor credit and only the very basic products exist here. Be glad credit cards even exist as the banking system here is similar to the 90s.
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Old 14.08.2015, 11:56
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Re: Credit Cards in Switzerland offering mid term free credit

I applied for a credit card at Postfinance few weeks ago
however i called them today and they just informed me that there's a new law with residents with B Permit. that they will not give out credit cards anymore to B permit residents. this is a new law since August 7th .
i asked if this was just with Postfinance, and the guy said no it's a new swiss law.
has anyone heard about this?

thanks
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Old 14.08.2015, 12:03
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Re: Credit Cards in Switzerland offering mid term free credit

The only thing I read remotely related to this is that PF no longer issues credit cards to people living abroad:

http://www.swissinfo.ch/eng/overseas...cards/41555074
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Old 14.08.2015, 12:10
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Re: Credit Cards in Switzerland offering mid term free credit

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I applied for a credit card at Postfinance few weeks ago
however i called them today and they just informed me that there's a new law with residents with B Permit. that they will not give out credit cards anymore to B permit residents. this is a new law since August 7th .
i asked if this was just with Postfinance, and the guy said no it's a new swiss law.
has anyone heard about this?

thanks
I don't believe it's a Swiss law, ask for the Article no & see what he says.
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Old 14.08.2015, 12:33
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Re: Credit Cards in Switzerland offering mid term free credit

i just called Postfinance again, actually twice and both times they confirm that it's fairly new and it's people residing in Switzerland holding a B Permit.
they can only give credit cards to residents with a C permit.

only thing they can offer is the Mastercard (prepaid).
this seems very very strange to me and discriminatory
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Old 14.08.2015, 12:35
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Re: Credit Cards in Switzerland offering mid term free credit

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i just called Postfinance again, actually twice and both times they confirm that it's fairly new and it's people residing in Switzerland holding a B Permit.
they can only give credit cards to residents with a C permit.

only thing they can offer is the Mastercard (prepaid).
this seems very very strange to me and discriminatory
And why should that be discriminatory???? It is probably their risk assessment and unfortunately they can do that
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Old 14.08.2015, 12:42
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Re: Credit Cards in Switzerland offering mid term free credit

a risk assessment will be made regarding your credit history, employment history , status etc.. not because you hold a B permit.

i would understand if you have a B permit for the past 6 months and have no credit history here and no stable salary, but with someone that has been here for many years with good credit and stable income etc..come on now!!
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Old 14.08.2015, 12:46
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Re: Credit Cards in Switzerland offering mid term free credit

You confuse your personal risk assessment with a risk assessment a bank makes. If the bank considers credit cards for people on a B permit a risk, they exclude them and lower the risk. That has nothing to do with a person per se but rather their general risk assessment
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Old 14.08.2015, 12:52
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Re: Credit Cards in Switzerland offering mid term free credit

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It is probably their risk assessment and unfortunately they can do that
Not sure why "unfortunately" - with the amount of stupid loans given out globally prior to the crash, and the fact we fund the social support when it goes wrong, I'm very happy for them to do a proper risk assessment.

Having a blanket rule of "no to B permit holders" would be stupid, but residence status is a valid factor.
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Old 14.08.2015, 12:53
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Re: Credit Cards in Switzerland offering mid term free credit

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I don't believe it's a Swiss law, ask for the Article no & see what he says.
PSU, please do as Fatmanfilms suggests and ask for the exact article number to the law being referenced.
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Old 14.08.2015, 12:55
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Re: Credit Cards in Switzerland offering mid term free credit

The unfortunate part is that sometimes the good suffer with the bad from a general ruling

I am happy there is a tighter rule on handing out credit in whatever way, yes. In my home country people could borrow up to 120% of the house value. Guess what happened when the housing market crashed? So some more prudency is not a bad thing
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Old 14.08.2015, 15:15
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Re: Credit Cards in Switzerland offering mid term free credit

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i just called Postfinance again, actually twice and both times they confirm that it's fairly new and it's people residing in Switzerland holding a B Permit.
they can only give credit cards to residents with a C permit.

only thing they can offer is the Mastercard (prepaid).
this seems very very strange to me and discriminatory
Wow! How is that even possible? It takes years to get a C permit (e.g. if you are non-EU). It is such a hassle to travel, rent cars, buy things online, subscribe to online services, etc. without a real credit card.
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Old 14.08.2015, 15:47
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Re: Credit Cards in Switzerland offering mid term free credit

I guess I should be glad I managed to get a Cumulus credit card before this sudden clampdown.
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Old 14.08.2015, 16:13
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Re: Credit Cards in Switzerland offering mid term free credit

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I applied for a credit card at Postfinance few weeks ago
however i called them today and they just informed me that there's a new law with residents with B Permit. that they will not give out credit cards anymore to B permit residents. this is a new law since August 7th .
i asked if this was just with Postfinance, and the guy said no it's a new swiss law.
has anyone heard about this?

thanks
Seems it is just PF according to these articles

German
French
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Old 14.08.2015, 16:17
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Re: Credit Cards in Switzerland offering mid term free credit

That seems to be people living abroad, not foreigners residing in Switzerland.
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Old 14.08.2015, 16:37
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Re: Credit Cards in Switzerland offering mid term free credit

Two years ago when I was on L permit, PF refused me to give a postpaid credit card and offered a prepaid credit card. They told me that I can get one when I have a B permit. I am still using prepaid one from PF and have nothing to complain.
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Old 17.08.2015, 14:55
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Re: Credit Cards in Switzerland offering mid term free credit

Postfinance are more conservative in my opinion. Couple of years back when I contacted them for a mortgage they said they are only allowed to grant mortgages for C permit holders. This is when I bank with them since many years.

Maybe they do the same for credit cards now.
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Old 17.08.2015, 15:23
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Re: Credit Cards in Switzerland offering mid term free credit

Just moved here from Singapore. There it was impossible to go from home to the office without being offered three credit cards on the way. Yearly fees were always waved, my credit line was about half my yearly income and the banks were generally begging for the (very lucrative) credit card business.

One of the first reality checks in Switzerland was the credit card application. "I'll take the top package with all the insurances and what not since I fly a lot" "I can apply for you, but I don't think you'll be approved.." "And why would that be the case?" "Well, you have less than 250.000 CHF with us. Why don't you take the lowest level credit card firs? We can always upgrade you later..." "I don't think you understand the concept of credit very well"
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