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Old 11.08.2020, 12:04
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How do credit cards in Switzerland work?

Hi everyone,

Recently I was granted the Bonviva package from Credit Suisse. It comes with two credit cards, and the Limit of Expenses shows as 5800 CHF.

How exactly do credit cards work work? When and how do I return the used money? What fees do they charge for the credit? I was not able to find that information on the bank site.
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Old 11.08.2020, 12:09
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Re: How do credit cards in Switzerland work?

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Hi everyone,

Recently I was granted the Bonviva package from Credit Suisse. It comes with two credit cards, and the Limit of Expenses shows as 5800 CHF.

How exactly do credit cards work work? When and how do I return the used money? What fees do they charge for the credit? I was not able to find that information on the bank site.
https://www.credit-suisse.com/ch/en/...va/silver.html

Just check out the fact sheet, has all the information on cards
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Old 11.08.2020, 12:09
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Re: How do credit cards in Switzerland work?

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Hi everyone,

Recently I was granted the Bonviva package from Credit Suisse. It comes with two credit cards, and the Limit of Expenses shows as 5800 CHF.

How exactly do credit cards work work? When and how do I return the used money? What fees do they charge for the credit? I was not able to find that information on the bank site.
What does it say on the paper you signed when you signed up for the package?

You should get a monthly statement with all the expenses up to a certain date listed and then they will either debit the full amount from your bank account on the given date or you will have to transfer money to them (either the full amount or a lesser sum but it must be more than the set minimum amount).
It really depends on what you agreed to when you signed but I suspect it will be the former as that is the default here.
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Old 11.08.2020, 12:19
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Re: How do credit cards in Switzerland work?

Probably, your maximum indebtedness is chf 5800 in total across both cards. The default is, as Belgiummum suggested, to pay the amount due in full each month. If you want an installment plan, you need to contact them. Interest rate is listed on the statement.
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Old 11.08.2020, 12:27
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Re: How do credit cards in Switzerland work?

Usually the limit is shared between your credit cards but you can check this.
You can complete the LSV module to have money repaid every month directly from your bank account, in that case there are no fees aside from what you pay for the banking package as long as you don't withdraw money from ATMs or pay abroad (there is some additional % fee in that case) and you have funds to pay the bills. You can also pay the bills manually every month. I suggest having electronic bills only as there is usually a fee for paper bill (2 chf per month or so).
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Old 11.08.2020, 12:35
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Re: How do credit cards in Switzerland work?

The best answer: Credit Cards in Europe does not serve the same as USA.

Here credit cards is to be used to make points but you pay everything (or you should) when you receive invoice.

Of course you can pay in installments but this is up to you. So what i do i use my credit card for all purchases (online, supermarket, restaurants and so on) and weekly i check my balance in ebanking and i pay back.
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Old 11.08.2020, 12:47
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Re: How do credit cards in Switzerland work?

Indeed the Swisscard-issued cards you get with Bonviva have the limitation that the balance is across the collection of cards. You can choose to pay the entire spend off per month or pay an amount greater than the minimum required on your monthly bill and pay interest on the rest. You don't need to contact them as long as you pay that minimum but you will eventually have your credit card debt on the credit register (which is not a bad thing, it's not the debt register).

The Swisscard App is quite reasonable, finally, and the Bonviva points are useful.

The other benefits of the packages, depending on level, are things such as Priority Pass. As pointed out, this is all documented and depends on which package you pay for.
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Old 12.08.2020, 23:11
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Re: How do credit cards in Switzerland work?

Bit of unsolicited advice to future readers: the free amex cashback card is easily the best credit card in Switzerland (1% cashback).

For non-Amex spend the best CHF card is probably the free coop or migros cards, although the cashback is pretty lamentable (0.3%) at least you aren't paying for the privilege. I use the US HSBC premier card for MasterCard spend as it's 0 fx and gives much higher cashback.

I find a lot of the Swiss credit cards bizzarely poor. They ask for an annual fee, collect higher interchange fees than anywhere in the EEA and still offer rock bottom rewards. Personally I won't pay a fee to have a bank account, and will only pay for a credit card if the rewards and sign on bonus are both significant.
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Old 13.08.2020, 10:23
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Re: How do credit cards in Switzerland work?

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Indeed the Swisscard-issued cards you get with Bonviva have the limitation that the balance is across the collection of cards. You can choose to pay the entire spend off per month or pay an amount greater than the minimum required on your monthly bill and pay interest on the rest. You don't need to contact them as long as you pay that minimum but you will eventually have your credit card debt on the credit register (which is not a bad thing, it's not the debt register).

The Swisscard App is quite reasonable, finally, and the Bonviva points are useful.

The other benefits of the packages, depending on level, are things such as Priority Pass. As pointed out, this is all documented and depends on which package you pay for.
Unless the rules have changed with Bonviva, you do need to speak to them to enable paying by instalment if you did not select this option when you opened the package. Your bill will tell you what the minimum amount is. If the minimum amount is the full balance that is what you have to pay unless you call them to enable the instalment option. Do not pay less than the minimum indicated. Interest on instalments is capped by law. From memory it is 10% at the moment and is adjusted when the base rate changes.
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Old 13.08.2020, 10:57
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Re: How do credit cards in Switzerland work?

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Bit of unsolicited advice to future readers: the free amex cashback card is easily the best credit card in Switzerland (1% cashback).
But as far as I remember amex is not as widely accepted as Visa and MC.
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Old 13.08.2020, 11:38
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Re: How do credit cards in Switzerland work?

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But as far as I remember amex is not as widely accepted as Visa and MC.
It’s true, which is why Bonviva gives you an Amex with better benefits and a backup visa or MasterCard. However, I don’t find many places that don’t accept it.
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Old 13.08.2020, 11:54
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Re: How do credit cards in Switzerland work?

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It’s true, which is why Bonviva gives you an Amex with better benefits and a backup visa or MasterCard. However, I don’t find many places that don’t accept it.
I used to have a Swiss amex card. In the UK/USA it was wonderful in CH very painful. I am now very happy with my Visa/MC combo from UBS.
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Old 14.08.2020, 01:04
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Re: How do credit cards in Switzerland work?

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But as far as I remember amex is not as widely accepted as Visa and MC.
And the post office doesn't even accept visa or MasterCard debit cards.
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Old 14.08.2020, 11:50
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Re: How do credit cards in Switzerland work?

Don't know if this is a coincidence. Since lockdown started and we are all encourage not to use cash, my AMEX has never been rejected.

Previously, the shop machines don't accept them, or there is a minimum amount, or the salesperson outright asks if I have Visa or MC instead (insisting that AMEX simply costs them more).
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Old 14.08.2020, 23:16
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Re: How do credit cards in Switzerland work?

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Don't know if this is a coincidence. Since lockdown started and we are all encourage not to use cash, my AMEX has never been rejected.

Previously, the shop machines don't accept them, or there is a minimum amount, or the salesperson outright asks if I have Visa or MC instead (insisting that AMEX simply costs them more).
Lidl (and I think also Aldi) don't take them.
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