Paying with debit or credit card? And which ones are the cheapest? «Kassensturz» has the answers.
When shopping, at the kiosk, on vacation – the plastic card is quickly pulled out at the checkout and the amount is always just right. But: Debit and credit cards are not free. Additional costs arise when using them, which often go unnoticed.
Benjamin Manz and his team from the comparison platform Moneyland.ch took a closer look at 20 credit and 20 debit cards for «Kassensturz». The comparison focuses exclusively on Swiss cards, primarily those with low or no annual fees. Cards from foreign neo-banks like Revolut are therefore excluded.
2500 francs or euros: for both abroad and at home
For our comparisons, the model consumer uses the cards once domestically and once in the Eurozone. In both cases, she makes purchases of 2500 francs or euros. While abroad, she makes a total of 75 transactions.
The majority of Swiss do not pay attention to the costs of their debit or credit cards: “Often, people just take the cards they receive from their bank,” summarizes Moneyland CEO and card expert Benjamin Manz. However, these are often not the cheapest options.
The test results in detail
Credit cards abroad: Cost difference of 110 francs
The differences in the comparison are considerable: with the foreign profile, the cost for credit cards exceeds 110 francs. Migros Cumulus Visa stands out with low foreign currency fees and ranks first with 64 francs.
At the other end of the ranking is the Raiffeisen Mastercard/Visa Silver for non-cooperators: the annual costs add up to 175 francs.
Debit cards abroad: Neo-banks are the best choice
With debit cards, the so-called neo or smartphone banks clearly lead thanks to favorable exchange rates and foreign currency fees.
Our model consumer pays only 1.30 francs for the Radicant card. However, not all debit cards are the right choice abroad: the cards from Bank Cler and Basler Kantonalbank cost 210 francs per year.
Cashback cards domestically
Even in the domestic profile, the difference is 120 francs. With the Swisscard Cashback Cards Amex, our model user even generates a “profit” of 33 francs.