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Good day,
According to the comparison, using the Coop Mastercard is cheaper than Migros Mastercard. Both of these cards have the same foreign transaction fee (1.5%).
Does Migros use a worse euro exchange rate? If not, how would one card be better than the other for purchases outside of Switzerland?
Kind regards
Good day,
The Migros Cumulus Mastercard and the Coop Supercardplus Visa both have a foreign transaction fee equal to 1.5% of the amount transacted.
The moneyland.ch credit card comparison accounts for the CHF - EUR currency exchange spread in addition to the foreign transaction fee. Exchange rates are set by the credit card issuer and are subject to change on a daily basis. The Migros Cumulus Mastercard is issued by the Cembra Money Bank, while the Coop Supercardplus is issued by Swisscard AECS. Rates used in the comparison are updated by moneyland.ch at regular intervals.
If one issuer uses more favorable rates another at the time that rates used for the comparison are updated, then that card will be rated more favorably for foreign transactions.
Best regards from Moneyguru
More on this topic:
Swiss credit cards: Foreign transaction fees explained
Foreign Currency Credit Cards – Can They Save You Money?
Both cards are big f'ing rip-offs for shopping abroad. Foreign transaction fee is AFAIK 1.75% now, and that's on top of an already juicy FX spread of about 2-3%
I recommend Revolut. You get true interbank rates most of the time (e.g. not on weekends). Only problem is you usually would have to pay to transfer CHF to it as they're in UK. But no problems no cost if you have EUR in the first place - SEPA transfer is free in this case for example through PostFinance.
