The average Swiss cashback credit card charges CHF 100 to CHF 200 per year in annual fees. On a typical 1% cashback rate with CHF 20,000 in spending, that's half your rewards gone before you see a franc. The good news? Several cards in Switzerland let you earn cashback with zero annual fee.
No Annual Fee Cashback Cards: What's Available in Switzerland?
Switzerland has a small but solid lineup of cashback credit cards that charge no annual fee. These aren't stripped-down junk cards either. Some offer up to 1% cashback, welcome bonuses, and worldwide acceptance.
Here are the genuinely free cashback cards worth your attention:
- Annual fee: CHF 0 (permanently)
- Cashback: 1% on Amex, 0.25% on Visa/MC
- FX fee: 2.5%
- Duo: Amex + Visa or Mastercard
- Read our review
- Annual fee: CHF 0
- Cashback: 1% at 3 chosen merchants, 0.25% elsewhere
- FX fee: 1.5%
- Welcome bonus: CHF 50
- Read our review
- Annual fee: CHF 0 (permanently)
- Cashback: Variable via poinz app
- FX fee: 1.5%
- Network: Visa or Mastercard
- Read our review
The Swisscard Cashback duo dominates this category. It's the only free card in Switzerland offering a flat 1% cashback rate on Amex purchases across all categories with no spending cap. The Certo! One takes a different approach, giving you 1% at three retailers you pick yourself.
If you're comparing these against cards that do charge an annual fee, our best cashback credit cards in Switzerland ranking puts them side by side.
Which Free Cashback Card Gives the Best Return?
Depends entirely on where you spend. Here's the honest breakdown.
Swisscard Cashback Cards give you the highest potential return at 1% on every Amex transaction. But here's the catch: Amex acceptance in Switzerland covers roughly 70% of merchants. At the remaining 30% (smaller shops, restaurants, some online stores), you'll fall back to the included Visa or Mastercard at just 0.25%. Your real blended cashback rate for typical Swiss spending lands around 0.5% to 0.7%.
Certo! One Mastercard pays 1% at your three favorite merchants (Migros, Coop, and SBB are the popular picks) and 0.25% everywhere else. If you concentrate spending at those three, the Certo! One can beat Swisscard. On CHF 1,000 monthly at Migros alone, that's CHF 120 per year in cashback, which is solid for a free card.
The bottom line: if you split spending across many merchants, Swisscard wins. If you're loyal to specific Swiss retailers, Certo! One delivers better targeted returns.
Are There Cashback Credit Cards with No Annual Fee?
Yes, and they're genuinely free. Not "free for the first year" or "free with conditions." The Swisscard Cashback Cards and Certo! One Mastercard both charge CHF 0 per year permanently. No minimum spending requirement, no hidden catch on the annual fee itself.
That said, "no annual fee" doesn't mean "no costs." Every free cashback card in Switzerland still makes money from you in other ways:
- Foreign currency fees: 1.5% to 2.5% on purchases in EUR, USD, or any non-CHF currency. Spend CHF 3,000 abroad and you're paying CHF 45 to CHF 75.
- Cash withdrawal fees: 3% to 4% with a CHF 5 to CHF 10 minimum. Never use your credit card at an ATM.
- Interest on unpaid balances: 9% to 15% annually if you don't pay in full each month.
When Does a Paid Cashback Card Make More Sense?
Free cards are great until you start travelling or spending internationally. Here's the break-even math.
A typical paid cashback card (CHF 100 to CHF 150 annual fee) might offer 0.75% to 1% cashback plus a lower foreign currency fee of 1.0% to 1.5%. Compare that to a free card with 2.5% FX fees:
On CHF 5,000 of foreign spending per year:
- Free card (2.5% FX): CHF 125 in fees, minus CHF 50 cashback = CHF 75 net cost
- Paid card (1.2% FX, CHF 120 fee): CHF 60 in FX fees + CHF 120 fee, minus CHF 50 cashback = CHF 130 net cost
At CHF 5,000 abroad, the free card still wins despite the higher FX rate. But at CHF 10,000 in foreign spending, the paid card starts pulling ahead because the FX savings compound while the annual fee stays fixed.
The crossover point: if you spend under CHF 8,000 abroad annually, stick with a free card. Above that, run the numbers on a paid option. For purely domestic spending, a free cashback card is almost always the better deal regardless of amount.
Common Mistakes with No-Fee Cashback Cards
After years of optimizing my own card setup, these are the traps I see people fall into repeatedly.
Swisscard Cashback's 1% rate only applies to the Amex card. In Switzerland, roughly 30% of smaller merchants don't accept Amex. If most of your spending happens at local shops and restaurants, your effective cashback rate drops closer to 0.25% on the Visa/Mastercard. Be realistic about where you actually shop before picking your card.
Buying from Amazon.de, Zalando EU, or any non-CHF webshop triggers the foreign currency fee (1.5% to 2.5%). Your cashback doesn't offset this. On CHF 200 of online shopping from Germany, that's CHF 3 to CHF 5 in hidden fees per transaction. Add it up over a year and it's significant.
Cash withdrawal fees on free cards range from 3% to 4% with a CHF 5 to CHF 10 minimum. Withdrawing CHF 200 costs you CHF 6 to CHF 10 in fees. Always use your debit card or a neobank card for cash.
The Certo! One lets you pick three merchants for the 1% rate. Pick your top three by actual spending, not by what sounds good. Check your bank statements for the last 3 months. Most people should pick Migros, Coop, and SBB.
My Recommendation
After comparing every free cashback option in Switzerland, here's my honest take: the Swisscard Cashback Cards are the best no annual fee cashback card for most people. The 1% Amex rate is the highest flat cashback you'll find on a free card in this market, and the included Visa or Mastercard covers you everywhere else. If you shop heavily at Migros, Coop, or SBB, consider adding the Certo! One as a second free card for the targeted 1% rate at those retailers. Two free cards, zero annual fees, and you've maximized your cashback across all spending. That's the setup I'd recommend.
Frequently Asked Questions
Are there cashback credit cards with no annual fee in Switzerland?
Yes. The Swisscard Cashback Cards (Amex + Visa/Mastercard duo) and the Certo! One Mastercard both offer cashback with permanently no annual fee. Swisscard pays up to 1% on Amex purchases and 0.25% on Visa/Mastercard. The Certo! One pays 1% at three chosen merchants and 0.25% elsewhere. Both cards are genuinely free to hold indefinitely.
What is the best free cashback credit card in Switzerland?
The Swisscard Cashback Cards offer the highest overall cashback among free options at 1% on Amex purchases. For shoppers who concentrate spending at specific Swiss retailers like Migros, Coop, or SBB, the Certo! One Mastercard's targeted 1% rate can deliver better returns. Both charge CHF 0 annually with no conditions.
How much cashback can I earn with a no-fee card?
On CHF 20,000 of annual spending with Swisscard Cashback, you'd earn roughly CHF 100 to CHF 140 depending on your Amex vs. Visa/Mastercard split. With the Certo! One, if you put CHF 12,000 through your three chosen merchants, that's CHF 120 at the 1% rate plus smaller returns elsewhere. Since there's no annual fee, every franc of cashback is pure profit.
Do free cashback cards have hidden fees?
Free cashback cards don't charge annual fees, but they do charge foreign currency fees (1.5% to 2.5% on non-CHF purchases), cash withdrawal fees (3% to 4%), and interest on unpaid balances (9% to 15%). For domestic spending paid in full each month, the cards are genuinely free. International spending is where costs hide.
Can I have two free cashback cards at the same time?
Yes. There's no rule preventing you from holding both the Swisscard Cashback and the Certo! One simultaneously. This is actually the optimal strategy: use the Certo! One at your top three retailers for 1% cashback, and the Swisscard Amex everywhere else for another 1%. Each card application does appear on your ZEK record, so space them out by a few months.
