Most Swiss credit card holders pay CHF 50 to CHF 200 per year in annual fees. That's money you could keep in your pocket. There are now over a dozen genuinely free credit cards available in Switzerland, and some of them even pay you cashback on every purchase.
Free Credit Cards in Switzerland: What's Actually Available?
Switzerland has more free credit card options than most people realize. The catch? "Free" doesn't always mean zero cost. Every card that skips the annual fee still makes money somewhere, usually through foreign currency fees, cash withdrawal charges, or interchange fees from merchants.
Here are the cards that genuinely charge CHF 0 in annual fees:
- Annual fee: CHF 0 (forever)
- Cashback: 1% on Amex, 0.25% on Visa/MC
- FX fee: 2.5%
- Networks: Amex + Visa or Mastercard
- Read our review
- Annual fee: CHF 0
- Rewards: Cumulus points on every purchase
- FX fee: 1.75%
- Insurance: Basic travel + online shopping
- Read our review
- Annual fee: CHF 0
- Rewards: Superpoints on Coop purchases
- FX fee: 1.5%
- Issuer: TopCard
- Read our review
- Annual fee: CHF 0 (TCS members)
- Welcome bonus: CHF 50
- FX fee: 1.5%
- Issuer: Cembra
- Read our review
- Annual fee: CHF 0
- Cashback: 1% at Migros, Coop, SBB; 0.25% elsewhere
- FX fee: 1.5%
- Issuer: Cembra
- Read our review
If you're comparing all your options beyond free cards, our best credit cards in Switzerland guide covers the full landscape.
No Annual Fee Credit Cards: Which One Fits You?
The right free card depends entirely on how and where you spend. Here's my framework for picking the best one.
Grocery shoppers
If most of your spending happens at Migros or Coop, the retailer-linked cards give you the best return. The Migros Cumulus Visa Free collects Cumulus points on everything and gives enhanced rates at Migros partners. The Coop Supercard does the same for Coop. Pick whichever store you shop at more. Simple.
Cashback maximizers
Want actual money back? The Swisscard Cashback Amex gives you 1% on every purchase where Amex is accepted, and the included Visa/Mastercard covers everywhere else at 0.25%. The Cembra Certo! One offers 1% at Migros, Coop, and SBB. If you split spending across these retailers, the Certo! One can beat Swisscard on returns.
Travelers
Here's where free cards usually fall short. Most charge 1.5% to 2.5% in foreign currency fees. The Advanzia Mastercard Gold is the exception: no annual fee and no foreign currency fees at all. But it's issued from Luxembourg, not a Swiss bank. If you spend heavily abroad, consider whether a paid card with zero FX fees saves you more overall. Check our best cashback credit cards for cards that work better internationally.
If most of your spending happens at Migros or Coop, the retailer-linked cards give you the best return. The Migros Cumulus Visa Free collects Cumulus points on everything and gives enhanced rates at Migros partners. The Coop Supercard does the same for Coop. Pick whichever store you shop at more. Simple.
Want actual money back? The Swisscard Cashback Amex gives you 1% on every purchase where Amex is accepted, and the included Visa/Mastercard covers everywhere else at 0.25%. The Cembra Certo! One offers 1% at Migros, Coop, and SBB. If you split spending across these retailers, the Certo! One can beat Swisscard on returns.
Here's where free cards usually fall short. Most charge 1.5% to 2.5% in foreign currency fees. The Advanzia Mastercard Gold is the exception: no annual fee and no foreign currency fees at all. But it's issued from Luxembourg, not a Swiss bank. If you spend heavily abroad, consider whether a paid card with zero FX fees saves you more overall. Check our best cashback credit cards for cards that work better internationally.
Are There Really Free Credit Cards in Switzerland?
Yes, but with important caveats. A card with no annual fee is not the same as a card with no costs.
Every free credit card in Switzerland still charges for at least some of the following:
- Foreign currency fees: 1.5% to 2.5% on non-CHF purchases. Spend CHF 3,000 abroad and you'll pay CHF 45 to CHF 75 in hidden fees.
- Cash withdrawal fees: Typically 3% to 4% of the amount, with a minimum of CHF 5 to CHF 10. Never use your credit card at an ATM unless it's an emergency.
- Paper statement fees: Some issuers charge CHF 2 to CHF 3 per paper statement. Switch to digital.
- Interest on unpaid balances: 9% to 15% annually. Always pay in full every month.
The banks make money from interchange fees (charged to merchants), foreign currency markups, and interest from cardholders who don't pay in full. That's how the "free" model works. You're not the product, but your transaction volume is.
How Do Free Credit Cards Make Money?
Banks aren't running a charity. When a merchant accepts your credit card, they pay a fee of about 0.44% to 0.7% per transaction to the card network and issuer. On CHF 20,000 of annual spending, that's CHF 88 to CHF 140 going to your card issuer without you paying a single franc directly.
Add foreign currency markups (where most free cards charge 1.5% to 2.5%), and the math works even better for the issuer. The Swiss Financial Market Supervisory Authority (FINMA) oversees all credit card issuers in Switzerland, ensuring consumer protections are maintained regardless of the fee structure.
Retailers like Migros and Coop have an extra incentive: their free cards drive loyalty. When you pay with your Cumulus Visa at Migros, the store gets data on your purchasing habits and you keep coming back for points. Both sides benefit.
Neobank Cards: A Free Alternative Worth Considering
The Swiss neobank scene has exploded with free card options. Yuh, Zack, Alpian, Neon, and N26 all offer cards with no annual fee and, in many cases, lower foreign currency fees than traditional free credit cards.
Here's the important distinction: most neobank cards are debit cards, not credit cards. You spend your own money in real-time instead of getting a monthly bill. This matters for things like hotel reservations, car rentals, and purchase protection, where a true credit card provides stronger consumer protections.
That said, if you want a no-cost card for everyday Swiss spending with minimal fees abroad, neobank debit cards are excellent. Zack and Alpian scored well in recent Swiss consumer tests for having zero fees across the board, including foreign transactions.
Common Mistakes with Free Credit Cards
After years of comparing cards and optimizing my own finances, here are the mistakes I see constantly.
The annual fee is just one component. A free card charging 2.5% on foreign transactions costs more than a CHF 100 card with 0% FX fees if you spend more than CHF 4,000 abroad annually. Always look at your total cost of ownership.
Swisscard Cashback gives 1% on Amex and 0.25% on Visa/Mastercard. If Amex isn't widely accepted where you shop (and in Switzerland, roughly 30% of smaller merchants don't take it), your real cashback rate drops closer to 0.25%. Don't overestimate your Amex usage.
Cash withdrawal fees on free cards range from 3% to 4%, with minimums of CHF 5 to CHF 10. Withdrawing CHF 200 costs you CHF 6 to CHF 10 in fees. Use your debit card or a neobank card for cash.
ZEK is Switzerland's credit information database. Every credit card application gets logged. Multiple applications in a short period can raise red flags. Pick one card and apply. Don't shotgun applications.
Free cards offer minimal or zero insurance. If you travel regularly, the travel medical coverage and purchase protection on a paid card (worth CHF 150+ per year standalone) might justify an annual fee. Do the math before dismissing paid options entirely.
My Recommendation
After analyzing every free credit card in Switzerland, here's my honest take: the Swisscard Cashback Cards are the best free option for most people. You get a no-fee Amex with 1% cashback plus a Visa or Mastercard for universal acceptance, all at CHF 0. If you shop primarily at Migros, the Cumulus Visa Free is a strong alternative because of the integrated loyalty program. But if I had to pick just one free card, Swisscard Cashback wins on versatility. For anyone spending more than CHF 5,000 abroad annually, I'd skip free cards entirely and look at options where zero foreign currency fees save you more than the annual fee costs.
Frequently Asked Questions
Are there free credit cards in Switzerland?
Yes. Several Swiss credit cards charge no annual fee, including Swisscard Cashback Cards, Migros Cumulus Visa Free, Coop Supercard, TCS Member Mastercard, and Cembra Certo! One. These cards are genuinely free to hold, though they may charge fees for foreign currency transactions, cash withdrawals, or paper statements.
What is the best free credit card in Switzerland?
The Swisscard Cashback Cards offer the best overall value among free options. You get up to 1% cashback on Amex purchases and 0.25% on Visa/Mastercard, with no annual fee. For Migros shoppers specifically, the Cumulus Visa Free is excellent because it combines zero fees with Cumulus point collection.
Do free credit cards have hidden fees?
Most free credit cards charge foreign currency fees of 1.5% to 2.5% on non-CHF purchases and cash withdrawal fees of 3% to 4%. Some also charge for paper statements. The annual fee is waived, but these transaction-based costs can add up, especially if you travel or shop internationally online.
Can I get a free credit card without income proof in Switzerland?
Some free cards have low or no stated income requirements. The Swisscard Cashback Cards and certain prepaid options from Swiss Bankers don't require proof of high income. However, all Swiss credit card applications involve a credit check through ZEK, and your creditworthiness affects approval regardless of the card's fee structure.
Is a free credit card or a paid card better value?
It depends on your spending patterns. For domestic spending under CHF 15,000 annually with minimal travel, a free card is almost always better. You can't lose money on fees. But if you spend CHF 5,000+ abroad yearly, a paid card with zero foreign currency fees often saves more than its annual fee costs. Run the numbers for your specific situation.
