Credit card fees. I’ve been putting this topic off for months: “What’s the right credit card with low fees for me?” Revolut used to be my preferred choice abroad. But since Revolut introduced fees for Swiss customers, I’ve been using my PostFinance VISA credit card more and more again. It was time to take a closer look at this issue. Discover my surprising findings.
Sunday morning – the perfect time to check my finances. Because a glance at my credit card bill this week really made me jump for joy 🫨: it was higher than expected. One reason for this was my trip to Portugal. Apparently, I spent a little more than planned there. But where?
So it’s high time to take a closer look at your credit card statement.
Credit card fees: Where are the costs hidden?
In total, I paid credit card fees of 43 francs on my expenditure of €2,690. At first glance, that doesn’t seem like much. But when I think about it: I could enjoy a nice dinner in Portugal for that!
But are these really all the fees? Many credit card providers hide additional costs in the exchange rate. So I did the math.
Fee comparison: cash vs. credit card fees
I’m currently in Portugal for a few weeks. Unfortunately, my MacBook broke while I was there and I had to replace it in a hurry. I paid for it with my PostFinance VISA card. How would I have fared if I had paid the €2,690 for my new MacBook in cash and exchanged it at the exchange rate on November 14, 2024? Here’s how it looks:
- Exchange rate: 1 EUR = 0.938 francs
- Total costs: 2,522 francs
That’s a saving of 36 francs compared to the amount debited to my account. If I add the 43 francs credit card fee from PostFinance, the total difference is as much as 80 francs! That’s not just fees – that’s two meals in Portugal. 🍴
The digital credit card alternative: YUH as a Swiss option
Of course, I don’t want to travel with a lot of cash. Digital payment methods like Apple Pay are simply too convenient. So I looked at Swiss alternatives to Revolut and ended up with YUH.
Here is my comparison for the same amount of € 2,690 on November 14, 2024:
- YUH exchange rate: 1 EUR = 0.944 CHF
- This means I pay 18 francs less in hidden exchange rate fees compared to PostFinance.
- YUH charges an additional CHF 24 in fees (compared to CHF 43 with PostFinance)
This saves me a total of 37 francs compared to PostFinance. That’s almost 50% less credit card fees! 🫢
What is YUH?
YUH is a Swiss financial app that combines digital banking, investing and cryptocurrencies in a single platform. What makes YUH special is its fee-friendly model, which offers transparent conditions with no hidden costs. In addition, YUH enables simple investments in shares, ETFs and cryptocurrencies from small amounts, making it attractive to a broad target group.
Summary of credit card fees: Smaller fees, more enjoyment
YUH seems to be a good alternative for me, especially as the app is backed by well-known Swiss banks such as PostFinance and Swissquote. I will now test out YUH. Maybe I’ll soon find time to compare other credit cards.
Which provider do you use? Or who should I compare next? Let me know in the comments.
But that’s enough for today. The fresh air and the surfboard are calling. 🌊 My financial comparison has now given me certainty and some free dinners for the future.
YUH promo code 66xci0
If you also want to test YUH and benefit from low credit card fees, it’s best to use our YUH promo code. Enter it during the account opening process under “Your promotional code” and benefit.
Notice
Wir sind dir dankbar, wenn du bei einer Kontoeröffnung unseren Code nutzt. Wir erhalten dann eine kleine Vergütung. Für dich wird es dadurch nicht teurer und wir können die Kosten für den Betrieb der Plattform decken. Wir freuen uns auch, wenn du uns einen Kaffee spendierst ☕️.
Last update: 09.12.2024 20:57
