Swisscard Cashback review 2026: is the free credit card worth it?
For four years I have paid for almost everything with the Swisscard Cashback Cards. Here is my honest review, the real fees and the two traps you should know about.
My Swisscard Cashback review in short: free, simple and a nice sum back every year. The Swisscard Cashback Cards are a card duo of an American Express plus a Visa or Mastercard, both without an annual fee. I use them for all private spending, from the weekly shop to train tickets. Still, a few things bother me, and they belong in an honest review as much as the good parts.
As of October 2026, based on Swisscard’s fee and benefits overview (01.2026). Terms may change.
What are the Swisscard Cashback Cards?
The Cashback Cards are issued by Swisscard AECS GmbH in Horgen. You always get two cards: an American Express and, depending on your choice, a World Mastercard or a Visa. The reason is simple: Amex earns the higher cashback but is not accepted everywhere. Where Amex fails, you use the second card.
You apply entirely digitally in the Swisscard app. You need your smartphone, a valid ID and a few minutes. Once approved, you can add the cards to Apple Pay, Google Pay or Samsung Pay right away; the physical cards arrive by post.
Swisscard Cashback fees: what does the card really cost?
The annual fee is CHF 0 for main and additional cards. It only gets expensive if you use the card the wrong way. The key items from the official fee overview:
| Item | Fee |
|---|---|
| Annual fee, main and additional card | CHF 0 |
| Foreign currency or foreign transactions | 2.5% |
| Cash withdrawal at ATM or counter | 4%, at least CHF 10 |
| Annual interest on instalments | 12% from booking date |
| Paper invoice | CHF 1.95 per invoice |
| Payment reminder | CHF 30 |
| Replacement card | CHF 25 |
The spending limit is CHF 10,000. You can pay the monthly bill by QR bill, eBill or direct debit. My tip: set up eBill or direct debit straight away and skip the paper invoice, so the CHF 1.95 a month never applies.
How much cashback does Swisscard pay?
This is where the card shines. Swisscard pays back a percentage of your card spending:
- 1% on payments with the American Express
- 0.25% on payments with the Visa or Mastercard
- 5% welcome cashback on the Amex in the first three months, up to CHF 100, for new main cardholders
There is no cashback on fees, interest, cash withdrawals, money transfers, topping up payment methods, payments to securities dealers or gambling. If you hope to fund your broker by credit card and collect cashback along the way, you will be disappointed.
Swisscard Cashback example: what is left per year?
Let’s use my own numbers. I spend about CHF 1,000 a month on groceries with the Amex. On top come smaller expenses that I pay with the Visa because Amex is not accepted there.
| Spending per year | Card | Cashback |
|---|---|---|
| CHF 12,000 groceries | American Express, 1% | CHF 120 |
| CHF 3,000 other spending | Visa, 0.25% | CHF 7.50 |
| Total CHF 15,000 | CHF 127.50 |
About CHF 130 a year on money I would have spent anyway, with zero annual fee. In the first year, the welcome cashback comes on top: spend CHF 2,000 on the Amex in the first three months and you already get the full CHF 100. Important: this only works if you pay the bill in full every month. A single month at 12% interest eats a whole year of cashback.
Swisscard Cashback in everyday life: what I like
Both cards sit in my iPhone wallet and they are my default cards. Setup was easy, and since then everything runs without any effort on my part. The app shows transactions instantly, and I can always see how much cashback has built up.
- Truly free: no annual fee, not even for additional cards
- 1% on the Amex is strong for a free card in Switzerland
- Works with Apple Pay, Google Pay and Samsung Pay
- Return protection insurance is included
- Moneyland ranked the Cashback Cards first in three categories in 2024
Amex acceptance has improved. A few years ago I often had to switch to the Visa at the till; today the Amex works almost everywhere at the big retailers, petrol stations and online.
Swisscard Cashback downsides: what bothers me
Two things matter to me to mention honestly, because they hardly stand out in the advertising:
- Cashback is paid out only once a year. It is credited to the card account; there is no cash payout.
- If you cancel during the card year, the accumulated cashback is lost. If you want to switch, wait for the annual credit and cancel afterwards.
Then there is interest. If you do not pay the monthly bill on time and in full, you pay 12% annual interest from the booking date, plus CHF 30 for a payment reminder. That is expensive. Always pay on time, ideally automatically by direct debit.
And finally, abroad: a 2.5% fee on foreign currency and foreign transactions makes the card unattractive when travelling. The 1% cashback comes nowhere near offsetting it.
Swisscard Cashback abroad: which card for travel?
For holidays and online shopping in euros or dollars, I therefore do not use the Swisscard. There I use Revolut: I convert CHF to EUR in the app and pay with it abroad. The free plan includes an allowance for fee-free currency exchange, which has always been enough for my holidays so far. neon and Yuh are also much cheaper abroad than a classic credit card.
My split is therefore simple: Swisscard Cashback for everything in francs in Switzerland, Revolut for everything in foreign currency. That way I collect the cashback and pay no 2.5% foreign fee.
How to get the most out of your Swisscard cashback
- Make the Amex your default card: set the Amex as default in Apple Pay or Google Pay. You then pay at the higher rate automatically and only switch to the Visa or Mastercard when the Amex is declined.
- Move recurring bills: subscriptions, mobile, streaming and online shops often accept the Amex without trouble. Every franc that regularly runs through it earns 1% back without you having to think about it.
- Plan the welcome cashback: apply when larger expenses in francs are coming up, for example before buying furniture or new glasses. That way you use the full CHF 100 in the first three months.
- Pay the bill automatically: set up direct debit and always pay in full. Then neither interest nor reminder fees apply.
- Time your cancellation: if you no longer want the card, wait for the annual credit and cancel only afterwards.
How to apply for Swisscard Cashback in five steps
- Download the Swisscard app from the App Store or Google Play Store.
- Choose your card duo: Amex with World Mastercard or Amex with Visa.
- Enter your personal details and the referral code FC4DNV3J5.
- Scan your ID and submit the application.
- Once approved, add the cards to your digital wallet and set up direct debit or eBill.
Who is the Swisscard Cashback credit card for?
The Cashback Cards suit you if you regularly pay by card in francs, pay the bill in full every month and do not mind having two cards in your wallet. The more you put through the Amex, the more you keep.
The card suits frequent travellers who often pay in foreign currency less well, and anyone who likes paying in instalments. If you want everything in one banking app, neon or Yuh are a better fit, though they offer no comparable cashback.
Swisscard Cashback coupon code
With the referral code FC4DNV3J5 you get a CHF 40 credit when you apply for the Swisscard Cashback Cards. New main cardholders also benefit from 5% welcome cashback on the Amex in the first three months, up to CHF 100.
You can find all bonuses side by side in the Swiss finance app referral bonus comparison. If you use my code or link, you get a goodie, and in most cases I receive a referral fee.
Want to save for retirement too? In the pillar 3a fees comparison I show where your 3a costs the least. And if you want to keep business money separate, read my experience with the Wise Business account.
Frequently asked questions about Swisscard Cashback
Is the Swisscard Cashback credit card really free?
Yes. The annual fee for main and additional cards is CHF 0. Costs only arise for foreign currency (2.5%), cash withdrawals (4%, at least CHF 10), instalments (12% interest) or paper invoices (CHF 1.95).
How much cashback does Swisscard pay?
1% with the American Express and 0.25% with the Visa or Mastercard. New main cardholders get 5% on the Amex in the first three months, up to CHF 100.
When is Swisscard cashback paid out?
Once a year as a credit to the card account. Cash payout is not possible.
What happens to the cashback if I cancel?
If you cancel during the current card year, the accumulated cashback is lost. Cancel only after the annual credit.
Is the Swisscard Cashback card worth using abroad?
Not really. Foreign currency and foreign transactions cost 2.5%. For travel, a card without a foreign currency fee such as Revolut is cheaper.
Verdict: my Swisscard Cashback review after four years
For me, the Swisscard Cashback Cards are the best free credit card for spending in francs. 1% on the Amex is real money back without me having to do anything. The weaknesses are clear: payout only once a year, forfeiture on cancellation and expensive use abroad. If you know that and pay your bill on time, there is really nothing to lose.
Not investment advice. This article reflects my personal experience and publicly available terms.