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Swiss credit card issuer Cornèrcard is introducing cash back as a feature on some of its cards.
Many Swiss credit cards reward you with some form of rewards points when you shop. Rewarding your credit card with cash back—a statement credit equal to a percentage of the purchase charged to your card—is less common.
Cash back rewards programs are more consumer-friendly than points-based programs because the cash back can be used for anything that can be purchased with the corresponding credit card. Points, on the other hand, can only be redeemed for a limited selection of rewards. This has made Cornèrcard’s new cash-back feature popular with credit card users.
So far, Swisscard’s PostFinance credit card and Cashback credit card are the only Swiss cashback credit cards offered.
How much cash back can I get with the Cornèrcard?
The amount of cash back you earn depends on the card you hold.
- Standard credit cards: 0.5% of the purchase amount.
- Gold Credit Card: 1% on purchases.
- Platinum Credit Card: 1.5% of spend.
Cashback of at least CHF 25 must be accumulated to redeem. In order to earn the 25 francs cash back, you must purchase items worth 5000 francs (standard credit card), 2500 francs (gold card) or 1667 francs (platinum credit card).
What transactions do you earn cash back on?
You can earn cash back when you buy from local and foreign merchants with eligible Cornèrcard credit cards. This applies to both online and in-store purchases. You will not earn Cash Back on money transfers, cash advances, or Cornèrcard fees charged to your credit card.
Will cashback be automatically credited to your account?
Can’t. Cashback is not automatically credited to your account – it must be exchanged for statement credit via the web portal (icorner.ch) or the Conèrcard app. This means you have to use a web portal or app to exchange cash. It may take several weeks for redeemed cash back to be credited to your account.
Do cash back rewards expire?
Tip: Unredeemed Cash Back awards expire one year from the date earned. To avoid losing your cash back rewards, you must make sure to redeem them through the portal or app. You must meet the required minimum cashback of CHF 25 within the due period to avoid losing your cashback.
How is the Conèrcard different from other Cashback credit cards?
The Cornèrcard credit card offers a higher cashback rate than most other Swiss cashback credit cards at 0.5% (Standard), 1% (Gold) or 1.5% (Platinum).
PostFinance credit cards offer 0.3% (Standard) or 0.5% (Gold and Platinum) cash back (0.6% for Standard cards and 1% for Gold and Platinum cards) after the first year of higher introductory cash back.
Swisscard’s cashback cards offer 0.2% (Visa, MasterCard) or 1% (Amex). The Cashback American Express credit card offers an introductory offer of 5% cash back in the first 3 months.
The TCS Travel Mastercard Gold (issued by Cembra Money Bank) lets you earn 1% cash back.
The downside of the Cornèrcard cash back credit card is that the cash back is not automatically credited to your account. You have to exchange cash yourself through the portal or app, which takes some time and effort on your part. Unredeemed Cash Back awards will expire after one year.
Another downside is that you have to collect at least 25 francs cashback before you can exchange your rewards for statement credits. This is mainly a disadvantage if you don’t charge your credit card for bulk purchases. Users who use Cornèrcard infrequently may not earn enough cash back rewards to redeem before expiration, so earn little or no cash back with Cornèrcard credit cards.
