In a Credit Suisse survey of some 6,000 credit card holders, almost a quarter of the respondents said that they had concerns about using their credit card, mainly relating to security and card acceptance. This is a mistake. We look at the reasons behind the seven most common myths concerning the use of credit cards:
1) I don't need a credit card because I don't spend that much money
Here, it depends which card you have. With its Bonviva Banking Packages, Credit Suisse offers special credit cards that are worth using on a daily basis no matter how small the amount is. Because every time you use your credit card to pay you collect points that you can redeem in the Bonviva Rewards Shop for attractive rewards, vouchers, and more.
2) I see no benefit in using a credit card
First and foremost, credit cards make your payments easier. Paying without cash saves you the trouble of counting out coins and bills, and you don't have to check whether you have enough cash with you. You also always have the right currency available.
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3) If you use your credit card frequently, there's a nasty suprise waiting for you at the end of the month
With Bonviva you can see all your credit card transactions in Online Banking as well as with the Private Banking Switzerland app. This will allow you to maintain an overview of your spending at all times. You'll also receive a clear statement detailing all your credit card purchases at the end of each month.
4) Paying with a credit card takes far too long at the checkout
Those days are long gone. At state-of-the-art terminals in Switzerland, payment can take less than three seconds. The key term is contactless payment.
5) Credit cards are unpopular with checkout staff
On the contrary, sales staff at the checkout counter welcome cashless payment methods, as they do not have to give change and the cash register is more likely to be in order at the end of the day.
6) Every credit card payment costs money
This too is a myth. In Switzerland, consumers pay the price shown on the goods. While there is a fee for foreign currency transactions abroad, you do still enjoy three key benefits compared to cash:
1. You always have the right currency no matter where you are.
2. You reduce the risk of loss normally associated with cash, as a credit card can be blocked and replaced.
3. You no longer have to go through the time-consuming and financially disadvantageous process of converting your cash back.
7) Paying with a credit card is not secure
Credit cards are still a very secure means of payment. In addition, the security for credit card payments is constantly being bolstered. Even if you lose it, your Bonviva credit card has you covered. In the case of card fraud, you will not be held liable if you have complied with all of your obligations to exercise due care and to cooperate.