Originally Posted by bchl

be careful about your calculation... Cornerbank is using the retail-bank exchange rate which is significant higher then the interbank exchange rate used by Credit Suisse. After my last calculation it's still cheaper to use Corner Bank's card comparing to the 2.5% charged by Credit Suisse, but the difference isn't that big like you mentioned here.

Personally I still prefer to use my BA Diners or AF MasterCard. BA for more generous 1:1 mileage (250 CHF for the card!) and AF for much lower foreign exchange fees (1.5%, lower then the 0,9% from Cornerbank).

Originally Posted by goliath

Also, if you have a lot of refunds / credits to your credit card (as I do), Cornerbank uses a much worse exchange rate for those bookings, like a bank they have "buy" and "sell" exchange rates:

I.e. I spend 1000 USD today, they charge me 1000 USD @ 1.05 today = 1050 CHF.

Tomorrow I will be refunded the 1000 USD back to my card, but they only credit me 1000 USD @ 0.97 = 970 CHF.

So I've lost 80 CHF.

If I do the same on a M&M card (or any other credit card I own or have owned, for that matter...), they are using the same exchange rate and I don't lose money on those transactions (exchange rate fluctuations set aside).

Also, if you have a problem with any of your transactions, their chargeback / refund system is awful and they rather send you to their insurance company to *try to* take care of it. Happened to me a lot of times with them, but never had any such problems with other cards.


Those were the main two reasons I've cancelled my Corner cards - but that's just me having a lot of refunds / credits and "risky" transactions.