06 August 2010 - Money
The free credit card by Migros will be getting a new name. Instead of «M-Budget-Mastercard» or «M..Mastercard», it will be called «Cumulus-Mastercard» from August 2010. The change in name also brings along some changes in the conditions.
For example: for purchases abroad in foreign currencies an administration fee of 1.5 percent is charged – until now, the fee was 2 percent. But the fact that customers now also have to pay 1.5 percent for purchases in CHF abroad is not very customer-friendly. No other Swiss credit card provider charges administration fees for purchases in CHF abroad. As the comparis.ch enquiries show, no other provider is planning such a fee.
The fee is not charged for purchases on the Internet: according to information from GE Money Bank, the issuer of the «Cumulus-Mastercard», there are no charges for online purchases from providers abroad when the purchases are made in CHF.
It is also new that in the case of partial payments, the interests are only charged from the invoice date and not already from the enter date of the transaction – a step in the right direction. Even more customer-friendly would be if the interests are only charged from the due date, as is the case with other providers.
Additionally, other charges are augmented: instead of calling the hotline on a free number, customers now have to call a normal fixed network number which has to be paid. More expensive than before are also replacement cards, new PIN codes or individual card designs.
As always, customers still get half a Cumulus Point credited for each CHF of purchase. Migros did not change this – unlike Coop. Since recently, Coop only grants customers 1/3 Superpoints per CHF of purchase.
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