Credits Cards, Part 2

A look at interest rates, credit limits, and more

Written by David Creighton
for Expats.cz

Comparing credit card offers can be a lengthy process in the Czech Republic. You may have to wait some time in a branch or spend ages getting through to a customer service adviser by telephone. And getting information in English can take even longer, although you´ll find that such material is usually available. So here´s a brief summary of credit card services offered by the major three Czech banks. Please note that the information contained in this article is only an overview; for details please consult your bank.



Ceská spořitelna

Cards offered
This bank offers a number of international embossed credit cards, including: Kredit+ MasterCard Partner, Kredit+ Visa Classic Partner; Kredit+ MasterCard Gold and  Kredit+ Visa Gold.

Features & Benefits
As elswhere, these cards can be used to make non-cash payments for goods and services at sales points marked with the Visa or MasterCard logo throughout the world. They can also be used to make payments via the Internet. The credit cards offered by ČS have all the standard benefits, such as offering easy access to finance, convenient use, card acceptance everywhere, an advantageous interest rate, loans without guarantors and special client bonus programmes. Kredit+ MasterCard Gold &  Kredit+ Visa Gold are aimed at wealthier customers and have additional benefits accordingly. Standard features of CŠ credit cards also include:

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-Cash withdrawals at bank counters
-Client call service
-Emergency assistance abroad if card is lost, damaged or stolen
-Optional travel insurance (included as standard with Kredit+ MasterCard Gold and Kredit+ Visa Gold packages)
-Card replacement if lost

Limits
The minimum credit limit for a cardholder is CZK 20,000; the maximum is CZK 149,000. The standard limits for cash withdrawals from CS ATMs and those of other banks varies according to the card. With the Kredit+ MasterCard Partner & Kredit+ Visa Classic Partner cards the limit is CZK 15,000 per day (cash) and CZK 50,000/5 days for non-cash payments. With the Kredit+ MasterCard Gold and Kredit & Visa Gold the limits are CZK 50,000 per day (cash) and CZK 150,000/5 days for non-cash transactions. Limits may be adjusted at the request of the client.

Interest
-45 days interest-free period for non-cash payments
-Minimum monthly repayment fee of only 5% of the credit drawn
-Cash withdrawals incur interest.

More Information
For more information, including details of fees and current interest rates contact your local branch. Alternatively, phone the credit card call centre on 266 703 841.

ČSOB

Cards offered
This bank offers MasterCard (both embossed and non-embossed) and MasterCard Gold.

Features and Benefits
As elsewhere, these cards can be used to make non-cash payments for goods and services at sales points marked with the MasterCard logo throughout the world. They can also be used to make payments via the Internet. The credit cards offered by ČSOB  have all the standard benefits, such as offering easy access to finance, convenient use, card acceptance everywhere, an advantageous interest rate and loans without guarantors. The MasterCard Gold is aimed at wealthier customers and has additional benefits accordingly. Standard features of ČSOB credit cards also include:

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-Minimum monthly repayment fee of 5% of the drawn credit amount.
-When using credit card to withdraw cash from ATM the fee is CZK 5 plus 1% of the withdrawn amount
-Weekly limit is the full approved limit for the credit card.
-Upon the client´s request the weekly limit can be reduced.
-Possibility of choosing maturity date, e.g. after pay day.
-Automatic travel insurance for Credit Car Gold cardholders.

Limits
With unembossed card the credit limit is CZK 5,000 to CZK 250,000; the credit limit for a standard embossed card ranges from CZK 15,000 to CZK 250,000. The Gold card limit ranges from CZK 100,000 to CZK 500,000.

Interest
-45 days interest-free period for non-cash payments
-Interest-free withdrawals from ATMS. These can be up to 20% of the weekly limit of the credit card.

More Information
For more information, including details of fees and current interest rates contact your local branch. Alternatively, call the information line on 495 800 181.

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Komerční banka

Cards offered
This bank offers international embossed credit cards including MasterCard, and Visa Electron.

Features & Benefits
As elswhere, these cards can be used to make non-cash payments for goods and services at sales points marked with the MasterCard logo throughout the world. The credit cards offered by ČS have all the standard benefits, such as offering easy access to finance, convenient use, card acceptance everywhere, an advantageous interest rate and loans without guarantors. Standard features of KB credit cards also include:

-Possibility of raised credit limit
-Monthly payments – obligatory 5% of drawn credit & interest (applies to VISA Electron)
-Insurance against loss of ability to pay due to illness, unemployment etc. (applies to VISA Electron)
-travel insurance (applies to VISA Electron)
-Option of credit card activation for making Internet payments

Limits
The limit for VISA Electron cardholders ranges from CZK 10,000 to CZK 40,000. The limit for MasterCard cardholders ranges from CZK 30,000 to CZK 150,000

Interest
-45 days interest-free period for non-cash payments. This period also applies to ATM and bank withdrawals.

More Information
For more information, including details of fees and current interest rates contact you local branch. Alternatively phone the information line on 800 111 055

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