3 ms·

How generous are credit card rewards in the EU?

by criddell 2mo ago

bluebarbet 2mo ago
Presumably not very, because the large majority of Europeans do not use credit cards.
- SXX 2mo ago
  I'd say it heavily depend on country. In some of them they are popular, but in others even debit cards is something only few people have.
SXX 2mo ago
Normal cards not very generous. Fintech can sometimes give 1% cashback capped at 30-50-100 EUR. Some weird crypto stuff can give more cashback, but it mostly for scheming nerds.
AnssiH 2mo ago
My understanding is that they are much less generous on average compared to U.S. E.g. for now I have the most premium card offered by my bank (50€/mo), and it gets me extra product insurance, rental car insurance, travel insurance, free lounge access, and some other things like that, but no cashback or similar. I think some premium cards do offer cashback nowadays, but they are in the minority. Some cards also offer airline reward points. My experience is limited to Finland, though.
- Hikikomori 2mo ago
  US are not generous either. Merchant increase prices by 5% to cover costs, you get 2.5% cashback and visa/your bank pockets the other 2.5% you're paying.
throwaway_20357 2mo ago
Usually ~1%. Some direct cashback, some via rewards points (e.g. 1.5 AMEX MRP earned per EUR are roughly worth 1ct).
graemep 2mo ago
There are similar caps in the UK and most credit card rewards seem to be low after an initial offer period. There are some specific discounts and benefits but not cash rewards. It is illegal (not banks will not let you, actual legislation) here to charge more for card payments or discount for cash or bank transfer.
edent 2mo ago
In the UK (which broadly follows the same rules), I get 0.25% with a Visa and 1.25% with Amex. Sometimes there are introductory offers for a few months.
- Symbiote 2mo ago
  And as a result of that, Amex is often not accepted.
  - rsynnott 2mo ago
    And is largely dying out as far as I can see; it’s only even still issued in a couple of European countries.
  - edent 2mo ago
    Looking at my spending in the UK, about 90% goes through Amex. Even the small corner shop takes it.
- SXX 2mo ago
  At least in the UK Amex interchange fees are not capped like Visa and Mastercard.
- Steve44 2mo ago
  I only get cashback on my Amex, nothing with Visa or Mastercard; perhaps I could shop around but over 90% goes on my Amex so haven't bothered to.
amarcheschi 2mo ago
With sumup I get 0.5% cashback up to a whopping 10€/ month lol. There are other cards giving cashback, I think Amex blu has a 1% with no upper bound of monetary cashback
- LeonidasXIV 2mo ago
  Amex has very spotty acceptance rate in Europe.
skeletal88 2mo ago
There are basically none, because the fees are low and card issuers are not allowed to rob retailers with insane fees. If you have a cafe or restaurant where margins are already low then it would be crazy to pay additional 2-3% tax on every payment. No one wants to accept amex here.

How generous are credit card rewards in the EU?

bluebarbet 2mo ago

Presumably not very, because the large majority of Europeans do not use credit cards.

SXX 2mo ago
I'd say it heavily depend on country. In some of them they are popular, but in others even debit cards is something only few people have.

SXX 2mo ago

Normal cards not very generous. Fintech can sometimes give 1% cashback capped at 30-50-100 EUR. Some weird crypto stuff can give more cashback, but it mostly for scheming nerds.

AnssiH 2mo ago

My understanding is that they are much less generous on average compared to U.S. E.g. for now I have the most premium card offered by my bank (50€/mo), and it gets me extra product insurance, rental car insurance, travel insurance, free lounge access, and some other things like that, but no cashback or similar. I think some premium cards do offer cashback nowadays, but they are in the minority. Some cards also offer airline reward points. My experience is limited to Finland, though.

Hikikomori 2mo ago
US are not generous either. Merchant increase prices by 5% to cover costs, you get 2.5% cashback and visa/your bank pockets the other 2.5% you're paying.

throwaway_20357 2mo ago

Usually ~1%. Some direct cashback, some via rewards points (e.g. 1.5 AMEX MRP earned per EUR are roughly worth 1ct).

graemep 2mo ago

There are similar caps in the UK and most credit card rewards seem to be low after an initial offer period. There are some specific discounts and benefits but not cash rewards. It is illegal (not banks will not let you, actual legislation) here to charge more for card payments or discount for cash or bank transfer.

edent 2mo ago

In the UK (which broadly follows the same rules), I get 0.25% with a Visa and 1.25% with Amex. Sometimes there are introductory offers for a few months.

Symbiote 2mo ago
And as a result of that, Amex is often not accepted.
- rsynnott 2mo ago
  And is largely dying out as far as I can see; it’s only even still issued in a couple of European countries.
- edent 2mo ago
  Looking at my spending in the UK, about 90% goes through Amex. Even the small corner shop takes it.
SXX 2mo ago
At least in the UK Amex interchange fees are not capped like Visa and Mastercard.
Steve44 2mo ago
I only get cashback on my Amex, nothing with Visa or Mastercard; perhaps I could shop around but over 90% goes on my Amex so haven't bothered to.

amarcheschi 2mo ago

With sumup I get 0.5% cashback up to a whopping 10€/ month lol. There are other cards giving cashback, I think Amex blu has a 1% with no upper bound of monetary cashback

LeonidasXIV 2mo ago
Amex has very spotty acceptance rate in Europe.

skeletal88 2mo ago

There are basically none, because the fees are low and card issuers are not allowed to rob retailers with insane fees. If you have a cafe or restaurant where margins are already low then it would be crazy to pay additional 2-3% tax on every payment. No one wants to accept amex here.