Credit Cards in Czech Republic

Credit Cards in Czech Republic

You are probably planning a dream trip to Czech Republic or have already arrived in this “castle capital of the world.” as it’s sometimes called. At the very least, you expect to visit some of the greatest attractions in Czech Republic and just enjoy the beauty of adventure. That is a typical plan of everyone  and it’s very much in order. But, just to distract you a bit, politely though, have you thought about the need to have a reliable credit card which guarantees full ability to pay for every service  during your stay? 

To just understand why thinking about having a credit card in Czech Republic is never a misplaced priority, let’s take a scenario, a closer home example. Here it is; you have arrived in Czech with good sums of money in your normal bank account or cash but end up exhausting your budget. As would be expected, such a situation may turn out to be so desperate yet nobody can lend any money. It is such ugly and desperate situation that having a credit card with a reasonable borrowing limit becomes a life saver. 

Having a credit card in Czech Republic 

You may be wondering how big a challenge it is to access your finances when you travel to a new country. Of course, you may be inconvenienced and sometimes even feel like carrying a huge amount of notes in the domains that are perhaps, acceptable in that country. Do not worry because the good news is that you can conveniently use the credit cards as soon as you arrive in Czech Republic. 

The Credit Card culture has tremendously developed in Czech Republic and for a long time now, it has become extremely easier for individuals and companies to conduct businesses. 

If you are a foreigner visiting Czech Republic for the first time, you can easily access your financial needs without any restrictions. In fact, you will be able to use the credit card that you obtained in your home country here. The interesting part of it is that you can as well apply to secure one as a private individual from any local banks around you. 

Types of Credit Cards accepted in Czech Republic

Generally, major credit cards are accepted in Czech Republic. These include Discover, American Express, Visa and MasterCard. While it is evident that the users of Discover and American Express cards can use them in a large range of places while in Czech Republic, Visa and MasterCard have the highest merchant acceptance. If you’re undecided between which card to go for, you may choose from the last two (Visa and MasterCard) 

If you are visiting the capital Prague or any other tourist attractions sites in the country, you will easily access your funds or pay for various purchases using the credit cards. In most cases, you are likely to notice a poster earmarked, “credit card accepted here”, or “payment by credit card”. However, it is always good to ask the merchant you’re visiting about their services before you embark on making payments. 

Major Banks that Issue Credit Cards in Czech Republic

You can visit any of the following local banks to obtain a credit card: 

  1. Česká spořitelna
  2. CSOB
  3. GE Capital Money Bank
  4. Komercni banka
  5. Raiffeisen Bank
  6. UniCredit Bank CZ
  7. Moneta Money BanK
  8. Sberbank CZ
  9.  PPF Banka

Obtaining a Credit Card in Czech Republic

When visiting Czech Republic for the first time, always ensure to carry with you a credit card that will allow you access funds easily. Although sometimes you may lack one because of a reason or the other, you will be needed to apply for one in such cases. 

The procedure of getting a card here is extremely simple, but varies from one bank to the other. In which case, always ensure to go for the right cards as most people in Czech Republic often confuse the difference between the credit card (kreditní karta) and the debit card (debitní karta). 

In order to avoid any possible misunderstanding and subsequent issuance of a wrong type of card, ensure to tell the bank exactly what you need. Although both cards can be used in the same way i.e. to withdraw money from the cash machines or to make cash transactions, you must always have enough funds when using the latter (credit card). 

How to Apply for Credit Card in Czech Republic 

The requirements for getting credit card in Czech Republic isn’t not any much different from elsewhere. As a starting point, an applicant must be 18 years of age and above to be eligible for a credit card.  In this case, a Driving License or a valid passport is sufficient as a proof of age. These requirements differ for the residents of the European Union and those coming outside of the EU.

An applicant who is a citizen of the EU, will need to produce a temporary residence permit while the long-term residence will also apply to non-EU citizens. Of course, your bank will verify the originality of all these documentation and so only endeavour to present genuine and verifiable documents. 

In some cases, the bank will further request you to produce your employment or contract letter from your employer in order to prove your ability to use the card for its intended purpose. Some may also request you to show your previous bank statements (usually for the past 3 months). So, it is advisable to carry the bank advise with you whenever travelling to Czech Republic. Above all, you will be able to enjoy a wide array of benefits associated with the credit cards transactions with different banks having varying interest rates. 

It is however important to note that the decision to issue you a card lies exclusively with the bank. Never be surprised when your application for a credit card is rejected. You should be aware of the circumstances that may lead to such refusal to grant you a card.

The bank may feel that you do not meet all the criteria for securing one. Additionally, most banks will need to see the availability of at least czk8000 as your bank balance as a matter of qualification.  

Credit Card Charges in Czech Republic 

Just like in using the credit card in your home country, there are certain potential fees to put into consideration when using your card in any place in Czech. You are likely to be subjected to the following two main types of charges. 

Firstly, the currency conversion charges will apply especially when a merchant allows you to make a cash withdrawal or transaction in US dollars. Under such circumstances, you are likely to have no option over the fees being charged during the conversation process.

Secondly, the foreign transaction charges apply when you use the card you obtained in your home country to perform transactions in Czech Republic. These charges will depend on a number of factors such as who the issuer is. Most merchants charge somewhere between 1 to 3 percent fees on the transactions you make in a foreign country. Assuming you spent a total of $100, they are likely to charge fees of up to $3.

Bottom line about credit cards in Czech Republic

Nothing will make life so interesting for you in Czech Republic if you choose to carry your card with you, or if you succeed to obtain one through the detailed procedures above. When deciding which card to go for, be sure to have a better understanding of the charges to be incurred in fees and interests. Remember, it is also important to check your credit reports occasionally as this will ensure that they are reported appropriately.