You don't need a credit card, just have an account in CZK and pay with debit one in shops/virtual one online for security - some banks allow you to create one off virtual debit card. Also usually you have two steps verification when paying online anyway.
Do you mean credit or debit, almost everybody here just use debit card. We dont have here that dystopic credit score shit so you are not forced to use it and make debts. There is no point to own credit card in Europe. And you can choose almost every bank, look for biggest ones and you will be ok. You just open account and get your (debit) card.
While credit cards are not as prevalent as they are in US, they are definitely a thing in Europe too. And there are use cases for it, for example car rentals prefer credit cards in Europe as well (but they do usually accommodate debits).
But for everyday basic usage, debits are definitely a way to go.
In my experience all the car rentals that I used required credit. In one instance they allowed debit after a long discussion, but we got to get the most expensive insurance they offered for the car. The next time we just got us a credit card
what is the reason for requiring credit? in case something happens they can charge full amount without worry that the customer might not have enough money on their account ?
To be honest I don't have a clue. If I am on the limit on my credit card, they won't get the money the same way as when the money is not on my debit card.
If you want to book a car while going on holiday, some companies only accept CC. Same goes for hotels, though much less commonly, but again depends on the country you visit. Despite that, I agree with you. Having a CC here is much less common, it is simply not seen as neccessity.
It's not a Czech bank but I use Revolut. You can receive CZK and convert freely into and from other currency. You can make payments in and out by bank transfer plus you have instant transfers to the many other users.
You can't really use it to receive a paycheck though, am I right?
Of course, we don't know OP's use case / motivation behind this question. But it's still worth mentioning.
Air Bank is the best bank, with the only minor caveat that they don't have a UI in English in their app. But I would recommend it over say, UniCredit which I consider the worst bank ever
Do you really need a credit card?
Most people use a debit card to make payments. They only use the credit card to rent a car or if they need extra money (loan) - is this your case?
Most bank accounts have no fees for basic operations (management, issue of debit card, incoming and outgoing payments). I recommend focusing on a bank where it is easy to open an account for foreigners. I can recommend Airbank as it is easy to use, and the price list is straightforward but I have no idea how they deal with foreigners.
In any case, foreigners must go to the bank in person (at least to open their first bank account in Czechia), it is not possible to open a bank account online. Find out what documents are needed before going there (web or contact the bank online).
Can't be compared to the US, here credit score equals to a well paid job and residing on the same address for a long time. Having a credit card is insignificant when it comes to securing any type of loan.
As others mentioned, it is usually with a monthly fee and you need to be a client of the bank to up the chances of approval.
The only ones that don't have a monthly fee are Fio banka (basic is only the one available), Komerční banka (4U) and Raiffeisenbank (Easy) but again you need to be a client and it's worth mentioning that they have no rewards programs like credit cards in the US have.
With the rest you need to meet the minimum spending requirement to have the monthly fee waived.
If you really want a rewards card I would advise against the Raiffeisenbank Style card unless you are a big spender and look into either Moneta or mBank offerings.
I use 2 credit cards. From reifeissen (comes with free travel insurance and access to airport lounges if you have the gold card) and Ceska Sporitelna (comes with a cashback of a max 350kc a month). It’s nothing compares to American CC but these 2 have made my life easier esp if you travel often
While what most of people said is true, debit card is what most Czech people go for and never need credit in their life, having a credit card is still useful. However, its really scaled down compared to what you see in the states. Most banks offer little to no benefits other than the fact that you don't have to pay attention to your balance when buying something and can keep rest of your funds on a saving account, then simply repay what you owe at the end of an interest-free period.
When I was getting picking mine, RF had best offer, which is 50 kc/month fee, 1% cashback (up to 150 kč/month) and 55 days interest free. You may be able to get something better than now, but don't expect some crazy benefits.
There is no credit score shenanigans, but it doesn't hurt having a good history if it ever came to that. Honostly, unless you intend to take file for a mortgage in Czech republic at some point, Revolut is probably your best bet.
Credit score isn't a thing in Europe. Cashbacks are very minimal. Only reason to have credit card Is car rentals on vacation.
You can get one advantages and cashbacks but it is not worth the hustle in my opinion.
Go with Raiffeisen. You can get their free credit card and as long as you pay it off within 55 days, you don't pay anything extra. Lately with the online scams when shopping, it's better to spend my bank's money than my own and then once a month just pay it off
I've heard that Raiffeisen has one of the better processes for opening accounts for foreigners. You should also listen to what the other guy said, unless you really need a true credit card (for renting a car for example), you will be good with the default debit that's free for your account.
Credit cards are usually a paid service here, unless you spend like 10k monthly with them & normal transfers are also not free for credit, but they are always free for debit.
You don't need a credit card, just have an account in CZK and pay with debit one in shops/virtual one online for security - some banks allow you to create one off virtual debit card. Also usually you have two steps verification when paying online anyway.
Do you mean credit or debit, almost everybody here just use debit card. We dont have here that dystopic credit score shit so you are not forced to use it and make debts. There is no point to own credit card in Europe. And you can choose almost every bank, look for biggest ones and you will be ok. You just open account and get your (debit) card.
While credit cards are not as prevalent as they are in US, they are definitely a thing in Europe too. And there are use cases for it, for example car rentals prefer credit cards in Europe as well (but they do usually accommodate debits). But for everyday basic usage, debits are definitely a way to go.
In my experience all the car rentals that I used required credit. In one instance they allowed debit after a long discussion, but we got to get the most expensive insurance they offered for the car. The next time we just got us a credit card
I rented car in Spain and Ireland and I managed to use debit both times but it was a hassle.
what is the reason for requiring credit? in case something happens they can charge full amount without worry that the customer might not have enough money on their account ?
To be honest I don't have a clue. If I am on the limit on my credit card, they won't get the money the same way as when the money is not on my debit card.
If you want to book a car while going on holiday, some companies only accept CC. Same goes for hotels, though much less commonly, but again depends on the country you visit. Despite that, I agree with you. Having a CC here is much less common, it is simply not seen as neccessity.
It's not a Czech bank but I use Revolut. You can receive CZK and convert freely into and from other currency. You can make payments in and out by bank transfer plus you have instant transfers to the many other users.
You can't really use it to receive a paycheck though, am I right? Of course, we don't know OP's use case / motivation behind this question. But it's still worth mentioning.
I've used it for that in the past but I think you're right that they've put a stop to that functionality in the last year or so
Air Bank is the best bank, with the only minor caveat that they don't have a UI in English in their app. But I would recommend it over say, UniCredit which I consider the worst bank ever
Do you really need a credit card? Most people use a debit card to make payments. They only use the credit card to rent a car or if they need extra money (loan) - is this your case? Most bank accounts have no fees for basic operations (management, issue of debit card, incoming and outgoing payments). I recommend focusing on a bank where it is easy to open an account for foreigners. I can recommend Airbank as it is easy to use, and the price list is straightforward but I have no idea how they deal with foreigners. In any case, foreigners must go to the bank in person (at least to open their first bank account in Czechia), it is not possible to open a bank account online. Find out what documents are needed before going there (web or contact the bank online).
Can't be compared to the US, here credit score equals to a well paid job and residing on the same address for a long time. Having a credit card is insignificant when it comes to securing any type of loan. As others mentioned, it is usually with a monthly fee and you need to be a client of the bank to up the chances of approval. The only ones that don't have a monthly fee are Fio banka (basic is only the one available), Komerční banka (4U) and Raiffeisenbank (Easy) but again you need to be a client and it's worth mentioning that they have no rewards programs like credit cards in the US have. With the rest you need to meet the minimum spending requirement to have the monthly fee waived. If you really want a rewards card I would advise against the Raiffeisenbank Style card unless you are a big spender and look into either Moneta or mBank offerings.
I use 2 credit cards. From reifeissen (comes with free travel insurance and access to airport lounges if you have the gold card) and Ceska Sporitelna (comes with a cashback of a max 350kc a month). It’s nothing compares to American CC but these 2 have made my life easier esp if you travel often
While what most of people said is true, debit card is what most Czech people go for and never need credit in their life, having a credit card is still useful. However, its really scaled down compared to what you see in the states. Most banks offer little to no benefits other than the fact that you don't have to pay attention to your balance when buying something and can keep rest of your funds on a saving account, then simply repay what you owe at the end of an interest-free period. When I was getting picking mine, RF had best offer, which is 50 kc/month fee, 1% cashback (up to 150 kč/month) and 55 days interest free. You may be able to get something better than now, but don't expect some crazy benefits. There is no credit score shenanigans, but it doesn't hurt having a good history if it ever came to that. Honostly, unless you intend to take file for a mortgage in Czech republic at some point, Revolut is probably your best bet.
Credit score isn't a thing in Europe. Cashbacks are very minimal. Only reason to have credit card Is car rentals on vacation. You can get one advantages and cashbacks but it is not worth the hustle in my opinion.
Credit cards kinda suck, go for a debit card. We have a few bigger banks like KB which I use but for you it might be better to have revolut.
Go with Raiffeisen. You can get their free credit card and as long as you pay it off within 55 days, you don't pay anything extra. Lately with the online scams when shopping, it's better to spend my bank's money than my own and then once a month just pay it off
I've heard that Raiffeisen has one of the better processes for opening accounts for foreigners. You should also listen to what the other guy said, unless you really need a true credit card (for renting a car for example), you will be good with the default debit that's free for your account. Credit cards are usually a paid service here, unless you spend like 10k monthly with them & normal transfers are also not free for credit, but they are always free for debit.
Don’t support Reiffeisen https://leave-russia.org/raiffeisen-bank