Last November, The Banque Internationale à Luxembourg (BIL) informed us that on January 1st, all the MasterCards would be replaced by VISA Gold cards (or Gold International without the BIL logo). We relayed this information and processed the changes with our MasterCard holders. But what is the difference between the two cards?

In terms of how they operate, there is no difference. The VISA cards can be used to make payments and cash withdrawals anywhere in the world (note that VISA, like MasterCard, charges €4 + 2.5% of the amount withdrawn). The maximum amount of withdrawals is €1,500.00/day and the monthly expenses are debited from your account in euros, once a month.

The difference between these two cards is that the VISA Gold offers more insurance than its predecessor MasterCard. You will find the same assistance services and travel insurance, and in addition, VISA insures your deliveries of goods purchased on the internet, as well as your purchases, or even the loss, theft or deterioration of ski equipment.

When you first request a credit card, AMFIE will create a "Blocked Credit Card Account in EUR" within your existing AMFIE account, for which the balance will correspond to one time the monthly card limit. This account serves interest.

If you have chosen to have your salary or pension permanently transferred to AMFIE, no amount will be blocked to guarantee the monthly expenses. However, the credit card monthly credit limit may not exceed 75% of the standing order amount.

Your account balance must not fall below a minimum of one time the monthly card limit (unless you set up a permanent transfer to your AMFIE account).

The cost of the VISA Gold card is €60/year and that of the VISA Gold International is €100/year. You can also subscribe to a VISA Classic, which is offered by AMFIE. The VISA Classic is a credit card that offers purchase and travel insurance to a lesser extent. You will find details concerning insurance coverage for each credit card on our website www.amfie.org.