Alpha Bank Bonus Visa
Free year 1 · Bonus points convertible to Aegean miles · Cashback Mastercard also available
Score Breakdown
Last updated: March 2026
Quick Facts
Full Fee Table
| annual Fee | €0 year 1, then €30/year |
| monthly Fee | €0 |
| fx Fee | ~1.5% |
| atm Fee | Fee applies |
| apr | 17.75% purchases / 19% cash advances |
| cash Advance Fee | ~3% |
| late Fee | Fee applies |
Alpha Bank Cyprus offers the Bonus Visa with no fee in year one and a €30/year fee thereafter. The Bonus points scheme converts to Aegean Airlines miles — useful for anyone flying frequently. A Cashback Mastercard is also available. Requires proof of local income.
🎯 Best for: Rewards & cashback for established residents
Overview
Alpha Bank Cyprus's Bonus Visa is the best rewards credit card among local Cypriot banks. The first year is free, and the Bonus points scheme — which converts to Aegean miles — provides genuine value for anyone flying from Cyprus regularly.
Fees & Costs
Free in year one, then €30/year — reasonable for a rewards card. The 1.5% FX fee is standard for local banks. The 17.75% APR makes it essential to pay the full balance every month. The Cashback Mastercard variant offers straight cashback instead of points.
Card Acceptance
Full Visa and Mastercard acceptance — car rentals, hotels, international use, all standard.
Perks & Rewards
The Bonus points scheme is the main draw. Points accumulate on all spending and convert to Aegean Miles+Bonus miles — useful given Cyprus's main hub at Larnaca. Up to 50 days interest-free period if the full balance is paid.
Our Verdict
A good choice for established Cyprus residents who want to earn Aegean miles or cashback on their local spending. Not accessible to new arrivals without proof of local income.
✅ Pros
- ✓Free in year one — €0 annual fee first year
- ✓Bonus points convertible to Aegean miles
- ✓Cashback Mastercard also available
- ✓Up to 50 days interest-free on purchases
- ✓Apple Pay and Google Pay
- ✓Part of established Alpha Bank group
❌ Cons
- ✗Requires proof of local income
- ✗Requires Alpha Bank current account
- ✗€30/year fee from year two
- ✗~1.5% FX fee on foreign transactions
- ✗17.75% APR — pay in full every month
- ✗Application takes 3–5 weeks
Who Can Apply
- →Alpha Bank Cyprus current account
- →Cyprus proof of address
- →Proof of income (payslips, employment contract)
- →Valid passport or ID
How to Apply
- 1 Open an Alpha Bank Cyprus current account
- 2 Visit your Alpha Bank branch
- 3 Request a credit card application
- 4 Submit income and address documentation
- 5 Wait for credit assessment (3–5 weeks)
- 6 Card delivered to your Cyprus address
Learn More About Alpha Bank Bonus Visa
Visit the official website for current terms and to apply.