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Example: The credit interest rate is 23.00%. The annual fee is 0 SEK. When using a credit of 10,000 SEK with repayment through 12 monthly payments of 941 SEK, the effective interest rate is 25.59%. The total amount to be repaid is 11,292 SEK. The example is calculated in March 2025 and the interest rate is variable..

Credit cards are a popular financial tool in Sweden, offering convenience and a range of benefits to users. They provide a secure way to make purchases, both online and in-store, and can help manage finances by tracking spending. Many credit cards in Sweden come with rewards programs, cashback options, and protection against fraud, making them an attractive choice for residents and newcomers alike.

Best Credit Cards for Expats

The best credit cards for expats often feature low fees, attractive exchange rates, and useful rewards that align with their new lifestyle. These cards are designed to meet the unique needs of individuals adjusting to life in Sweden, offering everything from travel insurance to bonus points on international spending. By choosing the right credit card, expats can streamline their financial transactions, enjoy valuable benefits, and seamlessly integrate into their new financial environment.

Guide to credit cards

Credit cards offer a convenient way to pay for goods and services, allowing users to borrow funds up to an established limit for purchases, cash advances, and balance transfers.

How credit cards work

Credit cards are financial tools that allow you to borrow money up to a certain limit to make purchases, withdraw cash, or transfer balances. When you use a credit card, you’re essentially taking out a loan for the amount you spend.

Each month, the credit card company sends you a statement detailing your transactions, the total amount owed, and the minimum payment due. If you don’t pay the full balance by the due date, interest is charged on the remaining amount.

How credit card rewards work

Credit card rewards are incentives provided to users for making purchases with their cards. These rewards can come in various forms, such as cashback, points, or miles. Cashback rewards return a percentage of your spending back to you. Points and miles can be collected and redeemed for goods, services, travel, or other benefits. The key to maximizing credit card rewards is to understand the reward program’s structure and use the card strategically to earn and redeem rewards effectively.

Credit card interests

Credit card interest is the cost you pay for borrowing money from the credit card issuer. If you don’t pay off your full balance by the due date, the issuer will charge interest on the remaining amount. The interest rate, often referred to as the Annual Percentage Rate (APR), varies between cards and users based on creditworthiness and other factors.

Interest is calculated based on your card’s average daily balance and the APR. If you only make the minimum payment, the remaining balance carries over to the next billing cycle, accruing more interest. Understanding how interest accumulates can help you manage your credit card use more effectively and avoid unnecessary charges.

What you need to get a credit card in Sweden

Fast checklist

• Age: 18+
• Personnummer (Swedish personal identity number)
• Folkbokförd address (registered in Sweden)
• BankID (for signing applications)
• Swedish phone number
• Regular taxable income in Sweden
• No betalningsanmärkning (no payment defaults)
• Valid photo ID (passport or Swedish ID card)
• Personbevis (address confirmation from Skatteverket)
• Recent payslips / employment contract
• Residence permit card (if non-EU)
• Swedish bank account (clearing + account)
• E-faktura or autogiro (for invoices and repayments)

Eligibility basics

To apply, you must be at least 18 years old, have a personnummer, be registered with a folkbokförd address, and usually have access to BankID for e-signing. A Swedish phone number is also required, since most issuers verify applications via SMS or BankID.

Income requirements

Credit card issuers expect regular, documented income such as salary, pension, or business income. New employees on probation may still be approved but often with lower credit limits. If you are self-employed, prepare to show your F-skattsedel, tax returns, and bank statements.

Documents needed

You will typically need a valid ID (passport or Swedish ID card), a personbevis from Skatteverket, employment contract plus 3 recent payslips, and residence permit card if you are non-EU. Proof of address such as a rental contract can also be requested.

Bank and billing setup

A Swedish bank account is required for billing. Most issuers strongly recommend using e-faktura or autogiro to avoid paper invoice fees and reduce the risk of missed payments.

Credit check

Applications trigger a check with UC, Bisnode or Creditsafe. Too many applications in a short time lower approval chances. Any betalningsanmärkning (payment default) is a serious obstacle and remains on record for 3 years.

For newcomers without personnummer

Without a personnummer, approval is very rare. The usual route is to first open a bank account, get BankID, and build history. Later you can apply for a low-limit starter card. International providers may be an option in the meantime, but Swedish banks generally require full local KYC.

How to apply for a credit card

Applying for a credit card is a straightforward process that often is completed online. Whether you’re looking for your first card or adding another to your wallet, understanding the application steps can help you navigate the process smoothly.

Step-by-Step Guide to Applying for a Credit Card Online:

1. Research and Compare: Start by researching different credit cards to find the one that best suits your needs. Consider factors like interest rates, rewards, fees, and eligibility requirements.
2. Check Your Credit Score: Your credit score is a key factor in determining your eligibility for a credit card. Check your score beforehand to gauge your chances of approval.
3. Fill Out the Application: Go to the credit card issuer’s website and complete the application form. You’ll need to provide personal information, including your name, address, income, and employment details.
4. Review and Submit: Double-check your application for accuracy before submitting it. Errors can delay processing or impact your approval chances.
5. Wait for Approval: After submission, you’ll typically receive a response within a few minutes to a few days, depending on the issuer. Some applications might require additional review or documentation.
6. Receive Your Card: Once approved, you’ll receive your credit card by mail. Activate it according to the issuer’s instructions, and you’re ready to start using it.

How Swedish credit checks work (UC, Bisnode, Creditsafe)

Credit bureaus in Sweden

When you apply for a credit card, the issuer checks your financial background with one of Sweden’s main bureaus: UC, Bisnode, or Creditsafe. UC is the most widely used and is owned by the country’s largest banks. The report shows your income, existing loans, payment history, and debts. Each application leaves a trace (kreditförfrågan) that other lenders can see.

Impact of multiple applications

Too many applications in a short time can reduce your chances of approval. Lenders may interpret repeated checks as a sign of financial stress or overborrowing, even if you have not taken on new debt. It is often better to compare cards first and then apply for only one or two.

Betalningsanmärkning explained

A betalningsanmärkning is a registered payment default. It appears if you fail to pay a debt after collection and enforcement. Even small unpaid bills (like mobile subscriptions) can trigger one. A payment remark remains on your record for three years and can make it harder to:

• Rent housing (landlords often check UC)
• Sign contracts for phone, internet, or electricity
• Get new loans or credit cards

Practical tip

If you fear rejection, you can request your own UC report before applying. This lets you check your score, see existing loans, and verify if any remarks are registered.

Applying without a long Swedish history

Expats and newcomers often face stricter checks because they lack a long Swedish credit history. Without many years in the system, banks rely more heavily on your income, employment stability, and housing situation to decide whether to approve you.

Documents that help

To improve your chances, prepare:

• Employment contract (preferably permanent, but even probation contracts show stability).
• Salary slips from the last 3 months.
• Tenancy contract or proof of stable housing.
• Personbevis from Skatteverket confirming your address.
• Residence permit card (if non-EU).

Practical expectations

Even with solid paperwork, issuers may only grant low initial credit limits. This is normal for new residents and can be improved over time with responsible usage. Paying on time, using autogiro or e-faktura, and avoiding missed payments builds a positive record with UC and other bureaus.

Tips for newcomers

Start with one basic credit card rather than applying for several. Use it regularly, pay in full each month, and after 6–12 months request a limit increase. This demonstrates both reliability and ability to handle credit, gradually aligning you with long-term Swedish residents in the eyes of lenders.

Glossary: Swedish Credit-Card Terms

The table below explains common Swedish terms you will encounter when applying for or using credit cards in Sweden.

Term	Meaning	Explanation
Effektiv ränta	Effective interest rate	Shows the true yearly borrowing cost, including nominal interest, fees, and compounding. Used for comparing credit offers under Swedish law.
Nominell ränta	Nominal interest rate	The base annual interest rate excluding fees. Always lower than the effektiv ränta, but less useful for real comparisons.
Betalningsanmärkning	Payment default record	Registered if you fail to pay debts after collection. Stays on your credit file for 3 years and blocks loans, contracts, and rentals.
Delbetalning	Instalment plan	Option to split purchases into monthly payments. Usually comes with extra fees and higher effective interest costs.
E-faktura	Electronic invoice	Digital invoice linked to your internet bank. Cheaper (often free) compared to paper invoices and helps avoid late payments.
Autogiro	Direct debit	Automatic withdrawal from your bank account on due dates. Prevents missed payments and late fees.
Valutapåslag	Foreign transaction fee	Extra fee (commonly 1.5–2%) added on purchases in non-SEK currencies. Some cards offer 0% valutapåslag for travelers.
Kontantuttag	Cash withdrawal	Withdrawing cash using your credit card. Interest applies immediately, plus fixed fees per withdrawal.
Köpskydd	Purchase protection	Insurance covering stolen, damaged, or undelivered goods bought with the card. Conditions vary by issuer.
Reklamation	Claim / dispute	The process to contest a faulty or non-delivered purchase. Can escalate to chargeback or to ARN (consumer complaints board).
Spärrservice	Card blocking service	24/7 service to block your card if it’s lost or stolen. Often a single phone number for multiple banks in Sweden.