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Best Credit Cards Sweden
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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.
Requirements
| Requirements | Details |
|---|---|
| Minimum Age | 18 years |
| Employment Status | Must be employed |
| Payment Defaults Allowed | None (no payment remarks) |
Quick Facts
| Quick Facts | Details |
|---|---|
| Annual Fee | 0 SEK |
| Maximum Credit Limit | 150,000 SEK |
| Interest Rate | 23.00% |
| Effective Interest Rate | 25.59% |
| Interest-Free Period | 45 days |
| Card Type | Visa |
| Cash Withdrawal Fee | 0% |
| Foreign Currency Fee | 1.99% |
| Invoice Fee | 45 SEK (0 SEK with e-invoice) |
| Reminder Fee | 60 SEK |
| Late Payment Fee | 95 SEK |
| Overdraft Fee | 0 SEK |
| Google Pay | Yes |
| Apple Pay | Yes |
| Samsung Pay | Yes |
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..
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Requirements
| Requirements | Details |
|---|---|
| Minimum Age | 20 years |
| Minimum Annual Income | 150,000 SEK |
| Payment Defaults Allowed | None (no payment remarks) |
Quick Facts
| Quick Facts | Details |
|---|---|
| Annual Fee | 0 SEK |
| Maximum Credit Limit | 120,000 SEK |
| Interest Rate | 9.74% – 21.90% |
| Effective Interest Rate | 8.10% – 19.84% |
| Interest-Free Period | Up to 56 days |
| Card Type | Mastercard |
| Cash Withdrawal Fee | 3.00% (min. 35 SEK) |
| Foreign Currency Fee | 2.00% |
| Invoice Fee | 39 SEK (0 SEK with e-invoice) |
| Reminder Fee | 60 SEK |
| Late Payment Fee | 125 SEK |
| Overdraft Fee | 95 SEK |
| Free Additional Card | Yes |
| Google Pay | Yes |
| Apple Pay | Yes |
| Samsung Pay | Yes |
| Payment Holidays | Up to 2 payment-free months per year |
Example: Effective interest rate 18.91% for utilized credit of SEK 30,000 repaid over 1 year (2025-07-01)
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Requirements
| Requirements | Details |
|---|---|
| Minimum Age | 18 years |
| Minimum Monthly Income | 1,042 SEK |
| Payment Defaults Allowed | None (no payment remarks) |
Quick Facts
| Quick Facts | Details |
|---|---|
| Annual Fee | 225 SEK |
| Maximum Credit Limit | 100,000 SEK |
| Interest Rate | 16.74% |
| Effective Interest Rate | 14.75% – 19.27% |
| Interest-Free Period | 55 days |
| Card Type | Mastercard |
| Cash Withdrawal Fee | 2.00% (min. 40 SEK) |
| Foreign Currency Fee | 0% |
| Invoice Fee | 29 SEK (0 SEK with e-invoice) |
| Reminder Fee | 60 SEK |
| Late Payment Fee | 100 SEK |
| Overdraft Fee | 125 SEK |
| Google Pay | Yes |
| Apple Pay | Yes |
Example: The effective interest rate is 16.73% when paying with e-invoice (20.37% with paper invoice) for a utilized credit of 20,000 SEK repaid over 1 year (2025-03-08)
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Requirements
| Requirements | Details |
|---|---|
| Minimum Age | 20 years |
| Minimum Monthly Income | 10,417 SEK |
| Payment Defaults Allowed | None (no payment remarks) |
Quick Facts
| Quick Facts | Details |
|---|---|
| Annual Fee | 0 SEK first year, then 295 SEK annually |
| Maximum Credit Limit | 160,000 SEK |
| Interest Rate | 18.24% |
| Effective Interest Rate | 18.91% |
| Interest-Free Period | 55 days |
| Card Type | Mastercard |
| Cash Withdrawal Fee | 3.00% (min. 45 SEK) |
| Foreign Currency Fee | 1.65% |
| Invoice Fee | 35 SEK (0 SEK with e-invoice) |
| Reminder Fee | 60 SEK |
| Late Payment Fee | 115 SEK |
| Overdraft Fee | 105 SEK |
| Google Pay | Yes |
| Apple Pay | Yes |
| Samsung Pay | Yes |
The effective interest rate is 18.91% when paying by e-invoice for a used credit of SEK 20,000 repaid over 1 year (September 2025).
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
| Quick Facts | Details |
|---|---|
| Annual Fee | 0 SEK first year, then 395 SEK annually |
| Maximum Credit Limit | 150,000 SEK |
| Interest Rate | 16.90% |
| Effective Interest Rate | 18.99% |
| Interest-Free Period | 50 days |
| Card Type | Mastercard |
| Cash Withdrawal Fee | 3.00% (min. 35 SEK) |
| Foreign Currency Fee | 1.65% |
| Invoice Fee | 25 SEK (0 SEK with e-invoice) |
| Reminder Fee | 60 SEK |
| Late Payment Fee | 95 SEK |
| Overdraft Fee | 75 SEK |
| Google Pay | Yes |
| Apple Pay | Yes |
| Samsung Pay | Yes |
Example: For a credit amount of SEK 100,000 with a variable annual interest rate of 10.65%, an 8-year term (repayment period), 96 repayments, an arrangement fee of SEK 0 and a notice fee of SEK 10 (when paying by direct debit), the effective interest rate is 11.39%. The regular monthly amount to be paid is SEK 1,562 and the total amount to be paid is SEK 150,852. The example, which is calculated on 2025-05-23, assumes that interest and fees are unchanged throughout the credit period. Rounding is applied to the nearest higher krona. The interest rate is variable and can vary from 6.65% – 17.69%, which means that the effective interest rate can vary from 6.89% – 20.14%. The effective interest rate is calculated in accordance with the Swedish Consumer Agency’s guidelines.
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
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.
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:
- 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.
- 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.
- 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.
- Review and Submit: Double-check your application for accuracy before submitting it. Errors can delay processing or impact your approval chances.
- 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.
- 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.
FAQ
Frequently Asked Questions
Yes, you can have multiple credit cards. Having more than one can be beneficial for managing finances, maximizing rewards, and building credit. However, it’s important to manage them responsibly to avoid debt and negative impacts on your credit score.
The easiest credit card to get often depends on your credit history. For those with limited or no credit history, Bank Norwegian offers a credit card that is relatively easy to obtain compared to others. Always review the terms and eligibility criteria before applying.
MasterCard and Visa are two major payment networks that process credit card transactions. Both are widely accepted globally, but they differ slightly in their specific benefits, offers, and merchant acceptance. The choice between MasterCard and Visa often depends on the specific card issuer and the benefits they provide rather than the network itself.
