Credit Cards in Sweden

Credit Cards in Sweden

Sweden is a popular destination for many expats for a number of reasons. The Swedish government has invested in making every visitor feel a sense of calmness and comfortable when staying in the country. So don’t be surprised by the good quality of life you will enjoy while in the country. Besides, you will also have access to affordable education and healthcare. 

Even from a city or urban center, you can still access forests and lakes for a good time after a long day at work. However, there are disadvantages to living in Sweden. For instance, it will be very difficult to find accommodation. Besides, Sweden is known for being expensive, especially in cities such as Stockholm. 

Though most businesses in the country still accept cash payments, the country is focused on going cashless. So, you will need a good and reliable credit card provider in Sweden. Using a credit card in the country is as good as it gets; Visa and Mastercard are widely accepted, with American Express slightly behind.

Using a Credit Card in Sweden

There are many perks that come with using your credit card in Sweden. To some people, a credit card is just a convenient way to pay for stuff when you don’t have cash. To others, it is a regular debit card. Whichever way you view your credit card, it will still add some value to your life. 

For instance, using your credit card gives you a chance to build credit and improve your UC credit score. It also gives you an opportunity to earn rewards including cash backs and miles or points. In Sweden, credit cards are also seen as a way to increase one’s purchasing power.

To get a credit card in Sweden, you must have a Swedish bank account so I recommend getting one. However, the bank you choose will also dictate your credit card features so shop around. Similarly, most providers will only give you a card if you have a good credit history. You should ensure you pay your utility bills on time to build a good credit history and ensure you have a stable job with regular income.   

Choosing a Credit Card in Sweden

Most banks in Sweden offer their customers credit cards with varying features. You can check if your bank has credit cards and if you are eligible for one. Your bank will set a limit for every month on your credit card. 

You should also know that failing to pay your credit card bill in full at the end of the month will lead to interest. Most providers in Sweden charge very high interest rates on the full amount rather than the remaining amount. So, it’s always best to repay in full every month. Similarly, depending on your provider, you will be charged an annual maintenance fee. 

However, like in most European countries, VISA and MasterCard are the most popular cards in Sweden. Most business establishments accept these cards though Amex cards are also becoming popular. There is no need to get stuck with a card that will not be accepted in most places. So, I would recommend going for either of these cards. 

Bank Norwegian Visa 

The foremost advantage of choosing this card is that it is a VISA card so many businesses will accept it. You will also have access to many perks with the credit card since the provider rewards you for everything. When using a Visa or Mastercard credit card in Sweden, your best bet is to choose the most cost-effective one. 

With this card, you can meet this goal because it offers you up to 55 days interest-free credit on every purchase. It’s also the best card for you if you have an apple device since you can use it for apple pay. It also has a feature that allows you to invite friends and get 200 SEK/NOK in free travel and optional dental protection. However, you must be 23 years and above to get one. 

Komplett Bank Mastercard

This is a product of Komplett Bank and is fairly new to the market. If you are into cool and hype stuff, then this is the credit card for you. It has special features such as cash backs on all purchases. However, this is not the card for you if you are a frequent traveler. It has a fairly straight-forward bonus system. For instance, as soon as you attain 500 points you can get 500 SEK off your bill.

Furthermore, the card is fully free and offers travel insurance, purchase protection and ID protection. As a new customer you will have 50 days interest-free credit on each purchase you make. 

American Express AMEX Green or SAS Classic

If you are looking for a credit card that offers you bonus points for every use, then this is the right card for you. It also offers new customers 55 days interest-free credit on every purchase. Besides, it has a referral program that allows you to invite a friend and get your money back while also collecting points. However, you should know that most businesses do not accept American Express.