Credit Card SwedenJuly 8, 2020
As an expat in Sweden, one thing you need to know is that cash transactions are not common there. Just like having a functioning bank account will guarantee you easy handling of finances, a credit card and debit card too are very important.
When in Sweden, you will find it very common to make payments using credit card in most of the establishments and outlets. Commonly, you can apply for and be issued with a credit card which is linked to a checking account. You can then get a prepaid credit card which is not linked to a checking account. A prepaid credit card in Sweden allows you to spend the money that you have already located onto it. With a current bank account in Sweden, you are eligible to get a credit card.
You can choose your preferred credit card company and bank from a list of many operators in Sweden. Actually different banks and credit card companies operate in Sweden. It is necessary that you get a heads up so that you only sign-up for a credit card that fits your personal needs.
What you need to know about Getting Credit Card in Sweden
Getting a credit card in Sweden cannot be possible unless you first open a regular bank account. The requirements for opening such regular banks account thus apply. For instance, you need to have a Swedish personal identification number. The credit card and bank account then need to be linked. With a linked bank account to credit card, you save yourself the cost of having to pay bank fees every time you use your credit card.
In general having a credit card in Sweden allows you the benefits that a bank account does not have. For example,you will enjoy the low introductory rates or the ability to pay over time. The prepaid credit card is another special card which you will like to use. With the prepaid credit card, you can put money on it and use.
Credit card companies in Sweden
As already indicated, it is important to critically chose credit card provider which meets your individual needs. While there are many such dealers in Sweden, some of the most common and verified ones include, Marginalen Bank, Kortio, ICA Banken, Bank Norwegian, Nordea, Swedbank, N26 and Bank Norwegian SE.
However, you still need to carefully read the terms provided for each credit card issued to you. As you shall surely experience, these listed banks and credit card issuers in Sweden will offer quality, and excellent customer service in a very reliable way. Though it is not easily possible to point out which of the credit card providers in Sweden is the best choice for you, it is notable that N26 online bank is the most commonly used by expats. It offers clear contracts for non-Swedish speakers and is used by most expats.
Another reliable dealer in credit cards in Sweden is Norwegian bank. Despite having a base in Norway, the bank has exemplified itself as being a reliable one in Scandinavia. It provides loans, credit cards and savings accounts to consumers. You can be sure to trust the bank due to its large market base and reliability. It has been in operation since 2007.
As already stated, each bank has its own provisions for credit card which makes it important for you to evaluate the benefits of choosing one provider as opposed to the other. For example, if you intend to get a credit card issued to you by the Norwegian Bank then one requirement is that you should live in Sweden, have a work permit and be older than 23 years. A typical benefit of having a Norwegian Bank credit card is that you do not pay anything to have it. In essence, the credit card has up to 6 weeks interest-free credit and no cash withdrawal fee.
Important Credit Card Information for you
The most widley used credit cards in Sweden are Mastercard and Visa cards. This means that if you are a holder of cards such as American Express, you are likely to experience certain challenge to make transactions o payments in most in Sweden. It is there advisable that you get a local prepaid credit card. If you meet all the requirements for a local credit card, you can easily apply for a card online and it will be sent to your home address.