Welcome to Sweden, a country known for its rich history, stunning landscapes, and high standard of living. As an expat in this beautiful country, you will likely be immersed in a vibrant culture and a well-structured financial system.
One of the first things you’ll notice is the widespread use of credit cards in Sweden for daily transactions. Whether you’re dining at a local restaurant, shopping at a trendy boutique, or even paying for public transport, a credit card is not just a convenience—it’s a necessity.
Sweden is one of the leading countries in the world regarding cashless transactions. In fact, it’s not uncommon to come across establishments that only accept cards. This makes having a credit card an essential part of living and working here.
But don’t worry; this guide is here to help you navigate the Swedish credit card landscape, making your transition to life in Sweden that much smoother.
Best Credit Cards in Sweden for Foreigners
As an expat in Sweden, you need a credit card that offers wide acceptance and competitive fees and caters to your unique needs and lifestyle. To help you make an informed decision, we’ve handpicked some of the best credit cards in Sweden that are particularly well-suited for foreigners.
Let’s take a closer look:
Credit Card from Bank Norwegian
Bank Norwegian’s credit card is favored by expats in Sweden for its flexibility and perks. It optimizes financial management with no yearly fee, 45-day interest-free credit, and a 150,000 SEK limit.
Whether you’re a frequent traveler or simply looking for a flexible credit card for your everyday expenses, the Bank Norwegian credit card is a great option to consider.
Rating
Max Credit
SEK 150.000
Interest-free credit
6 weeks
Annual Fee
$0
APR
21.93%
Min. age
23 years
The Bank Norwegian card offers numerous benefits for $0 annually: up to 6 weeks of interest-free credit, no global cash withdrawal fees, and CashPoints when linked to a Reward profile. It also includes travel insurance and cancellation protection.
- No payment remarks
- Over 23 years
- Has been registered in Sweden for the past 36 months
| Feature | Details |
|---|---|
| Current Annual Interest Rate | 21.93% |
| Credit Amount | 15,000 SEK |
| Repayment Period | 12 months |
| Total Repayment Amount | 16,673 SEK |
Representative example: The variable credit rate is 21.99% (Feb 2024). The annual fee is NOK 0. When using a credit of 10,000 and repayment through 12 payments of SEK 936 over 12 months, the effective interest rate is 24.35%. The total amount to pay back is SEK 11,233.
Resurs Gold Credit Card
The Resurs Gold Credit Card offers a unique blend of flexibility and security. With this card, you have the freedom to decide whether you want to pay for your purchases all at once or split the amount into installments, such as a 6-month interest-free installment plan. You can choose your payment plan the month after your purchase when you receive your invoice.
Rating
Max Credit
SEK 150.000
Interest-free credit
55 Days
Annual Fee
245 SEK
APR
3,85 – 24,65%
Min. age
20 years
One of the Resurs Gold Credit Card’s standout features is its complimentary travel insurance. This insurance covers you and your entire family when you pay at least 75% of your trip with the card. This gives you peace of mind during your journey, knowing you’re covered if something unpredictable happens.
The Resurs Gold Credit Card also offers a generous reward program. They offer 10,000 welcome points on your first purchase. Every krona you spend gives you 0.5 points, and your point balance grows every time you swipe your card, withdraw cash, or pay a bill. You can convert your accumulated points into design gadgets or experiences in their Point Shop.
In the modern, digital world, the Resurs Gold Credit Card keeps up by offering compatibility with both Apple Pay and Google Pay. This allows you to pay securely and contactlessly wherever you are.
- Be over 20 years old
- Have an annual income of more than 100,000 SEK
- Have no payment defaults
- Have a job
| Feature | Details |
|---|---|
| Current Annual Interest Rate | 0% for 6 months |
| Credit Amount | 15,000 SEK |
| Repayment Period | 6 months |
| Total Repayment Amount | 15,331 SEK |
Resurs Classic
The Resurs Classic Credit Card is designed for those who value simplicity and flexibility. Unlike other cards, the Classic card comes with no annual fee, making it an economical choice for those who want to avoid unnecessary costs.
Rating
Max Credit
SEK 15.000
Interest-free credit
6 Months
Annual Fee
245 SEK
APR
4.15 – 24.82%
Min. age
20 years
With the Classic card, you get up to 60 days of free credit every time you make a purchase. Once the invoice arrives, you can decide whether you want to pay off the entire amount at once or opt for installment payments.
One of the most attractive features of the Classic card is its 6-month interest-free installment plan. This allows you to spread out your payments over half a year without incurring any interest.
- Be over 20 years old
- Have an annual income of more than 100,000 SEK
- Have no payment defaults
- Have a job
| Feature | Details |
|---|---|
| Current Annual Interest Rate | 14.45% |
| Credit Amount | 10,000 SEK |
| Repayment Period | 6 months |
| Total Repayment Amount | 10,331 SEK |
Swedbank Credit Card
Swedbank’s Betal- och kreditkort Mastercard offers a range of benefits that make it a popular choice among expats in Sweden.
The card also offers the option of balance transfer, allowing you to quickly and easily transfer money to your bank account. However, a day-to-day interest is added for each balance transfer according to the card’s regular interest rate.
Whether you’re a frequent traveler or simply looking for a flexible credit card for your everyday expenses, Swedbank’s Betal- och kreditkort Mastercard is a great option to consider.
Rating
Max Credit
SEK 50.000
Interest-free credit
55 Days
Annual Fee
195 SEK
APR
11.18%
Min. age
20 years
- No annual fee for the first year (thereafter 195 SEK per year)
- Up to 55 days of interest-free credit
- Complementary travel insurance when more than half of the trip is paid with the card
- Purchase insurance with extended warranty for 1 year for certain white goods and home electronics
- All your card purchases are directly visible in the mobile bank
- Credit Card Limit from: 10,000-50,000 SEK
- Apple Pay and Samsung Pay
- Be over 20 years old
- Have an annual income of more than 125,000 SEK
- Have no payment defaults
| Feature | Details |
|---|---|
| Current Annual Interest Rate | 14.45% |
| Credit Amount | 20,000 SEK |
| Repayment Period | 12 months |
| Total Repayment Amount | 21,461 SEK |
Disclosure: We may receive a commission if you obtain a credit card through our link – at no additional cost to you.
Marginalen Gold Credit Card
Marginalen Gold Credit Card is another excellent option for foreigners in Sweden. It offers a range of benefits that make it stand out:
- Interest-free period of up to 50 days
- Option to pay in installments for individual purchases over 5,000 SEK
- Nine useful insurance policies for travel and shopping
- Apple Pay and Samsung Pay
- Split payments
The card offers a credit limit from 5,000 SEK up to 100,000 SEK. The annual fee is 195 SEK. The card also offers the option of two payment-free months each calendar year, provided you have had the card for at least six months and have made all payments on time.
The card comes with nine insurance policies, including travel cancellation protection, travel start protection, baggage delay, deductible protection, all-risk insurance for Swedish purchases, deductible elimination for car towing and assistance, and more.
The current annual interest rate is 16.9% (variable). If you choose to defer payment, the effective interest rate is 17.73%, and a credit of 20,000 SEK over 12 months would result in a total repayment amount to be calculated based on the interest rate.
Whether you’re a frequent traveler or simply looking for a flexible credit card for your everyday expenses, Marginalen Gold Credit Card is a great option to consider.
| Feature | Details |
|---|---|
| Credit Limit | 5,000 – 100,000 SEK |
| Annual Fee | 195 SEK |
| Administrative Fee | 0 SEK with e-invoice/direct debit, 25 SEK/month with paper invoice/account statement |
| Extra Card | 50 SEK/year |
| Cash Withdrawal Fee | 3%, minimum 35 SEK |
| Currency Exchange Fee (Purchases & Withdrawals) | 1.65% |
| Annual Interest Rate (If Credit is Utilized) | 16.9% (variable) |
| Effective Interest Rate | 17.73% with deferred payment and utilized credit of 20,000 SEK |
Most Widely Accepted Credit Cards in Sweden
When choosing a credit card, one of the most important factors to consider is its acceptance rate. After all, a credit card is only as good as the number of places it’s accepted in. In Sweden, you’ll be pleased to know that most retailers, restaurants, and service providers accept a wide range of credit cards, making it easy for you to go about your daily transactions.
Visa and Mastercard are the most widely accepted credit cards in Sweden, recognized by virtually all establishments. These cards offer a host of benefits, including worldwide acceptance, extensive customer protection, and a variety of reward programs. Whether you’re dining out, shopping online, or booking a trip, you can rely on these cards for seamless transactions.
American Express and Diners Club are also accepted in many places, although their acceptance is not as widespread. These cards often come with premium benefits such as travel insurance, access to airport lounges, and high reward points, making them a good choice for those who value these perks.
However, it’s essential to remember that the best credit card for you is not just about wide acceptance. It’s about finding a card that aligns with your lifestyle and financial goals. A card that offers cashback on groceries might be more beneficial to you than a card that offers travel rewards, even if the latter is more widely accepted.
Understanding Credit Card Fees in Sweden
Understanding the fee structure of your credit card is crucial to managing your finances effectively. In Sweden, as in many other countries, credit card companies may charge various fees that can add up over time. These can include annual fees, foreign transaction fees, cash advance fees, and late payment fees.
However, it’s not all daunting news. The Swedish financial market is regulated by strict laws designed to protect consumers. For instance, credit card companies must clearly disclose all fees to customers. This transparency allows you to compare different cards and choose one that offers the best value for your needs.
It’s also worth noting that many credit card companies in Sweden offer cards with no annual fees and competitive interest rates. Some even offer introductory periods with zero interest, giving you the flexibility to manage your expenses.
But remember, while it’s tempting to focus solely on the fees, it’s equally important to consider the benefits and features of the card. A card with a slightly higher fee might offer rewards or benefits that outweigh the cost.
Conclusion
Choosing the right credit card as an expat in Sweden is more than just a financial decision—it’s a step towards making your life in this beautiful country easier and more enjoyable. With the right credit card, you can navigate daily transactions with ease, manage your finances effectively, and even earn rewards along the way.
Keep in mind tthat the best credit card for you is one that aligns with your lifestyle and financial goals. It’s not just about the fees or the rewards—it’s about how well the card serves your needs. Whether you’re a student, a professional, or a retiree, there’s a credit card out there that’s just right for you.
So, go ahead, choose your credit card, and embrace the exciting opportunities that life in Sweden has to offer. And remember, we’re here to help you every step of the way. Happy financial journeying!
Additional Resources
As you continue to navigate your financial journey in Sweden, it’s always helpful to have access to resources that can provide further guidance and support. Here are a few additional resources that you might find useful:
- Swedish Financial Supervisory Authority (Finansinspektionen): This is the official regulatory body for the financial market in Sweden. Their website provides a wealth of information on financial regulations and consumer rights.
- Consumer Agency (Konsumentverket): This agency provides valuable information on consumer rights, including those related to credit cards and other financial products on their website.
- Expat Forums and Blogs: These can be a great source of first-hand information and advice from other expats living in Sweden. Try searching for forums or blogs specifically about living and working in Sweden, or check out the “Life in Sweden. Moving to Sweden.”-Facebook group.
FAQs
How do I get credit card in Sweden?
To get a credit card in Sweden, you need to apply through a bank or a credit card company. The process usually involves filling out an application form, either online or in-person, providing necessary documents, and undergoing a credit check. The requirements may vary depending on the provider.
Does Sweden use cash or credit card?
Sweden is one of the most cashless societies in the world. While cash is still accepted in some places, the majority of transactions are done using credit cards or mobile payment apps. It’s always a good idea to have a credit card or a digital payment method ready when you’re in Sweden.
Can I get a credit card in Sweden as a foreigner?
Yes, foreigners can get a credit card in Sweden. However, the requirements may be stricter. You typically need to have a Swedish personal identity number (personnummer), a Swedish address, and a stable income. Some banks may also require you to have lived in Sweden for a certain period. It’s best to check with the specific bank or credit card company for their requirements.
