Best Credit Cards in Norway

Credit cards are needed wherever you might find yourself. This rule doesn’t differ in Norway. In fact, cash transactions aren’t that common in Norway. With a credit and debit card, you can access services and goods from major establishments, hotels, and restaurants. In addition to supermarkets, gas stations – everywhere!

Few terms associated with credit cards

Maks kreditt is the maximum allowable credit limit from that issuer, although, in practice, your credit limit will be based on your income.

A credit limit of around 10-15% of your annual salary is typical,

so if you earn 400,000kr, you can expect to be offered a credit limit of 40,000kr, possibly slightly higher.

Årsavgift is the annual fee payable.

There is also a statuary statement of the cost of borrowing a set amount of money over 12 months.

How to apply for a credit card

Before you can get a credit card in Norway, you must be at least 18 years old, have a local account with a bank, and proof of full-time employment.

If you’re a foreigner, you must have stayed there for over a year and have spoof of full-time employment.

Being issued with a credit card is almost the same as taking a loan.

Therefore, the credit card issuing financial institutions in Norway perform due diligence before they offer you the credit facility.

The credit cards issued to you by the financial institutions in Norway will typically allow you to borrow funds to use in various transactions.

It is your obligation as a credit card holder to ensure that you at all times, honor the conditions given at the time of signing up for the card.

In practice, you will be required to pay back the money borrowed, the surcharge when using the card where applicable, and any other interests on the amount.

Also, factors like your credit rating, which is gotten from a record of all the financial transactions you have made in your time in Norway, are essential when applying for a credit card.

Various institutions issue credit cards in Norway. Examples include:

1. Bank Norwegian

They have been operating in the country for over a decade, and they have one of the best credit card plans for you.

Here are a few of the perks you get when you choose Bank Norwegian:

● The credit card is without an annual fee; all purchases are free of charge.

● 1% earnings on purchases of goods up to 100,000 per calendar year – you save for your next holiday trip all year round!

● 0.5% earnings on use over 100,000.

● Up to 45 days interest-free.

● Up to NOK 100,000 in credit.

● Includes travel and cancellation insurance.

2. Complete Bank

This is a loan agency that also offers credit cards.

Once you have an account with them and request a credit card, here are a few perks you enjoy:

● 100% free of charge and no annual fee.

● Pay contactless with cards, Apple Pay, and Google Pay.

● Up to 50 days interest-free credit on full repayment.

● Earn a bonus on all your purchases and a 4% bonus on purchases at Komplett.no.

Getting a credit card is easy, but getting a good credit card might not be that easy.

Consult with your bank officials to get more advice on the best choice.