Everything about credit cards
Short, concrete answers to what people actually search about credit cards in Norway.
Each answer is written to give you the essentials first, with the actual rates, fees and requirements from the cards we compare. Pick a question for the full explanation.
What is a credit card?
A credit card gives you a credit limit you can spend and repay later. If you settle the full balance within the interest-free period, you pay no interest. Among the cards we compare, the effective rate ranges from 21.66% (Instabank) to 29.89% (re:member), and the interest-free period from 0 to 50 days. You apply with BankID, and the credit limit is set after a credit assessment.
Read the answerHow does a credit card work?
When you pay by credit card you borrow from the issuer and collect your purchases on one monthly invoice. Pay the full amount by the due date and purchases are interest free for up to 50 days (Morrow Bank). Pay only the minimum and the effective rate, from 21.66% upwards, applies to the rest. Cash withdrawals and spending abroad may carry their own fees.
Read the answerWhat is the effective interest rate on a credit card?
The effective interest rate is the total annual cost of using credit, including the nominal rate and all fees such as set-up, instalment and invoice fees. It is the figure to compare cards by. Among the cards we compare, the effective rate is between 21.66% (Instabank) and 29.89% (re:member). Settle the full balance on time and you pay no interest.
Read the answerWho can get a credit card, and why are some rejected?
To get a credit card in Norway you normally need to be over 20, have a stable income, a Norwegian address and no active payment defaults. The issuer runs a credit assessment and checks the debt register (Gjeldsregisteret). Rejections are most often due to low income, existing debt, a payment default or short residency. Requirements vary slightly between cards.
Read the answerHow do I pay my credit card bill?
You pay your credit card by paying the issuer’s invoice, either the full balance or at least the minimum amount by the due date. Pay it all and you avoid interest. Most people set up eInvoice or direct debit in their online bank so payment happens automatically. Pay only the minimum and the effective rate, from 21.66% upwards, applies to the rest.
Read the answerCan you withdraw cash with a credit card?
Yes, you can withdraw cash with a credit card at an ATM, but it is usually expensive. Most cards charge a withdrawal fee of 1-3%, and interest accrues from the day of withdrawal even if you otherwise have an interest-free period on purchases. Among the cards we compare, Bank Norwegian and TF Bank have fee-free withdrawals.
Read the answerHow many credit cards can you have?
There is no formal limit to how many credit cards you can have in Norway. In practice the credit assessment limits it: all available credit is recorded in Gjeldsregisteret, and a high total credit limit can make it harder to get new cards, loans or a mortgage. For most people one or two cards covering their needs is enough.
Read the answerHow long does it take to get a credit card?
If you apply with BankID, many issuers give a preliminary answer within minutes. Final approval and the physical card by post normally takes from a few days to two weeks. You can often add the card straight to Apple Pay or Google Pay and start using it before the plastic card arrives.
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