Find the Best Credit Card 2024

Find and Apply for the Credit Card that Best Suits You

In simple terms, we can divide credit card users into two groups:

• Disciplined users
• Credit users

Disciplined credit card owners make sure to pay back everything they owe when their credit card bills are due. They typically choose cards that come with many benefits. They take advantage of perks while avoiding interest on their outstanding credit card balance.

Credit users, on the other hand, often spread out their credit card debt repayment over several months or years. Many times, they choose to pay only the minimum amount due on the credit card bill, which can lead to debt growth with the bank or credit company.

Here are some credit card features you should consider based on the type of user you are:

• Are you a disciplined user? Then you might want to choose a card with as many benefits as possible.
• Are you a credit user? Then a low interest rate on credit card debt is usually the most important criterion.

No matter which type of user you are, and what qualities you believe your credit card should have, we offer a service that can help. This service can assist you in finding the perfect card for your needs.

At the top of this page, you’ll find several filters. Here, you can check off important card features. Once you’re done, you’ll see a list of recommended credit cards based on the filters you’ve selected.

Which Card is Best in Test?

When we rank the best credit cards, we thoroughly examine each card. Here’s what we compare:

• Availability – How easy is it to obtain a card in terms of age limits and income requirements?
• Cost – What is the interest rate on debt with each card? What fees are involved?
• Benefits – What benefits are included with each card, and how valuable are they?
• User Feedback – We also consider what current cardholders think of the various cards.
• Expert Evaluations – Our financial experts assess each card as well.

These points come together in unbiased comparisons and reviews of each credit card available in Norway. This is what allows us to determine the best credit cards right now.

Credit Card Interest Rates

Interest can be applied to credit card debt. This interest is the cost of borrowing money with the card and is usually a percentage of the debt itself. Credit card debt typically has two types of interest rates: nominal and effective interest:

• Nominal Interest: the base interest, also known as the core interest rate.
• Effective Interest: nominal interest plus additional costs, such as fees.

Credit card issuers usually state the interest rate per year, but they typically calculate the interest amount you owe once per month. You can avoid paying interest on credit card debt if you take advantage of the interest-free period.

Interest-Free Periods

The credit you receive with a credit card usually comes with interest-free periods that follow one after another. If you repay everything you've borrowed during such a period before it ends, you don't have to pay any interest.

The length of the interest-free period varies. Many cards have 45 interest-free days, others offer 50 days of interest-free credit, and some cards give you 60 days without interest.

Our Best Tips for Smart Credit Card Use

• Always pay the full amount on your credit card bill – If you always repay everything you owe each time you receive a credit card bill, you won’t have to pay interest.
• Only spend what you can afford – Don’t buy more with a credit card than you can afford to repay on your next credit card bill. A good budget can help you manage this.
• Monitor your own credit card usage – Check online banking and apps to see how much you’ve spent with the card. Set up spending limits and alerts for when you reach them.
• Use your credit card for necessities, not for wants – Don’t increase spending just because the credit card allows it.
• Pay off the outstanding balance quickly – If you need to spread out your credit card debt repayment, do so in as short a time as possible to avoid paying high interest longer than necessary.
• Plan your card usage – Make sure to fully take advantage of benefits like discounts, cashback, bonuses, or free insurance.
• Regularly check your transactions – Make it a habit to review your card activity so you can detect any misuse. Contact your card issuer immediately if you notice any irregularities.

Who Can Apply for a Credit Card?

These are the requirements you must meet when applying for a credit card:

• You must be 18 years or older. Most cards in Norway have a minimum age requirement of 18. Some require you to be 20, 23, or even 25 years old.
• Must have ties to Norway. Most banks and credit companies require you to be a Norwegian citizen to receive a credit card.
• You must have an income. All Norwegian credit cards come with income requirements. These usually start at 50 000 or 100 000 kr per year before tax.
• No payment defaults. You cannot have one or more payment defaults when applying for a credit card.

Additionally, you must meet the government’s requirements under lending regulations. For example, you cannot have more than five times your gross annual income in debt. Remember, it’s the credit limit - not the outstanding balance - that determines how much of your debt a credit card represents.