Anyone with bad credit in need of a new credit card knows how difficult getting one can be. While many people consider credit cards as just a tool to pay for various purchases, it’s actually a way to pay short-term loans that are covered by credit limits. A negative financial history can leave people at risk and make it more difficult for them to take out loans. Despite that, you can still apply for certain credit cards and start to rebuild your credit score. Below, we’ll present some of the most popular credit cards in Sweden for bad credit holders and let you decide which one is the best for you.
Holders of the Marginalenbank Visa card can get two free months of service with this bank and account, along with a 25% discount for services and products bought online. Moreover, customers don’t have to pay the first annual fee, and if within 30 days you make five purchases, you can get 200 SEK back. On top of that, there are nine different insurance policies included with the card.
While this card has a high withdrawal fee, (3%) it also offers a flexible margin and the option to pay different bills and transfer money over to other accounts. With a 20,000 SEK credit, your interest rate over a period of 12 months will be 16.90% and the effective interest rate will come out to 17.73%. Lastly, you need to have no less than 10,000 SEK per month income, be 20 years or older, and regularly employed. (1)
This credit card from Re:member flex offers as much as 8 weeks of no interest and discounts to over 300 online stores through their Member Award program. There’s no annual fee, and travel insurance is included, so you can pay safely for purchases on the internet and while traveling. You can also split payments up with an individual rate of interest ranging between 9.74% and 24.74%. (2) Overall, the Re: member flex card is simple to use and fairly flexible. To be eligible for this card, you need to have a minimum monthly salary of SEK 8,333, be regularly employed, and 20 years or older.
Bank Norwegian Visa Credit Card
Those looking for a credit card to improve their credit score but also don’t want to pay commission or annual fees for withdrawals, should look into the Visa card from Bank Norwegian. There is a bonus (CashPoints) for every purchase with this card and it’s the quickest way to earn CashPoints in the Norwegian performance program, but they can only be spent in the Norwegian travel shop. Besides CashPoints, there’s a 4% discount on Norwegian airline Low fare tickets and a 0.5% cash register bonus with all other purchases, up to 100,000 per year. (3) Sadly, you cannot link a second card to this account. As far as requirements go, Ban Norwegian doesn’t have any special conditions except that you’re at least 23, employed, and a resident of Sweden.
Komplett Bank MasterCard
With a focus on e-commerce, the Komplett Bank credit card provides customers with anywhere from a 1% to 4% bonus for all purchases. For payments to Komplett.se, there is a 4% bonus, a 2% bonus is for all internet payments, and a 1% bonus for everything else. Keep in mind that there are no bonuses for cash transfers to third-party payment methods such as Western Union and Swish. If you’re not familiar with Komplett.se, it’s a store that sells a wide variety of products ranging from appliances and computers to sports equipment.
Supreme Card Gold
If you like to shop, but not too much, you might find the Supreme Card Gold the perfect choice. This credit card gives you points for every penny traded and offers a choice of hundreds of interesting services and products from the Supreme point shop. Invoices are sent to your address each month for the previous one and then you can decide whether you want to split the payments or pay them directly. However, interest -free installments of up to 6 months can be canceled at any time if you want to pay off all outstanding debt right away. Finally, the Supreme Card Gold can be connected to a MasterCard and will work anywhere abroad.
If none of these credit cards are right for you, don’t hesitate to search online for a better offer because there are many more cards available. But remember that using one such card is the best way to rebuild your credit score.