Applying for a Sbanken credit card in Norway can offer several benefits, including a safer payment method and earning rewards on everyday purchases like groceries and travel.
However, the application process can be intimidating, especially if you’ve faced rejection in the past. To improve your chances of approval, it’s important to understand what Sbanken looks for when reviewing applications.
This guide will help you navigate the key steps before applying for a Sbanken credit card and position yourself for success.
About Sbanken
Sbanken is designed for individuals who want control over their banking. It offers competitive prices and efficient solutions. Your needs are the top priority, and Sbanken focuses on providing a simple, seamless banking experience.
Founded in April 2000 as Skandiabanken, it was one of the first banks to operate entirely online. It revolutionized the banking market by offering fee-free, digital-only services—no physical branches required. After 22 years of growth, Sbanken was acquired by DNB in 2022.
The two brands merged in May 2023, but Sbanken continues as part of DNB, keeping its focus on customer satisfaction as its top priority. This is how Sbanken operates in Norway today, staying committed to delivering value to its customers.
The Sbanken Credit Card is a Mastercard offering that has no annual fee, making it cost-effective for both domestic and international use. You can take advantage of up to 45 days of interest-free payment deferment.
The Sbanken Credit Card
The card comes with travel insurance and cancellation insurance, provided by Fremtind Forsikring, owned by DNB and Sparebank 1 Gruppen.
The card is free to use. You won’t pay any annual fee, and you can enjoy up to 45 days of interest-free payment deferral.
The Sbanken Credit Card supports mobile payments. It can be added to Samsung Pay, Google Pay, Fitbit Pay, and Garmin Pay for easy contactless transactions.
Insurance Benefits
The Sbanken Credit Card includes travel insurance, ensuring that you are covered while traveling. If you need to report any damage or seek assistance, you can reach out to the dedicated support line at 91 50 48 18.
You can easily access your insurance certificate for coverage details.
Read the Insurance Terms
To ensure you know exactly what’s covered, reviewing the insurance terms and conditions, which outline your rights and protections while using the card is a good idea.
How to Apply for a Sbanken Credit Card
To get a credit card for the first time in Norway, follow these steps:
Step 1: Check If You’re Qualified for a Sbanken Credit Card
To apply for a Sbanken Credit Card, you need to meet certain requirements. These criteria ensure you’re eligible for approval. Here’s what you need to know:
Eligibility Criteria for Sbanken Credit Card Application:
- Age: You must be between 21 and 70 years old.
- Citizenship: You must be a Norwegian citizen or a foreigner living in Norway for at least two years.
- Income: You need a gross annual income of at least NOK 120,000 to NOK 252,000 for basic credit cards.
- Contact Details: You should have an active phone number (both mobile and landline, if applicable).
- Tax ID: A valid Norwegian Tax Identification Number (TIN) is required.
- Employment: You must have at least one year of stable employment or a profitable business for at least one to two years.
Before applying, gather the necessary information to speed up the process and boost your chances of approval. Here’s what you’ll need:
- Full legal name
- Date of birth
- Current address
- Norwegian National ID (for verification)
- Annual income details
If you’re under 21, you may still qualify for a supplementary card through a family member. Keep these requirements in mind to make your application straightforward and hassle-free.
Step 2: Choose Your First Sbanken Credit Card
When selecting your first Sbanken credit card, consider key factors to ensure it fits your needs and budget. Here’s what you should look for:
Key Factors to Consider for Your First Sbanken Credit Card:
- Annual Fee: Some Sbanken credit cards may have no annual fee for the first year, which can save you money as a new cardholder.
- Interest Rate: This is charged when you carry a balance from one month to the next. If you tend to carry a balance, look for a card with a reasonable rate.
- Penalty Fees: Sbanken charges late payment fees if you don’t meet the minimum payment by the due date. Exceeding your credit limit might also result in automatic declines for transactions.
- Rewards Program: Sbanken may offer reward points for every purchase you make. These points can be redeemed for various benefits like rebates, gift cards, or travel rewards. Cards with lower fees may offer fewer rewards.
- Eligibility Requirements: Sbanken has specific requirements, such as age, income, and employment status. Ensure you meet these criteria to apply successfully.
For first-time applicants, a Sbanken credit card with low fees, a reasonable interest rate, and a simple rewards structure is a solid choice.
Step 3: Submit Your Sbanken Credit Card Application
Once you’ve chosen the right Sbanken credit card, it’s time to submit your application. Follow these steps to complete the process smoothly:
How to Apply for a Sbanken Credit Card:
- Visit Sbanken’s Website: Go to the official Sbanken website and find the credit card section. You’ll find detailed information on each card type, including benefits and terms.
- Fill Out the Application Form: Provide the necessary details such as your personal information, income, and employment status. Ensure all fields are accurately completed.
- Submit Required Documents: You’ll need to upload documents like proof of income, identification, and proof of address. Sbanken will provide a list of required documents during the application process.
- Wait for Approval: After submitting your application, Sbanken will review your details. The approval process may take a few days. If your application is approved, you’ll receive your card in the mail.
- Activate Your Card: Once you receive your card, follow the instructions to activate it. You can then start using your Sbanken credit card for purchases and benefits.
Keep track of your application status through Sbanken’s online portal. Once approved, you can enjoy the flexibility and rewards offered by your Sbanken credit card.
Sbanken Credit Card: Interest Rates and Fees
The Sbanken Credit Card offers simple and clear pricing for users in Norway.
- Annual fee: NOK 0
- Additional cards and replacement cards: NOK 0
- Transmission: NOK 0
- eInvoice: NOK 0
- Purchases in Norway and abroad: NOK 0
- ATM withdrawals in Norway and abroad: NOK 0
- Currency surcharge: 1.99%
- Overdraft costs: NOK 100
Interest Rates:
- Nominal interest rate: 17.93%
- Effective interest rate: 20.39%
Important Notes:
- Interest on credit card transfers is calculated from the withdrawal date.
- Interest on ATM withdrawals is calculated from the withdrawal date in Norway and abroad.
- ATM withdrawals abroad include a currency surcharge. Depending on the ATM owner, additional fees may apply. Check the price details at the ATM.
Example:
For a Sbanken Mastercard, if you borrow NOK 20,000 for 12 months at a nominal interest rate of 17.93%, the total cost will be NOK 21,995, including NOK 1,995 in interest.
Key Factors to Consider When Applying for a Sbanken Credit Card
When applying for a Sbanken Credit Card, there are several factors to keep in mind to ensure you choose the right one for your needs. Here’s a simple guide to help you make the decision:
Annual Fee
Some Sbanken cards may have an annual fee. Based on the rewards and benefits the card offers, consider whether this fee is worth it.
For example, a card that earns cashback or points might offset the cost of the fee if you use it often enough.
Interest Rate
If you plan on carrying a balance, the interest rate is important. A lower interest rate will help reduce your monthly payments.
Sbanken offers cards with competitive rates, so look for one that fits your financial habits.
Rewards Program
Sbanken offers cards that allow you to earn rewards, like cashback or points, for purchases. Choosing a rewards card could benefit you if you shop frequently at stores, gas stations, or restaurants.
Be sure to check for sign-up bonuses or specific categories that offer higher rewards and determine if the card’s benefits align with your spending patterns.
Contact Information
If you have any inquiries related to your Sbanken Credit Card, you can contact Sbanken through its official channels. Customer service is available Monday through Friday from 07:00 to 22:00 and on weekends from 10:00 to 18:00.
For support, visit the Sbanken website, where you’ll find the official contact number, email support, and details about your card. Sbanken’s official address is Dronning Eufemias gate 30, 0191 Oslo, Norway.
Additionally, you can review the full terms and conditions for the Sbanken Credit Card on their website. It’s best to refer to their online resources for the most accurate and up-to-date information.
Conclusion
Applying for a Sbanken credit card in Norway can provide a secure, rewarding payment option.
Understanding the application process and what Sbanken values in applicants can improve your chances of approval.
With its focus on customer satisfaction and competitive benefits, a Sbanken credit card offers an efficient solution for everyday purchases and travel.