The vast majority of us who own an international credit card will never pay a penny in interest costs on their credit card. This is because all the cards have an interest-free payment delay of up to 50 days and it can be worth gold. However, if you go beyond the interest-free period, your credit card can be a costly pleasure.
The effective interest rate quickly becomes very high
On the other hand, if you do not have enough money in your account or do not want to completely empty your reserves, you can still use your credit card. If you choose to repay over a few months, it will cost you extra in interest expenses and fees. This can still be cheaper than taking out a consumer loan in your bank.
If you suddenly find one day the dream kitchen, which you have been looking for, reduced from NOK 40,000 to 30,000, you can use, for example, your DnB Mastercard. If you pay down over 6 months, it will cost you NOK 800 (interest expenses + annual fee). With this purchase you have thus saved a lot of money.
This is what is good economics thinking!
Accepted Visa / Mastercard. This card was launched in 1998 and it is Gjensidige Nor who is behind it. The card gives you a credit limit of up to NOK 50,000 and does not have an annual or entry fee. The cooperation with Visa and Mastercard ensures that you can use the card in many places around the world.
Visa Gold / Premier. This is not a regular Visa card, but a credit card. Visa has good coverage worldwide. This applies both as a means of payment and for cash withdrawals. The credit card is affiliated with the Visa network, but is issued by the banks. Included in the purchase:
DnB Mastercard. This credit card is the result of cooperation between DnB and Mastercard. However, the card issuer charges you a billing fee of NOK 20 each time you use the card.
The card has about as many user sites as Eurocard. It is linked to an automatic repayment scheme with a credit limit of up to NOK 50,000. You decide your down payment time, but the minimum payment each month is NOK 400.
Included in the purchase: Eurocard Gold. Many more user sites than American Express and its competitors. Diners, through the same system as Mastercard.