Bonus : Credit Cards
Credit Cards can offer a range of rewards to customers such as airlines miles, cashback on purchases (small percentage of the amount is returned to you like for instance 0,5%) or insurances. Using Credit Cards for daily expenses can be a part of your daily expenses saving strategies in some countries. A very attractive offer, so why does not everyone use them?
History
The most common cards in Denmark are those called "Debit Card" or "Dankort", where the money is directly debited from your bank account. Credit Cards, on the other hand is borrowed money until the due date, which usually is the end of the month. This can become dangerous if you live paycheck to paycheck or have a record of beeing in debt, since you won't notice your daily expenses directly your bank account and might be in for a suprise at the end of the month that now you owe thousands of DKK. Moroever, you are basically taking out a "quickloan" if you fail to pay the credit card provider, since interest rates can be a staggering 20% per year. Hence, only use Credit Cards with clear concience and remeber to incalculate your debt when you're looking at your bank account.
Meanwhile, Credit Card providers also make a lot of money in some countries like the USA. Here, they can charge the shop a staggering 2% (not you) for each transaction, called interchange fee. That's why they are happy to give you all these rewards to make you spend more. In Europe, this is capped at 0,2% by the 2016 Regulation on interchange fees to prevent shops offloading additional fees on you to cover credit card interchange fees. Due to this fact, high rewards as you might have heard of in the USA or other countries do not really exist in Europe, especially in Denmark since we on top of that have the Dankort.
Dankort is Denmark's own payment card without any incetivising practices such as insurance and rewards, with transaction fees lower than 0,2%. "Forbrugerrådet Tænk", an independent consumer organization that works to promote consumer rights, actively fights for the preservation of Dankort, something Financial Institutions have less of an interest in since they are not making a lot of money on them.
All of this makes Denmark an uninteresting market, with minimal competition for Credit Cards with reward programs. Just ask any danish person, most of them have only a Debit Card or Dankort and don't even know about Credit Cards with rewards.
Credit Cards in Denmark
That said, there are however some few Credit Cards with rewards like airlines miles, cashback on purchases or insurances in Denmark.
Many danish banks offer premium credit cards, mainly a Mastercard Gold (Danske Bank, Nykredit, Nordea, ...), with a yearly price of up to 800 DKK depending on your customer status, that only gives you a travel insurance. Most also have a Platinum Mastercard, costing 1.500 DKK/year with better travel insurance coverage and airport lounge access.
However, there are also completely free alternatives, that offer similar services. We'll mention them soon in the comparison below.
Airline Rewards Cards
You can earn flight rewards from everyday spending in Denmark in two direct airline programs—Norwegian and SAS—plus Revolut, which lets you convert points to partner airlines.
Options at a glance
- Bank Norwegian Credit Card (Free)
- SAS EuroBonus Credit Cards:
- Lunar EuroBonus Credit Card (39 DKK/month)
- SAS EuroBonus Mastercards:
- Basic: 35 DKK/month
- Premium: 195 DKK/month
- Revolut: Earn "RevPoints" which can be exchanged to Airlines Miles with KLM, British Airways and Air France. From Premium (75 DKK/month), you earn 1 RevPoint per 30 DKK spent.
The SAS EuroBonus Mastercards earns a bit more, but they have monthly fees and no insurances like you get with the Bank Norwegian Credit Card. Consider SAS EuroBonus cards only if you’re focused on SAS.
Revolut makes only sense if you want Premium for other features, as its airline reward value is lowest.
If you don’t fly with SAS often, the Bank Norwegian Card is the better choice. For every 133 DKK you spend, you get 1 Norwegian Cashpoint, worth 0.63 DKK.
You’d be missing out if you didn’t take advantage of the free Bank Norwegian Credit Card to earn free travel rewards and insurance perks.
Foreign Exchange Fees When Traveling
A key drawback of using Danish Credit Cards abroad is the foreign exchange fee, which is charged when making purchases in non-DKK currencies. Most Danish bank-issued Credit Cards apply:
- 0.5% fee for transactions in European currencies
- 1.5% fee for transactions in non-European currencies
Bank Norwegian Credit Card charges a whopping 1.99% fee on all foreign transactions, even within Europe, making it less attractive for international purchases despite its other benefits. SAS EuroBonus Mastercards charge 2% on all foreign transactions.
Cards with better foreign exchange fees
If you often travel or shop internationally, consider these more cost-effective options:
- Lunar offers 0% exchange fees abroad, but only for card payments—not for international bank transfers. This benefit is available through their Plus (69 DKK/month) or Unlimited (139 DKK/month) subscriptions.
- Wise.com: A low-cost online bank founded in Estonia and licensed in the EU through Belgium. It specializes in international money transfers and currency conversion. Wise offers very low and transparent exchange fees, such as around 0.42% when buying something in Japan with a Wise card. You can view current pricing on Wise’s fee calculator. Wise does not offer travel insurance, cashback, or any traditional banking services such as loans or investments.
- Revolut, an alternative to Lunar with traditional banking products, offers also 0% exchange fees on foreign card payments starting from their Premium plan, which costs 75 DKK/month. Revolut also provides free travel insurance starting from Premium Plan. Revolut is registered in Lithuania.
Comparing Credit Cards
Considering all of the above options, let's compare them.
We're using Nordea Mastercard Gold for comparison, but it should be noted that the offering may vary from Bank to Bank. For instance, Nordea Mastercard Gold insures you worldwide, whereas Danske Bank Mastercard Gold only covers Europe. It's advisable to check your banks insurance policies. SAS EuroBonus Mastercards have been excluded since they don't provide travel insurances.
| Bank Norwegian | Lunar | Mastercard Gold (Nordea) | Circle K EXTRA Mastercard | Wise.com | Revolut | |
|---|---|---|---|---|---|---|
| Description | In partnership with Norwegian Airlines, Bank Norwegian provides Credit Cards, saving accounts and loans only. Bank Norwegian is a supplementary bank as it lacks normal bank accounts like NemKonto. | A 100% digital bank, providing most services as traditional banks and more, except large amount loans. Lunar doesn't actually offer any Credit Cards, but only Debit Cards with similar rewards to Credit Cards. | Many traditional Banks offer the Mastercard Gold Credit Card, which is a premium Credit Card beside free offers of Visa Debit or Dankorts. | EXTRA is Circle K's reward program, with cashback and savings on fuel. The optional Mastercard gets you additional perks such as insurances. | A 100% digital bank focused solely on providing low-cost foreign exchange and international money transfers. It does not offer travel insurance, rewards, or traditional banking services like loans or investments. | A 100% digital bank, providing most services as traditional banks and more, except large amount loans. |
| Price | Free | All below listed conditions are only available for Plus (69 DKK/month) or Unlimited subscriptions (139 DKK/month) | Up to 800 DKK/year depending on your customer status and bank. | Free (both EXTRA reward program and Mastercard) | Free | All below listed conditions are only available for Premium (75 DKK/month) subscriptions or higher |
| Cashback | • 0,5% on normal purchases Can only choose one: Cashback or Airline Miles Rewards) | ❌ | ❌ | • 0,13 - 0,30 DKK per liter fuel when tanking at a Circle K gas station • 0,5% on normal purchases (excluding tobacco, games, value cards, over-the-counter medicine, cash withdrawals and purchases at other petrol companies in Denmark) | ❌ | (See below) |
| Airline Miles Rewards | • 0,5% on normal purchases • up to 20% on Norwegian Airlines purchases Can only chose one: Cashback or Airline Miles Rewards | Only with their "SAS Eurobonus Card" costing an additional 39 DKK/month | ❌ | ❌ | ❌ | 1 "RevPoint" per 30 DKK spent, which can be redeemed for Flights and Hotel stays. 1000 "RevPoint" is approximately 1€ with British Airways |
| Airport lounge access | ❌ | ❌ | ❌ (only with Mastercard Platinum) | ❌ | ❌ | • Discounted access • Free for Ultimate Subscription costing 450 DKK/ month |
| Travel Insurance | ✔️ (Provided by Tryg) | ✔️ (Provided by Tryg) | ✔️ (Provided by Tryg) | ❌ | ❌ | ✔️ (Provided by XCover.com) |
| - Terms of service | At least 50% of the journey's transport costs have been paid with your Bank Norwegian credit card. If you are traveling in your own car, at least 50% of the travel expenses (fuel, ferry, accommodation, etc.) must be paid with the card | 60% of Hotel and Flight/Train, or 60% of the total transport and travel expenses (fuel, ferry, accommodation, etc.) when traveling in your own car must be purchased with a Lunar payment card. | Flights and package tours must be paid for with your Nordea Gold Master card to be covered by the insurance. For other journeys, it is not a requirement that the journey must be paid for with the card. | ❌ | ❌ | Flights and accommodation must be paid for with your Revolut credit card. |
| - Covers | • International trips, but not in the country of residence (e.g. if you live in Norway, it does not cover in Norway) • Business trip partially covered • Professional sports played against payment are only partially covered. Cover is transport to and from the travel destination as well as during the stay as a private person. | • International trips, but not on holidays in Denmark. | • International trips, also in Denmark if the journey has a minimum of 3 nights. • Business trips partially covered • Professional sports played against payment are only partially covered. Cover is transport to and from the travel destination as well as during the stay as a private person. | ❌ | ❌ | • Minimum 100km away from your home address |
| - Covers NOT | • Expedition trips in e.g. polar regions, the ice sheet on Greenland and the northernmost part of Canada | • Business travel. Days off between days of commercial work are considered business and are probably not covered. • Expedition trips in e.g. polar regions, the ice sheet on Greenland and the northernmost part of Canada • Professional sports played for a fee | • Expedition trips in e.g. polar regions, the ice sheet on Greenland and the northernmost part of Canada | ❌ | ❌ | • Business travel. |
| - Excess per reported damage (DK: Selvrisiko per skade) | 1500 DKK (Flight delays, Lost baggages, Emergency Dental treatments, Permanent injury compensations and Accident, Injury or Death compensations are excluded) | 500 DKK | 300 DKK - 2.500 DKK depending on the damage type | ❌ | ❌ | 10% up to max 350 DKK |
| - Maximum covered travel duration | 45 days | 30 days | 90 days | ❌ | ❌ | 30 days |
| - Hospital stay and treatment | ✔️ | ✔️ | ✔️ | ❌ | ❌ | ✔️ |
| - Home transport as a result of an acute illness or injury | ✔️ | ✔️ | ✔️ | ❌ | ❌ | ✔️ |
| - Permanent injury compensation (DK: rejseulykke) | Up to 500.000 DKK/person | Up to 300.000 DKK | ❌ | ❌ | ❌ | ✔️ |
| - Accident, Injury or Death compensation | Up to 400.000 DKK/person | Up to 200.000 DKK/person | ❌ | ❌ | ❌ | ✔️ |
| - Lost Luggage | 2.000 DKK/day (max 2 days) | 1.000 DKK/day (max 3 days) | 6.000 DKK per person or 12.000 DKK in total | ❌ | ❌ | 3000 DKK |
| - Personal belongings (Theft, damaged baggage,...) | Max 20.000 DKK per person or 45.000 DKK per damage | Max 10.000 DKK for everything | Covers a lot with high values, but not damaged baggages. | ❌ | ❌ | Max 7.500 DKK |
| - Liability insurance | If you incur damage to furniture or building part in a rented hotel room or holiday home. | ? | ? | ❌ | ❌ | ? |
| - Who is insured | Card holder + Spouse/cohabitant/registered partner and children + up to 3 fellow travelers who must first be indicated in the event of damage. | Card holder + Spouse/cohabitant/registered partner and children, not other fellow travelers. | Card holder + Spouse/cohabitant/registered partner and children, not other fellow travelers. | ❌ | ❌ | Card holder + fellow travelers |
| - Flight delay (Excludes cancelled flights which usually are compensated by the airlines) | After 4 hours, covers expenses up to 1.000 DKK per person or 2.000 DKK in total. | ❌ | After 4 hours, covers expenses up to DKK 6.000 in total. | ❌ | ❌ | After 8 hours, covers expenses up to 750 DKK per person or 2.600 DKK in total. |
| - Flight cancellation (You cancelled the flight, not the airline) | In case of illness or death of a family member, up to 25.000 DKK in total, but with an excess (DK: selvrisiko) of 500 DKK. | In case of illness or death of a family member, up to 10.000 DKK in total (only for Unlimited customers). | In case of illness or death of a family member, up to 15.000 DKK in total. | ❌ | ❌ | In case of illness or death of a family member, up to 26.000 DKK in total, but with an excess |
| - Covers Ski Holiday | ✔️ | ✔️ | ✔️ | ❌ | ❌ | ✔️ |
| - Emergency Dental treatment | Up to DKK 6.000 DKK (does not cover specialist dental treatment, crowns, root canals and the like.) | Up to DKK 8.000 DKK with a 500 DKK excess (DK: selvrisiko) (does not cover specialist dental treatment, crowns, root canals and the like.) | Up to 10.000 DKK in total. | ❌ | ❌ | Up to 2.230 DKK in total |
| Car rental excess insurance (Some car rentals can charge thousands of excess (DK: selvrisiko) in case of a damage) | Must be additionally purchased for 349 DKK/year. Then, up to 20.000 DKK per damage. Rental must be paid with Bank Norwegians Credit Card. Covers any global rental for periods up to 31 days. | ❌ | Up to 10.000 DKK per damage. Rental must be paid with the Mastercard Gold Credit Card, and only covers rentals during travel. | Up to 20.000 DKK per damage or 40.000 per year. Rental must be paid with Circle K Mastercard. Covers rental periods up to 21 days and only covers rental outside of Denmark. | ❌ | ❌ |
| Mis-fueling insurance (Filling a car with the wrong fuel) | ❌ | ❌ | ❌ | Up to 5.000 DKK when the mis-fueling happened at a Circle K gas station in DK, SE and NO and was purchased with the Circle K Mastercard | ❌ | ❌ |
| Foreign exchange fee | 1,99% | 0% (Free for Plus and Unlimited - only applies to Credit Cards usage abroad and not bank transfers) | 0,5% for European Currencies 1,5% for all others | 2% + any Mastercard surcharges | Not free, but cheaper than any danish banks or Bank Norwegian. E.g. 0,42% for DKK -> JPY. | 0% (Only applies to Credit Cards usage abroad and not bank transfers) |
| Interest rate for late payments | 22%/year | 0% (Since it's actually a Debit Card and the amount is directly charged from your Lunar Bank account) | 15%/year | 23%/year | 0% since the amount is directly charged from your Wise.com account | 18%/year |
How to Maximize Airline Rewards Cards
- Put everyday spending on your rewards card
Use a card like the Bank Norwegian Credit Card for groceries, fuel, and other routine purchases to earn points or cashback on money you’re spending anyway. - Book travel with your rewards card
Pay for flights with the Bank Norwegian Credit Card—even when you’re not flying Norwegian—to get free global travel insurance, a perk that could otherwise cost thousands depending on destination and trip length. - Double-dip with SAS EuroBonus partners
SAS partners with more than 450 restaurants and stores across Scandinavia. Link your Bank Norwegian Credit Card to your SAS account here. After linking, whenever you pay at a partner, you earn twice—points from your Bank Norwegian card and SAS EuroBonus points. Example: Buy dinner at a listed partner and pay with your linked Bank Norwegian card—you’ll receive both Norwegian Airline points and SAS EuroBonus points on the same transaction.
Final Recommendation
For the best combination of savings and rewards, get the Bank Norwegian Credit Card. It’s free, offers travel insurance, and earns you airline miles or cashback. Start using it for daily expenses and even investments to maximize your rewards.
When paying in currencies other than DKK, like when traveling abroad, use the Wise.com Credit Card to make use of low foreign exchange fees.
With smart use, you could save or earn thousands of DKK per year!