Stiftung Warentest warns
Bank Norwegian credit card: What consumers should know
Updated: September 20, 2023, 4:12 p.m
| Reading time: 7 minutes
The Bank Norwegian credit card comes with no annual fee. The card is not completely free – Stiftung Warentest warns.
Berlin.
- Bank Norwegian offers a Visa credit card without an annual basic fee, but Stiftung Warentest warns of hidden costs, especially when using the installment function
- The bank now offers a monthly compensation payment via direct debit to avoid high interest rates
- Despite Bank Norwegian’s tempting offers, consumers should compare the conditions of different banks to find the right product for them. We have collected the best alternatives for you
Whether as a means of payment for online shopping or abroad – a credit card is a frequently used means of payment for many consumers alongside the debit card. Sometimes a credit card is included with a checking account – direct banks in particular often issue credit cards as a standard card. The C24 Bank, for example, works with Mastercard and offers a credit card free of charge in all current account tariffs* at. Alternatively, a credit card can also be purchased separately. A well-known provider is Bank Norwegian.
Credit card from Bank Norwegian: Stiftung Warentest warns of fees for partial payments
The Norwegian bank is part of the NOBA Bank Group and offers a Visa credit card with no annual basic fee. As is often the case with many other banks, a current account does not have to be closed. Currently there is for them Credit card from Bank Norwegian even has a welcome bonus totaling 30 euros* per customer and card. The offer sounds tempting – but hidden costs become apparent in the details. Specifically, it’s about that Interest charges when making use of the partial payment.
Here Bank Norwegian requires an effective one Annual interest rate von 24.4 percent. The effective annual interest rate is, so to speak, the “price” for a loan and represents the total annual costs. The effective interest rate is a decisive factor when choosing a credit card – primarily if a customer makes use of the installment function. The higher the interest rate, the more expensive it is to use the installment function. According to Stiftung Warentest, the partial payment function at Bank Norwegian could not be deactivated for a long time.
You can find further tests on various products and trends on the Berliner Morgenpost topic page.
High interest rates at Bank Norwegian: Credit card not entirely free – two alternatives
To avoid falling into the interest trap, you had to pay off the amount on your credit card in a timely manner. However, Bank Norwegian now offers an alternative: monthly compensation payments via direct debit. This means that the negative amount on the credit card is offset in a timely manner using the SEPA mandate issued – there are no additional costs. Stiftung Warentest recommends in its article dated July 7, 2023 “test.de” Use this function to avoid expensive interest payments.
Alternatively, consumers can switch to credit cards with lower effective interest rates. As Alternative without an annual fee comes about Visa World Card credit card with an effective interest rate of 15.90 percent* in question. And also the Visa Card Gold from Consorsbank has a lower interest rate of 10.65 percent* on. Our comparison of the best premium credit cards in gold also shows: Credit cards with an annual fee usually come with lower effective interest rates. Conversely, free credit cards often have a higher effective interest rate.
Credit card with lower interest: Offers with an annual fee can be cheaper
Is the credit card only rarely used as a means of payment – for example on annual vacation? Then a free credit card such as that from Bank Norwegian can be sufficient as an “additional card”. Who instead? Credit card If you often use the partial payment function, you should also look into the premium credit card segment – the bottom line is that you can get cheaper in individual cases. The same goes for frequent travelers. According to Stiftung Warentest, the Bank Norwegian card only offers basic travel protection.
This basic travel protection only applies if part of the holiday trip is paid for with a credit card. The test experts at Stiftung Warentest cannot therefore unreservedly recommend the Bank Norwegian credit card. The testers’ recommendation: The conditions of each Banks compare and choose the right product for you. Our comparison of the best credit cards or the test “test.de” can be of help here. In addition to possible welcome bonuses, you should pay attention to crucial factors.
Alternatives to the Bank Norwegian credit card: What factors should you pay attention to?
In addition to the annual fee, this includes the services included and the effective annual interest rate. Sometimes there is already one in the checking account free Containing a credit card that is linked to the checking account. At the C24, for example, offers a free credit card with your checking account*. The big advantage here: There are no fees for partial payments, as the debits from the credit card are collected directly via the checking account. The only thing to pay attention to here is the overdraft interest rate, which varies from bank to bank.
Find out about Bank Norwegian: This is what users say
There are many negative reviews about Norwegian Bank on the Trustpilot review platform. With a total of over 390 reviews, most users’ verdict is: “poor”.
Positive:
- Fast delivery: Many users report that the credit card was delivered quickly.
- User-friendly app: The app is described as simple and understandable. Some appreciate the ability to choose their own PIN and customize payment settings.
- Good features: Users praise the ability to withdraw cash worldwide for free and the detailed listing of transactions. Some are also satisfied with the quick booking of transfers.
- Satisfaction: Some customers who have been using the card for a short time are satisfied with the bank’s services so far.
Negative:
- Multiple debits: Some users report problems with multiple debits and complicated refund processes.
- Communication problems: Many customers complain about a lack of accessibility, both by email and by telephone. Some report long waiting times on hotlines.
- Technical problems: Some customers have experienced technical issues with the credit card or app. There have also been concerns about the security of online banking data.
- Customer service: Many users are dissatisfied with customer service, especially in terms of problem resolution and response time.
*The article contains so-called affiliate links. The linked offers do not come from the publisher. If you click on an affiliate link and purchase via this link, Funke Digital GmbH receives a commission from the relevant online shop. The price does not change for you as a user and you do not incur any additional costs. The proceeds help us to offer you high-quality, entertaining journalism free of charge.
2023-09-20 21:24:57
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