Updated October 21, 2026 · SumCue Editorial Team
Cheers Financial vs Danske Bank DK
Cheers Financial
Danske Bank DK
Higher score in this comparison
What sets them apart
| Compare | Cheers FinancialReviewVisitVisit | Danske Bank DKReviewSee alternativesSee alternatives |
|---|---|---|
| Loan amount | $151.60 to $3,197.82 | from DKK 10,000 |
| Term | 24 monthsHigher | 3 to 12 months |
| Credit check | None | Hard |
| Eligibility | 18+, valid U.S. bank account and Social Security number | Must be 18 or older and have sound finances (stated for Kassekredit credit line) |
| Loan types | Secured | Personal, Credit line, Car, SecuredCovers more |
| APR | 12.15% to 15% | Not confirmed |
| Arrangement fee | 0 USD | Not confirmed |
| Representative example | Plan A: $175 total payments, $151.60 financed, $7/month, $23.40 total interest, 15% APR | Not confirmed |
| Free early repayment | Yes | Not confirmed |
| Origination fee (%) | 0% | Not confirmed |
| Credit needed | Fair | Not confirmed |
Same on both: Rate type (Fixed), Lender type (Direct lender).
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Key differences
- Danske Bank DK scores higher overall: 9.5 vs 9.2.
- Term is higher at Cheers Financial: 24 months vs 3 to 12 months.
- Support channels: only Cheers Financial offers Email, Community.
- Support channels: only Danske Bank DK offers Phone, Chat, Help centre.
- Loan types: only Danske Bank DK offers Personal, Credit line, Car.
Our verdict on each
Cheers Financial
Cheers Financial suits US adults with a valid US bank account and a Social Security number who want a small secured loan they can clear early without charge. The APR is 12.15% to 15% and there is no origination fee, so the total cost sits above the cheapest lender here.
Danske Bank DK
Danske Bank suits Danish households and students who want everyday banking, a card and a fixed-rate savings account at the same provider. The Mastercard Direct debit card carries a monthly fee of DKK 0, and savings terms run 3 to 12 months at a fixed rate.
Score breakdown
| Area | Cheers Financial | Danske Bank DK |
|---|---|---|
| Cost | 9.3HigherOrigination fee of 0 USD and a monthly fee of $0, with APR of 12.15% to 15% above 12.74% to 13.01%. | 9.2Middling on cost: the free ATM allowance is DKK 0 and the fixed-rate savings route asks for a DKK 10,000 minimum deposit. |
| Offer | 8.7Amounts of $151.60 to $3,197.82 over a term of 24 months on a fixed account suit small secured borrowing only. | 9.0Higher |
| Trust | 9.4A direct lender, direct lender, with a credit check of none and credit needed of fair. | 10.0Higher |
Side by side, item by item
| Loan types | Cheers Financial | Danske Bank DK |
|---|---|---|
| Personal | No | Yes |
| Credit line | No | Yes |
| Secured | Yes | Yes |
| Car | No | Yes |
Also worth a look
myKredit has term at 30 months, against 24 months for Cheers Financial and 3 to 12 months for Danske Bank DK.
myKredit reviewSources behind this comparison
Cheers Financial
- cheers.credit: 17 facts, checked September 30, 2026
Danske Bank DK
- danskebank.dk: 12 facts, checked September 26, 2026
- en.wikipedia.org: 1 fact, checked September 26, 2026
How they place
| Ranking | Cheers Financial | Danske Bank DK |
|---|---|---|
| Savings | 23 of 1492 | 90 of 1492 |
| Fixed-rate bonds and term deposits | 3 of 199 | 11 of 199 |
| Loans | 95 of 2043 | 189 of 2043 |
Every fact side by side
| Fact | Cheers Financial | Danske Bank DK |
|---|---|---|
| Pricing model | Fixed rate | Fixed rate |
| Features | Not confirmed | Travel |
| Legal entity | Cheers Financial Inc. | Danske Bank A/S |
| Headquarters | United States | Denmark |
| Founded | Not confirmed | 1871 |
| Support channels | Email, Community | Phone, Chat, Help centre |
Savings
| Fact | Cheers Financial | Danske Bank DK |
|---|---|---|
| Headline rate | 12.15% to 15% | Not confirmed |
| Minimum deposit | $151.60 | DKK 10,000 |
| Deposit protection | Not confirmed | EU DGS up to EUR 100,000 |
| Access terms | 24-month term, savings returned minus interest at the end; cancel anytime and get savings to date less interest | Danske Toprente: money is tied for 3, 6 or 12 months; early withdrawal costs a penalty of at least DKK 250; when the period ends the account is automatically changed to a Danske Indslaan-type account; minimum age 18 |
| Monthly fee | $0 | DKK 0 |
| Account kind | Fixed | Fixed |
Credit cards
| Fact | Cheers Financial | Danske Bank DK |
|---|---|---|
| Rewards type | Not confirmed | Cashback |
| Rewards rate | Not confirmed | Cashback at 2,000+ shops, merchant-set rates |
| Perks | Not confirmed | Up to 45 days interest free credit on min. 15,000 DKK (40 days from 20 Nov 2026), Two cards in one: credit and debit, Up to 6,000 DKK cash withdrawal per day abroad, 25% discount at Danske Bank Aviator Business Lounge, Option to buy travel insurance, Instalment payments over 2 12 instalments on purchases over 500 DKK, Mastercard Priceless benefits |
| Card kind | Not confirmed | Credit |
| Audience | Not confirmed | Student, Kids |
Mortgages
| Fact | Cheers Financial | Danske Bank DK |
|---|---|---|
| Fixed period | Not confirmed | 10 years |
| Maximum loan to value | Not confirmed | 95% |
| Purpose | Not confirmed | Purchase, Remortgage, Home equity |
Where each stands against the rest
| Fact | Cheers Financial | Danske Bank DK | Median |
|---|---|---|---|
| APR | 12.15% to 15%above the median | Not confirmed | 9.99 |
| Term | 24 monthsbelow the median | 3 to 12 monthslowest quarter | 60 months |
| Origination fee (%) | 0%at the median | Not confirmed | 0% |
Median across 1096 listed providers.
Pros and cons
Cheers Financial
Pros
- The origination fee is 0 USD, so there is no charge to set the plan up.
- Early repayment carries no charge, so clearing the balance sooner costs nothing extra.
- The credit check is none and the credit needed is fair, so a thin file does not decide the outcome on its own.
Cons
- Amounts stop at $151.60 to $3,197.82, a small sum for anything beyond a household bill.
- A single term of 24 months on a fixed account, so there is no shorter or longer schedule.
- Support runs on email and community only, so there is no phone line when a payment goes wrong.
Danske Bank DK
Pros
- The Mastercard Direct debit card charges a monthly fee of DKK 0 and ranks 1 of 422 brands on that measure.
- Balances carry EU DGS up to EUR 100,000 protection, and the legal entity Danske Bank A/S is supervised in Denmark by Finanstilsynet.
- The card range covers a debit card and a credit card, with cashback rewards at Cashback at 2,000+ shops, merchant-set rates.
Cons
- Free ATM withdrawals are DKK 0, and the brand sits at 44 of 124 brands on that measure.
- Savings are tied: terms run 3 to 12 months on a fixed rate basis, and early withdrawal costs a penalty.
- Consumer borrowing runs a hard credit check and starts at from DKK 10,000.
Who each suits
Cheers Financial
Who it suits
- US adults with a valid US bank account and a Social Security number who want a small secured loan at a fixed rate.
- Borrowers with a thin credit file: the credit check is none and the credit needed is fair.
- Households with savings to place behind the plan, since the money comes back less the interest at the end or on cancellation.
Who should look elsewhere
- Anyone outside the US: a minimum age, a valid US bank account and a Social Security number are required, so Ibancar Prestamos and Mi Prestamo are the listed routes to compare instead.
- Borrowers chasing the lowest APR here: 12.15% to 15% sits above 12.74% to 13.01%, and Ibancar Prestamos is priced lower.
- Anyone wanting an unsecured personal loan: the only loan type listed is secured, so a plan that needs no savings behind it is not in this offer.
Danske Bank DK
Who it suits
- Danish households keeping everyday money, a card and a savings term at the same bank.
- Students and younger customers, the stated audience of student and kids.
- Homebuyers, with mortgages at a 95% maximum loan to value fixed for 10 years at a time.
Who should look elsewhere
- Wise, for readers whose money sits in more than a single market and want a single account instead.
- bunq, for a euro account priced at a monthly fee of €0.
Country by country
| Country | Cheers Financial | Danske Bank DK |
|---|---|---|
| Denmark | No | Yes |
| United States | Yes | No |
Questions about each
Cheers Financial
What fees do I pay on top of the interest?+
The origination fee is 0 USD and the monthly fee is $0, so there is no recurring charge for keeping the plan running. The cost of borrowing shows up in the APR of 12.15% to 15% instead, and the representative example shows that interest collected across the monthly payments.
How does the APR compare with the other lenders here?+
Cheers Financial runs at 12.15% to 15%. Ibancar Prestamos is priced at 12.74% to 13.01%, AXI Card Tarjeta y Credito at 21.59% and Mi Prestamo at 23%, so Ibancar Prestamos is the cheaper named option for a reader shopping on cost.
Danske Bank DK
What does the card cost to run?+
The Mastercard Direct debit card has a monthly fee of DKK 0, and Danske Bank places 1 of 422 brands on that measure. It is a debit card on the mastercard network, so spending draws straight from the current account.
How is the money in the account protected?+
Balances are covered by EU DGS up to EUR 100,000, the EU deposit guarantee scheme, and the account is held by Danske Bank A/S, supervised in Denmark by Finanstilsynet. The scheme covers money left on deposit rather than balances spent on the card.
Other options to compare
Other matchups
Cheers Financial
Danske Bank DK