Your cookie choices

We use necessary cookies to make this site work. With your permission, analytics cookies help us understand usage and marketing cookies support advertising.

You can reject non-essential cookies and still use the site. Change your choices anytime in Cookie settings.

Cookie settingsCookie policy

Swedbank Mastercard review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.

Our verdict

Swedbank Mastercard suits customers of the same bank who want a credit card and an easy access savings account together. It costs SEK 195 a year and 13.55% on balances, and what the fee buys is travel and purchase insurance, interest free credit and a balance transfer rather than rewards.

Key facts

Best for
Swedbank customers who want card and savings from the same bank without paying for rewards.
Annual fee
SEK 195↗
APR
13.55%↗
Currency conversion fee
1.65%↗
Rewards type
None↗
Perks
Travel insurance with cancellation cover, delayed departure and delayed baggage cover, Purchase insurance: all-risk, price guarantee and extended warranty, no deductible, Up to 55 days interest-free credit on purchases, Free extra card (0 kr per year), Rental car excess reduction up to SEK 30,000, Optional payment protection (betalningsskydd) at extra cost, Balance transfer (saldooverforing) to an account↗
Card kind
Credit↗
Legal entity
Swedbank AB (publ)↗
Headquarters
Sweden↗
Founded
1820↗
Support channels
Phone, Help-centre↗
Pricing model
No monthly fee
Official website
swedbank.se

Savings

Headline rate
0.5%↗
Rate type
Variable↗
Minimum deposit
SEK 0↗
Access terms
Free withdrawals with a three calendar day delay; transfers only to the customer's own Swedbank accounts; no payment services can be linked↗
Monthly fee
SEK 0↗
Account kind
Easy access↗

Mortgages

Initial rate
3.89%↗
APRC
3.96%↗
Fixed period
0.25 years↗
Maximum loan to value
90%↗
Product fee
SEK 650↗
Purpose
Purchase, Remortgage, First-time-buyer↗

Facts checked September 26, 2026, 9 sources

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
LinkedIn

Pros and cons

Pros

  • The savings side charges a monthly fee of SEK 0 on a minimum deposit of SEK 0, and the account is easy access.
  • A balance transfer and interest free credit on purchases both sit in Travel insurance with cancellation cover, delayed departure and delayed baggage cover, Purchase insurance: all risk, price guarantee and extended warranty, no deductible and Up to 55 days interest free credit on purchases.
  • The currency conversion fee of 1.65% beats the credit card median of 2% and ranks 98 of 186.
  • The APR of 13.55% ranks 34 of 138, putting borrowing costs in the cheaper part of the field.
  • Mortgages from the same bank list an initial rate of 3.89% and an APRC of 3.96%, so a card holder buying a home has a second product in the same place.

Cons

  • The annual fee of SEK 195 is far above the credit card median of €0, and bunq, Varo Believe Secured Credit Card and Wise charge €0, $0 and £0.
  • The rewards type is none, so nothing comes back on everyday spending and the fee rests entirely on the insurances.
  • Under the access terms, transfers go only to the customer's own Swedbank accounts, which keeps the savings balance inside the bank rather than usable elsewhere.
  • Support runs on phone and help centre, so there is no written channel for a card query.
Swedbank Mastercard

Ready to try Swedbank Mastercard?

Scored 9.4 / 10 by SumCue.

See alternatives

Who it suits

  • Swedbank customers who want savings and a credit card from the same provider, with a monthly fee of SEK 0 on the account.
  • Households buying a home through the same bank, where the initial rate is 3.89% and the APRC is 3.96%.
  • Card holders who would rather have purchase and travel protection than a cashback scheme, given the rewards type is none.

Who should look elsewhere

  • People after a free card: bunq charges €0 and Varo Believe Secured Credit Card charges $0, against SEK 195 here.
  • Readers who want the lowest cost on foreign spend, since 1.65% applies to travel purchases on a card that already asks SEK 195 a year, while Wise's own card runs at £0.
  • Savers picking by headline rate alone, because the savings rate here is a variable 0.5% and can move.

Where it sits among rivals

The annual fee is the weak point. This card ranks 244 of 312 brands on annual fee, which places it at the expensive end of the comparison. Borrowing and foreign spend sit much better: the APR ranks 34 of 138 and the currency conversion fee 98 of 186. Costs that only bite when you borrow or travel hold up; the yearly charge does not.

Rewards and perks

The rewards type is none, so everyday spending earns nothing back and there is no points or mileage scheme to track. The card leans on Travel insurance with cancellation cover, delayed departure and delayed baggage cover, Purchase insurance: all risk, price guarantee and extended warranty, no deductible and Up to 55 days interest free credit on purchases instead: travel insurance with cancellation, delayed departure and delayed baggage cover, purchase insurance with a price guarantee and extended warranty and no deductible, interest free credit on purchases, an extra card at no extra cost, rental car excess reduction, an optional payment protection add on, and a balance transfer to another account. Read it as protection rather than rewards.

Fees and currency costs

Three charges matter on the credit card, and the annual fee of SEK 195 is the one that arrives regardless of how you use it. Balances that roll over from the statement cost 13.55%, and spending in another currency costs 1.65%. A household that clears the balance in full each month pays the annual fee and nothing more, while anyone carrying a balance pays 13.55% for the privilege.

Who runs it

The card comes from Swedbank AB (publ), whose head office sits in SE and whose history reaches back to 1820. The banking side is supervised by Finansinspektionen in Sweden. Support runs on phone and help centre, with no email or live chat listed, so a card query goes to a phone line or the help centre.

How Swedbank Mastercard compares

Where Swedbank Mastercard is available

Available
Sweden
Licence in Sweden
Finansinspektionen, checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does the Swedbank Mastercard cost to keep?+

The card carries an annual fee of SEK 195, and the savings account charges a monthly fee of SEK 0 on a minimum deposit of SEK 0, so the card fee is the only recurring cost. It pays for the items in Travel insurance with cancellation cover, delayed departure and delayed baggage cover, Purchase insurance: all risk, price guarantee and extended warranty, no deductible and Up to 55 days interest free credit on purchases, including purchase insurance and a balance transfer, where bunq and Wise charge €0 and £0.

What rate applies to a balance left on the card?+

The APR is 13.55%, and that is the number that matters for anyone who does not clear the statement in full. The card also carries an interest free period on purchases, listed in Travel insurance with cancellation cover, delayed departure and delayed baggage cover, Purchase insurance: all risk, price guarantee and extended warranty, no deductible and Up to 55 days interest free credit on purchases, plus a balance transfer to another account for moving existing card debt. Savings alongside it pay a variable rate of 0.5%.

What does it cost to spend in another currency?+

The currency conversion fee is 1.65%, and it ranks 98 of 186 on this measure, which is a fair placing. The credit card group median is 2%, so the charge sits below the middle of the field. Spending in the currency of the account keeps the fee out of the way.

Does the card pay cashback or points?+

The rewards type is none. There is no cashback, points or mileage scheme on the card, so nothing comes back for everyday spending and the SEK 195 annual fee has to be weighed against protection instead. That protection sits in Travel insurance with cancellation cover, delayed departure and delayed baggage cover, Purchase insurance: all risk, price guarantee and extended warranty, no deductible and Up to 55 days interest free credit on purchases: purchase insurance, travel insurance, interest free credit and a balance transfer.

Who runs the card and who supervises the bank?+

The card is issued by Swedbank AB (publ), headquartered in Sweden and operating since 1820. The banking side is supervised by Finansinspektionen in Sweden. Card support runs on phone and help centre, so a query goes to a phone line or the help centre rather than a written channel.

What do the savings side pay, and can I get the money out?+

The savings account pays a headline rate of 0.5% on a variable basis, with a minimum deposit of SEK 0 and no monthly fee. Cash withdrawals carry no charge but arrive after a delay, and under the access terms transfers go only to your own Swedbank accounts, with payment services kept out of the link.

How do I get help with the card?+

Support runs on phone and help centre: a phone line and a help centre. No email or live chat channel is listed, so anyone who would rather write than call has fewer options. For questions about fees or a balance transfer, the help centre and the phone line are the routes offered.

Can I take a mortgage from the same bank?+

Yes. The listed initial rate is 3.89% and the APRC is 3.96%, fixed for 0.25, with borrowing up to 90% loan to value. The product fee is SEK 650, and the stated purposes cover house purchase, remortgaging and buyers new to the market.

Sources

Compiled from 9 source pages, checked September 26, 2026. We did not open an account.

Swedbank Mastercard

Swedbank Mastercard

Swedbank customers who want card and savings from the same bank without paying for rewards.

9.4/10See alternatives