The Skandiabanken Visa offers a range of beneficial insurances designed to make both travel and shopping safer.
It includes travel insurance with cancellation protection, all-risk insurance, delivery insurance, a price guarantee, and an extended warranty.
Here's a straightforward guide on how to apply for the Skandiabanken Visa online in Sweden.
Skandia Overview
Skandia is a financial institution providing long-term investment services. It focuses on sustainable growth through stable investments.
Skandia also promotes preventive health measures to contribute to a healthier Sweden.
With over 160 years of experience, Skandia has established itself as a trusted provider of financial security across generations.
Bank Cards from Skandia
When applying for the Skandiabanken Visa, you also have the option to get a Skandia bank card (debit card). To receive the bank card, you must become a bank customer at Skandiabanken.
This includes opening a salary account, savings account, and access to an internet bank. The Skandia Visa bank card is directly linked to the salary account, so purchases made using it are deducted from there.
The Skandiabanken Visa bank card comes with supplementary travel insurance, but it does not include the additional insurance that comes with the credit card.
Review of Skandia Visa credit card
Skandiabanken Visa offers a range of insurances, including travel insurance, all-risk coverage for electronics and appliances, a delivery guarantee, an extended warranty, price protection, and rental car insurance that covers excess costs when renting a car abroad.
Mobile payments can be made through Google Pay and Samsung Pay. However, Apple Pay is not supported at this time. The card lacks additional benefits such as loyalty programs or discounts.
Currently, applications for the Skandiabanken Visa credit card are not open.
Fees and Interest for Skandia Visa Credit Cards
Skandiabanken Visa credit card offers up to SEK 100,000 in credit. You get up to 60 days of interest-free purchases. If you pay the full balance monthly, no interest is charged.
If you choose partial payment, an interest rate of 10.99% applies. There’s a 1.65% currency conversion fee when using the card abroad. A 2% fee is charged for cash withdrawals, with a minimum of SEK 35.
The monthly fee for the Skandiabanken Visa is SEK 20 (SEK 240 annually). If you register as a Skandiabanken customer and subscribe to their "Everyday Package," the credit card is free for the first year. After that, the monthly fee applies.
Travel Insurance, All-Risk Insurance, and Delivery Insurance
Skandiabanken Visa offers a range of insurances to enhance cardholders' security. In addition to standard travel insurance, additional protections like purchase insurance and extended warranties are included.
Here’s what the Skandiabanken Visa covers:
- Supplementary travel insurance with cancellation protection, activated when at least 75% of the trip is paid using the card.
- Accident coverage offers compensation for disability or death during travel.
- Deductible protection for home and car insurance when traveling internationally.
- Unused activity compensation, covering up to SEK 10,000.
- Delivery insurance, providing up to SEK 20,000 in case of damage or non-delivery.
- Price Guarantee, valid for 90 days if the item is found at a lower price post-purchase.
- All-risk insurance for white goods and home electronics, valid for three years after the purchase date.
Is Skandia Visa a Good Credit Card?
Skandiabanken Visa offers solid benefits. Its key advantage is that comprehensive insurance is included. The interest rate is relatively low at 10.99%, making it appealing for those in Sweden looking to manage credit wisely.
Currency surcharges and withdrawal fees are reasonable as well. However, the annual fee of SEK 240 might seem unnecessary compared to free credit cards that also offer insurance, cashback, and fuel discounts.
If these extras matter, consider comparing options. Otherwise, Skandiabanken Visa remains a strong choice, especially for its insurance coverage.
Requirements in Applying
To apply for the Skandiabanken Visa in Sweden, you need to meet these criteria:
- Be at least 18 years old.
- Have a stable monthly income.
- Ensure there are no outstanding payment remarks.
Simple Steps to Apply
Simple Steps to Apply for the Skandiabanken Visa in Sweden:
- Apply for the Skandiabanken Visa.
- Confirm your identity and digitally sign the Activation Letter using the BankID app.
- Receive your Visa card and PIN by postal mail.
- Complete the activation process using the link sent via email or SMS.
Interest Rates and Credit Fees
Skandiabanken Visa offers competitive rates and fees, making it a solid choice for individuals in Sweden.
- Annual Fee: The card has two options: SEK 0 for the basic plan and SEK 240 for premium benefits.
- Highest Credit: You can access up to SEK 100,000 in credit, providing flexibility.
- Interest: The standard interest rate is 10.99%, ensuring manageable payments.
- Effective Interest Rate: At 12.07%, this rate includes additional costs to give a clear idea of total borrowing costs.
- Interest-Free Period: You get up to 60 days without interest on purchases.
- Card Type: Standard Visa card with worldwide acceptance.
- Withdrawal Fee: No extra cost for cash withdrawals.
- Currency Surcharge: A 1.65% fee applies when transacting in foreign currencies.
- Airfare: No additional fees for booking airline tickets.
- Reminder Fee: SEK 60 is charged for payment reminders.
- Late Fee: There’s no late fee for missed payments.
- Overdraft Fee: Overdrafts are charged SEK 75 when you exceed your credit limit.
- Minimum Payment: You must pay at least 5% of the balance (minimum SEK 100) each month.
Insurances
Skandiabanken Visa offers several insurance benefits tailored to users in Sweden. These include:
- Comprehensive insurance
- Cancellation protection
- Payment protection
- Hole-in-one insurance
- Delivery Insurance
- Price Guarantee
- Travel Insurance
- Deductible reduction
Verifying what’s included in the Skandiabanken Visa is important, as some insurance coverages might not be automatically provided. Ensure all necessary protections are confirmed during the application process.
Contact and Address
Contact Skandiabanken AB using the following details:
- Company Name: Skandiabanken AB
- Organization Number: 516401-9738
- Address: Lindhagensgata 86
- ZIP Code: 11218
- Location: Stockholm, Sweden
- Phone: 0771-555-500
Conclusion
The Skandiabanken Visa is a simple and efficient option for those in Sweden looking for a reliable credit card. Make payments regularly to avoid high interest fees.
The FAQ section on Skandiabanken’s website offers helpful information on the Skandiabanken Visa. Good luck with your application!
