How does NordCard Creditlimit work?
Apply and start using it
Apply for a creditlimit and transfer it to your bank account. Receive the credit in your account within 2 working days (depending on what bank your account is in). You can ask the creditlimit to be paid in full, in installments, or leave it to stand as reserve money. While not in use, you dont need to pay anything for it!
Pay back in instalments
You can schedule your repayment schedule yourself - up to 60 months, repaying at least a minimum monthly payment, which is only 5% of the amount of credit spent, plus interest. You can save on interest by repaying more than the minimum payment!
What you pay back you can use again
The repayed amount of the creditlimit is immediately available again for use, but the unused portion is still available as reserve money that does not cost anything extra. Here you can see an example of how a creditlimit works!