Last updated:
May suit
- You understand ongoing interest and want to calculate a specific discount.
- You meet the documented income and age requirements.
What to watch for
- Purchases accrue interest from the purchase date.
- The monthly statement fee is NOK 40.
- The issuer’s current card is Visa, although old reviews may say Mastercard.
A discount must outweigh its cost
The card has category discounts, including 5% for selected public transport and EV charging. Check current offers and restrictions with the bank. As purchases have no interest-free period, a discount cannot be assessed in isolation. Calculate the time until repayment, the statement fee and any other fees before using the card as a way to save money.
No interest-free period even with full repayment
Nominal purchase interest is 18.9%, but accrues from the purchase date. This differs from cards offering up to 45 or 50 interest-free days with full invoice repayment. The monthly statement fee is NOK 40. The complete borrowing example uses NOK 45,000 over 12 months with effective interest of 22.85%. Assess these conditions together rather than comparing only nominal percentages.
Documented requirements and current card type
You must be at least 23, have gross annual income of at least NOK 250,000 and no payment remarks. The bank also assesses debt and repayment capacity and uses BankID. D-number acceptance and minimum residence duration remain unconfirmed. The current product page describes Visa. Older Mastercard images or programme names do not establish the present card type or conditions.
Questions and answers
Does Instabank offer interest-free days?
No. The verified product page says interest starts on the purchase date. Full invoice repayment therefore does not provide the same interest-free terms offered by several other cards.
Is the card free because the annual fee is zero?
No. It accrues purchase-date interest and has a NOK 40 monthly statement fee. Cash fees and currency markup may also matter for your use.
Who can apply for the Instabank card?
Documented conditions include age 23, gross annual income of at least NOK 250,000 and no payment remarks. BankID is used and debt and repayment capacity are assessed. Ask directly about D-number acceptance.
