Sweden is widely thought of as the most cashless society in the world. This means major credit cards are widely accepted throughout Sweden, including American Express,Diners Club, and Visa. If you see a Eurocard or Access sign, the establishment accepts MasterCard. However, Discover cards are not accepted. You also can withdraw currency from ATMs at various locations.
For those wondering how much it will cost to use your credit card abroad, it all depends on the agreement you have with your card supplier. Most credit cards will charge you for using a cash machine abroad, but since it varies between companies, contact your card-provider to know the rate for sure.
Please note:In order to pay or withdraw cash with your credit card it requires that you have a card with chip and PIN (Personal Identification Number). The older magnetic-stripe cards won’t work.
Credit cards can come with some enticing perks, including added security, loyalty programs, and even free travel insurance.
But are they worth it?
Major local businesses, including hotels, restaurants, airline offices, and department stores, accept credit cards. But you usually have to pay a 1-3% surcharge.
So be aware of additional charges you may incur for foreign transactions. These could include:
- International transaction fees
- High exchange rate margins
- ATM fees
- Potential ‘cash advance fees’ if you use an ATM
If you still prefer credit cards over any other payment, consider going with a company that offers cards that waive certain travel fees. Bankwest Platinum and 28 Degrees both have travel-friendly cards.
