Mastercard top tips

What is Mastercard and why do I need one?
What is a credit card?
A credit card, unlike your Visa card, is not linked to your current bank account. You can use your Visa card to make payments provided that you have money in your current bank account. Making payments with a credit card means that you are borrowing money. Money borrowed must be paid back, so you must not use credit cards to make payments if you cannot afford to pay the credit card bill when it is due.

So when you pay with a credit card, you borrow money. However, it does not have to be expensive to use a credit card. If you repay the entire amount when you receive your credit card bill on the due date, it will not cost you extra to use a credit card. It is only when you pay after the due date that you will have to pay interest on the amount that you are still borrowing from the bank. We recommend that you repay the entire amount when you receive your credit card bill.

Credit card advice:
  • It is a good idea to have more than one bank card when you are on holiday and that one of them is a credit card. When you use a credit card to make a payment, you receive better protection against fraud. In addition, it is often useful to be able to distinguish holiday expenses from your other expenses.
  • If you pay travel with a credit card, you will, as a rule, also receive travel and cancellation insurance at the same time. Always check beforehand which offers and terms and conditions apply for your credit card.
  • Another tip is to use a credit card when you rent a car or check into a hotel. Your Visa card will then not be charged for the deposit or other charges. Many have fallen into this trap and have then not been able to use their Visa card during the rest of their holiday.
  • It is also smart to use a credit card when shopping online so that you can check the bill before you pay.


Considering getting a credit card with DNB? Then please remember:
  • If you pay with a credit card you are borrowing money from the bank. Money borrowed must be paid back, so you must not use a credit card for purchases which you cannot afford to pay for when you receive the bill from the bank.
  • If you do not pay the bill, you can get a negative mark on your credit report. This may then make it more difficult to be granted a home mortgage, a car loan or a mobile phone subscription etc.
  • There are good reasons for having a credit card, but ensure that you can pay your credit card bills.
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