Credit Cards in Portugal: Best Cards for Expats and Residents

Portugal runs on cards – but mostly debit cards. Locals pay with MultibancoPortugal's national ATM and payments network. Many bills can be paid at a Multibanco machine using a payment reference. debit cards and the MB WayA widely used instant-payment app linked to a Portuguese bank account and phone number. app far more than with credit cards, and many small shops still prefer a debit payment. Still, a credit card is useful for car rentals, hotel deposits, online purchases and building a Portuguese credit record.

This guide explains how cards work in Portugal, what credit cards cost, which ones are realistic for newcomers and how to apply.

In short:

• Debit cards and MB WAY are king for everyday payments.
• Credit card interest is capped by law: the maximum APR (TAEG) for cards is 18.5% in the fourth quarter of 2026, reviewed every quarter by Banco de Portugal.
• To get a Portuguese credit card you'll usually need a NIF, a Portuguese bank account, proof of address and proof of income.
• Newcomers often start with a card from their own bank, a retail card (such as Universo) or a secured/low-limit card.
• Foreign Visa and Mastercard cards work almost everywhere; American Express is accepted less often.

How payments work in Portugal

Multibanco

Multibanco (often just "MB") is Portugal's interbank network. Every Portuguese debit card works on it, and Multibanco ATMs do much more than give cash: you can pay bills, utilities, taxes and social security, top up phones and buy public transport tickets.

At shops you'll see "MB" on card terminals. Portuguese debit cards are usually co-branded Visa Debit or Mastercard Debit, so they also work abroad and online.

MB WAY

MB WAY is the national mobile payment app, linked to your Portuguese bank card. You can send money to a phone number, split bills, pay online and pay in shops. Many small businesses, markets and even landlords prefer it. You need a Portuguese bank account or a provider that offers Portuguese IBANs.

Step-by-step setup, limits, fees and the most common scams are covered in our guide to MB WAY in Portugal.

Contactless and limits

Contactless is everywhere. Payments above €50 usually require a PIN. Some small cafés have a minimum card payment, typically a few euros.

Debit vs credit cards

How credit cards work in Portugal

Repayment options

When you get a credit card, you choose how to repay each month:

• Full balance (100%) – no interest if paid by the due date. The cheapest way to use a card.
• Percentage – for example 5% or 10% of the balance; the rest accrues interest.
• Fixed amount – a set monthly sum.

Most cards offer an interest-free period of up to about 50 days if you pay in full.

Interest caps (TAEG máxima)

Banco de Portugal sets a maximum APR (TAEG máxima) every quarter for each type of consumer credit. For credit cards, credit lines and overdrafts it is 18.5% in Q4 2026, unchanged from the previous quarter. No lender can charge more on new contracts. Check

That's still expensive, so treat revolving credit as a last resort.

Fees and taxes to watch

• Annual fee (anuidade) – varies widely; some cards waive it if you spend a minimum amount.
• Stamp duty (Imposto do Selo) – charged on credit interest and many fees.
• Cash advances – fees plus interest from day one. Avoid them.
• Foreign currency transactions – usually a percentage fee on non-euro spending.
• Late payment fees and interest.

The bank's price list (preçário), which every bank must publish, shows all current fees.

Can expats get a credit card in Portugal?

Yes, but it takes some preparation. Portuguese banks assess you mainly through:

• Your income (what counts as a typical salary) – payslips, IRS tax return, pension statements or freelance invoices.
• Your Portuguese credit history – recorded in Banco de Portugal's Central de Responsabilidades de Crédito (CRC). Newcomers usually have none.
• Your relationship with the bank – salary transferred to the account, savings, how long you've been a customer.

What you'll usually need

• NIF (tax number)
• Passport or EU ID card, and residence permit or EU registration certificate if you have one
• Portuguese proof of address
• Proof of income (last 3 payslips, last IRS return, pension letter or foreign tax return)
• A Portuguese bank account – see opening a bank account

Options for newcomers

1. A card from your own bank

The easiest route. Once your salary or pension goes into the account for a few months, ask for a credit card. Banks often start newcomers with a low limit (for example €500–€1,500) and increase it over time.

Main banks issuing credit cards include Caixa Geral de Depósitos (CGD), Millennium BCP (and its digital brand ActivoBank), Santander, Novo Banco, BPI, Bankinter, Crédito Agrícola and Montepio.

2. Retail and specialist cards

Specialist credit companies and retailer-linked cards are widely used in Portugal. Examples include Universo (linked to Continente supermarkets, with rewards on shopping), Cofidis and Cetelem cards. Approval can be quicker, but interest rates are often close to the legal maximum – only use them if you pay in full every month.

3. Fintech and neobanks

• Revolut, N26 and Wise are popular with expats. Revolut offers Portuguese IBANs and works with MB WAY in many cases. These are mainly debit or prepaid products in Portugal; credit products, where available, depend on your country of residence and the provider's current offer.
• Moey! (Crédito Agrícola's digital bank) offers a simple free account and card.

4. Keep a card from home

Your foreign credit card will work in most of Portugal. Watch out for foreign transaction fees if it isn't a euro card, and remember it doesn't build a Portuguese credit history.

How to choose a credit card

1. Annual fee – is it free, or waived with minimum spending?
2. TAEG – compare the APR, but aim never to pay it.
3. Interest-free period – how many days?
4. Rewards – cashback, supermarket points or travel miles. Only worth it if you'd spend anyway.
5. Insurance – travel insurance, purchase protection, extended warranty.
6. Foreign fees – important if you travel or shop outside the eurozone.
7. App and English support – how easy is it to freeze the card, change limits or see statements?

Banco de Portugal's Portal do Cliente Bancário explains how to compare offers using the standard information sheet (Ficha de Informação Normalizada), which every lender must give you before you sign.

Tips for using cards in Portugal

• If a card terminal or website offers to convert the amount into your card's currency ("dynamic currency conversion"), decline and pay in the local currency – euros in Portugal.
• Car rental companies usually require a credit card (not debit) for the deposit – see driving in Portugal.
• Some petrol stations and toll systems pre-authorise an amount on your card.
• If your card is lost or stolen, block it immediately through your bank's app or the SIBS card-blocking line shown on your bank's website.
• Check your CRC report for free on the Banco de Portugal website to see what lenders see.

This guide is general information, not financial advice. Rates and fees change: check each bank's current price list (preçário) before applying.