Review: Morrow Bank Mastercard for Travellers

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Morrow Bank Mastercard is a competitor to Bank Norwegian´s Visa. Both cards have similar features. Although the Morrow Bank credit card is not targeted at travellers, frequent travellers can benefit significantly from it. Please read our review to familiarise yourself with the Morrow Bank Mastercard as we share our experiences.

The Morrow Bank Mastercard is a credit card from Norway. While it may not be the first card that comes to mind, it outperforms many traditional and more expensive credit cards from competitors. This review explores whether the Morrow Bank Mastercard is a good fit for travellers living in Finland and Sweden.

We paid special attention to comparing this card with the Bank Norwegian Visa, which offers similar features.

The Morrow Bank Mastercard is available in both Finland and Sweden. This review is based on the Finnish version of the card, but Morrow Bank Mastercards offered in other countries share many similarities.

The Morrow Bank Mastercard is a credit card. You are not required to pay the full balance by the due date, but any remaining balance will accrue interest. To avoid costly interest charges, we recommend paying your bill in full whenever possible.

The card does not have a debit feature. Unlike debit cards, where transactions are debited or reserved from your bank account immediately, the Morrow Bank Mastercard is strictly a credit card.

Credit cards do offer some advantages over debit cards. For example, you can use a Mastercard to pay hotel or car rental deposits without having the funds immediately withdrawn from your bank account. Additionally, the Morrow Bank Mastercard offers up to 50 days of interest-free credit on your purchases. Typically, credit cards also come with more perks than debit cards.

Morrow Bank is a Norwegian online bank. It operates similarly to Bank Norwegian, which markets a Visa card across the Nordic countries. Morrow Bank mainly focuses on consumer loans but also offers a Mastercard in its product lineup.

The Morrow Bank Mastercard is well-suited for everyday spending. It has no annual fee, and you generally get about 50 days to pay off your balance without incurring interest. However, the interest rate is high if you miss the payment deadline.

We advise against using the card’s credit feature regularly because the interest rates can be comparable to costly short-term loans. Instead, use the interest-free period to consolidate your daily expenses into one monthly bill.

The card’s credit limit can go up to 10,000 euros, but the exact limit depends on the individual applicant. Most users will receive a limit of a few thousand euros, which is sufficient for everyday spending.

While travelling, it's important to have a sufficiently high credit limit to cover large deposits often required by car rental agencies and hotels.

Nordic immigrants who don’t yet have a credit card might find Morrow Bank a solid choice for their first credit card.

The card is free and not linked to any local bank. It offers several valuable free features, providing good value for newcomers. Applying for the card is straightforward and can be completed online in under five minutes.

Before applying, you should have a local bank account and debit card. Your chances of approval improve if you have lived in the country for some time and have a stable, sufficient income.

The card is independent of any local bank. Anyone over 23 years old without a negative credit history can apply through Morrow Bank’s website. The application process is fully electronic—you can sign using Nordea’s authentication tools, as we did. Once approved, you can choose your own PIN code, and the physical card arrives by mail within about a week.

Morrow Bank operates as an online bank.

Using the card responsibly means no recurring fees. There is no monthly or yearly fee, and no interest charges if you pay your balance in full by the due date. However, missing payments leads to expensive interest rates.

If you fail to pay on time, the interest rate can exceed 19%. Also, the card charges interest on ATM cash withdrawals. While the fee schedule states that cash withdrawals are free of charge, this isn’t entirely accurate. You will pay interest from the withdrawal date until the balance is paid in full. The currency conversion fee is 1.75%, which is standard among banks.

Withdrawing cash using the Morrow Bank Mastercard is generally not recommended. For cash withdrawals, Bank Norwegian’s Visa card is a better alternative. Aside from this, the Morrow Bank Mastercard remains a solid choice.

Like most banks, Morrow Bank allows you to pick your own PIN after your application is approved. You can set your preferred PIN code yourself.

Apple Pay and Google Pay compatibility is a convenient bonus. You don’t need to carry a physical card—you can shop securely using just your phone. Forgetting your wallet won’t stop you from making purchases as long as you have your phone.

The best feature of the Morrow Bank Mastercard is its bonus program. The card offers 2% cashback on online purchases and 1% cashback on in-store transactions. The cashback is credited as money that can be used to pay future bills.

Bonus points are awarded as follows: every 10 points equals 1 euro. For purchases over 100 euros online, you earn 20 points, equivalent to 2 euros cashback; for in-store purchases, you earn 10 points per 100 euros, or 1 euro cashback.

Compared to Bank Norwegian’s Visa card, Morrow Bank’s bonus system is much more generous. You earn points faster, and the cashback can be used for anything, not just flights. (Bank Norwegian also offers cashback, but only at 0.5%.)

Morrow Bank’s bonus program has some limits. You can earn a maximum of 2,000 points per year (200 euros cashback).

Despite the restriction, Morrow Bank’s bonus system is among the best on the market and suits anyone wanting straightforward cashback rather than rewards tied to flights. In summary, it is a versatile and user-friendly program.

Another key advantage of the Morrow Bank Mastercard is the range of insurance coverage it includes for free.

The travel insurance comes into effect when at least 50% of the total travel costs are paid with your Morrow Bank Mastercard. This requirement is similar to that of the Norwegian Visa. The insurance covers your entire family, making it more comprehensive than Bank Norwegian’s offering. Alternatively, you can cover up to three travelling companions as long as they travel on the same itinerary as you. If your family is covered, you as the cardholder don’t need to be travelling with them.

The insurance has a 100-euro excess for sickness or accidents. It also covers your belongings, although the terms are not as generous as standalone travel insurance. We recommend purchasing high-quality travel insurance separately to complement the card’s coverage.

The insurance is provided by Gouda and covers trips of up to 60 days.

This coverage is particularly beneficial for travellers. It is included in the free travel insurance and covers up to 1,000 euros toward the excess on car rental collision damage waivers. The insurance also applies to rentals of vehicles like boats, scooters, and Segways.

While Bank Norwegian offers a similar policy, theirs typically requires an extra fee.

This insurance protects your purchases against theft and damage.

It covers items costing over 50 euros for up to 90 days after purchase. To qualify, purchases must have been paid with the Morrow Bank Mastercard.

Identity theft occurs when someone fraudulently uses your personal details, such as your name or ID number, often leading to unauthorised loan applications and other issues. Morrow Bank Mastercard includes identity theft insurance that covers up to €10,000 in legal costs arising from such cases.

To better understand this product, we applied for the Morrow Bank Mastercard ourselves.

We applied through the bank’s website. Anyone over 23 with a stable financial situation can apply. The online form requests personal details, information about monthly income, and current finances. We received immediate preliminary approval with a credit limit.

Following this, we had to submit a salary slip and provide details about any political exposure. The entire application took about five minutes to complete.

A few days later, we received final approval via email. The physical card arrived a few days after that. Overall, it took about one week from application to receiving the card.

If you neglect to provide required additional information, Morrow Bank follows up with multiple emails and SMS reminders.

For applicants residing in Finland, the application process is currently only available in Finnish.

Managing your card is easy with the Morrow Bank mobile app. The app is available from standard app stores and installs quickly.

After completing a strong authentication upon first use, you can log in using a passcode or fingerprint. The app shows real-time transactions, displays your invoices, and allows you to lock your card if it’s lost or stolen temporarily.

The Morrow Bank Mastercard is an excellent, free credit card. We recommend avoiding the credit feature due to its high interest rates.

The card provides quality, free insurance coverage and a valuable cashback program that offers real money back, not just points tied to specific rewards. While Bank Norwegian’s Visa may offer slightly higher payback rates, their rewards are generally limited to flights with Norwegian Air Shuttle.

Note that the cash withdrawals are not truly free—you pay a 1.75% currency conversion fee plus interest from the withdrawal date until full payment is made. Despite these minor drawbacks, the Morrow Bank Mastercard’s many other benefits outweigh them.

With its range of valuable free features, including multiple insurance coverages and a strong bonus program, we rate the Morrow Bank credit card 5 stars.

Applying for a Morrow Bank Mastercard is a simple online process. The card comes with many valuable features and, when used wisely, is free of extra charges. It is a handy addition to any traveller’s wallet, especially benefiting from its rental car excess coverage.

Though not explicitly designed for travellers, many of the card’s features make it a great option for everyday spending as well. By paying your balance on time, you can enjoy the card’s perks without incurring any additional costs.

Tags: payment card, review, travel tips Destinations: Finland, Sweden