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Klarna Bank review

Updated September 28, 2026 · DebitCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Klarna Bank suits readers who shop inside the Klarna app and want a card that costs nothing to hold. The US card is a Visa debit card with an annual fee of $0, a monthly fee of $0, a currency conversion fee of 0% and cashback of 0.5% to 1.5% credited in the app.

Key facts

Best for
Fee-free spending with cashback paid through the app.
Annual fee
$0 (Source, checked September 26, 2026)
APR
9.5% (Source, checked September 26, 2026)
Currency conversion fee
0% (Source, checked September 26, 2026)
Rewards type
Cashback (Source, checked September 26, 2026)
Rewards rate
up to 10% cashback in app (Source, checked September 26, 2026)
Card kind
Credit (Source, checked September 26, 2026)
Legal entity
Klarna Bank AB (publ) (Source, checked September 26, 2026)
Founded
2005 (Source, checked September 26, 2026)
Pricing model
No annual fee
Features
Rewards
Official website
klarna.com

Debit cards

Monthly fee
$0 (Source, checked September 26, 2026)
Currency conversion fee
0% (Source, checked September 26, 2026)
Card type
Debit (Source, checked September 26, 2026)
Cashback rate
0.5% to 1.5% (Source, checked September 26, 2026)
Card network
Visa (Source, checked September 26, 2026)
Legal entity
Klarna Bank AB (publ) (Source, checked September 26, 2026)
Founded
2005 (Source, checked September 26, 2026)
Features
Rewards

Apps and profiles

Get the app
App Store
Elsewhere
WikidataWikipediaLinkedInX

Pros and cons

Pros

  • An annual fee of $0 and a monthly fee of $0 on the US debit card.
  • A currency conversion fee of 0%, so spending in another currency carries no conversion charge.
  • Cashback of 0.5% to 1.5% on a card listed as debit on the visa network.
  • It ranks 1 of 301 brands compared on annual fee and 1 of 181 on currency conversion.

Cons

  • The UK credit card charges an APR of 9.5% on borrowing.
  • On APR it ranks 20 of 133 brands compared, so the fee-free side does not carry into the cheapest credit.
  • The reward is cashback, cashback, and the rate runs 0.5% to 1.5%, so the top of the range is a ceiling rather than the norm.
Klarna Bank

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Scored 9.1 / 10 by DebitCue.

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Who it suits

  • Readers who shop inside the Klarna app and want cashback of 0.5% to 1.5% on everyday spend.
  • Cardholders who want a Visa debit card, debit, with a currency conversion fee of 0%.
  • Cost-first shoppers: the annual fee is $0 and the monthly fee is $0.

Who should look elsewhere

  • Borrowers after the cheapest credit: Varo Believe Secured Credit Card shows an APR of 0%.
  • Readers who want a debit card with no shopping-app rewards to track: Varo Visa Debit Card is the comparison here, with an APR of 0%.
  • Anyone who prefers a platform card to a bank-issued one: Bitpanda's card has an annual fee of €0.

How it compares on our data

In the comparison tables the Klarna annual fee ranks 1 of 301 brands compared, and the currency conversion fee ranks 1 of 181. The APR ranking is 20 of 133, so the card sits at the top of both fee measures and further down the field on borrowing cost.

The company behind it

The card is issued by Klarna Bank AB (publ), the banking company named for the brand, and the publ suffix marks it as a public limited company. Klarna was founded in 2005, so the company behind the card has a long operating history, and the banking entity is the same name on the account.

How Klarna Bank compares

Frequently asked questions

What does the Klarna card cost to hold?+

The US debit card has an annual fee of $0 and a monthly fee of $0, so holding it costs nothing either way. It is listed as a no annual fee product, no annual fee, and ranks 1 of 301 brands compared on annual fee.

Is there a fee for spending abroad?+

The currency conversion fee is 0% on the Klarna card, so there is no cost for paying in another currency. It ranks 1 of 181 brands compared on this measure, against a site median of 1%.

Is the Klarna card a credit card or a debit card?+

Both forms sit under the Klarna name. The US Klarna card is listed as a debit card, debit, on the Visa network, visa, while the UK cards page lists a credit card, credit. The quoted fees of $0 and $0 apply to the US card.

How much cashback does the card pay?+

The US debit card pays cashback of 0.5% to 1.5%, and the reward type is cashback, cashback. Rewards are a listed feature of the card, rewards, and the cashback is credited in the Klarna app as spending goes through.

What does borrowing cost?+

The UK Klarna credit card charges an APR of 9.5% on borrowing, below the site median of 20.97%. It ranks 20 of 133 brands compared on that measure, so the cost of credit sits comfortably without being the lowest on the table.

Which company issues the card?+

The card is issued by Klarna Bank AB (publ), the banking entity behind the brand. Klarna was founded in 2005 and operates under that public limited company name, so the account agreement sits with the bank itself.

Who does the Klarna card suit?+

It suits readers who already shop inside the Klarna app and want the fee-free side of the card. The annual fee of $0 and currency conversion fee of 0% put it at the top of both fee rankings, while cashback of 0.5% to 1.5% is the reason to carry it.

Sources

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Klarna Bank

Klarna Bank

Fee-free spending with cashback paid through the app.

9.1/10See alternatives