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credit-building

Choosing Your First Credit Card in Portugal

By PointsExplainedLast reviewed

Check your credit record

Get your map of responsibilities free of charge from Banco de Portugal and fix any errors with the lender that reported them.

Work out what you can afford

Calculate the share of your monthly income already committed to debt before taking on a credit limit.

Compare TAEG and fees

Use the pre-contract sheet to compare TAEG, annual fee and other charges across at least two lenders.

Choose full repayment

Set the card to repay the full balance by the deadline so you pay no interest.

Where this comes from

Sources

The documents this guide relies on. If one has changed since we read it, the document is right and this guide is out of date.

  1. Cartão de crédito: como escolher e como usar em segurança — Caixa Geral de Depósitos (Saldo Positivo), 07-11-2025

    Choose an institution registered with Banco de Portugal; FIN contents (limit, TAN, TAEG, repayment options, commissions); compare TAEG; card TAEG limited by quarterly maximum rates; effort rate ideally ≤30% of net income; costs list; full payment no interest; cash advances costly; default records lead to refusal.

    cgd.pt · Accessed
  2. Universo — página inicial (Cartão Universo+) — Universo, IME, S.A.

    Universo+ credit granted by Universo, IME, S.A., registered with Banco de Portugal (no. 7500).

    universo.pt · Accessed
  3. Decreto-Lei n.º 133/2009 (contratos de crédito aos consumidores), versão consolidada — Diário da República

    Art. 2(1)(c): excludes contracts below €200 or above €75,000; art. 5: TAEG and representative example in adverts; art. 6: standard information sheet; art. 10: creditworthiness assessment and refusal information; art. 16: termination of open-ended contracts; art. 17: 14-day withdrawal and 30-day repayment; art. 29: ban on tied sales. Consolidated page lists Decree-Law 103/2025 as the latest amendment and records that the decree-law transposes Directive 2008/48/EC.

    diariodarepublica.pt · Accessed
  4. Consumer credits and loans — Your Europe (European Union), last checked 30/06/2026

    14-day withdrawal right; repay money borrowed plus interest.

    europa.eu · Accessed
  5. Cartão de crédito: como usar (bem) este meio de pagamento — Santander Portugal (Salto), atualizado a 9 março 2026

    Partial payment incurs interest on the unpaid amount.

    santander.pt · Accessed
  6. Decreto-Lei n.º 27-C/2000 (serviços mínimos bancários), versão consolidada — Diário da República

    Art. 1(2): services included (current account, debit card, EU ATM access, homebanking, branches; deposits, withdrawals, payments, direct debits, transfers); eligible persons incl. those without fixed address and asylum seekers; art. 3(1): annual charges ≤ 1% of IAS; art. 4: must not hold another current account (exceptions), open or refuse within 10 business days, bank offering the services.

    diariodarepublica.pt · Accessed
  7. Glossário de Cartões — Caixa Geral de Depósitos

    Definition of a prepaid card.

    cgd.pt · Accessed
  8. Como obter o mapa de responsabilidades de crédito — Santander Portugal (Salto), atualizado a 11 setembro 2026

    Map shows the amount in default; map free via Banco de Portugal.

    santander.pt · Accessed
  9. Informação institucional — Universo, IME, S.A.

    Universo, IME, S.A. is an electronic money institution authorised to grant credit linked to payment operations, registered with Banco de Portugal (no. 7500).

    universo.pt · Accessed
  10. Directive (EU) 2023/2225 on credit agreements for consumers and repealing Directive 2008/48/EC — EUR-Lex

    Art. 47: Directive 2008/48/EC repealed with effect from 20 November 2026; art. 48(1): Member States to adopt measures by 20 November 2025 and apply them from 20 November 2026.

    eur-lex.europa.eu · Accessed
Questions

About this guide

Can I change my mind after signing?

Yes. You have 14 calendar days to withdraw from a consumer credit contract without giving a reason; you then repay any credit used plus interest within 30 days of sending your notice.

I have no Portuguese bank account. Where do I start?

A minimum banking services account gives you a current account and debit card with annual charges capped at 1% of the IAS (as of September 2026), provided, as a rule, that you do not already hold another current account with a bank in Portugal.
Keep reading

Your Rights as a Credit Card Holder in Portugal

Credit Card Fees in Portugal and How to Avoid Them

Credit Card Interest in Portugal: TAN, TAEG, Usury Caps and Minimum Payments