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  Professional offshore incorporations and offshore banking services since 1996

"Nordic One" credit cards security deposits

The Bank grants its Customers credit limits for all types of credit cards VISA and MasterCard – Classic, Business, Gold and Platinum.

You may obtain a credit limit for your credit card by placing a security deposit with the Bank. The amount of security deposit is stated below:

Security Deposit Amount1
Credit Limit + 300
Credit Limit + 250
Credit Limit + 300
Credit Limit + 250
Credit Limit + 600
Credit Limit + 450
Credit Limit + 1000
Credit Limit + 750
1) If you order more than 1 card, the security deposit is required for each card

Use of Credit Limit

Be ready to repay your credit limit monthly (by 15th date). To repay your outstanding credit limit, simply transfer or deposit the required amount into your card account.

For example, if you have a credit limit of EUR 200 and at the end of March you spent EUR 100, then you have to repay EUR 100 not later than by April 15. This amount can be placed in parts. Provided you pay your balance in full, you can again make use of the whole amount of your credit limit (EUR 200).

Credit limit interest is calculated on the daily basis on the outstanding amount. The accrued interest is charged to the cardholder’s account at the end of the month.

Revolving Credit Facility

Revolving credit – a line of credit, allowing to borrow some money and pay off only 10% from the disbursed amount monthly (by 15th).

For example, if you have a credit limit of EUR 200 and at the end of March you spent EUR 100, then you have to pay off EUR 10 by April 15. This amount can be placed in parts. The facility is renewable. Funds that have been repaid can be borrowed again, thus within the coming month – by May 15 – you may spend the remaining amount of your credit limit (EUR 100) + repaid amount (EUR 10), i.e. altogether EUR 110 etc.

Revolving credit is granted to the Bank’s Customers against security deposit;

Notes to Corporate Customers

Companies requiring additional financial resources for covering minor day-to-day costs may request a credit limit on corporate credit card (both Latvian residents and non-residents). Companies, which have a loan or overdraft facility with the Bank, have an excellent opportunity to receive a credit card without security.




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