Credit Card Interest Rates in Portugal (2026)
Updated August 2026. Portuguese credit cards display TAEG, the annual effective rate including all charges. Banco de Portugal sets a quarterly TAEG máxima ceiling, which was around 19% in mid-2026. You can avoid interest by repaying the full balance within 20 to 50 days.
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What Is TAEG?
TAEG stands for Taxa Anual Efetiva Global. It is the total annual cost of credit, including interest, fees, and taxes. It lets you compare cards on a like-for-like basis. TAN is the nominal interest rate; TAEG includes everything else.
What Is the Banco de Portugal Ceiling?
Banco de Portugal publishes a maximum TAEG for credit cards and revolving credit each quarter. In mid-2026 this ceiling was approximately 19%. Issuers cannot charge more than the ceiling for new contracts.
What Is the Interest-Free Period?
Most Portuguese cards give 20 to 50 interest-free days when you repay the full balance. If you choose instalments or partial payment, interest applies from the transaction date on the financed amount.
Frequently Asked Questions
What is the difference between TAN and TAEG?
TAN is the nominal interest rate. TAEG includes TAN plus fees and charges, giving the true annual cost.
Can a card have 0% TAEG?
Some cards offer 0% TAN on the base payment mode, but TAEG may still apply if you use instalments or cash withdrawals.
Does the TAEG ceiling protect existing cards?
The ceiling applies to new contracts and certain changes. Existing contracts may follow the rate agreed at signing unless renegotiated.
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