# Credit Card Interest Rates in Portugal (2026)

> How TAEG, TAN, and revolving interest work on Portuguese credit cards, and what the Banco de Portugal maximum rate means for you.

By Jules de Bruin · URL: https://www.how-to-portugal.com/finance/credit-card-interest-rates

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.

## 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.

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## 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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Source: https://www.how-to-portugal.com/finance/credit-card-interest-rates
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