SAS EuroBonus Cards Explained (2026): Amex vs. Mastercard vs. Lunar for EuroBonus

Q: What is the new SAS Executive Card?

The SAS Executive Card is a Mastercard World Elite business card for eligible companies in Sweden, Norway, and Denmark, issued by Nordiska. It earns 25 Bonus Points per 100 SEK/NOK/DKK and provides 20,000 Level Points annually. The public welcome offer adds 20,000 Bonus Points for redemptions. The annual fee is 7,188 SEK or NOK, or 5,988 DKK per card, billed in advance. The first groups are onboarding, and cards are shipping.

Q: Does the Executive welcome offer count toward status?

No. The current 20,000 Bonus Points welcome offer is redeemable currency. The card’s separate 20,000 annual Level Points count toward status. The earlier 25,000 extra Level Points offer expired September 20, 2026. Its 45,000-Level-Point first-year total should not be used for new applications.

Q: Can I get EuroBonus Gold without flying using the Executive + Amex Elite combo?

Yes, for eligible cardholders in Sweden and Norway. The Executive Card contributes 20,000 annual Level Points. Add a SAS Amex Elite at 300,000 kr personal spend and you earn another 18,000 Level Points (at 6 Level Points per 100 kr). That is 38,000, leaving only 7,000 for Gold. Another 116,667 SEK or NOK of Amex Elite spend reaches the 45,000 Level Points needed for Gold, provided all points count within the same qualification period. The welcome Bonus Points do not increase this total. The Mastercard Premium, ChangeMakers, hotels, or an eligible Level Point purchase can reduce that Amex spend further; see our complete no-flight status analysis.

Q: Does the SAS Executive Card replace the Amex Elite?

No. Some eligible business owners may find it worthwhile to hold both, provided they can use the separate benefits and justify both fees. The Executive is a business card with a high flat earning rate and 20,000 annual Level Points, but it does not earn the 2-for-1 voucher that makes the Amex Elite valuable for Business Class redemptions for two. Run company spend through the Executive; keep the Amex Elite for personal spend, the vouchers, and the Level Points stack toward Gold.

Q: Is the SAS Amex Elite worth the fee?

With the January 2026 fee increase to 6,900 kr/year, the bar is higher. If you’re aiming for EuroBonus Gold/Diamond and redeeming long-haul premium cabins, the Elite’s 6 Level Points per 100 kr plus two 2-for-1 vouchers can still justify the cost; otherwise, Amex Premium at 1,800 kr/year often delivers better ROI.

Q: I live in Denmark. Am I missing out without Amex?

Not necessarily. The SAS Mastercard Premium’s Fly Premium and Level Points can deliver strong value if you fly SAS often, but earning Gold from Danish personal-card spend alone requires substantially more spending than the Amex routes available in Sweden and Norway.

Q: When should I choose the Lunar debit card?

If you prefer debit, want no credit checks, or have lower annual spend. For maximizing points, credit cards still win.

Q: What is a EuroBonus point actually worth?

Around 0.10 kr/point for standard redemptions—but up to 0.50 kr/point when used with a 2-for-1 or Fly Premium in premium cabins.

Q: How quickly do points post?

Usually within a few days after the statement closes. If not after 30 days, contact your card issuer.

Q: How can I find award seats?

Use AwardFares to search SAS and partners. Set alerts to book the moment seats appear. We surface availability across SAS and key SkyTeam partners (e.g., KLM, Air France, Delta) so you can pivot when one carrier has no space.

Choosing the right SAS EuroBonus card can feel needlessly complex. If you’re deciding between the SAS Amex, Mastercard, Lunar, or Executive business cards in 2026, this guide compares fees, earning rates, and perks across Sweden, Norway, and Denmark, so you can find the best SAS EuroBonus card for your spending habits and travel goals.

What’s New in 2026

Key changes since late 2025:

SAS Executive Card Public Offer (September 2026): The first boarding groups are onboarding, and cards are shipping. The current welcome offer is 20,000 Bonus Points for redemptions, alongside 20,000 annual Level Points toward status. The early access offer of 25,000 extra Level Points expired September 20. See our full SAS Executive Card guide.
Amex Fee Increases (Jan 29, 2026): Premium now 1,800 kr/year (+180 kr), Elite now 6,900 kr/year (+900 kr). Classic remains free.
Status From Spending: It is now possible to reach Silver, Gold, or even Diamond without flying, but the math varies sharply by country and card eligibility. See our new EuroBonus status-from-spending analysis.
Welcome Offers Vary by Market: The 45,000-point Amex Elite invitation campaign ended May 4, 2026. Check the Swedish or Norwegian Amex application page for the current local offer.
Award Chart Devaluation (Dec 1, 2025): SAS Business Class to Asia/North America increased to 60,000 pts one-way (+20%). Economy unchanged. The 2-for-1 voucher is now even more valuable.
New Transfer Partners: Revolut RevPoints (1:1, Nov 2025) and Rove Miles (1:1, Mar 2026) — the first US-based option for EuroBonus.
Betalo: Check service fees and issuer points eligibility separately; card acceptance alone does not mean a payment earns points.
Voucher Rule Changes: Vouchers issued after April 2025 may have updated cabin eligibility restrictions. Always check the latest terms on the Amex site before redeeming.

SAS Credit Card Explorer

Choose a card to explore:

SAS Amex Premium

Fee: 150 kr/month (≈1,800 kr/year)

Earning Rate: 15 points per 100 kr

Key Perk: Worldwide 2-for-1 Voucher

Country-by-Country at a Glance

Sweden

SAS Amex Cards
SAS Mastercard
SAS Lunar Debit

Norway

SAS Amex Cards
SAS Mastercard
SAS Lunar Debit

Denmark

SAS Amex Not Available
SAS Mastercard
SAS Lunar Debit

How SAS EuroBonus Credit Cards Work (Earn Points on Every Purchase)

A SAS EuroBonus card turns your spending into travel. The concept is simple:

You Spend: Use the card for daily purchases like groceries, gas, or online shopping.
You Earn: For every 100 kr spent, you automatically earn a set number of EuroBonus points.
You Fly: Use those points to book award flights on SAS and SkyTeam partners such as KLM, Air France, and Delta.

Eligible card spending can build your points balance without flying. Some cards also offer travel vouchers and Level Points toward status.

Official SAS EuroBonus credit cards landing page.

The Three Card Types: Amex vs. Mastercard vs. Lunar

SAS partners with three providers. Each plays a specific role.

American Express

Mastercard

Visa

Current Welcome Bonuses (2026)
Card	Bonus	Requirements	Eligibility Notes
SAS Amex Classic	5,000 pts	Half at 7 months, half at 13 months of active card use	New Amex customers only; card must be active when bonuses post
SAS Amex Premium	5,000 pts (Swedish standard offer)	Half at 7 months, half at 13 months of active card use	New Amex customers only; card must be active when bonuses post
SAS Amex Elite	Varies by country	Current standard or invitation offer shown during application	The 45,000-point invitation campaign ended May 4, 2026; check local Amex terms
SAS Mastercard World	3,000 pts	Make 3 purchases within 30 days of approval	Haven’t held a SAS EuroBonus Mastercard in the last 2 years; points post within 3 months; card must be active
SAS Mastercard Premium	10,000 pts	Make 3 purchases within 30 days of approval	Haven’t held a SAS EuroBonus Mastercard Premium in the last 2 years; points post within 3 months; card must be active
SAS Lunar Debit	3,000 pts	Open after 17 Jun 2024, receive card within 14 days, and spend ≥ 15,000 kr within 3 months	New Lunar customers only

Swedish Amex Premium offer checked September 21, 2026; other offers last checked July 2026. Bonuses and eligibility differ by market and application channel; confirm on the local issuer site before applying.

1. SAS American Express: The Points Powerhouse (Sweden & Norway)

Amex offers 2-for-1 vouchers, whose value depends on the trips you can book and the spending required to earn them. It’s the specialist card for maximizing points.

SAS American Express cards (Sweden & Norway): fees, earning, perks, and best use
Card	Annual Fee	Points per 100 kr	Level Points	Key Benefit	Best For
SAS Amex Classic	Free	10	-	European 2-for-1 voucher (at 100k spend)	Light spenders
SAS Amex Premium	approx. 1,800 kr/year	15	-	Worldwide Economy/Premium Economy 2-for-1 voucher (at 150k spend)	Most strategic earners
SAS Amex Elite	approx. 6,900 kr/year	20	6 per 100 kr	Two 2-for-1s + Travel Insurance	High spenders / Status chasers

Why the Amex 2-for-1 is a Game-Changer

Once you hit a yearly spending goal, you get a voucher that lets two people fly for the points of one on an award ticket. With the December 2025 award price increase, a Business Class flight to New York now costs 60,000 points one-way — making the 2-for-1 voucher even more valuable. Whether you fly SAS or a SkyTeam partner like KLM, Air France, or Delta, this single perk can save you 60,000–120,000 points per trip. Learn more in our SAS Amex 2-for-1 Voucher Guide 👇

2. SAS Mastercard: The Universal Companion (All Countries)

The SAS Mastercard (issued by SEB in the Nordics) covers many merchants where Amex is not accepted. It can be a backup to an Amex or a primary card, especially in Denmark where it offers the Fly Premium benefit.

SAS Mastercard (SE/NO/DK): annual fees, earning rates, perks, and ideal user profiles
Card	Annual Fee	Points per 100 kr	Key Benefit	Best For
SAS Mastercard World	approx. 455 kr/year	10–20	Universal acceptance, Point-of-the-month bonuses	Backup card / Entry-level
SAS Mastercard Premium	2,335 kr/year in SE/DK; 3,348 NOK/year in NO from Sep. 1, 2026	15–25	Earns Level Points, Fly Premium Benefit	Frequent travelers seeking EuroBonus Gold/Diamond progress via Level Points

The Fly Premium Benefit Explained

The Premium Mastercard lets you book a higher cabin (SAS Plus or SAS Business) for the points price of a lower one (SAS Go). It can be useful when an eligible SAS award is available and you cannot use a 2-for-1 voucher.

Heads-up: Fly Premium applies to SAS-operated flights only, but your everyday spend still helps fund partner trips on KLM/AF/Delta when SAS space is tight. Learn more in our SAS Fly Premium Guide 👇

3. SAS Lunar: The Simple Debit Option (All Countries)

For those who prefer debit over credit, the Lunar card is a straightforward alternative. It’s linked to a digital bank account, requires no credit check, and makes earning points simple.

SAS Lunar Debit (SE/NO/DK): fees, earning, and who it fits best
Card	Monthly Fee	Points per 100 kr	Key Benefit	Best For
SAS Lunar Debit	approx. 49 kr/month	8	No credit check, digital banking	Credit-averse users

4. EuroBonus Everyday: Earn on Every Purchase

You can also earn through EuroBonus Everyday. This program lets you link your existing regular payment cards (Visa, Mastercard, or Amex from any bank) to your EuroBonus account.

Once linked, you automatically earn points when you shop at participating stores, restaurants, and online partners, with earning rates from 20 up to 250 points per 100 kr spent.

New in 2026: Transfer Partners

EuroBonus now has two external transfer partners, opening new ways to top up your balance:

Revolut RevPoints (launched November 2025): Transfer at a 1:1 ratio with no minimum. An option if you already earn RevPoints and want to use them for a EuroBonus booking.
Rove Miles (launched March 2026): The first and only US-based transfer partner for EuroBonus, also at a 1:1 ratio. Rove integrates live SAS award searches, so you can check availability before transferring.

How It Works: A 3-Step Process

Connect Any Payment Card: Link your preferred Visa, Mastercard, or Amex in the EuroBonus Everyday portal. This takes less than a minute. Crucially, you must also link your SAS-branded Amex or Mastercard here to earn these extra points.
Shop & Eat at Partners: Find participating partners through the SAS App or the EuroBonus website. When you’re ready to pay, simply use your linked card as you normally would.
Earn Points Automatically: Your points are automatically registered at the time of purchase and added to your EuroBonus account, converting your everyday spending into future award trips.

Pro Tip: The Double-Dip Strategy

If you pay with a linked SAS EuroBonus Amex or Mastercard, you earn points in two ways on the same purchase:

The standard points from your card spend (e.g., 15-25 points per 100 kr).
The bonus points from the EuroBonus Everyday partner (e.g., 100 points per 100 kr).

This “double-dip” earns card points and partner points on the same eligible purchase.

EuroBonus Everyday program allows linking any payment card to earn points at partner stores.

SAS Executive Card: The Business Card and Current Welcome Offer

The SAS Executive Card is SAS’s first own business-card program, announced on May 27, 2026 and now rolling out to customers. The first boarding groups are onboarding, and physical cards have started shipping. Bankaktiebolaget Nordiska is the legal credit issuer, and Cardlay provides the expense platform. This Mastercard World Elite serves eligible businesses in Sweden, Norway, and Denmark. Its points benefits are:

20,000 Bonus Points as the current public welcome offer, redeemable for award travel and other rewards.
25 Bonus Points per 100 SEK, NOK, or DKK of eligible business spending, the highest flat base earning rate in the EuroBonus card lineup.
20,000 Level Points each year, enough for EuroBonus Silver when credited within a qualification period. These are separate from the welcome Bonus Points.

Annual Business Card Status Benefit

20,000 annual Level Points meet the EuroBonus Silver requirement

SAS Business Executive: 20,000 Level Points every year

The benefit requires an eligible cardholder and a linked EuroBonus account. Confirm when the Level Points will arrive; the 20,000 welcome Bonus Points do not count toward status.

The fee is 7,188 SEK or NOK, or 5,988 DKK per card per year, billed annually in advance. The advertised 599 SEK/NOK or 499 DKK per month is a monthly equivalent, not monthly billing. Each employee card has its own fee and earns benefits through its cardholder’s linked EuroBonus account. Holding multiple Executive cards does not multiply one person’s points entitlement.

The early access offer of 25,000 extra Level Points expired on September 20, 2026. Eligible cards that completed onboarding by then could receive 45,000 Level Points in year one, enough for Gold if credited within the same qualification period. The new 20,000 Bonus Points welcome offer is for redemptions and does not provide that status boost. The official Executive Card page has the current application route.

Lounge access includes 10 SAS Lounge vouchers and five complimentary Priority Pass visits per year. These are separate card benefits, with annual limits; Silver status itself does not provide year-round lounge access.

Strategy: Executive + Amex Elite Toward Gold

🥇 The “Gold Without Flying” Stack: Executive + Amex Elite

The Executive Card provides 20,000 annual Level Points. In Sweden and Norway, combining this benefit with a SAS Amex Elite, which earns 6 Level Points per 100 SEK or NOK of eligible personal spending, can reach EuroBonus Gold (45,000 Level Points) without flying. All points must count within the same qualification period. The example excludes the expired early access bonus and the current welcome Bonus Points:

Source	Level Points / Year
Executive Card (annual benefit)	20,000
Amex Elite at 300,000 kr personal spend (×6 / 100 kr)	18,000
Subtotal from cards alone	38,000
Additional Amex Elite spend: 116,667 kr (×6 / 100 kr)	7,000
Total from cards	45,000 → Gold

The combo also lets you keep the Amex Elite’s two 2-for-1 vouchers (which the Executive doesn’t replicate). Executive handles business spend at 25 pts/100 kr; Amex Elite covers personal spend and earns the vouchers + Level Points. Compare the benefits you will use with the combined annual fees.

A few quick distinctions vs. the consumer cards:

Business spend, not personal. The Executive is a business product. Use it for company expenses (not your weekly groceries), then keep a personal Amex Elite or Premium for the 2-for-1 voucher and personal spend.
No 2-for-1 voucher. The Executive doesn’t earn one. If you want Business Class redemptions for two at half the points, you still need an Amex Elite (or a pre-April 2025 Premium voucher).
Points and tax. Points go to the individual cardholder. A dedicated business card does not remove potential tax obligations when employer-funded rewards are used privately. The company needs a clear points policy and appropriate local tax advice.

Our full SAS Executive Card guide covers the current welcome offer, business eligibility, annual fees, lounge limits, insurance, and the application process.

Eligibility & How to Apply

Before applying, make sure you qualify:

Residency & age: Cards are issued per country (SE/NO/DK) to residents aged 18+.
Credit vs debit: Amex/Mastercard are credit products (require credit check and income). Lunar is debit (no revolving credit).
EuroBonus number: Required during application so points post correctly.

How to apply (2 minutes):

Pick your card on the issuer site (Amex Nordics for Amex; SEB for SAS Mastercard; Lunar for debit).
Complete ID, income, and address verification.
Add your EuroBonus number.
On approval, activate and verify it’s linked in your card/app.

Earning Math & Break-Even ROI

Earning Math (2026): EuroBonus Points vs Annual Card Spend (~0.10 kr/pt)
Annual Card Spend	Base Points Earned	Approx. Value	Typical Bonus	Net Takeaway
Amex Classic: 100,000 SEK/year	~10,000 pts	~1,000 kr	—	Entry tier: low fee cards can already be net-positive.
Amex Premium: 150,000 SEK/year	~22,500 pts	~2,250 kr	1× 2-for-1 voucher (Amex Premium)	Premium voucher covers Economy and Premium Economy.
Amex Elite: 300,000 SEK/year	~60,000 pts	~6,000 kr	2× 2-for-1 (Amex Elite)	Power band: premium cabins + status acceleration.
Elite: 300,000 SEK + Premium: 150,000 SEK	82,500 pts	8,250 SEK	3× 2-for-1 (Elite + Premium combo)	Compare usable voucher value with both annual fees.
Swedish examples use 10 pts/100 SEK on Classic, 15 on Premium, and 20 on Elite, before fees and welcome offers. Real value varies by redemption (e.g., premium cabins with 2-for-1 or Fly Premium can exceed 0.10 kr/pt).

Optimization Tip

If you’re within ~10–15k kr of a voucher threshold, consider bill-pay services like Bill Kill (our partner — Master customers get 2 months of AwardFares Gold free) or Betalo (check current fees and your issuer’s points eligibility). Only do it when fees stay below your target value per point.

We use ~0.10 SEK per point as an illustrative value, before fees. With 2-for-1 or Fly Premium on premium cabins, real value can be much higher.

100,000 kr spend: ~10,000 pts (~1,000 kr value). Low-fee cards already net positive.
150,000 SEK on Amex Premium: 22,500 pts (~2,250 SEK at the assumed value) + one 2-for-1 voucher for eligible Economy or Premium Economy bookings.
300,000 kr spend: ~60,000 pts (~6,000 kr) + two 2-for-1 vouchers (Amex Elite). Pair with Mastercard Premium for extra Level Points and Fly Premium value.

Reality Check

Value depends on the booking. Compare the cash fare you would otherwise pay with the points required plus taxes and fees; vouchers do not guarantee a particular return.

Which SAS EuroBonus Card Is Best For You? (Sweden, Norway & Denmark Comparison)

The right card depends on two things: where you live and how much you spend annually.

For Residents of Sweden & Norway

Using Amex alongside Mastercard can make sense if the benefits justify both fees.

Casual Spender (Under 100,000 kr/year)

Just getting started with points

Recommended: SAS Amex Classic (Free)

Avoid fees while still earning points. The free Amex Classic helps you earn a European 2-for-1 voucher. Use Mastercard where Amex isn't accepted.

Strategic Earner (150,000–300,000 kr/year)

Best value for most frequent travelers

Recommended: SAS Amex Premium + SAS Mastercard World

The Amex Premium's annual fee pays for itself through the worldwide 2-for-1 voucher. The Mastercard covers acceptance gaps.

High Spender / Status Chaser (Over 300,000 kr/year)

Maximum points and elite status benefits

Recommended: SAS Amex Elite + SAS Mastercard Premium

If you’re targeting EuroBonus Gold or EuroBonus Diamond, the Elite + Mastercard Premium combo accelerates qualification via **Level Points** while unlocking premium-cabin redemptions through multiple 2-for-1 vouchers.

Norway Only: Eligible DNB Customer

An additional status route for existing SAGA or Private Banking customers

Compare: DNB Mastercard Upgrade

Mastercard Upgrade can provide 10,000, 20,000, or 30,000 Level Points after passing its annual spending thresholds. It costs 169 NOK per month and only makes sense if you already qualify for the required DNB banking relationship.

For Residents of Denmark

Compare Mastercard Premium’s extra fee with the Fly Premium benefits you expect to use.

Casual Spender (Under 150,000 kr/year)

Simple points earning

Recommended: SAS Mastercard World

Low-cost entry to earning EuroBonus points on every purchase. Ideal for newcomers.

Serious Traveler (Over 150,000 kr/year)

Premium benefits for frequent flyers

Recommended: SAS Mastercard Premium

Denmark's best SAS card. The Fly Premium benefit and Level Points justify the fee for anyone who flies regularly.

If you’re still undecided, SAS also provides an official ‘Card Matcher’ tool on their website for Sweden and Norway to help guide your choice.

The Winning Strategy: Using Two Cards for Maximum Points

In Sweden and Norway, a dual-card strategy can cover purchases where Amex is not accepted while keeping eligible spending on Amex toward its voucher threshold.

Primary Card: SAS Amex Premium — use it wherever accepted to reach 150,000 kr spend for the 2-for-1.
Secondary Card: SAS Mastercard World — use it for merchants not accepting Amex or for travel abroad.

Tip: Always pay balances in full monthly. Interest wipes out all point value.

The Short Answer: Limited options exist, but strategic workarounds help.

What You CAN Do:

Household Bookings: Use your points to book tickets for family members
Couples Strategy: Each person gets their own card to maximize earning
Child Accounts: Kids 2+ can have their own EuroBonus accounts
Family pooling: Pool points from multiple family accounts (not for status).

Advanced Strategy: The Multi-Amex Card Approach for Maximum Benefits

This advanced strategy is for high-spenders who want to maximize their 2-for-1 voucher potential. American Express allows you to have multiple Amex cards in Sweden and Norway. The Elite and Premium combination below requires separate spending thresholds and annual fees.

The Cards:

SAS Amex Elite
SAS Amex Premium

The Math:

SAS Amex Elite: Two vouchers at 150,000 kr and 300,000 kr spend
SAS Amex Premium: One voucher at 150,000 kr spend
Total: Three vouchers for 450,000 kr total spend across both cards

Important Voucher Distinction

Critical 2026 Update: Not All Vouchers Are Equal

The vouchers from Elite and Premium cards have different redemption rules:

Elite Vouchers (2x): Valid for eligible Business Class awards, subject to voucher terms and availability
Premium Voucher (1x): Restricted to Economy and Premium Economy only

Important: Check the Amex voucher terms for your country and voucher issue date. Taxes and fees remain payable.

The Downsides to Consider

Annual Fees Stack Up: SAS Amex Elite (6,900 kr) + SAS Amex Premium (1,800 kr) = 8,700 kr/year in fees
No Welcome Bonuses: You typically won’t qualify for new member welcome bonuses on additional Amex cards
Spending Management: You need to track spending thresholds across multiple cards
Credit Impact: Multiple applications may affect your credit score

Is This Strategy Right For You?

Consider the multi-card approach if:

Your normal eligible spending reaches 450,000 kr across Elite and Premium
You regularly redeem points for premium cabin international travel
The value of extra vouchers outweighs the additional annual fees
You’re organized enough to manage multiple cards and spending thresholds

Stick with a single card if:

Your annual spending is under 200,000 kr
You primarily redeem for economy class flights
You prefer simplicity over maximizing every possible benefit
The additional fees don’t justify the extra voucher value

When the Math Works

Pro Calculation: Compare the 8,700 SEK combined Swedish annual fee with the trips you can book using all three vouchers. Premium’s voucher covers Economy and Premium Economy; do not value it as a Business Class discount.

Pro Moves to Boost Spend (and Earn More Points)

Use these only if fees < expected point value or you’re close to a 2-for-1/Fly Premium threshold.

Bill Kill (NO/SE) — AwardFares partner: Convert bank transfers to card transactions. Bill Kill now also offers Bill Kill +Biz for business invoices in Norway with Amex support. Earns Zen points on top (Bill Kill’s own loyalty program), which can offset the service fee. Master Bill Kill customers also get 2 months of AwardFares Gold free through our partnership. Watch-outs: Fees/caps vary by transaction type.
Betalo: An alternative bill-pay service. Check its current fees and supported cards, then confirm points eligibility with your issuer. Service acceptance does not establish that a SAS Mastercard payment earns points.
Billo (DK): Pay bills by card. Watch-outs: Fees and limits change periodically.

Rule of thumb

If fees exceed 0.10 kr per point, skip it. But small fees can be worth it if they trigger a high-value voucher.

Bill Kill: Pay bills with your credit card in Norway and Sweden and get extra EuroBonus Points (AwardFares partner)

Betalo: Pay bills with your credit card in Sweden and get extra EuroBonus Points

Common Pitfalls to Avoid

Missing your 2-for-1 deadline: Spend thresholds reset annually: track via the Amex app.
Assuming Amex works everywhere: Always carry a Mastercard backup.
Not linking EuroBonus: Ensure your number is added during application.
Letting points expire: Points expire after 5 years, redeem strategically.
Ignoring foreign transaction fees: Mastercard often wins for international use.

Your Next Steps

You now have a clear framework to make your choice.

Sweden/Norway: Amex Premium + Mastercard World = top combo.
Denmark: Mastercard Premium = best all-rounder.
Debit users: Lunar = simplest way to start earning.

Final call to action to choose a SAS credit card and start earning EuroBonus points.

Our guides have all the information you need to become a pro at exploring the world on points. Here are some related posts you might enjoy.

Frequently Asked Questions

Your Questions Answered

What is the new SAS Executive Card?

The SAS Executive Card is a Mastercard World Elite business card for eligible companies in Sweden, Norway, and Denmark, issued by Nordiska. It earns 25 Bonus Points per 100 SEK/NOK/DKK and provides 20,000 Level Points annually. The public welcome offer adds 20,000 Bonus Points for redemptions. The annual fee is 7,188 SEK or NOK, or 5,988 DKK per card, billed in advance. The first groups are onboarding, and cards are shipping.

Does the Executive welcome offer count toward status?

No. The current 20,000 Bonus Points welcome offer is redeemable currency. The card’s separate 20,000 annual Level Points count toward status. The earlier 25,000 extra Level Points offer expired September 20, 2026. Its 45,000-Level-Point first-year total should not be used for new applications.

Can I get EuroBonus Gold without flying using the Executive + Amex Elite combo?

Yes, for eligible cardholders in Sweden and Norway. The Executive Card contributes 20,000 annual Level Points. Add a SAS Amex Elite at 300,000 kr personal spend and you earn another 18,000 Level Points (at 6 Level Points per 100 kr). That is 38,000, leaving only 7,000 for Gold. Another 116,667 SEK or NOK of Amex Elite spend reaches the 45,000 Level Points needed for Gold, provided all points count within the same qualification period. The welcome Bonus Points do not increase this total. The Mastercard Premium, ChangeMakers, hotels, or an eligible Level Point purchase can reduce that Amex spend further; see our complete no-flight status analysis.

Does the SAS Executive Card replace the Amex Elite?

No. Some eligible business owners may find it worthwhile to hold both, provided they can use the separate benefits and justify both fees. The Executive is a business card with a high flat earning rate and 20,000 annual Level Points, but it does not earn the 2-for-1 voucher that makes the Amex Elite valuable for Business Class redemptions for two. Run company spend through the Executive; keep the Amex Elite for personal spend, the vouchers, and the Level Points stack toward Gold.

Is the SAS Amex Elite worth the fee?

With the January 2026 fee increase to 6,900 kr/year, the bar is higher. If you’re aiming for EuroBonus Gold/Diamond and redeeming long-haul premium cabins, the Elite’s 6 Level Points per 100 kr plus two 2-for-1 vouchers can still justify the cost; otherwise, Amex Premium at 1,800 kr/year often delivers better ROI.

I live in Denmark. Am I missing out without Amex?

Not necessarily. The SAS Mastercard Premium’s Fly Premium and Level Points can deliver strong value if you fly SAS often, but earning Gold from Danish personal-card spend alone requires substantially more spending than the Amex routes available in Sweden and Norway.

When should I choose the Lunar debit card?

If you prefer debit, want no credit checks, or have lower annual spend. For maximizing points, credit cards still win.

What is a EuroBonus point actually worth?

Around 0.10 kr/point for standard redemptions—but up to 0.50 kr/point when used with a 2-for-1 or Fly Premium in premium cabins.

How quickly do points post?

Usually within a few days after the statement closes. If not after 30 days, contact your card issuer.

How can I find award seats?

Use AwardFares to search SAS and partners. Set alerts to book the moment seats appear. We surface availability across SAS and key SkyTeam partners (e.g., KLM, Air France, Delta) so you can pivot when one carrier has no space.

What are the current welcome bonuses?

SAS Executive: 20,000 Bonus Points under the public welcome offer. These do not count toward status; the extra Level Points early access offer expired September 20, 2026. See our full guide.
SAS Amex Classic: 5,000 pts (split at 7 & 13 months)
SAS Amex Premium: 5,000 pts on the Swedish standard page, checked September 21, 2026 (split at 7 & 13 months; local and invitation offers can differ)
SAS Amex Elite: varies by country and application channel; the 45,000-point invitation campaign ended May 4, 2026
SAS Mastercard World: 3,000 pts after 3 purchases in 30 days (no SAS MC in last 2 years; points within 3 months; card must be active at posting)
SAS Mastercard Premium: 10,000 pts after 3 purchases in 30 days (no SAS MC Premium in last 2 years; points within 3 months; card must be active at posting)
SAS Lunar Debit: 3,000 pts (new Lunar customers; card received within 14 days; spend 15,000 kr within 3 months)

Terms change—always confirm on the issuer page before applying.

Can I hold multiple SAS Amex cards at the same time?

Yes, American Express allows you to hold multiple cards in Sweden and Norway. This advanced strategy lets high-spenders earn multiple 2-for-1 vouchers, though you’ll pay multiple annual fees.

What's the difference between Elite and Premium vouchers in 2026?

Elite vouchers cover eligible Business Class awards, while Premium vouchers are restricted to Economy and Premium Economy. Check the terms for your country and voucher issue date; taxes and fees remain payable.

Do SAS cards charge foreign transaction fees?

SAS Amex and SAS Mastercard products generally add a foreign-exchange markup when a purchase is converted into your card’s billing currency. The exact rate varies by product and market, so check the issuer’s current price list before using the card abroad.

Is it worth paying 8,700 kr/year for multiple cards?

Only if your normal spending reaches the separate thresholds and the vouchers you can use justify the combined fees. Premium’s voucher cannot be valued as a Business Class discount.

Has the EuroBonus award chart changed recently?

Yes. SAS increased award prices effective December 1, 2025, primarily affecting Business Class and Premium Economy on long-haul routes. SAS Business to Asia/North America went from 50,000 to 60,000 points one-way. Economy prices remain unchanged. This makes the 2-for-1 voucher even more valuable.

Methodology & Sources

All fees, earning rates, voucher rules, and availability were rechecked on issuer pages (SAS, American Express, SEB/Mastercard, Lunar, DNB) in July 2026. Amex fees reflect the January 29, 2026 increases, and the Norwegian Mastercard Premium price reflects the announced September 1, 2026 change. Executive Card offer, fees, and benefit details were updated on September 21, 2026. Terms change, always confirm on the issuer site before applying.

Our Commitment to Accuracy

The July review was supplemented with selected Swedish Amex, Mastercard, and Betalo checks on September 21, 2026; this was not a full recheck of all three markets. The status-related details and main card fees in this guide were last verified against official sources on July 16, 2026. We use the following primary sources:

SAS: Official EuroBonus Credit Cards Page
American Express: Official SAS Amex Cards Page
Mastercard (SEB): Official SAS EuroBonus Mastercard Page (issuer: SEB Kort).
Lunar: Official SAS Lunar Card Page
DNB: Official Mastercard Upgrade Page

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