SAS EuroBonus Executive Business Card: Full Guide (2026)

The SAS EuroBonus Business Executive Card has moved from announcement to early access. SAS is now reviewing companies from the waitlist in groups, and the final terms are available. The full public launch is still planned for fall 2026.

The launch offer is strong. Cards that complete onboarding by September 20, 2026 receive an extra 25,000 Level Points. Together with the normal yearly benefit, this gives the cardholder 45,000 Level Points in the first year, the normal threshold for EuroBonus Gold.

We also have the important details that were missing from the first announcement. The fee is charged for each card and billed annually in advance, lounge access has annual limits, the travel insurance has a 50% payment requirement, and each cardholder earns points in their own linked EuroBonus account.

What Has Launched?

SAS announced the Executive Card on May 27, 2026 and opened a waitlist across Sweden, Norway, and Denmark. Early access began at the end of August, before the full fall launch.

This is still a gradual rollout rather than a completely open public launch. SAS is working through waitlist boarding groups 0 to 5 and says it will email each group when it is their turn. People who missed the original waitlist can still join a “last call” group.

The company application must be started and submitted by its CEO or an authorized signatory. Once approved, SAS says a physical Executive Card is automatically ordered for the person who submitted the application. Companies can then order physical cards for employees and coworkers.

The early access page shows boarding groups 0 to 5 and the last call group.

The product itself is a Mastercard World Elite business credit card. SAS owns the program and customer experience, Bankaktiebolaget Nordiska is the regulated creditor and card issuer, and Cardlay supplies the expense management technology behind the app and admin portal.

The Early Access Offer, 45,000 Level Points

The normal Executive Card benefit is 20,000 Level Points each year, which is enough for EuroBonus Silver under the current thresholds. For early access, SAS adds another 25,000 Level Points in year one.

EuroBonus Gold normally requires 45,000 Level Points or 45 qualifying flights during one qualification period. Starting from zero, the first year offer therefore reaches Gold on points alone.

There are two important conditions:

1. The card must complete onboarding by September 20, 2026. Joining the waitlist or merely starting an application is not the stated trigger.
2. The bonus is limited to one redemption per EuroBonus account.

The program terms also say benefit allocation is not tailored to an individual’s EuroBonus qualification period and SAS does not promise to accelerate or move a posting. If your qualification year ends around the launch date, confirm the expected posting date before assuming all 45,000 points will count together.

Our separate post covers the early access offer, boarding groups, and application process.

The main rewards are 25 Bonus Points per 100 kr, 20,000 Level Points each year, and lounge access with annual limits.

Who Can Apply?

Applicants must operate an eligible registered business in Sweden, Norway, or Denmark and pass Nordiska’s credit assessment. SAS currently lists these legal forms:

Only the CEO or an authorized signatory can submit the company application. Employees do not apply for the company credit facility themselves. They are invited as cardholders after the business has completed onboarding.

The general terms explicitly accommodate sole traders, but this remains business credit. The card cannot be used for private consumption, household expenses, or transactions without a business connection.

Companies planning 10 or more cards can ask SAS about volume pricing. Those ordering 25 or more can request a tailored introduction with implementation support, accounting system guidance, and platform setup.

Who Earns the Points?

Each eligible purchase earns 25 EuroBonus Bonus Points per 100 SEK, NOK, or DKK. That remains the highest flat base rate of any EuroBonus payment card.

The final terms answer an important question from the original announcement. Points are earned by the individual cardholder and are not deposited into one central company EuroBonus balance. The cardholder must link the card to their own EuroBonus account during onboarding or in the SAS Card App.

• No points are awarded for purchases made before the card is linked. They are not added later.
• One card at a time can be linked to an individual’s EuroBonus account for Bonus Points, Level Points, and SAS Lounge access.
• A second Executive Card held by the same person will not create a second points or lounge entitlement.
• A person can hold and use a card without joining EuroBonus, but they will not receive the EuroBonus benefits.
• Transaction points are not credited until the company has paid at least the minimum amount due on the relevant invoice.
• If the invoice remains unpaid after the second reminder, the related points are forfeited and will not be reinstated even if the bill is later paid.

SAS may define limits for eligible purchases in the benefit terms. No current cap is shown on the public product page, but the program terms allow SAS to introduce or change one.

Transactions equivalent to cash are prohibited unless Nordiska explicitly allows them. This includes money transfers, travel currency, crypto assets, gambling, lottery purchases, payments to related companies, financing your own business, and purchases where the company or cardholder receives the funds. This card is for purchases from merchants. It cannot be used to turn bank transfers or company invoices into points automatically.

Fees, Interest, and Payment Terms

The advertised monthly price is a monthly equivalent. The actual fee is charged per card for 12 months in advance.

The nominal interest rate is 19.9%, default interest is 24%, and the foreign exchange fee is 1.99% on top of Mastercard’s conversion rate. Cash withdrawals and transactions equivalent to cash are not available.

SAS advertises up to 45 days interest free, depending on when the purchase falls in the billing cycle. Nordiska normally sends one invoice each month, and payment is due 14 days from the invoice date. The minimum payment is generally 5% of the balance, with a minimum of 100 SEK, NOK, or DKK. Interest is charged on the remaining balance when the full invoiced amount is not paid by the due date.

SAS shows the monthly equivalent, but the full fee for 12 months is billed annually in advance for each card.

Lounge Access and Its Limits

The announcement mentioned “SAS Lounge access” and “Priority Pass membership,” but did not explain the visit limits. We now know what is included:

• 10 SAS Lounge vouchers per year, valid at SAS lounges in Copenhagen, Oslo, and Stockholm.
• Priority Pass membership with five complimentary visits per year across the Priority Pass network.
• Additional Priority Pass visits cost 35 USD each.

This is useful, but it is not unlimited lounge access. SAS has not published a free guest allowance on the main benefits page, so do not assume one. Each voucher or visit should be counted for the eligible cardholder unless the detailed lounge terms in the app say otherwise.

The 10 SAS vouchers are a separate card benefit. EuroBonus Silver status by itself does not normally include SAS Lounge access throughout the year.

The Rest of the Travel Benefits

The confirmed package also includes:

• Avis President’s Club status, priority service, rental discounts, and EuroBonus earning on Avis rentals.
• Scandic Friends Level 4 status at minimum, with early check in when available, hotel and meeting room discounts, and up to 25% extra Scandic points.
• 3 GB of eSIM data every month in more than 100 destinations.
• A complimentary NordVPN subscription.
• A tungsten metal Executive Card.
• Priority check in and boarding through the EuroBonus status earned with the card.

The additional benefits include Avis status, travel insurance, mobile data, NordVPN, and Scandic status.

The early access email contains one important detail. Digital cards and mobile wallet support will be introduced later. Apple Pay and Google Pay remain advertised features of the finished product, but early access customers should expect to begin with physical cards.

Travel Insurance: What Activates It?

The travel insurance is underwritten by Zurich. The published Swedish terms say it covers the cardholder and their family on eligible trips of up to 60 days when at least 50% of the total trip is paid with the Executive Card before departure.

The policy includes necessary and reasonable medical expenses, cancellation, transport and baggage delays, missed departure or connection, trip interruption, personal and business property, rental car excess protection, purchase protection, and event cancellation. The policy also describes up to 60 days of private travel connected to a business trip.

Notable Swedish coverage limits include:

Rental car cover has its own payment conditions. The rental must generally be paid with the card as part of the covered trip or paid 100% with the card. Read the policy for exclusions and local terms before relying on it. The table above summarizes the Swedish policy dated August 21, 2026.

Expense Management and the SAS Card App

The Executive Card is also an expense management platform powered by Cardlay. It is more than a metal card connected to EuroBonus.

Cardholders can photograph receipts, add missing expense information, assign cost codes, log mileage, split expenses, and submit them from the app. The “Spencer” assistant reads receipt details, flags missing or mismatched information, and prepares the expense for review.

Cardholders can photograph a receipt, add missing details, and submit the expense from the SAS Card App.

Receipt Review with Spencer

Spencer is the assistant inside the platform. It connects a receipt to the correct expense, fills in the available details, and flags anything that is missing or incorrect. The cardholder reviews the result before submitting it.

Spencer reviews receipts, while the finance team can see all expenses in one place.

Rules and Cost Codes

Companies can create rules for routine expenses. A purchase below a selected amount, or within a selected category, can be approved automatically. Unusual expenses can be sent for review. Employees can also select the correct cost code when submitting an expense.

Automatic approval rules and cost codes can reduce manual work for the finance team.

Controls for Each Card

Administrators can:

• Set limits, country restrictions, and merchant controls by role.
• Freeze or unfreeze cards and update limits in real time.
• See transactions as they happen.
• Assign administrator, card manager, and expense manager roles.
• Create automatic approval rules by amount or category.
• Review expenses by employee, category, or status.
• Export structured data for reconciliation and accounting.

The platform includes card controls, role based rules, mileage, mobile approvals, and split expenses.

The finance team can filter expenses by employee, category, or status. It can also review the full expense history and prepare structured exports for accounting.

The dashboard brings transactions, receipts, comments, and review status into one view.

The public pages mention accounting integrations, but do not yet provide a complete list of supported systems. Companies ordering 25 or more cards can request specific integration guidance during implementation.

The Real Cost for a Team

The most important correction to our May analysis is that 599 SEK, 599 NOK, or 499 DKK is the cost of each card, not the entire company program.

For a Swedish company, before any negotiated volume pricing:

That changes the business case. A founder putting 1.44 million SEK a year through one Executive Card would earn 360,000 Bonus Points for a 7,188 SEK annual fee. A company with 15 employees would pay 107,820 SEK before a volume discount if it issued one card to every employee. Each employee’s eligible purchases would earn points in that employee’s linked EuroBonus account.

The decision is therefore not only, “Does the company spend enough?” It is also, “Which employees travel and spend enough to justify an individual Executive Card?” Ten SAS Lounge vouchers, five Priority Pass visits, 20,000 recurring Level Points, the insurance, and the expense workflow all belong in that calculation for each card.

Business Points and Tax

The final terms are clear. SAS does not monitor how points earned from business expenditure are used. The company is responsible for assessing employee benefit taxation, employer contributions, withholding, reporting, and other disclosure obligations. Individual cardholders are responsible for any personal tax obligations that apply to them.

Using a dedicated business card makes the accounting trail clearer, but it does not automatically remove tax from private use of points funded by the employer. A company should decide in writing whether points belong to the employee, may be used only for business travel, or require reporting when used privately. Ask a local accountant or payroll specialist, since rules and reporting practices differ between Sweden, Norway, and Denmark.

Executive vs. Personal EuroBonus Cards

The Executive is not a direct replacement for every personal SAS card.

The Executive has the best flat earning rate and a fixed number of Level Points. The Amex Elite remains valuable for its 2 for 1 vouchers, while Mastercard Premium has Fly Premium. A business owner may use Executive for eligible company purchases and a personal card for personal purchases. The expenses, accounts, and tax treatment should remain separate.

Should You Apply?

The early access offer is strong for a business owner or an employee who travels frequently, can use the benefits, and works for a company with a clear policy for the points. Receiving enough Level Points for Gold in year one can justify much of the first annual fee before considering the earning rate of 25 points per 100 kr.

The card is less compelling when:

• Several employees with low spending would each need a card at the full price.
• The company expects one central points balance rather than individual accounts.
• Most spending is paid by bank transfer or falls into categories equivalent to cash.
• The cardholder already has Gold or Diamond and will not use the lounge vouchers or other benefits.
• The company cannot complete onboarding before the September 20 early access deadline.

For a company that needs one card and has meaningful purchases from merchants, the value is much easier to justify. For a larger team, request volume pricing and calculate the value for each employee.

How to Apply

We documented the Swedish application process directly. A similar process is expected in Norway and Denmark, but the identity checks, available business types, currencies, questions, and exact wording may be different in each country.

During early access, the Swedish process works as follows:

1. Wait for the email confirming that your boarding group can apply, or join the last call list if you did not register earlier.
2. Have the CEO or an authorized signatory open the Executive Card application.
3. Verify the applicant’s identity with BankID.
4. Enter the company registration number and business email address.
5. Select the requested credit limit, explain how the balance will be repaid, and describe the expected use of the card.
6. Review the information, legal documents, and application summary before submitting it.
7. If approved, sign the agreement. A physical Executive Card is ordered automatically for the applicant.
8. Link the cardholder’s EuroBonus account before using the card. Purchases made before linking do not earn points later.

Our complete application walkthrough shows every step and explains the information requested in Sweden.

Approval, not a waitlist position, determines whether the business receives credit. The early access bonus also requires the card to complete onboarding by September 20.

AwardFares’ Take

The final product is much clearer than it was at the time of the May announcement. The 45,000 Level Points in the first year are excellent, the rate of 25 points per 100 kr is still the strongest flat EuroBonus earning rate, and the expense platform could replace a separate receipt tool for some small businesses.

The limitations matter just as much. The fee applies to each employee card, lounge visits have annual limits, points go to individual cardholders, and private use of rewards funded by the business can create additional tax work. This is a premium card for selected employees who travel and spend regularly. It is not an automatic choice for every employee.

Once the points arrive, the next problem is finding seats worth booking. AwardFares searches SAS and SkyTeam award availability across wide date ranges and can alert you when Business Class seats open. A card earning hundreds of thousands of points is most valuable when the company can actually turn them into the trips it needs.

Official Sources

• SAS Executive Card main page and early access application
• Benefits and lounge limits
• Pricing, credit, and eligible company types
• Expense management platform
• Nordiska general credit and payment terms
• Official price list
• SAS EuroBonus Business Cards program terms
• Swedish travel insurance terms