What Is the Interest Rate on Credit Cards in Cyprus? (2026)
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Interest rates on Cyprus credit cards are consistently high by Western European standards — typically 17–19% APR. Here is what you need to know.
Current Cyprus Credit Card Interest Rates
| Card | Purchase APR | Cash Advance APR |
|---|---|---|
| Bank of Cyprus Classic | ~17–19% | ~19–21% |
| Alpha Bank Bonus Visa | 17.75% | 19% |
| Eurobank Cyprus | Not published | Not published |
| BOC Aegean Mastercard | ~17–19% | ~19% |
| Bunq | N/A (no debt model) | N/A |
| Revolut | N/A (prepaid) | N/A |
Why Are Cyprus Rates High?
Cyprus credit card APRs are above the EU average (~16%). The small market, limited competition among local banks, and post-2013 conservative lending practices all contribute. Rates have not fallen significantly in recent years.
The Simple Solution: Pay in Full Every Month
Credit card interest rates don’t matter if you pay the full statement balance every month. All Cyprus credit cards offer an interest-free period — typically up to 50 days — if the full balance is paid by the due date.
Use the card. Pay in full. Pay zero interest.
Never Use Credit Cards for Cash Withdrawals
Cash advances on Cyprus credit cards carry:
- Higher APR than purchases (~19–21%)
- No interest-free period — interest charges from day one
- A cash advance fee (typically 3% or minimum ~€3)
Use Revolut or Wise for ATM withdrawals instead.
Bunq and Revolut: No Interest Risk
Fintech options carry no interest risk as they operate on a spend-what-you-have model. For newcomers concerned about managing credit, this is a genuine advantage.
Ready to open your Cyprus bank account?
Revolut is our #1 pick — open in minutes, no branch needed.
