Klarna debit card & membership: earn cashback and perks

The buy now, pay later provider has launched its first debit card, alongside paid for tiers with perks.

Though you’d normally associate Klarna with borrowing, it’s beginning to move into everyday banking. The new debit card and membership tiers are aimed to compete with packaged and premium current accounts with cashback, freebies and insurance – though there’s plenty it won’t do right now. Here’s what you need to know.

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What is the Klarna card?

The Klarna card, rolling out from late October 2025, is by itself pretty limited. In fact the only thing worth pointing out is that its fee-free to use abroad – though there are plenty of other options that do this.

It’s a Visa debit card, and you can apply for it via the Klarna app. You’ll get a digital card for free to add to your phone wallet, but if you want a physical card you’ll need one of the paid memberships.

You won’t get an account number or sort code, and there’s no ability to set up things like standing orders and direct debits. It’s basically just for spending, though eventually Klarna wants to offer these extras and go for a full banking licence.

There are two ways to use the card. You can top up your Klarna account with funds, and spend as you would with any debit card. This is the default way to pay.

You’ll manage deposits and monitor spending via ‘Klarna balance’, which is an e-money account. There’s also the option to set up auto-top ups, moving money from your connected account when the balance drops below zero.

It’s worth noting that money held in your account won’t be protected by the Financial Services Compensation Scheme (FSCS), though Klarna do need to have their own protections in place.

Or you can also apply for the classic Klarna buy now, pay later service to pay over three months for free, or longer with interest added. At launch you can only do this before spending, but soon you’ll be able to converted already completed debit card purchases.

As with any Klarna BNPL option, this way to pay will require affordability checks, with full regulation and enforced credit checks coming in late 2026.

What are Klara memberships?

There are four upgrades to the Klarna card – Core, Plus, Premium and Max. Each come with a monthly fee, but in return you can get access to things like cashback, subscriptions, an eSim and more.

Klarna Core

You don’t get much here at all. I don’t expect the monthly discounts to be that special or worth paying £23.88 a year to access, but I hope I’ve proved wrong.

• Cost: £4.99 a month 
• Physical and virtual Klarna Card
• Up to £15 in monthly exclusive merchant discounts 

Klarna Plus

A higher fee for Plus gets you cashback and £8 back every three months, though we don’t know where you can use that cash yet.

• Cost: £9.99 a month 
• Physical and virtual Klarna Card
• 0.5% cashback when you pay in full with Klarna balance
• £8 membership discount every three months at partner stores
• Price protection if a price drops in 30 days
• 2 year warranty on purchases
• Up to £80 in monthly exclusive merchant discounts 
• Subscription access
  • ClassPass: 20 credits
  • Epicurious & Bon Appetit
  • Laundryheap: £10 credit per month

Klarna Premium

Klarna claims that all the benefits are worth a staggering £2,000 a year – though you’ll be paying £215.88 a year to get them.

• Cost: £19.99 a month
• 0.5% cashback
• Global travel insurance  
• £8 membership discount every three months at partner stores
• Up to £80 in monthly exclusive merchant discounts 
• 16g metal card (silver or black)
• Subscription access
  • The Times digital
  • Headspace Premium
  • New York Times, Vogue & GQ
  • Clue Plus
  • Blinkist Pro
  • Picsart Pro
  • ClassPass: 10 credits
  • Laundryheap: £10 credit per month

Klarna Max

This one costs a lot more, but according to Klarna is worth £5,000 in benefits over 12 months.

• Cost: £44.99 a month
• 1% cashback
• Comprehensive travel, rental-car, and cancel-for-any-reason insurance 
• £8 membership discount every three months at partner stores
• Up to £80 in monthly exclusive merchant discounts 
• Unlimited airport lounge access worldwide via LoungeKey Pass (1,600+ lounges and travel experiences)
• Exclusive 16g rose gold metal card
• 70% refund on any travel booking you cancel
• Subscription access
  • Audiobooks.com
  • The Times digital
  • New York Times digital
  • Headspace Premium
  • Conde Nast (Vogue, GQ, New Yorker, Wired, Conde Naste Traveller, Bon Appetit and three more titles)
  • Clue Plus
  • Blinkist Pro
  • Picsart Pro
  • ClassPass: 20 credits
  • Laundryheap: £10 credit per month
  • ASMALLWORLD membership discount

How does the £8 credit work?

Though the memberships are still being rolled out, it seems like the £8 credit, which is issued every third month, can be used against any merchant listed in the Klarna app.

As you’d expect, that includes a huge number of big name retailers, so you should be able to use this on everyday spending you were going to make anyway.

If this is the case, the you can knock £2.67 off the above fees. Though that still leaves a hefty amount to justify via the other perks.

The monthly discounts work differently, and will be merchant specific, including Samsung, Selfridges, Boots, New Balance, Ninja Kitchen, JD Sports and Ray-Ban. These will typically be worth between £5 and £10 per retailer. We don’t know yet if there’ll be a minimum spend associated with these.

What is Klarna Price Protection?

One perk that comes with Max and Premium is something called Price Protection. It’s not clear exactly how this will work. All we know is the price is “covered if the price drops in 30 days”. Unlike price matching against other retailers, this sounds like it’ll be to do with where you bought the item.

How does the cashback work?

With the cashback offering, it’s only provided if you use your balance to pay.

Are Klarna memberships worth it?

As with any packaged account, there is the potential to save money. And with the Premium and Max tiers there are a lot of freebies and extras available via Klarna that would cost a lot if paid for separately.

But that’s only going to save you cash if you would normally pay for what’s on offer. And at first glance that’s a tall order for these Klarna memberships.

For a start the 0.5% cashback element can easily be beaten by other reward credit or debit cards on the Plus and Premium tier, and matched for much spending on the 1% Max level, so I don’t see this as a perk you can put against the monthly fees.

The £8 every three months sounds easy to redeem, but it won’t be enough to justify the fees.

The included subscriptions aren’t exactly at the top of everyone’s list, so the chances of you already paying for one of these, let alone more, are quite slim. However, as the box below shows, if you do already actually use a couple then there’s the opportunity to save.

If you need annual worldwide travel insurance, and would normally pay for this, then you can certainly factor this in, but it won’t be enough to justify the full £19 of Premium. And though Max adds in more coverage, I’d still suggest you look at other packaged account first. As ever you’ll want to check what is covered and what isn’t to be sure it meets your needs.

Max offers airport lounge access too, though you can also get that via the American Express Platinum card. That Amex comes in at £650 a year, which is £110 more than Klarna Max, but there are other features, including travel insurance and dining credit which could be better value – especially with the decent welcome offer.

You’ll also be paying for the metal cards with Max and Premium, something I really can’t see the value in. Yes they’re nice, but I’d rather have the cash.

What’s is still a mystery, and we’ll update the article when we know more, are the further discounts at merchants each month.

So overall I’d say hold tight for now, but it’s certainly one to watch.