Details
Written by: RJ
The buy now, pay later service Klarna has a new rewards program:
The U.S. debut offers an alternative to the traditional credit card model. While credit cards have long provided rewards and benefits, they’ve also contributed to roughly $1,000 in household fees in 2024, with total U.S. credit card debt of $1.2 trillion.
Klarna’s memberships deliver premium perks, including airport lounge access, travel insurance, and lifestyle subscriptions, without taking on debt or hitting a spending requirement.
Klarna’s membership program is launched at a time where higher income earners are ditching credit cards in favor of BNPL. 11.2% of adults cancelled a credit card in the past 12 months — and that jumps to 15.1% among people earning $100k+ per year. The same cohort also reports the highest BNPL adoption, with almost 1 in 3 (30%) using it as one of their preferred ways to pay.
Premium
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Cost: $19.99 a month for more than $3,000 in perks and benefits per year
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Subscriptions to any of the following: AudioBooks.com, Blinkist, Care.com, ClassPass, Clue, Condé Nast (Vogue & GQ), Headspace, Laundryheap, The New York Times, Picsart
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1.5% cashback everywhere when using Klarna balance
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Global travel protection
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16g metal card (silver or black)
Max
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Cost: $44.99 a month for more than $5,000 in perks and benefits per year
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Subscriptions to any of the following: ASMALLWORLD, Audiobooks.com, Blinkist, Care.com, ClassPass, Clue, Condé Nast Digital Access , Headspace, Laundryheap, The New York Times
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2% always-on cashback when using Klarna balance
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Comprehensive travel, rental-car, and cancel-for-any-reason protection
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Unlimited airport lounge access worldwide via LoungeKey Pass (1,800+ lounges and travel experiences)
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Exclusive 16g rose gold metal card
Klarna also has transfer partners:
- KLM, British Airways, FINNAIR are 1:0.71
- SAS 1:1.1
- ACCOR 1:0.48
Thoughts
Not great.
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Editorial Note:
Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, vendors or companies, and have not been reviewed, approved, or otherwise endorsed by any of these entities.