As Americans grapple with $1.23 trillion in credit card balances, Klarna Group is introducing a new way to access premium rewards—one that doesn’t require a credit card at all.

The Swedish fintech company launched its Premium ($19.99/month) and Max ($44.99/month) membership tiers in the United States on Thursday, expanding upon its existing Core and Plus offerings and mirroring successful rollouts in the UK and EU.

The move positions Klarna squarely in the territory long dominated by high-end credit cards like the Amex Platinum and Chase Sapphire Reserve, but with none of the spending thresholds, APRs, or annual fees that usually define that segment.

The timing is strategic: Americans, especially affluent Americans, are increasingly walking away from traditional credit cards and leaning

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