The 23-year-old central defender joined Rangers from Vitoria Setubal in the summer of 2017 and was brought to Ibrox by then manager Pedro Caixinha.
Last month, Portuguese news outlet A Bola credited Estoril Praia with interest in the former Benfica prospect.
The Scottish Sun reported earlier this month that Rangers are looking to offload Cardoso in the January transfer window.
The Portuguese defender, though, has made it clear that he does not plan to leave Graeme Murty’s side anytime soon.
Cardoso told The Scottish Sun: I don’t want to give up. I could give up and try to find another team. But playing for Rangers is going to help me a lot in my career.
“I’m learning a lot here, even when I’m not playing. This is the right place for me to develop as a footballer, as a person and to be successful. If the manager wants me here, I want to stay.”
Rangers are third in the Scottish Premiership table at the moment with 40 points from 22 matches.
The Glasgow giants are only three points behind second-placed Aberdeen and are very much in the running for the runners-up spot.