If you’re trying to find banks in Nigeria that offers credit card, then there are some things you should know about Credit cards in the Nigerian financial system. Read on to find out which bank offers credit cards in Nigeria, plus some other information. First of all, what exactly are credit cards? While credit cards are easy to understand in principle (you borrow money from your bank or card company), they can be confusing when it comes to how they work and how much they cost you.
What is a Credit Card ?
A credit card, also known as a bank card or plastic card, is a payment card issued to users or cardholders to enable the cardholder to pay a merchant for goods and services based on the holder’s promise to the card issuer to pay them for the amounts so paid plus the other agreed charges. Some banks in Nigeria have started offering Credit card to allow their consumers buy goods and pay for services based on the security of their creditworthiness rather than the security of the money being used. Each of these banks have different requirements for obtaining a credit card, but most require the applicant to have a good credit history. Applying for a credit card is easy and can be done online or in person at the bank.
Why get a Credit Card in Nigeria?
A credit card can be a useful economic tool for in Nigeria if you manage it responsibly. With a credit card, you can make purchases and pay for them over time. You can also use a credit card to build your credit history, which can help you get approved for loans in the future. A credit card is different from a debit card because you’re borrowing money from the bank when you charge something on your credit card. If you don’t have enough money in your account to cover what you’ve charged, then the bank will lend it to you and charge interest on that loan until you pay off the balance on your statement date. It’s important to keep track of how much money is owed on your credit cards each month so that they don’t become overwhelming.
List of Banks in Nigeria that offer Credit Cards
If you’re looking for a credit card in Nigeria, your best bet is to go with a bank that offers credit cards to Nigerians. Below are some of the commercial banks that offer credit cards in Nigeria and they are First Bank of Nigeria, Standard Chartered Bank, Zenith Bank, Gtbank, UBA and Stanbic IBTC.
Stanbic IBTC Credit Card
The Stanbic IBTC Credit Card is a Naira denominated card that offers you the opportunity to shop online and offline in over 24 million locations worldwide. You also get up to 55 days interest free on purchases, and access to our 24/7 customer care. Plus, with no annual fee ever and 0% FX fees when you use your card abroad, this may be just what you need.
GTBank Visa Credit Card
GTBank offers a Dollar denominated Visa credit card that gives cardholders the ability to make purchases anywhere in the world where Visa is accepted. The card also comes with a number of benefits, including cash back on all purchases, 24/7 customer service, and no annual fee. As well as these features, the GTBank Visa credit card offers great valuable perks for customers who travel abroad often.
Zenith Bank Credit Cards
Zenith Bank is one of the leading banks in Nigeria that offers credit cards in Nigeria. The bank has a wide range of credit cards with different features and benefits that suit the needs of every customer. With a Zenith Bank credit card, you can enjoy convenient and secure shopping, online transactions, and cashless payments. The company also offers rewards on your purchases. You can choose from various card types including platinum, gold, silver and business to find the right fit for your lifestyle. You can apply for a credit card through their website or contact them at any branch nearest to you.
Standard Chartered Nigeria Credit Card
The Standard Chartered Credit Card is one of the most popular credit cards in Nigeria. It offers a wide range of benefits including cash back, discounts, and rewards. Plus, it has a low interest rate and no annual fee. If you’re looking for an easy way to save money with your everyday purchases, this card might be the right choice for you. You can apply for Standard Chartered Credit Card online or through the bank’s 24-hour phone banking service.
UBA Naira credit card
The UBA Naira credit card is a great option for those looking to get a credit card in Nigeria. It offers a wide range of benefits including cash back, discounts, and rewards. Plus, it has a low interest rate and no annual fee. The only downside is that it requires a good credit score to qualify. If you don’t have one yet, then this might not be the best choice for you.
First Bank credit card
First Bank’s credit card is one of the most popular in Nigeria. First Bank’s Visa Infinte, Visa Gold and Naira Credit Cards offers a wide range of features and benefits, including cash back, points for every purchase, and a low interest rate. Plus, there’s no annual fee. You’ll also receive many rewards. One of the best things about First Bank’s credit card is that it can be used as an ATM card to withdraw money from any ATM around the world with a fee of 3%.
How do I apply for a Credit Card in Nigeria?
You can apply for a credit card from these banks in Nigeria by visiting the bank’s website and filling out an online application. You will need to provide your personal information, such as your name, address, and date of birth. You will also need to provide financial information, such as your income and debts. Once you have submitted your application, the bank will review it and decide whether or not to approve you for a credit card.
Where can I Pay with my New Credit Card?
You can use the credit card obtained in Nigeria to make purchases anywhere that accepts Mastercard or Visa. In Nigeria and abroad. These banks in Nigeria does is to have an agreement with one of the international credit card companies. These agreements provide a way for consumers to make payments using their credit card system by inputting their personal identification number. If you’re unsure if a merchant accepts MasterCard or Visa, then it’s best to ask before trying to pay. Note that some merchants abroad may not accept certain types of credit cards because they do not have agreements with these types of companies.