list of Banks in Nigeria that offer credit cards

Banking & Finance

Would you like to experience a new world of exclusive, individualized privileges? seamlessly with exceptional service and personalized privileges of a credit card to borrow funds for the purpose of paying for goods and services at merchants who accept credit cards?

A credit card transaction involves a number of processes. When you swipe your credit card to make a purchase, the merchant’s card terminal contacts your credit card issuer to verify the card’s validity and credit limit. The cardholders repay the borrowed funds, plus any applicable interest, as well as any other agreed-upon charges, in full or in installments by the billing date.

This article is intended to provide a list of banks in Nigeria that offer credit cards, as well as information about credit card eligibility and documentation requirements, credit card limits, and credit card types.

What Is the Definition of a Credit Card?

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This is a credit card issued by a financial institution, most commonly a bank, that enables the cardholder to borrow money from that institution.

Cardholders agree to repay the money with interest at the rate specified by the institution.

It comes pre-loaded with a bank-approved credit limit for purchases (POS, ATM withdrawal, ecommerce etc). The purchase made with your credit card must be repaid later at the frequency agreed upon with the card issuer at the time of issuance. The majority of credit card usage earns you reward points and contributes to the development of your credit profile.

Read: What is the difference between a line of credit, a loan, and home equity?

Is a credit card synonymous with a debit/ATM card?

A credit card is not the same as a debit or ATM card.

A Credit Card is pre-funded with an approved credit limit and enables you to make payments and withdraw cash from ATMs; however, a Debit/ATM card enables you to make payments and withdraw cash from ATMs by debiting funds directly from your bank account.

What is the credit limit on my credit card?

Your credit card limit is the maximum amount that can be charged to your card. This credit limit has been pre-approved based on your income and an acceptable credit bureau report.

List of Nigerian banks that offer credit cards

Bank Standard Chartered

With a Standard Chartered credit card, you can borrow money to make purchases in-store or online and then repay the borrowed funds, plus any applicable interest, within a specified time period.

When you apply for a credit card, you can earn rewards and also benefit from a higher credit limit.

Standard Chartered Bank offers two distinct types of credit cards.

Bank Standard Chartered Visa Gold Credit Card: earn 5% cashback on dining purchases and is accepted at 23 million merchant locations and online globally. Your Gold credit card is issued in Nigerian naira. Payments are made in your local currency at branches via cash or check.

Each month, you must pay no more than 1% of your total spend or 5,000*(outstanding balance) plus any (interest, fees, charges, and over-limit amount), whichever is greater.

Additionally, what is the distinction between a credit card and a debit card?

Eligibility for Application Standard Chartered bank Visa Platinum Credit Card

Nigerians

1.Age: Between 21 and 65 years
2. Credit limit minimum of 30,000; credit limit maximum of 749,999
3. Minimum salary of 30,000 dollars for corporate and government employees

Nigerians & Non-Nigerians

1. Age: Between 21 and 65 years
2. Credit limit minimum of 30,000; credit limit maximum of 749,999
3. Minimum salary of 30,000 dollars for corporate and government employees

2. Bank of Standard Chartered Visa Platinum Credit Card: Earn 5% cashback on dining, and the card is accepted at 23 million merchant locations and online globally. Your Platinum credit card is issued in Nigerian naira. Payments are made in your local currency at branches via cash or check.

Each month, you can pay as little as 1% of your total spend or 5,000*(unpaid balance) plus any (interest, fees, charges, and over-limit amount), whichever is greater.

Application Eligibility for Nigerian Residents and Non-Nigerians

Residents of Nigeria

1.You must have an account with Standard Chartered Bank Nigeria for your salary.
2.You must possess a favorable credit bureau history.
3.Minimum salary of 30,000 dollars for corporate and government employees
4. Age restriction: Must be over the age of 21

Residents who are not Nigerians

1.You must have an account with Standard Chartered Bank Nigeria for your salary.
2. You must have a favorable credit history with the credit bureaus.
3.Minimum salary of 30,000 dollars for corporate and government employees
4.Minimum age requirement: Must be over the age of 21

How to apply for and be approved for a capital one credit card

2. Credit card issued by First City Monument Bank

With the FCMB Visa Credit Card, you can live freely. Pay for anything, at any time and from any location. The credit card charges a monthly interest rate of 3%.

FCMB offers both a “CLASSIC” and a “GOLD” credit card. The “CLASSIC” credit card is available to civil servants, engineers, and bank employees, among others. The “GOLD” credit card is available to oil workers, multinational corporations, and business owners, among others.

The FCMB Visa Credit Card has the following features:

Credit Card FCMB CLASSIC

1.There is no fee for the initial card issuance.
2.After the card’s expiration date, it will be automatically renewed.
3.Able to spend in any currency in the world and settle in Naira
4.Maximum credit limit of N999,999.99
5. NO FEE FOR ONLINE TRANSACTIONS

Credit card FCMB Gold

1.There is no fee for the initial card issuance.
2.After the card’s expiration date, it will be automatically renewed.
3.Able to spend in any currency in the world and settle in Naira
4.Maximum credit limit of N3,500,000
5.There is NO fee for online transactions.

Benefitss“CLASSIC”

1.Courtesy Service
2.Insurance for Travel Accidents
3.24 hr customer support
4.Cash Advance in an Emergency
5.Emergency replacement of a temporary identification card

“GOLD”
1.Courtesy Service
2.Insurance for Travel Accidents
3.24 hr customer support
4.Cash Advance in an Emergency
5.Emergency replacement of a temporary identification card
6.15 percent discount on Hotel Club rates
When traveling abroad, medical and legal services are available seven days a week.

Additionally, read: Chase Credit Card: How to Apply and Receive Fast Approval

3. Credit card from First Bank

With First bank credit card, you can choose the card that’s right for you and earn a variety of attractive rewards. The bank offers a variety of credit cards to its customers, including Visa Infinite, Naira Credit Card, Visa Gold, and VISA Gold Cash Back Campaign.

. FirstBank Infinite Visa

This is the most expensive card in the Visa range of products aimed at the bank’s top 1% to 5% of customers. Additionally, it provides access to the finer things in life regardless of the cardholder’s location through an extraordinary selection of unique travel, dining, shopping, and lifestyle opportunities.

Who Is My Market?

1. Owners/Chief Executive Officers of organizations and conglomerates that meet the minimum eligibility criteria
2.Individuals with a High Net Worth
3.Individuals with an extremely high net worth

Is there a daily limit on the use of the First Bank Visa Infinite card?

1.Cash withdrawals from ATMs – $1,000 (five times in total)
2.Purchases (POS) – $25,000 (20 times in total)
3.Internet purchases – $25,000 (total frequency – five times)

. FirstBank Credit Card in Nigerian Naira (NCC)

This is a global credit card that offers an evolving credit line and up to 45 days of interest-free borrowing on unused funds.

It is accepted for payment at more than 29 million locations and cash withdrawals at more than 1.8 million ATMs in more than 200 countries and territories worldwide.

.Visa Gold Card from FirstBank
This is a premium international credit card offered in collaboration with Visa International.
It is a card issued in the United States of America and protected by chip and PIN technology.

The initial bank Cash Back Campaign for VISA Gold

You can now earn cash back on purchases made with your Visa Gold Credit Card if you haven’t used it in the last six months.

4. Credit card issued by UBA

With the UBA Credit Card, life has become even more rewarding. You can now take advantage of seamless transaction opportunities and access to a variety of other services. Your UBA Credit Card will take care of everything. Currently available in Nigeria.

You can apply for the UBA Naira credit card if you have had a UBA salary account for a minimum of three months.

5. Credit card from Zenith Bank

Zenith Bank offers a variety of credit cards in the Classic, Gold, and Platinum categories to suit your lifestyle needs and enable you to manage your payments conveniently.

. Zenith bank Credit Classic:

This type of credit card is ideal for those seeking the convenience, flexibility, and global acceptance that credit cards provide. Additionally, you receive the enhanced security that comes standard with each Zenith Visa or MasterCard Credit Card.

Credit card Zenith Gold

This results in increased spending power and is intended to provide you with genuine peace of mind and make life easier. Apart from increased spending limits, Zenith Bank Gold Cardholders receive a suite of benefits designed to make life easier and more enjoyable. These benefits include special discounts, offers, and promotions designed to enhance and add priceless moments to everyday experiences.

.Zenith Bank Platinum MasterCard

This is the ideal credit card for individuals who lead busy and fulfilling lives, as it provides the flexibility and support necessary to transform everyday occurrences into priceless and memorable moments.

6.Gtbank Credit Cards in Dollars

This provides you with the opportunity to enter a world of new possibilities through the use of gtbank Dollar Credit Cards. GTBank offers two credit cards: the GTBank Visa Classic Credit Card and the GTBank Standard Credit MasterCard, both of which are issued in US Dollars but can be used to make purchases in other major currencies as well. It offers greater versatility than the Debit MasterCard option.

Additionally, Gtbank offers the World MasterCard, which has been carefully designed to empower its holders by providing privileged access, memorable experiences, and peace of mind.

The GTBank World MasterCard is a premium dollar card that offers exclusive benefits and preferential treatment, allowing World MasterCard holders to take advantage of the card’s best features while traveling the world.

7. Credit card from Stanbic IBTC Bank

Stanbic IBTC Bank provides secure funds access as well as a variety of travel, shopping, dining, and lifestyle opportunities through the following credit cards:

1.Visa Infinite Credit Card in US Dollars
2.Credit Card Visa Infinite Naira
3.Dollar Corporate Credit Card
4.Visa Platinum Credit Card in US Dollars
5.Visa Platinum Credit Card in Nigerian Naira
6.Visa Naira Gold Credit Card
Visa Silver Nigerian Naira Credit Card
8.Credit Card Visa Gold Dollar

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