Credit card


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Posted by on Wednesday August 1, 2012 14:6:10:

A credit card is a card that carries an electronic chip, issued by banks or other financial houses that allows one access to funds.

Most Nigerian banks now do offer credit cards and they are a sort of loan facility available to customers who bank with them. With a credit card, you can have access to cash you really need, when you need it and repay later on.

How to get a credit card in Nigeria
It doesn't take much to get a credit card in Nigeria, as all you need is making an application, providing a valid means of identification and having a guarantee that you can repay your credit when due.

Types of credit card in Nigeria
- Naira credit card
- Foreign currency credit card
- Dual currency credit card

Brands of credit card in Nigeria
- Visa
- Mastercard

They are mostly plastic cards branded by Visa international and can be used worldwide mostly and works in conjunction with banks in Nigeria

Fees associated with credit cards
The credit card your bank issues you do some with some fees such as the following:
- Transaction fee
- Monthly maintenance fee
- Service fee
- Interest on late repayment

Who can own a credit card?
Employees with a salary account, Sole proprietors with regular income, people with fixed investment and so on. Anyone really who has a guaranteed source of income can be able to get a credit card from his bank.


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