Banks and Financial Institutions Offering Credit Cards in Nigeria

Banks and Financial Institutions Offering Credit Cards in Nigeria

How to get a credit card in Nigeria

In today’s fast-paced world, credit cards have become an essential financial tool, providing convenience and flexibility to individuals and businesses. Nigeria, with its thriving economy, offers a wide range of options when it comes to credit cards. This article will explore various banks and financial institutions that provide credit cards in Nigeria, giving you valuable insights and information to make informed decisions. Let’s dive right in! 

Nigeria’s Leading Financial Institutions with Credit Card Services

A credit card is important for convenience, building credit history, improving credit scores, earning rewards, and benefiting from consumer protection features. Still, responsible use is essential to avoid financial difficulties. Let’s go over the top financial institutions offering credit cards in Nigeria.

1) Standard Chartered Bank

Standard Chartered Bank offers various credit cards with different features and benefits, such as cashback on purchases, rewards points, and access to exclusive privileges. The types of credit cards and their unique features include

a) Visa Gold Credit Card 

  • Enjoy up to 5 supplementary cards for your loved ones 
  • Accepted by 23M merchant points and online globally 
  • Earn 5% cash back on dining 
  • Application eligibility: Min. credit limit ₦30,000, Max credit limit ₦749,999, and a minimum salary of ₦30,000 for corporate organization employees and government employees. 

b) Visa Platinum Credit Card 

  • Enjoy up to 5 supplementary cards for your loved ones 
  • Accepted by 23M merchant points and online globally 
  • Earn 5% cash back on dining 
  • Application eligibility: Min. credit limit ₦750,000; Max credit limit ₦7.2m and a minimum salary of ₦30,000 for corporate organization employees and government employees 

2) First Bank  

With First Bank’s credit card, you enjoy various attractive rewards. The types of credit cards and their unique features include 

a) Visa Infinite  

  • Default credit limit: $15,000 minimum (unless the prospective cardholder requests a higher limit) 
  • Maximum facility tenor of 36 months 
  • Billing cycle of 30 days 
  • Collateral: 120% of credit limit on USD, GBP, or EURO Fixed Deposit Account in the bank, with a lien placed on it throughout the tenor of the card 
  • Minimum operating Balance of $100 

b) Naira Credit Card 

  • The NCC has a maximum credit limit of N3,000,000 
  • The card is denominated in Naira 
  • The interest rate is 2.5% monthly, only on the utilized amount and not the total facility amount. 
  • There is an initial interest-free period of up to 45 days 
  • Transactions with the card can easily be monitored via the card services feature on FirstMobile, with 24-hour access to support. 

c) Visa Gold  

  • Daily spend limit on ATM ($1,000), POS ($10,000), and WEB ($5,000) anywhere in the world with your Visa Gold card. 
  • Access to international emergency services with your Visa Gold card, i.e., emergency Card Replacement & emergency Cash Advance in situations where your card gets lost or damaged. 
  • International credit card capabilities. 
  • Card Protection to activate or deactivate cards for all types of transactions, using the Card-in-Control Service on FirstMobile or the USSD *894# – Quick Banking-Card management. 

3) GTBank  

The GTBank Visa Credit card is a globally accepted payment card issued in collaboration with Visa International and directly connected to your account. It is denominated in US Dollars but can be utilized for transactions in various primary currencies. Any transactions made with this card are immediately reflected in your account. 

Features 

  • 24-hour access to funds from about 2.1 million Visa ATMs worldwide. 
  • Pay for goods and services at millions of Visa locations worldwide (hotels, supermarkets, etc.) in over 210 countries and across other channels like the Internet. 
  • The GTBank Visa Credit Card can be issued at a minimum of N1,000 
  • The card employs Chip and PIN technology to guard against unauthorized transactions. 
  • The card is valid for 3 years. 

4) Union Bank  

Union Bank credit cards provide comprehensive coverage, allowing you to fulfill immediate financial obligations and purchases without impacting your cash flow. Seize command of your finances and enjoy convenient access to funds whenever necessary. 

Features  

  • Your credit card is valid for 3 years  
  • Enjoy flexible repayment options with a 30-day billing cycle. 
  • Interest-free period of up to 45 days 
  • Cash withdrawals from ATMs (local and international) 
  • Access to concierge services 
  • Access to airport lounges around the world 
  • Global emergency assistance 
  • Multi-trip travel insurance 

5) UBA  

The UBA Credit Card offers a credit limit of up to N3 million and provides the option to pay 0% interest when repaid within 45 days. 

Features  

  • Experience the benefit of up to 45 days of interest-free credit. 
  • Obtain a credit limit of up to N3 million for your convenience. 
  • Enjoy the flexibility of monthly repayment options as low as 10%. 
  • Gain access to incredible discounts at partner restaurants, hotels, and lounges worldwide. 
  • Conveniently withdraw cash from ATMs or make local and international payments on terminals. 
  • Seamlessly handle online bill payments, hotel reservations, car rental services, and online shopping. 

6) Stanbic IBTC  

With Stanbic IBTC credit cards, you can save up to 55 days on interest-free purchases, enjoy exciting special offers for cardholders, get cash from any ATM worldwide, and easily repay with Stanbic IBTC internet banking. They have different types of credit cards, and they include: 

a) Visa Silver Naira Credit Card 

  • It gives you access to a revolving line of credit to pay for goods and services 
  • Accessible via POS and web (Local transactions only) 
  • Up to 55 days of interest-free purchases 
  • Denominated in Naira and linked to a Naira account for repayment 
  • Chip and PIN enabled for optimal security 
  • Online protection for your web transactions with Verified by Visa® 
  • 3-year card validity 
  • Exciting offers and discounts when you spend locally. 
  • You can make repayments easily with Stanbic IBTC Internet banking 

b) Visa Gold Dollar Credit Card

  • It gives you access to a revolving line of credit to pay for goods and services 
  • Accessible via POS and web (Local transactions only) 
  • Up to 55 days of interest-free purchases 
  • Denominated in Naira and linked to a Naira account for repayment 
  • Chip and PIN enabled for optimal security 
  • Online protection for your web transactions with Verified by Visa® 
  • 3-year card validity 
  • Exciting offers and discounts when you spend locally 
  • You can make repayments easily with Stanbic IBTC Internet banking 

c) Visa Platinum Naira/USD Credit Card 

  • Accessible via POS and web.  
  • Up to 55 days of interest-free purchases 
  • Denominated in NGN and linked to an NGN account for repayment 
  • Chip and PIN enabled for optimal security 
  • Online protection for your web transactions with Verified by Visa® 
  • 3-year card validity 
  • Free medical and legal referral during international travels 
  • Exciting offers and discounts when you spend locally 

d) Visa Infinite Naira/USD Credit Card 

  • A revolving line of credit to pay for goods and services and get access to cash 
  • Accessible via POS and web (Local transactions only) 
  • Up to 55 days of interest-free purchases 
  • Denominated in Naira and linked to a Naira account for repayment 
  • Chip and PIN enabled for optimal security 
  • Online protection for your web transactions with Verified by Visa® 
  • 3-year card validity 
  • Free medical and legal referral during international travels 
  • Exciting offers and discounts when you spend locally 
  • 24-hour contact center support 

7) Access Bank  

Access Bank offers a range of credit cards designed to provide convenient payment options and various benefits to its customers. They have different types of credit cards, and they include: 

a) Naira Credit Card  

  • Accepted at over 2 million ATMs and 30 million merchant locations across over 220 countries globally 
  • Interest-free period of up to 40 days 
  • Verified By Visa (VbyV) additional security for online transactions 
  • Up to 50% of the net monthly salary can be availed as credit limit. 
  • No collateral is required for salaried employees 
  • Minimum monthly repayment of 15% of the outstanding balance 

b) USD Credit Cards 

  • Accepted at 2 million ATMs and 30 million merchant locations across over 220 countries globally 
  • Interest-free period of up to 40 days 
  • Minimum monthly repayment of 15% of the outstanding balance 
  • Available in Gold, Platinum, and Infinite variants. 
  • Issued as a secured or unsecured credit card 
  • Verified By Visa (VbyV) additional security for online transactions 
  • Pay for domestic spends in Naira and international spends in US Dollars 

c) Access Bank American Express® Gold Card

d) Metal Platinum® Card from American Express

8) Zenith Bank  

Whether everyday purchases on POS, WEB, or ATM or indulging in prestige and recognition, Zenith Bank’s credit card offerings empower you to manage your payments while conveniently fulfilling your unique needs. They have different types of credit cards, and they include: 

a) Classic Credit Cards 

  • Available in Naira and Dollar denominations 
  • Available in MasterCard and Visa 
  • Worldwide acceptance: for Internet shopping, cash withdrawals at ATMs, and payments at POS Terminals 
  • Cardholder inquiry service 
  • Gold card discounts  
  • Zero lost card liability 
  • Up to 45 days interest-free for POS transactions 

b) Gold Credit Cards  

  • 24hrs access to MasterCard global service 
  • Insurance and travel assistance (MasterCard Only) 
  • Legal and medical referral services 
  • Lost/stolen reporting 
  • Emergency Card replacement 
  •  & disbursement 
  • Gold card discounts on services. 
  • Available in Naira and Dollar denominations 
  • Access to more than 800 of the world’s exclusive airport lounges in 415 cities 
  •  & worldwide Acceptance 
  • Available in MasterCard and Visa 

c) Platinum Credit Cards  

  • Gold card benefits 
  • Purchase protection & extended warranty 
  • Access to more than 800 of the world’s exclusive airport lounges in 415 cities across the world 
  • Platinum card discounts on services + gold card discounts 
  • Available in Naira and Dollar denominations 
  • Worldwide Acceptance 
  • Available in MasterCard and Visa 
  • Supplementary Cards for Family members 

9) Sterling Bank 

Sterling Bank presents credit card options that grant cardholders access to a revolving line of credit catering to their financial requirements. Their credit cards come in different variants (classic, platinum, gold, black), and their features include: 

Features 

  • Easy access to a revolving line of credit 
  • Naira denomination 
  • Flexible repayment option 
  • Worldwide acceptance wherever the Visa logo is displayed 
  • Up to 45 days of interest-free period 
  • Shop and make online payments worldwide 
  • 3-year card validity 
  • Exiting offers and discounts

10) Fidelity Bank  

Fidelity Bank provides a variety of Naira and Dollar credit cards that offer the flexibility to make purchases immediately and settle the payments later. 

a) Visa Classic  

  • Delivery within one week 
  • No Issuance Fee 
  • International Acceptance 
  • Discount Offers at various Merchants around the world 
  • Up to 45 Interest-Free Days 
  • Flexible Repayments of Amount Spent. 
  • Low-Interest rates of 2.5% monthly. 

b) Visa Infinite  

  • Complimentary access to exclusive airport amenities and services, including lounges, restaurants, retail discounts, private Wi-Fi network, and airport transportation service in over 140 countries and 450+ international airports. 
  • Access to Visa luxury hotel collection. 
  • Access to digital services and online medical services when abroad. 
  • Access to auto rental insurance. 
  • Purchase protection and extended Warranty. 

c) Platinum 

  • Access to a suite of exclusive airport amenities and services, including lounges, restaurant, and retail discounts, private Wi-Fi network, and airport transportation service in over 140 countries and 450+ international airports  
  • Access to digital services and online medical services when abroad. 
  • Access to auto rental insurance 
  • Purchase protection and extended warranty 

Rounding up  

Whether it’s convenience, rewards, security, or financial flexibility, Nigeria’s top 10 banks and financial services have proven their ability to meet the evolving demands of the modern consumer. As Nigeria’s financial sector continues to evolve, we can expect these institutions to enhance their offerings further and drive the nation’s economy toward a more prosperous future.

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