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Posted by Isa on September 20, 2010 at 10:55:49:

What really is a Nigerian Credit card? It is an electronic bard issued by a Nigerian bank that allows the user access to credit. In Nigeria, this is already in use with the launch of visa and Mastercard branded credit cards. They are unlike the prepaid debit cards which are cash backed. A Nigerian credit card gives you access to credit but you will have to be making a monthly or periodic payment to service your loan. Different cards carry different credit limits and you can use this as another way of applying for a loan from a bank rather than the usual loan application or overdrafts.
Most of these types of credit cards are denominated in Naira and while it serves as an ATM card, it also gives access to approved soft loans given to you by the bank. Working individuals and bank customers who keep a healthy bank account are encouraged to apply for these kind of cards as it allows you to make payments and settle bills especially when you don't readily have cash at hand. The Nigerian credit card is truly one of a kind and you should get used to it

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