How to Obtain and Use a Credit Card in Nigeria

credit cards

Credit cards offer the unique advantage of convenient cashless payment in addition to the availability of instant cash in advance for any purchases you need to make while on the move. In this article, we consider the credit card options that are available in Nigeria and how you can own a credit card today.

Is Credit Card Available in Nigeria?

Although they are not so popularly used, credit cards are available in Nigeria, but until recently, they were majorly accessed through special requests from your bank. However, O3 Cards has introduced the first non-bank credit card in Nigeria that is focused on making credit cards and advance funds accessible to more customers in Nigeria.

How does a Credit Card Work?

A credit card is a payment card that gives you access to cash advances within a set limit which you can spend only through the card. With every purchase, the sum is deducted from your credit card balance. For example, if your credit card limit is ₦50,000 and you make a purchase of ₦10,000, your credit card balance remains ₦40,000.

However, the funds available in your credit card can be replenished over and over as long as you pay back a minimum amount within set dates.

Just like regular loans, not paying your full statement balance by its due date can accrue interests and may affect your credit score limiting how much funds you can access through your card. On the other hand, prompt payment is rewarded by an expansion of your credit card limit.

Which Credit Cards Options in Nigeria Can I Choose From?

Most credit cards are offered by specific banks to their customers, but the good news is O3 credit cards is for everyone. O3 Cards’ unique advantages over bank-issued credit cards make it a preferred choice for Nigerians. O3 Cards relieves you from bank restrictions; you can operate any bank account in Nigeria and still have access to an O3 Credit Card. Also, with a regular minimum repayment of just 10% of your credit limit, you can keep on using your credit card without running out of funds or without the need for a new approval. O3 Cards also gives you exclusive discounts and fantastic deals with merchants in Nigeria.

How do I Get a Credit Card in Nigeria?

Credit card application is easy. The first step is to check your eligibility for a Credit card, next is to fill an application form which will be reviewed by the issued. And upon approval, your card will be delivered to you. To be eligible for an O3 Credit Card, you must be:

  • Between 21 – 55 years of age

  • Resident in Nigeria

  • A salary earner with at least a gross monthly salary of ₦200, 000 or an Entrepreneur with a 6 month average turnover of ₦200, 000.

Applying for a credit card with O3 cards is fast and convenient. You apply online and your application is reviewed within 24 hours. If you qualify, your credit card will be delivered via courier to your preferred pick-up location.

O3 Credit Cards – Your Preferred Credit Card in Nigeria

O3 Credit Cards gives you easy access to CREDIT from ₦100,000 to ₦1,500,000, without having to make any equity contribution or pledge any property as collateral. With O3 Credit Card, credit is continuously available to you 24/7. You are only mandated to regularly pay down your minimum outstanding balance which is only 10% of your total credit limit and your full balance will be available for use again without requiring any new approval! O3 Cards are accepted everywhere in Nigeria and are available to you regardless of which bank you operate.

Apply today for an O3 Credit Card and access unlimited financial convenience.

For further information on O3 cards visit the Frequent Asked Questions.


© 2018 O3 Capital Nigeria Limited. 18A Jerry Iriabe Street, Lekki Phase 1, Lagos, Nigeria.
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