List of 14 Best Credit Card Companies In Nigeria

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By Oloruntoba Racheal

Acquiring the right credit card can help you accomplish some of your financial goals. In other words, you should acquire one from credit card companies in Nigeria. Having the best credit card will help provide access to complete a payment, make a transaction, save, or get a loan. Not just that, but it will also provide other benefits that will be helpful for your business operations.

There’s no doubt that you have been hearing about various types of credit card companies in Nigeria, and you may be planning to get one for yourself. But deciding on the best one can be tricky because they all come with different features and advantages. However, Here is an opportunity to decide on the credit card that suits you and your business. 

In this article, we’ll be talking about the best credit card companies in Nigeria. But first, let us have an understanding of what credit cards are.

What Are Credit Cards?

Credit cards are cards issued by banks or financial services company that allows you to take a loan, make a transaction, and complete payment. Credit cards are plastic cards that are connected to your bank accounts.

Credit cards will enable you to Buy things on credit and protects you against credit card fraud because the bank will give you access to collect as much credit as you want for a minimum time frame. There is one of the tools to ensure a cashless policy in the Nigerian economy.

Read more: on some digital banks in Nigeria

The purpose of a credit card is to provide you with a way to pay for purchases without carrying cash around. Think of it as a card that provides funds, credit, and security.

credit card companies in Nigeria
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Are Credit Cards Working In Nigeria? 

Yes! Credit cards work in Nigeria. Although, the user rate of credit cards in Nigeria is relatively low. And it is not commonly used as another means of payment. Several credit card companies in Nigeria can be issued to you when you request it.

Credit cards do work in Nigeria. However, they’re not very common. Out of the 137 ranking countries that use credit cards, Nigeria ranks 124th. 

Furthermore, Even though it is not very common, A lot of people are still using them. 

There are different kinds of credit cards in Nigeria: Debit Cards, Visa, and MasterCard. Although credit cards and debit cards look alike in Nigeria, but they don’t serve the same purpose and there is certain things that differentiate them.

Customer has to fund their bank account to make use of a debit card, while with credit cards customer pays for transactions made at the end of the month.

14 Best Credit Card Companies In Nigeria

Here is a list of the best credit card companies in Nigeria:

1. Access Bank PLC:

Access Bank is one of the leading banks in Nigeria that gives Credit cards. And it is one of the best credit card companies in Nigeria. Credit cards allow you to gain access to many advantages so you can achieve your financial goals and plan your future.

Their cards come in:

• Credit cards – Visa

• Debit cards – Visa, MasterCard, Verve

• Prepaid Cards – Visa, MasterCard, and verve.

Access bank Credit card process Fees and benefits:

• if you are a cardholder, you will have access to a 10% minimum payment 

• it has Easy Activation 

• you must be a salary earner of N20,000 and above 

• 45-day interest-free period 

2. Citibank Nigeria Limited:

Citibank is one of the oldest banks in Nigeria that offers satiable services to its customers. 

These services include accounts, investments, insurance, cards, credits, and savings. It is also one of the best credit card companies in Nigeria.

Cards offered by Citibank are:

• credit card, and,

• MasterCard 

Citibank Card process and benefits:

• Citi will take about 7 working days to process your credit card application 

• Annual fee: $0

• Late fee: $30

• Credit Limit: $500 to $2,000 (depending on your card type)

• up to 5% Reward Rate

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3. EcoBank:

EcoBank also Called EcoBank Transnational Inc, is a multinational bank that gives access to investment banking, Transaction banking, and retail banking. The EcoBank allows individuals to get loans. And it is one of the best credit card companies in Nigeria.

EcoBank cards come in

• Debit card

• Credit card

• Prepaid card

• Visa card

• MasterCard 

Credit card process and benefits:

• BVN is needed

• Earn interest on your savings

• credit limit: N1,000,000 daily 

4. Fidelity Classic Credit:

Fidelity Bank is one of the largest licensed commercial banks in Nigeria that offers Retail banking, Investment banking, private banking, and corporate banking. Also, fidelity classic credit is one of the top best credit card companies in Nigeria.

Credit card process and benefits 

• Credit Limit: N4 million 

• No Issuance Fee

• International Acceptance 

• Up to 45 interest-free days

Their cards come in

• Visa Classic cards

• Visa Infinite cards

• Platinum cards

Best Credit Card Companies In Nigeria

5. First Bank Nigeria:

First Bank credit card is an international credit card that allows you to have access to a rewards program, everyday purchases, and an extended warranty. The first bank is one of the top best credit card companies in Nigeria. The first bank offers customers 3 types of credit cards. They are:

  • Visa Infinite 

    The first bank visa infinite can be used for international website purchases. With visa infinite, you get access to emergency card replacement and guaranteed transactions. 

    To use the credit card easily, you need a credit limit of $15,000 minimum, Annual maintenance of $20, card replacement: of $3, and a billing cycle of 30 days.
  • Naira Credit Card

    With the first bank Naira credit card, you get access to a free online account management tool and an interest-free period of 45 days. To use the credit card easily, you need a Credit limit of N3,000,000, an Interest rate of 2.5% monthly, and Annual maintenance of $600.
  • Visa Gold 

    With first bank Visa Gold you get access to card protection (for activating and deactivating cards for all transaction types). The credit card process requires Annual maintenance of $20.

6. Guaranty Trust Bank:

GTBank is a multinational financial services institution that offers one of the best Credit cards in Nigeria, they provide people, companies, and institutions with Quick Credit and access to get a loan anytime. 

how-to get GTbank credit card may require you visiting their office.

However, with the Guaranty trust Bank credit card, you will have access to Unlimited Withdrawals, a Free Corporate Card and checkbook, and a Minimum operating balance of N500,000.00.

The Card is Valid for 3 Years

GTBank is one of the top best credit card companies in Nigeria, and their card comes in: Naira Debit cards, Dollar Debit Cards, Prepaid Card, and Dollar Credit Card in Nigeria.

7. Kuda bank of Nigeria:

Kuda is one of the best Fintech banks in Nigeria, that allows you to send, invest, and save your money, by you choosing an amount to save, and they help you with the rest. It is also offers free Nigerian credit card.

Kuda bank offers free card maintenance, and this bank allows you to monitor your account with no charges, and you will get up to 10% annual interest. It also allows you to save whenever you want 

Their cards come in

• Virtual card 

• Kuda Visa card 

8. Polaris Bank Limited:

Polaris Bank is one of the top commercial banks in Nigeria that provides access to corporate, retail, SME, and investment banking services. The Polaris Credit card offers you a card that is acceptable globally.

Also, Polaris bank is one of the best credit card companies in Nigeria. It has a credit limit of N3 million. And International Limit of $430,000 – $1000 monthly. It provides you with financial flexibility, and it is valid for 3-years.

Polaris Card type includes:

• Credit cards – Naira Credit cards, USD credit cards 

• Debit Cards – MasterCard Naira Debit Card, MasterCard Gold USD Debit card

• Prepaid – MasterCard Prepaid( can be used locally & internationally) Verve prepaid, and Visa USD prepaid.

9. Stanbic IBTC Bank:

The Stanbic IBTC Credit Card is intended to provide you with cash any time and anywhere you need it. It provides access to 24 hours contact center support and Online protection for your web transactions verified by Visa. Stanbic IBTC bank is one of the best classic credit card companies in Nigeria. 

Credit card process fees and benefits include: 

• Late Payment Fee: N2,000

• Insurance Fee: N1,075

• credit limit: ATM Withdrawal (N400,000) POS Transaction (N4,000,000) Web Purchases (N1,600,000) 

Stanbic bank Card types

• Credit cards 

• MasterCard 

• Prepaid card.

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10. Standard Chartered Nigeria:

Standard Chartered credit cards provide you with interest-free credit for up to a maximum of 50 days and other benefits. It is one of the best credit cards companies in Nigeria.

Standard Chartered Credit Card offers you 2 different types of credit cards, They Include:

• Visa Gold Credit Card

As a Visa Credit card owner, With Visa Gold Credit card you get access to Purchase Protection Cover, discounts, and other benefits. It has a Credit limit of N30,000

• Salary: N75,000 for corporate organization employee

• For government employees: N50,000

• Visa Platinum Credit Card;

To own a visa platinum credit card you must acquire your salary account with Standard Chartered Bank.

Credit card Process

• Salary: N75,000 for corporate organization employee

• For Government Employees: N50,000

11. UBA:

UBA is an international credit card that offers you better access to withdraw cash whenever you need it. This bank is one of the top best credit card companies in Nigeria, and it offers POS and online payments, Purchase protection, Extended warranty, and Cash withdrawal from ATMs.

Also, it has a credit limit of N3 million, and Customers aged between 18 to 57 years are eligible to enjoy 45 days of interest-free credit, and discounts, with an interest rate of 2.5% monthly.

Their cards come in

• UBA Debit MasterCard 

• UBA Gold MasterCard

• Gold MasterCard Debit Card For Domiciliary Account 

• UBA Visa Classic Debit Card

• Visa Dual Currency (DCDC) debit card 

• Verve Debit card

•UBA World MasterCard 

• UBA Platinum MasterCard.

12. Wema Bank credit card:

Wema Bank credit card is an exclusive card security platform used globally. These Wema credit cards allow you to make payments anywhere in the world (it allows local and international cash withdrawals). 

Wema bank is one of the best credit card companies in Nigeria. 

Credit card process fees and benefits include:

• Annual fee: N200.00

• Reissue Fee: N1,075.00

• provides great security 

Wema Bank card comes in:

• Credit card

• Debit cards

• Prepaid 

13. 03 Capital Nigeria Limited:

03 Capital Nigeria Limited is a financial service institution that gives access to customer loans, credit cards, fund management, and gift cards. 

03 capital Nigeria Limited is one of the best credit card companies in Nigeria. It is mainly for salary earners and businesses, and it has a credit limit of N1,500,000

03 capital Nigeria Limited offers 3 types of cards, they include:

• Classic card

• Platinum card

• Prestige credit card 

14. Zenith Bank: 

Zenith Bank credit card provides customers with access to Everyday purchases and transactions. It is one of the best credit card companies in Nigeria. 

This bank allows international ATM withdrawals and online payments.

Benefits 

• Earn interest at 1.15%

• Internet banking 

• regular purchases on POS, ATM, and Web

Their card comes in

• verve Debit cards

• Credit cards

• prepaid cards, and,

• Visa direct card

Conclusion

Nigeria is reported to have low use of credit cards, and there are varieties of reasons why it is in that regard. However, several credit card companies in Nigeria can help you in the long run. And we hope our list of the best credit card companies in Nigeria is helpful to your search.

Questions people often ask 

Can I use a credit card in Nigeria?

Yes. You can use a credit card in Nigeria.

Where can I use a credit card in Nigeria?

Credit card is not available in every part of Nigeria. However, you can use your credit card in Hotels, resorts, or restaurants.

Can I apply for credit cards online in Nigeria?

No. You cannot apply for credit cards online in Nigeria. To apply, you must visit the bank and follow the necessary steps.

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