Hello everyone, hello hive family,how is everyone doing,hope great, this will be my first official post here, I鈥檓 really excited to be doing this,because writing is something I really love.
Today i will be diving deep into the word CREDIT CARD.
Also taking a look at popular questions asked,misconceptions about its use,advantages and disadvantages, join me as we break it down, i still remain 
CREDIT CARD
source
Credit card is a plastic or metal card and just like its name it is in simple terms a card used to pay for items or services using credit, now these allows you spend money on a pre set limit, getting your bill at the end of the month.
This method of transaction is widely popular in western countries, only coming to light in recent years in Nigeria.
This is why a lot of people here in my country don鈥檛 understand it and have many misconceptions, to which i would love to tackle with this article today.
Note: This article will be divided in two episodes
Episode 01: we will answer the 3 major questions asked on credit cards
Episode 02: will answer more questions and misconceptions on credit cards
3 MAJOR POPULAR QUESTIONS ASKED
How do you get a credit card in Nigeria
Can you do cash withdrawal with credit card?
What are the advantages of having a credit card?
MORE QUESTIONS ASKED
What are the disadvantages of having a credit card?
What are the rules of credit card?
What are the interest rate?
What is credit score? e.t.c
.
.
.
.
How Do You Get A Credit Card In Nigeria
Most countries allow application for credit cards online once all requirements are met.
But in Nigeria this isn鈥檛 the case you have to start by knowing the banks which support credit cards in Nigeria, and a few include 馃憞
*Standard IBTC Bank (Standard IBTC Credit Card).
*GTBank (GTBank Visa Credit Card).
*Zenith Bank (Zenith Bank Credit Card).
*UBA (UBA Credit Card) e.t.c
The best way to get one in Nigeria is to visit any of this bank, speak to a bank representative, fill the application form, fulfill all requirements and a valid credit card would be issued to you if all requirements are met, the process takes within 40-50 minutes. Some of the requirements include猬囷笍
*Opening an account with the bank of choice
*Validate your Bank Verification Number
*Specify what account you want linked to the credit card
*You must have a salary account with the bank, this helps your application a long way, most banks want valid customers and a salary account helps them know or gives the prospect of the credit being payed off in due time e.t.c
Once these requirements are met and the card is processed all you have to do is select your desired pin and start using CREDIT.
.
.
.
.
Can You Do Cash Withdrawals With Credit Card
This is a popular question that has popped up in many of my conversations with Nigerians, and the answer is simple, YES!.
Cash withdrawals can be made using credit cards, but this has its limit, which is known as credit card cash limit.
This is the maximum amount of cash one can withdraw using the credit card, most banks allow their customers 25%-40% of the credit card total limit as cash limit, which is really great 馃憤
.
.
.
.
What Are The Advantages Of Having A Credit Card
Credit cards have become widly acceptable due to its numerous benefits which include 猬囷笍
*Credit
source
The benefit of being able to pay for items and services through credit without money in pocket is an amazing idea, that has appled to the minds of individuals especially Nigerians with the rate of things in the country. The help this provides for individuals and Nigerians can never be overemphasized, these is what makes the major benefit of credit card, CREDIT!
*Security: Most people aren鈥檛 aware but the credit card is one of the safest cards to be issued, it is secured with EMV chips, a form of technology designed to limit fraud using computer chips on credit cards
*Easy loan access: We all know the stress involved in getting and securing a loan In Nigerian banks, but as a credit card user, it becomes a whole lot less stressful.
The relationship between the bank and customer grows overtime with credit cards, constant quick repayments of credit can help in the process of gaining trust and the prospect of getting loans from the bank, such as business loan, student loans, health loans, e.t.c. As a credit card user it is easier and less stressful to get loans from the bank.
Conclusion
source
A lof of Nigerians aren鈥檛 aware of the concept of credit card, my goal with this article is to help individuals and the hive family understand exactly what credit cards are all about and clear out any misconceptions on them, i really hope this article has been helpful, let me know down in the comments section if they are any questions you would like me to tackle in the next episode 馃
Thank you all.
| Column1 | Column2 | |
|---|---|---|
| Text | Text | * |
