Dear Reader,Access to credit cards in the country has been a challenge to many honest and hardworking Nigerians. What with the interest most banks charge to obtain one and their very demanding protocols. I bet you must have heard of credit cards being mentioned in seminars, workshops, banks or advertisements.
Some people confuse it for ATM cards, while many just assume it is the GSM recharge cards. Maybe you are one of countless Nigerians seeking for better ways of obtaining a credit card for their businesses both home and abroad.
Do you get stucked on the Internet over a good product or service yet you can't make a purchase because your credit card is required? Maybe you want to download your favourite music,game or pay for further Education abroad.Do you seek smaller units of credit cards for your affiliate programmes or other online transactions instead of the $100 minimum required by banks with a huge $20 interest?
Do you get pissed off when banks tell you to open a domiciliary account with referees and minimum balance before you can obtain a credit card? Do you generally seek information on where to obtain credit cards with ease? Well so did i; until i discovered where and how to obtain genuine and affordable credit cards right here in Nigeria. Now i make my online transactions with ease and in the comfort of my bedroom.
Hello and welcome to my blog dedicated to enlightening fellow Nigerians on the acquisition and use of credit cards. Hopefully in the near future our country will get to the point where credit cards can be used not only for online payments but in petrol stations, supermarkets, air fare bookings, boutiques, stadium, bus fares, eatery joints, recreational centres and even the daily markets.
WHAT IS A CREDIT/DEBIT CARD?This is a plastic card that identifies its owner as one who is entitled to credit when purchasing goods and services. Much like the ATM card in physical properties.
A credit card is a card issued by a bank or business that allows somebody to purchase goods and services and pay for them later, often with interest. It is slightly different from a debit card.
A debit card is one that the holder can use to pay for purchase, the money being transfered directly from the holder's bank account to the seller. For details on how to obtain cheap debit cards today
click here.Credit cards originated in the United States in the 1930s. They are issued by many businesses serving the consumer such as retail stores, chain stores, restaurants, hotel, airline, car rental etc. their use became widespread to Europe and other developed countries. Some credit cards are honoured in a single store while others are general purpose cards.
When a credit card is used, the retailer records the name and account number of the purchaser and the amount of the sale and forwards this record to the credit card billing office. At intervals usually monthly, the billing office sends a statement to the card holder listing all the charged purchases and requesting payment immediately or in installments. The billing office reimburses the retailer directly. The credit card issuing company generates revenue by charging card holders an annual fee and by receiving a small percentage of card purchases from participating businesses.
ADVANTAGES OF CREDIT CARDS OVER CASH/ATM CARDSThe use of credit cards eliminates the need for carrying cash. Of course that comes with a lot of benefits which includes safety and convenience. But do you wonder how that's so different from an ATM card? The automatic teller machines card (ATM) have become popular in Nigeria. An average account holder has one and by God! it has eased up the fear of travelling with bulk cash. You could easily walk to any ATM point in any city and make cash withdrawals with your card as long as you have a credit balance somewhere.
However ATMs are limited in that you still have to get the cash somewhere; not to mention the ever increasing queues that form at such points. Furthermore the machines run out of cash when you need them most or experience technical difficulties with confusing results. With a credit or debit card on the other hand, it is not about getting the cash to make the purchase; you make the purchase with the card. A major advantage of credit/debit card over ATM or cash is that it can be used to purchase items on the Internet. For easy access to debit cards today
click here.WHY DO I NEED A CREDIT/DEBIT CARD IN NIGERIA?You need a credit or debit card to buy and sell on the Internet. Presently there are about 1 billion people with access to the Internet worldwide (and its constantly increasing). This makes it the worlds largest market place.
It is open 24 hours a day, 7 days a week. There are no weekends, no public holidays and no strikes. According to a recent survey, the volume of Internet traffic is expected to double annually over the next five years. Consumers are expected to account for 60% of all Internet traffic over that period with the rest of the market made up of business users. What does that mean for you? It means customers, millions of them. No other business tool can put the products you sell to so many people so easily.
We're talking about a potential market of hundreds of millions of people around the world who can buy your products 365 days a year. If you opened a store in your city,how many people will walk past your window in a month? Let's say you live in Onitsha, maybe a few hundreds; If you live in Lagos, maybe a few thousands. On the Internet there is no limit to the number of people you can bring to your store front where ever you live. That's the power of the Internet. But all these is only made possible if you have access to credit cards. The use of credit cards is the main means by which exchange is made on the Internet.
Basically you need access to credit card to do the following among other things;- Make payments for goods and services on the Internet.
- Advertise your business in search engines ppc services like http://www.google.com/
- Receive payments from customers worldwide into your credit card account.
- Place orders for your goods from suppliers like http://www.ebay.com/
- Pay for check collection service for your affiliate programmes or other online businesses.
- Carry out any programme of interest like online training courses, education abroad, music, movies ,games and various software download.
WHERE TO OBTAIN A CREDIT CARD IN NIGERIACredit card companies like MasterCard and Visa card are operational in Nigeria. Each card is denominated in the US$ with values ranging from $25, $50, $100, $200 and so on. You could obtain them from the following ;
- http://www.fastecash.com/signup.php?cid=treeoflife : This is a Nigerian based company where you can obtain a visa card by paying in naira into their bank account. What to do is visit the site and create a free online account with a user name and password. You will then need to fund your online account with unit codes purchased from the cash deposited in the bank. It is with the codes that you can then pay for your credit card online. The card details will be sent to your email address. The benefit here is that you can obtain cards with lower value like $25, $50. Also you have the option of buying from any of their resellers. However you have to upgrade your free account to premium with #5000 before you can enjoy this benefit. In addition they charge 5% admin fee for every fund deposited in the bank.
- http://www.graphcard.com/ : Born out of concern for those who want to shop online but do not have a credit card. Another Nigerian company. Works in similar manner like fastecash. Note that the graph card is not a credit card in itself, but you can load a visa card with funds from your graph card account. Pin codes could also be purchased from their numerous resellers and merchants via email.
- http://www.e-walet.net/ :This website is owned by Christ Embassy; a Nigerian based religious organization. Among other things they issue cards of smaller units.
- Nigerian Banks : Most banks issue mastercard to customers. But their units are from $100 and above. GTB has one they call webpay. You have to own a domiciliary account with them before they issue one on request. They charge $20 for a $100 card obtained, all of which will be deducted from your dorm account. Zenith issues one called websurfer. They also charge $20 fee for a $100 card.
In my next article i will be discussing on the topics;
HOW TO USE A CREDIT CARD FOR ONLINE PAYMENTHOW TO AVOID CREDIT CARD SCAMS AND IDENTITY THEFTHOW TO ACCEPT CREDIT CARDS FROM CUSTOMERS ALL OVER THE WORLDThank you for reading my article, please don't fail to contact me if you have any questions or comments. And feel free to post your reaction to this article on the readers forum. One love, bye till next week.
