Pls can anyone tell me if it is legal for Ecobank to charge 6% monthly interest rate (=at least 72% annually) for their Naira credit card account holders. I mean is this allowed under CBN regulation?

I dont think its legal but i believe they are just taking undue advantage of anyone who uses that facility

well. . .nigerians hvnt been proven to be good handlers of credit!think of it as incentive for you to settle your bills quickly!

is the naira credit card still available from eco bank?

I just apply 4 diamond naria credit card interest rate is btw 3.5% to 4% depending on which category u belong. There are other charges such as late payment fee N2000,monthly service charge of N750 etc pls check well well b4 applying. 4 me it suit my biz

Pls what is the advantage of this credit card? Can I use it for paypal or online transaction payment

@ sola
yes online transaction is one main reason 4 d credit card. 4 diamond visa credit card online transaction attract lesser interest than ATM.

Credit Card rates are high worldwide and not neccesarily controlled by CBN for those issuing them in Nigeria.
But of course, before taking the cards, you are informed about the rates,just that most of us think more of having the money than considering the rates if there's default.
You need be well disciplined before taking credit cards,they are the BEST if you are and the WORST if you default in repayment. Dont forget, most of them are without collateral.