Please I need a clarification besides others can learn

Is our routine issued ATM cards whether verve, visa Mastercard debit or Credit cards

Cc lalasticlala mynd44 dominique MrKnowitall please front page

Any card that you must have money in account before you use is debit card

I think there is a different between both of them

Don’t be foolish it’s debit card the credit system can’t work in Nigeria

murphyibiam15:
Please I need a clarification besides others can learn

Is our routine issued ATM cards whether verve, visa Mastercard debit or Credit cards

It's a debit card cos you already have money in it.

A credit card means you're spending money that is not yours that's why it's called a credit card (You're buying on credit)

Braintrain:
Don’t be foolish it’s debit card the credit system can’t work in Nigeria

I hope you're alright...hope you're not suicidal? God help u

SavageResponse:


It's a debit card cos you already have money in it.

A credit card means you're spending money that is not yours that's why it's called a credit card (You're buying on credit)

So certainly a credit card is one maybe issued by a company which u can spend with

murphyibiam15:
Please I need a clarification besides others can learn

Is our routine issued ATM cards whether verve, visa Mastercard debit or Credit cards

The card that is majorly issue by banks like visa, master and verve card are debit card.

I have a credit card with GT Bank and the requirements to get it are as follow;
1, You need a dollar account
2, Request for Visa Credit Card.
3, You need $20 to get the card


Note that the card is a separate card account from your domiciliary account

You're charge $3.5 for each ATM withdrawal from the card

fados4sure:

The card that is majorly issue by banks like visa, master and verve card are debit card.

I have a credit card with GT Bank and the requirements to get it are as follow;
1, You need a dollar account
2, Request for Visa Credit Card.
3, You need $20 to get the card


Note that the card is a separate card account from your domiciliary account

You're charge $3.5 for each ATM withdrawal from the card

So how does your credit card help u better than your debit card?

A debit card is a card linked to your account either savings, current or domicillary account. The card is one of the alternative channels in which you can spend your deposited funds in the account.

A credit card is a card which is not linked to an account where you deposit any funds.
Here in Nigeria, credit cards are issued by your financial institution to their HNI customer's who they have declared credit worthy. They don't need to hound you before you pay back withdrawals you made via your credit card. Note that every credit card has a limit you can spend depending on what the bank has seen you can pay back after considering the cash flow on any of your accounts.

Financial institutions also issue credit cards to their staff members. Note that most financial institution in Nigeria issue credit card to only their staff and HNI customer's.

murphyibiam15:

So how does your credit card help u better than your debit card?

The advantage is that it can be used as credit advanced. For example, when you transfer money into the card, it will take 24hours to reflect in the card. So, before the money reflect, you can use the card online to make payments or buy goods online even without money in the card.

Note that the card is USD dominated

fados4sure:

The advantage is that it can be used as credit advanced. For example, when you transfer money into the card, it will take 24hours to reflect in the card. So, before the money reflect, you can use the card online to make payments or buy goods online even without money in the card.

Note that the card is USD dominated

Ok..that's cool...what if there is no money waiting to arrive..can it still be used?

murphyibiam15:

Ok..that's cool...what if there is no money waiting to arrive..can it still be used?

That depends on your past transaction with the bank