₦airaland Forum

Why is Nigeria not using the credit card system? Are Nigerians less human?

There is also mobile checking in other countries where you can use a mobile phone to cash a check by just taking the picture of the check.

Wr seem nut credit worthy any more.
Manage Debit Card for now

cardoso514:
Wr seem nut credit worthy any more.
Manage Debit Card for now

In some place, even some debit card company offers 99% debit card options included in the debit cards

UncleAyo:
Why is Nigeria not using the credit card system? Are we less human?

We aren't Less human, but too dubious in nature

aremuforlife:
We aren't Less human, but too dubious in nature

Not everybody is dubious anyways. Credit card system is so good and developed to eliminate the dubious users

UncleAyo:
Not everybody is dubious anyways. Credit card system is so good and developed to eliminate the dubious users

75% of us always look for loopholes to commit crimes.
A Nigerian collected iPhone 12 on credit and about #2m I'm dubai and japa back to Nigeria

You see, there are few people who use credit cards in Nigeria because the issuers know they are credit-worthy.

Try to make friends with someone who works with those online companies that lend Nigerians money, the person will tell you how useless Nigerians are. The default rate is extremely high and some shameless Nigerians will even threaten or insult you for asking them to repay the money they borrowed.

Besides, those countries that use credit cards have what they call credit score and track your spendings and earnings. If you default, the government will clear it, but you are finished because you will hardly get something on credit again unless you consult experts to help you build it again.

Na Buhari wey never loot our money finish dey come clear your bad credit history?

Of course there is credit card system in Nigeria. Its been around for a while.

You want credit cards, when common online loan apps that people collect money from they'll come here to be looking for lawyers that will help them fight the company instead of just paying up

Boss go don load d hell out of it

The are busy using the money to give loans to billionaires

You wan load the cc

For credit card service to work in any system, it requires a one-stop SECURE and credible database of citizens' financial status in real time, so that credit card companies can make informed decisions on a potential customer's credit worthiness, and the appropriate credit line to be extended to such a prospective customer.

Maybe our BVN could do the trick. Eventually, I think we will get there. I think the fintechs have started the move towards that direction with these their quick loans.

They do. My bank offered me a credit card but I did not take them up on the offer. Don’t know if you need a dom account because the offer was in dollars.

Credit card system is very good and it discourages fraud. But those wicked entities in the corridors of power who love to see people suffer won't allow it to work. They don't want the common man to measure shoulder with them. For example with a credit facility anyone can get latest phone, car etc. In addition, we need to develop our social security number system. But due to mischievous ways of those in power, they won't allow it to work. If done properly the security situation will be reduced more than 50%. Those in power know exactly what they are doing, they all travel out and see how things are done in other countries. To me, its just pure black man wickedness and nonsense attitude. It pains me a lot that with all the wealth in the country, people can't just enjoy it fully but just a few numbers of privilege one's that are enjoying the goodies meant for everyone.

There is credit card in Nigeria na, but they wont offer it to just anyone. No way to track credit score or go after defaulters . Alot of people cant even repay loan apps of small loans. They wont also repay cc na

Because they're not technologically wise

Example, your Minister of information Lai Mohammed, things like this doesn't come to his mind, na only to talk about bandits and boko Haram and how to extend Twitter ban, Nonsense childish government!

9japride:
Credit card system is very good and it discourages fraud. But those wicked entities in the corridors of power who love to see people suffer won't allow it to work. They don't want the common man to measure shoulder with them. For example with a credit facility anyone can get latest phone, car etc. In addition, we need to develop our social security number system. But due to mischievous ways of those in power, they won't allow it to work. If done properly the security situation will be reduced more than 50%. Those in power know exactly what they are doing, they all travel out and see how things are done in other countries. To me, its just pure black man wickedness and nonsense attitude. It pains me a lot that with all the wealth in the country, people can't just enjoy it fully but just a few numbers of privilege one's that are enjoying the goodies meant for everyone.

in a country where majority earn 50k or less . Their credit limit ( if there was CC) wont be able to afford car or phone na

It won't work in Nigeria because of the high rate of unemployment and underemployment... People that take the loan will find it very difficult to pay back.. we are not mature enough as a country to have credit card... Look for instance the online loan apps the way Nigeria default them nobi small thing and is not that most of them want to default but the high inflation rate makes life unbearable for most Nigerian to meet up with repayment at due time

Zooposki:
They do. My bank offered me a credit card but I did not take them up on the offer. Don’t know if you need a dom account because the offer was in dollars.

What's your bank? I have a dom account but never been offered such.

ednut1:
in a country where majority earn 50k or less . Their credit limit ( if there was CC) wont be able to afford car or phone na

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Its still possible, its all about setting a list of requirements for various category of people. For example those with salaries of 50k will be able to secure credit facility for yyyy items, same for cars etc. Its very possible.

Me I know sey even in the next 2 years Nigeria cannot introduce credit cards for all it's citizens, instead of credit card they gave you guys e-naira .
Me I know sey even after 2 years from now Nigeria will not introduce credit cards for all it's citizens who owns different bank accounts, I laugh in e-naira

UncleAyo:
Why is Nigeria not using the credit card system? Are Nigerians less human?

There is also mobile checking in other countries where you can use a mobile phone to cash a check by just taking the picture of the check.

Mr. J J C Nigerians are placed on restrictions by many international institutions and Embassies of countries around the world due to fraud & Forgery ( yahoo yahoo)

Nigerians have been using credit cards for the last 10 years.
Some banks like UBA, Unión bank, First Bank will give credit cards to ALL government employees, including the military regardless of their status at work. Companies rated A+ eg SPDC also have credit cards offered to their staff. The reason is this category of people are less likely to run off and disappear because of a loan.

UncleAyo:
Why is Nigeria not using the credit card system? Are Nigerians less human?

There is also mobile checking in other countries where you can use a mobile phone to cash a check by just taking the picture of the check.

A country without data base can't use it n besides Nigerians are too criminal minded to use it imagine wetin many people dey do loan apps

UncleAyo:
What's your bank? I have a dom account but never been offered such.

Zenith Bank.

To issue a credit card they need to evaluate your credit score. How in Nigeria can you know someone credit score? It can be introduced maybe to people with dom account but if they give everybody the issuer go pay gbese tire.
If you know how much scammers are costing America in credit card scam you will know we not capable.

Kaiser20:
Mr. J J C Nigerians are placed on restrictions by many international institutions and Embassies of countries around the world due to fraud & Forgery ( yahoo yahoo)

I'm no JJC. I'm just asking why not?

Shokoloko:
Nigerians have been using credit cards for the last 10 years.
Some banks like UBA, Unión bank, First Bank will give credit cards to ALL government employers, including the military regardless of their status at work. Companies rated A+ eg SPDC also have credit cards offered to their staff. The reason is this category of people are less likely to run off and disappear because of a loan.

Good info. But I wish everybody in Nigeria can use credit cards, especially now that inflation is worse.

Credit card has been here a longtime ago but the problem I have is that many banks will tell you that the amount to be withdrawn from either ATM or POS is 45% will 55% will be online transaction.
And I ask why shld they dictate how we are going to use the money. What of people that don't do online transaction?

Zooposki:
Zenith Bank.

That's great if true. I will GTBank will offer credit card to dorm account holders too.

They do, but to few