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Diamond Visa Card – How Do I Start

Diamond Visa Card - How Do I Start

Before you can use your card for the first time, for your protection we require you to call our contact centre on 0700-300-0000 and verify your identity by answering the two test questions you filled out on the application form. Once this call is completed successfully, you will be able to start transacting.

Understanding your daily usage limit

Transaction Type Platinum Gold Classic
Total Spend Limit N1.5 million N1 million N500,000
Maximum Purchase & Withdrawal Limit N1 million N500,000 N250,000
ATM Usage Limit (Count) 5 5 5
 ATM Amount Limit  N500,000  N350,000  N200,000
 POS Usage Limit (Count)  20  15  10
POS Amount Limit N1.5 million N1 million N500,000

 

  • The maximum you can withdrawal from an ATM daily. Note this is dependent on the configuration of the ATM you are withdrawing from.
  • Number of times you can withdraw daily from the ATM.
  • The maximum amount you can spend on POS daily. This includes on-line transactions.
  • Number of transactions you can do daily on both POS and on-line.

Earning Gem Points

Diamond Bank credit cardholders will be rewarded with Gem points for all transactions dont through POS (both locally and international) and on the internet. These gem points can be redeemed against services offered by our loyalty partners –

Air Nigeria https://www.myairnigeria.com

Avis http://www.avisng.com/

 

Loyalty Points (Non-Cash Transactions)
Classic Card Gold Card Platinum
N200 = 1 Point N175 = 1 point N150 = 1 Point

Understanding your monthly statement

Your monthly statement will be generated on the 18th of every month and sent to you via email address supplied in your application form.

The repayment due date is 29th of every month. You are expected to pay back the minimum monthly repayment specified at the point of application or 100% of your outstanding balance. However you will be charged interest on all purchases if you do not pay your balance in full.

The statement will state:

Cardholder’s name: Your name, as it is printed on your credit card
Card number: the 16-digit number printed on your card
Credit Limit: the total credit limit given to you at point of applying
Available limit: credit amount available to you at the time of statement
Minimum due payment: the minimum amount you are expected to repay. You can request to pay more than this (it is advisable to repay as much as you can, this will reduce your interest charges). Simply send a mail diamondvisacard@diamondbank.com.
Minimum payment date: the day your minimum repayment will be debited from your diamond account
Transaction amount and date: the total amount you spent with the dates the transaction was done
Transaction type: the type of transaction you did i.e. POS, ATM or Cash back
Fees and charges: these are the interest charges (financial charges), cash advance fees
Opening balance: the balance you carried over from the last statement cycle
Payment: total payments you have made into your credit card account

Making my repayment

It is your responsibility to ensure that you have sufficient money in your repayment account as at the 29th of each month to avoid incurring late payment fees.

At any time before the 26th of each month you can change your repayment option to suit your needs. Remember that you cannot go below the minimum repayment specified for your credit limit range. Simply send an email to diamondvisacard@diamondbank.com to change your repayment amount month by month.

How is my interest calculated?

Finance charges narrated on your credit card statement is an accumulation of interest which has accrued on both your ATM withdrawals and POS or online purchases within the monthly cycle. You can get up to 45 interest-free days on purchases and internet transactions, as long as you pay your card statement in full.

Please note that this only applies to purchases made on your card at a merchant or online. You will get charged interest on all cash transactions from the day you do the withdrawal. Interest is calculated based on the numbers of days cash was withdrawn.

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  1. At Diamond Bank, we take all your transactions from the 16th of one month (January for example) to the 15th of the following month (February), and we group them all together on your statement and send this to you on the 18th of the month. In this example, this statement is due for payment on the 29th of February.
  2. If you make a purchase on 16th January and you repay 100% of your outstanding balance on 29th February, interest will not be charged on the purchase, allowing you 45 days interest-free credit.
  3. The repayment date is the 29th of each month. However, the closer you get to this date, the less interest-free days you can enjoy. If you make a purchase on the 12th of the next month and you repay 100% of your outstanding balance, you can enjoy 17 days interest-free credit.
  4. What happens when you don’t pay in full? Interest accumulated by those transactions, will be loaded onto your credit card statement for repayment the following month.
  5. However, remember that interest will start calculating on all cash transaction from the withdrawal date.
  6. What happens on the 16th February? We start a new statement cycle, with all transactions made between 16th February and 15th March payable on the 29th of March. This cycle continues until your card account is closed.

Platinum Credit Card Premium services

With our Diamond Visa card you will get great deals on luxury goods from renowned retailers, offers at the finest hotels and restaurants and incredible benefits with airlines, cruise operators and car rental firms.

  • Visa Platinum provides you, your spouse and dependent children with a minimum coverage of US$500,000 in travel accident insurance when you pay for your travel fares with Visa Platinum.
  • Enjoy access to 500 preferred golf clubs around the world and complimentary tee-off at 6 golf clubs in Asia whenever you feel the need for a swing.
  • Concierge Service that is available 24 hours a day, 7 days a week. Wherever in the world you may be.

Where Can I Use The Card?

Our card is internationally accepted at over 160 million outlets worldwide and you can withdraw cash at any ATM abroad that displays the Visa logo.
You can also use your cards in Nigeria at the following merchants (PDF merchant list)

Shopping Tips

Verified by Visa

Confidence and Security when you shop online with your Diamond Visa Credit Card.
Internet shopping lets you choose from the best the world has to offer and now you can feel safe when you shop online with your Diamond Visa card.

Verified by Visa is a new security system that tells on-line retailers and banks thatyou are a genuine cardholder when you shop online. It allows you to use a personal password or pin to confirm your identity and protect your Visa card when you use your card on the Internet, providing greater reassurance and security.

Verified by Visa gives you the peace of mind of knowing no-one but you can use your Diamond Visa Credit Card online.

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It’s that safe. And that simple!

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