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Diamond Visa Card – How Do I Start

Diamond Credit 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 a few questions and thereafter, you card will be activated for use”

Understanding your daily usage limit

Transaction Type Platinum Gold Classic
Maximum Purchase & Withdrawal Limit N1.5 million N1 million N500,000
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 million N500,000 N250,000

Earning Gem Points

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

 

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

Understanding your monthly statement

Understanding your monthly statement

Your monthly statement will be generated on the 16th of every month and sent to you via email address supplied in your application form.

  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 16th of the month

Making my repayment

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 cards@diamondbank.com to change your repayment amount month by month. You can also make your repayment via our ADCs – Diamond Online & Diamond Mobile App.

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.

Shopping Tips

Confidence and Security when you shop online with your Diamond Credit Card

Whether it’s your Diamond MasterCard or Visa Credit Card, your shopping just got easier  with a greater security and guarantee on your online payments.

Your online payments will be concluded with the use of a dynamic One Time Password (OTP) which will be sent directly to your registered mobile phone and email address.

This secured feature gives you the peace of mind of knowing no-one but you can use your Diamond Credit Card online.

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It’s that safe. And that simple!

Enquire Now