Diamond Dollar Credit Card

This is a Dollar Denominated Credit Card that can be used for payment anywhere in the world were Visa is accepted. It is available to individuals with Dollar Domiciliary accounts with the bank. You can request for up to $100,000 credit limit on this card (Terms and conditions apply)

Major features include;

- Worldwide acceptance
- Higher Spend Limits
- 45 free interest days
- It is cash backed
- Gem points

Daily Spend Unit:
ATM Daily Limit (Int'l) $1,000 or its equivalent
POS & WEB Daily Limit (Int'l) $10,000 or its equivalent

Earn Gem Points when you use your USD Credit Card for POS/Online transactions

Gem points, 5 points on every $10 spend via POS/WEB

Kindly click HERE to view FAQs on this product

  1. What is a USD Credit Card?
  • This is a payment card backed by a USD line of facility
  1. Do I need to have collateral to obtain this card?
  • Yes, 120% of the limit requested will be placed on lien as a fixed deposit. Customer will earn interest on held funds.
  1. What is the interest rate for the USD Credit Card?
  • 5% monthly
  1. Do I enjoy interest free days like the Naira Credit Card?
  • Yes, you enjoy 45 free interest days on POS/Online transactions only
  1. How can I make my monthly repayments?
  • Monthly repayments are done via your Diamond bank mobile app or online platform
  1. What is the monthly minimum repayment percentage for the USD Credit Card?
  • A minimum of 10% repayment is required monthly. Please note that the interest rate will apply on the outstanding amount.
  1. If I have a Naira account with the bank, can I request for this card?
  • No, the USD credit card will be issued to customers with USD domiciliary account
  1. Where can I use this card?
  • The USD Credit Card can be used anywhere in the world where Visa is accepted
  1. I have picked up my USD credit card, how can I activate?
  • Simply call our Contact Centre on 07003000000 to activate your card
  • After which, you visit any Diamond Bank ATM to generate your PIN (Personal Identification Number)
  1. Can I use my USD Credit Card for online transactions?
  • Yes, you can use this card on all platforms
    1. Withdraw cash from ATMs across the world where Visa is accepted
    2. Make payments on terminals anywhere in the world where Visa is accepted
  • Make online payments on international websites or mobile apps
  1. For online transactions, do I need another PIN to transact?
  • Yes, you will require an additional PIN to conclude online transactions but this is a One Time Password (OTP) that will be sent to your phone number or email during shopping
  1. Will I be charged for the OTP being sent to conclude my online transaction?
  • No, you will not be charged.
  1. Will I be charged for using my USD Credit card on POS and Web(Online) transactions?
  • No, you will not be charged

 

  1. What are the fees/charges on the USD Credit Card?

 

Features Diamond USD Credit Card
Joining Fee N1,000 plus VAT (Equivalent in USD)
Validity 3yrs
Transaction Charges POS & Web Intl Nil
ATM Withdrawal Charges Intl $5
Annual Service Fee $20 plus VAT
POS Cash Advance Intl $10
Surrender fee (Under 1 year) $20 (If liquidated within 3 months)
ATM Daily Limit (Int'l) $1,000 or its equivalent
POS & WEB Daily Limit (Int'l) $10,000 or its equivalent
Card Re-Issue/Replacement N1,000 plus VAT (Equivalent in USD)
    PIN reissue     Free
Currency Conversion 3.5%
Interest Applicable 2.5% Monthly
Late Payment Fee $5
Annual Spend Limit N/A

 

  1. Is the USD Credit card under the credit card reward scheme?
  • Yes, you earn 5 gem points on every $10 spend.
  • Points are earned only on POS/Online transactions
  1. What is the maximum daily ATM cash withdrawal limit?
  • The daily limit is $1,000
  1. What is the maximum daily POS/WEB spend limit?
  • The default daily spend limit is $10,000
  1. How can I get the USD Credit Card?
  • Simply visit the nearest Diamond Bank branch to request for the card

Appendix

Late Payment Fee & This is the fee applied when monthly repayment (minimum of 10%) is not done as at when due (29th of the month)

Currency Conversion Fee & This is the conversion rate applied when the card is used in any other country whose domestic currency is not Dollars

Card Validity & This is how long you can use your card before it expires. Upon expiry a new card will be issued to you

Credit Card Cycle & The credit card cycle is from 16th of the month to 15th of the next month (30 days) but customers are given up to 29th of the next month (an additional 15 days) to repay funds utilized within the cycle. This also explains the 45 free interest days

*Please note that the 45 free interest days only applies to POS/Online transactions