Diamond Bank PLC has launched a credit card in collaboration with supermarket operator Park ‘N’ Shop in Nigeria, claiming it to be the country’s first cobranded credit card.
The Visa-branded credit card launched June 14 and is available to qualified Nigerian citizens, according to a customer service official from the bank. To qualify, applicants require a monthly gross income of 100,000 naira (US$637 or 450 euros), according to the bank. The card comes with a monthly fee of 750 naira.
Cardholders may earn loyalty points equivalent to 2% of all spending made on purchases at Park ‘N’ Shop and Spar outlets (also part of the Artee Group, owner of Park ‘N’ Shop). They also may earn one naira for every 100 naira they spend using their credit cards elsewhere, including overseas, the bank said.
Once accumulating a minimum of 500 loyalty points, cardholders will be able to claim a free shopping voucher for Park ‘N’ Shop worth 500 naira. In addition, cardholders also may receive offers and discounts at Park n Shop and Spar stores.
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