Thank you for your interest in FCMB Visa Credit Card. At First City Monument Bank (FCMB), we believe in earning your trust by presenting information in a clear and transparent manner. This guide has been to make your FCMB VISA Credit Card request seamless and easy to use for your everyday expenses at home and abroad.

FCMB Visa Credit Card is a Naira denominated and internationally accepted credit card with a revolving credit line; used to withdraw cash at any ATM in the world where the VISA logo is displayed.  You can make payments in any currency and your monthly repayments will be in Naira. You can choose to fully pay back the amount used on your card plus transaction fees on or before the payment due date. If you do so, you will enjoy an interest free period of up to 40 days.

Please note the following key information associated with your Credit Card:

Monthly Payment Due Date

  • The Minimum Monthly Payment Due is 10% of your total spend* plus any interest, fees, charges and over-limit amount. The methodology of calculating the minimum amount due can be changed to a dynamic mode at the sole discretion of the Bank i.e., the minimum amount due can change from month to month depending on your Card usage, repayment behaviour and applicable fees and charges.
  • Monthly payment due date is stipulated on the Credit Card statement. If this date falls on a Bank holiday, the due date will be the first working day after the due date.
  • If you do not make full payment, interest will be calculated at 3%and 1.5% per month for Unsecured and Secured credit cards respectively.

*Total Spend means: Cash withdrawals and all other transactions

*Cash Advance means: Cash Withdrawals only

Tariff

Fees

Classic

Gold

Monthly Maintenance Fee (Primary Card)

N 50

N 50

Monthly Maintenance Fee (Supplementary Card)

N 50

N 50

Monthly Interest Rate

3%

3%

The Monthly Maintenance Fee is charged at the end of each statement cycle which commences from the date your card is activated.

Other Fees

Classic

Gold

Cash Advance Fee (FCMB)

N 100

N 100

Cash Advance Fee (Other Banks)

N 250

N 250

Cash Advance Fee (International)

N 240

N 240

Card Replacement/Reissue Fee

N 500

N 750

PIN Reissue Fee

N 150

N 150

Exceeding the set credit limit fee

 3% of Excess Amount

3% of Excess Amount

Late Payment fee

N 2,000

N 2,000

Annual Credit Limit Fee

N 2,000

N 2,500

SMS Charges (per transaction)

N4

N4

Please note that all charges are subject to change by the Bank.

FREQUENTLY ASKED QUESTIONS (FAQS) - Visa Credit Card

CARD APPLICATION

Q: WHAT ARE THE TYPES OF VISA CREDIT CARDS AVAILABLE?

Classic and Gold Card types.

Q: HOW DO I GET A VISA CREDIT CARD?

It's easy! - Simply walk into any FCMB branch and complete the application form with the required documentation for Visa Credit Card.

Q: WHAT ARE THE REQUIRED DOCUMENTATIONS?

Card Type

Target Customers

Employer

Customer Type

Documentation

Unsecured Credit Card (Clean Credit)

Salary Earners

Must be Categorised

Existing Salary Plus Loan

  • Duly completed Visa Credit Card Application form.
  • Employer’s commitment to domicile salary within the credit card tenor (Waived for existing loan customers who submitted Employer’s commitment letter after May 2013).
  • 1 blank, undated but duly signed cheque leaf issued in favour of “Applicant’s Name/FCMB Account.
  • Valid ID card.
  • 1 passport photograph (where account >2yrs).
  • Duly signed Important Information Document(IID).

Non Borrowing Salary Earners

  • Duly completed Visa Credit Card Application form.
  • Employer’s commitment to domicile salary within the credit card tenor.
  • 1 blank, undated but duly signed cheque leaf issued in favour of “Applicant’s Name/FCMB Account.
  • Valid ID card.
  • 2 References(One must be a blood relative).
  • 1 passport photograph (where account >2yrs).
  • Duly signed Important Information Document(IID).

Secured Credit Card

Non-Salaried

Nil

Self-employed Customers(Business Men,Traders,Travellers,Tourists etc)

  • Duly completed Visa Credit Card Application form.
  • Customer’s instruction to lien collateral amount.
  • 1 blank, undated but duly signed cheque leaf issued in favour of “Applicant’s Name/FCMB Account.
  • Valid ID card.
  • 1 passport photograph (where account >2yrs).
  • Duly signed Important Information Document(IID).

Additional requirements where investment is owned by a Limited Liability Company

  • Board Resolution
  • Current Form C07

CARD ACTIVATION

Q: CAN I START USING MY CARD ONCE I COLLECT IT FROM THE BRANCH?

No. The card has to be activated before use.

Q: HOW DO I ACTIVATE MY VISA CREDIT CARD AFTER COLLECTION?

 It's easy! - Simply follow the steps below

Step 1 – Request that the Credit Card be activated by the Customer Service Manager (CSM) at the branch

Step 2 – Provide your Credit Card account number

Step 3 – CSM activates your Credit Card immediately

Step 4 – You can now change your PIN at any FCMB ATM

Q: WHAT IS THE PIN?

PIN means Personal Identification Number used for ATM, POS and Online Transactions.

Q: HOW DO I GENERATE MY PIN?

There is a default PIN that comes with the Visa Credit Card which is 0000. Simply go to any FCMB ATM and change the default PIN to your desired 4-digit PIN.

Q: IS THERE ANY OTHER PIN?

Yes, it is called Online Transaction PIN. (I-PIN) This is the PIN that is used for online transactions on merchant websites with enhanced security called Verified by Visa (VbV).

Q: HOW DO I GENERATE MY WEB TRANSACTION PIN?

It's easy! - Simply follow the steps below

Step 1 - Enter your 4-digit PIN

Step 2 - Select change PIN

Step 3 - Select Web Transaction PIN (I-PIN)

Step 4 - Enter desired Web Transaction PIN

Step 5 - Re-enter Web Transaction PIN

Note: Web Transaction PIN must be different from the normal ATM PIN.

 

CARD USAGE & DEFAULT

Q: HOW DOES MY VISA CREDIT CARD WORK?

A Credit Limit is approved for every cardholder. You can spend within the Credit Limit and repay on or before the due date. If you exceed your credit limit for any reason, an over-limit fee would be applied. Please refer to the card pricing section on this document.

Q: WHERE CAN I USE MY VISA CREDIT CARD?

The Visa Credit Card can be used on ATMs, POS terminals and online. Your card is internationally accepted as a means of payment at over 24 million merchant locations and over 1 million ATMs worldwide, in over 170 countries.

Q: HOW DO I GET MY MONTHLY STATEMENT OF ACCOUNT?

Your monthly statement is sent to your email address on the statement date.

Q: WHEN DO I MAKE MONTHLY SETTLEMENT ON MY CREDIT CARD?

FCMB Visa Credit Cardholders are expected to repay their credit card bills on or before the payment due date indicated on your monthly statement.

Q: HOW IS MY CREDIT CARD STATEMENT DATE AND PAYMENT DUE DATE DETERMINED?

Your credit card statement date and payment due date are determined by your salary payment date.

Below is a table showing different salary payment dates and their respective billing cycles:

Billing Cycle Guide

Salary Payment Date

28th-30th

23th-27th

18th-22nd

7th-17th

3rd – 6th

31st – 2nd

Statement Date

20th

17th

12th

7th

27th

23rd

Payment Due Date

30th

27th

22nd

17th

6th

2nd

INTEREST

If you cannot fully repay the outstanding balance before the payment due date, please pay back as much of your outstanding balance as possible in order to reduce the interest.  Interest is charged on the outstanding balance on your card after the payment due date.

* 40 days free of interest

If you spend at the beginning of a new cycle (21st) and settle full amount on due date (30th), no interest will be charged to your card in the next cycle.

Where the full amount is not settled on the payment due date, a monthly interest of 3% (Unsecured Credit Card) or 1.5% (Secured Credit Card) will apply on the outstanding amount on your card at the end of the next cycle.

Q: HOW ARE REPAYMENTS MADE?

A standing instruction would be placed on your salary account (repayment account) from which monthly repayments would be debited on the payment due date.  You can also choose to pay cash, cheque or make transfers into the card account.

Q: HOW MUCH AM I EXPECTED TO SETTLE MONTHLY?

Minimum monthly repayment is 10% of your outstanding balance.

Q: CAN I WITHDRAW CASH ACROSS THE COUNTER FROM MY VISA CREDIT CARD?

No.

Q: CAN I PAY CASH INTO MY VISA CREDIT CARD?

Yes.

Q: WHAT ARE THE CONSEQUENCES OF PAYING LESS THAN THE MINIMUM AMOUNT DUE (10% OF OUTSTANDING BALANCE) OR MISSED REPAYMENT?

A late payment fee of N2, 000 flat will apply. Cardholder who has missed repayment consistently for 2 billing cycles would be suspended/deactivated from further usage of card.

 

Criteria for Reactivation

 
  • Customers at 45+DPD bucket would be reactivated on repayment of 20% of total outstanding balance
  • Customers at 60+DPD bucket would be reactivated on repayment of 50% of total outstanding balance
  • Customers at 90+DPDbucket would be reactivated on repayment of 100% of total outstanding balance

Q: HOW LONG CAN I USE MY VISA CREDIT CARD?

Card can be utilised until the expiry date shown on the card. A new card will be produced for you 30days before the Card expiry date.

Q: WHAT ARE THE COMMON REASONS MY VISA CREDIT CARD APPLICATION CAN BE DECLINED?

Your application may be declined for the following reasons:

  • Bad Credit history on existing loans
  • High Debt Burden Ratio -DBR; (where DBR > 40%)
  • Low credit limit (where Credit limit < N25,000)
  • Low income (where Monthly Net Income is <N40,000)

However, this application may be reviewed in the future in line with the bank’s underwriting criteria and credit policy.

 

TRANSACTION DECLINE & STOLEN CARDS

Q: WHAT ARE THE COMMON REASONS MY VISA CREDIT CARD TRANSACTIONS CAN BE DECLINED?

Your FCMB Visa Credit card transactions can be declined for a number of reasons including:

  • Card has not been activated
  • Wrong PIN being used (use of wrong PIN three consecutive times will block your card)
  • Wrong expiry date and IPIN for Web transactions
  • Exceeding daily ATM withdrawal or POS limit
  • Supply of a billing address that is different from the address on the credit card application form.

WHAT SHOULD I DO IF MY VISA CREDIT CARD IS LOST OR STOLEN?

Please report lost or stolen cards immediately by calling any of the following numbers 07003290000 or 012798800 and request that the card be blocked immediately. You will be asked a few questions to confirm that you are the actual owner of the card.

OTHER KEY POINTS TO NOTE

  • All transactions outside Nigeria will be converted to Nigerian Naira (N) at the prevailing exchange rate when such transactions are processed.
  • As required by law, we will share your credit data with credit bureau and other financial regulators.
  • This document is for your information and does not replace your Credit Card agreement.
  • The bank will ensure that your renewed card is produced and make all reasonable efforts to deliver it to you before the final date of the month of expiry on your credit card.
  • When travelling overseas, please remember to inform us of your itinerary to help us ensure that you do not experience any service disruption.
  • Please remember to read your monthly Credit Card Statement and inform us of any discrepancy within 30 days from the statement date, otherwise it will be considered accurate. In case you need to dispute some transactions on your Credit Card Statement, please contact us on 07003290000 or 012798800 or visit any of our branches.

For additional information, please call our 24/7 Contact Centre on 07003290000 or 012798800, email us at customerservice@fcmb.com or contact the nearest FCMB branch.

Full terms and conditions are applicable.

Thank you.