Yes, the money you spend on your STB Mastercard will also be a loan, but they are only accepting cash as collateral! :-P
On 6/21/05, Afeez <[EMAIL PROTECTED]> wrote: > > You do not load money onto a credit card, you are issued a credit card on > grounds of your credit worthiness and balances are cleared monthly into your > card account, based on your purchases, (use of the card ) ,and your bank > balances. whatever you spend on your card is a loan, debit cards on the > other hand are tied to your accounts directly and you spend what is in your > accounts, the variant i think exists in Nigeria is a 'juju' variant that has > no sense where mony has real value, you cant sit funds down as a security > for a card , its banana, , what happens is you can open only one account > with a bank and tie all your life to it, credit, debit card, store cards, > mortgage, salary, insurance, > what is practised in Nigeria is just another cash and carry banking chikena > cheers all > Affe > > "Oforkansi Oti [ MTN - Port Harcourt ]" <[EMAIL PROTECTED]> wrote: > > > > Y'ello All, > > > > Hope you had a great weekend. > > > > I feel these so called credit cards are essentially debit cards. We should > have found a way of integrating our already existing debit cards into the > system such that we could carry our debit cards from here and use it > anywhere in the world as long as you got money in it. They should worry with > the conversions. > > > > So the issue is squarely within the banks' control. The thing is that our > bankers are not brought up to think let alone creatively. How can you call > that card a credit card when I am expected to keep some minimum deposit in a > dollar denominated account with your bank. Meet some out this world > conditions. I am also expected to have some amount too in the card. I don't > get it. Is that how credit cards work in other parts of the world. Somebody > help me. I am really not that sharp. > > > > Enjoy, > > > > Oforkansi Oti > > _________________________________________________________________________________ > > "Enjoy what you can; endure what you must"... Goethe > > > > -----Original Message----- > From: [email protected] [mailto:[EMAIL PROTECTED] > Behalf Of Afeez > Sent: 18 June 2005 11:48 > To: [email protected] > Subject: Re: [Lets TALK GSM] master card in nigeria > > > > > The issue is certainly not in the Bank's control, when 100,000 is less than > 500 pounds which is about the daily withdrawal limit on a card here. > > > > The value of the naira pevents the integration of that economy into any > global calculation, poverty, bad governance and unemployment are more > crucial issues in a cash driven economy > > > > Afz > OMONIYI OLATUBOSUN <[EMAIL PROTECTED]> wrote: > > > Has anybody tried the master card offered by stb,firstbank and ecobank right > here in nigeria .I tried that of ecobank but it seems it is not for the > common man.the requirements are so much.pls check it out every body. > > Omoniyi Olatubosun.Postal Address. c/o Omoniyi Olubusayo. Guinness Nigeria > plc . 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