O3 Capital Cards Review: Credit Cards in Nigeria

O3 Capital is a credit card issuer in Nigeria, fully licensed by the Central Bank of Nigeria as a financial service fintech.

Most Nigerians are more familiar with debit cards and loans, those are the more popular financial instruments in the country. Credit cards, on the other hand, are not as widely used. O3 Capital hopes to bring the advantages of credit cards to Nigerians.

If you are vaguely familiar with the idea of credit cards and have been wondering how to get one in Nigeria, O3 credit cards might just be what you’ve been looking for.

What is a Credit Card?

A credit card allows you to withdraw money from ATMs or spend money on credit and pay it back later, with small interest.

Unlike the usual debit card where you cannot spend more than the available balance in your account. Credit cards allow you to continue spending, balance is accrued, and you are charged a daily interest on the amount you spend for that day.

Credit card works different from loans in the sense that you don’t have to declare a specific need for the card, but with loans your lender need to know exactly what you are taking the loan for. Here are some of the major advantages of credit cards over other financial instruments;

  • Interest on loan starts counting the day you get it, you can get a credit card today and not get charged interest until the day you start spending
  • Interest on loan is charged flat for 30 days while interest on credit card is charged on the amount and only for the days the funds is outstanding so you can spend payback interest at the end of the month is much smaller
  • Most loans are charged at 4% flat or more a month while o3 credit card is charged at 0.13% per day only on what you have spent.
  • Loans are usually for 3,6 or 9 months while the credit card is for 2 years.
  • When you finish paying your loan you have to reapply for a new loan when you need funds, but with the credit card you are in charge, you can pay back and have access to the funds as you want
  • No deposits ,no account, no collateral, you need to have an acct with the bank who is issuing the loan or have a salary acct domiciled at the bank, but with the credit card you can have an account anywhere, o3 gives you freedom
  • You need to pay a large sum every month on a loan, but with the o3 credit card you only need to spend 10% of your monthly balance and can roll over the following month
  • You get rewards and cash backs as you spend your o3 credit card
  • A loan is for specific needs but the credit card is ever ready to help you out of any situations 365,24/7 but the credit card is always there.

O3 Credit Card Categories

O3 Capital is Nigeria’s first non-bank based credit card issuing company, the company has three types of credit cards on offer for customers.

O3 capital credit card

First Job? Newly married and just want to go easy? How about the CLASSIC credit
➔No fees.
➔Minimum limit of 100,000NGN.
➔Maximum limit of 500,000NGN
➔0.13% daily interest on what you spend.
➔Free supplementary cards.
➔Transfer or receive money to/from any bank.


So you’ve moved up in your career and are looking to upgrade. A professional in your field, Parents with kids in school? Our Platinum card…

➔Minimum limit of 100,000NGN.
➔Maximum limit of 1,500,000NGN.
➔0.13% daily interest on what you spend.
➔Opt for either a virtual or physical card.
➔Supplementary cards.
➔Transfer or receive money to/from any bank.


Personal use or Business use? Professional or Executive? Join the O3 World with Prestige credit card.

➔Minimum limit of 100,000NGN.
➔Maximum limit of 2,500,000NGN.
➔0.13% daily interest on what you spend.
➔Earn cashback on POS and web spend.
➔No minimum spend, no spend exclusions.


  • O3 credit cards can be used through Nigeria on any platform that accepts your usual debit cards – online, ATMs, POS.
  • Lower interest rates compared to loans.
  • You only pay interest on the amount you spend.
  • Credit available 24/7, no collateral, no paperwork.
  • Licensed and fully registered by the CBN.
  • Has multiple credit card types according to your needs.


  • Difficult registration process due to network issues
  • Requires to much documentation, asks for BVN, statement of account, international passport etc during registration.

What other users are saying about O3 credit cards

Majority of users on the O3 capital mobile app seem to be facing one network issue or the other.

Adedoyin Oloye wrote, “I’m rating this app one star because, I set up a prepaid card but still don’t know how to fund the account, no account number, the full digit isn’t showing, no CVV , nothing, I want to fund the prepaid account it no account number, where’s the account number when the full digit on the card isn’t showing, do something about it.”

Tunde Folorunsho wrote, “The linking of card was Seamless and the transfer experience is superb. This is another level of credit card transaction where there’s no limit to your spending and being able to transfer funds is a game changer … am enjoying this …”

Jennifer Ekunke wrote, “Accessing soft loans and credit is really seamless with 03cards. It’s my one stop for all financial transactions.” read all customer’s reviews here.

How to get O3 credit card

Step 1: Download the O3 Capital mobile app available on both the Google play store for Android devices and on App store for iOS. The mobile app also has other features including loan application, Pay your bills within the O3 Card App; Electricity, Airtime, DSTV, Toll Bills, Internet services etc.

Step 2: Click on “Create a card” and select “request a Credit Card”.

Step 3: Fill in the credit limit you want on your credit card.

Step 4: fillout your profile information including BVN verification, personal information, address details, your image selfie, ID card and a file of your bank statement of account.

Step 5: Your information will be processed and if approved, a physical credit card will be delivered to your address. You can also opt for a virtual credit card on the app if you want.

What are the benefits of having an O3 Card in your wallet and making payments with it?

  • – You get to earn cashback on POS and web spend. No minimum spend
  • or spend exclusions.
  • – Get discounts and special deals when you use your card at your
  • favourite cinema spots and eateries (O3 Classic cards)
  • – Shop online, get amazing deals and discounts.
  • – Get discounts and special deals when you use your card at hotels, spas
  • and restaurants (O3 Platinum cards).
  • – Free access to VIP airport business lounges (O3 Prestige cards).
  • – Emergency card replacement in case of loss or theft.

Bottom line

Most Nigerians are familiar with debit cards and taking loans in case of financial emergencies. But with O3 credit cards, you get the best of both financial instruments. You can get a physical card to be used at ATMs, online and POS. And a credit card provides funds in cases of emergencies at a much lower interest rate compared to most loan facilities.


A writer! Columnist and an academic researcher
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