Please note that this credit Card Agreement is valid and enforceable and will be construed as read and accepted upon submission of an application for our Credit Card. This Agreement contains all relevant terms (with the exception of a credit limit) in regard to A1 Credit Card which will be issued to you upon a successful application.

You should read this agreement and other documentation provided to you during your application process to understand the terms that apply to any A1 credit card we may agree to provide. Terms such as your Credit Limit shall be provided in your Offer Letter as this information can vary depending on our assessment of your application.

The following terms, General Conditions, Charges Tariff, and your Offer Letter shall form your Credit Card Agreement.

1. 1. Interpretation

“We or Us” shall mean A1 Capital Solution Limited trading under the name and style of A1 CREDIT;

“You or Your” shall mean the cardholder

“Credit Limit” shall mean the most you are allowed to owe on your account. This amount shall be restricted to N1, 000, 000.00 (One Million Naira) only. We will give you notice of these limits and may change them. Your daily transaction limit shall be contained in your offer letter upon approval of your application.

“Advance Limit” forms part of the Credit Limit and is the most you are allowed to owe for Advances. Your advance limit will be contained in your offer letter.

“Advances” are when you use your card for drawing cash from an Automated Teller Machine (ATM) or request a Cashback facility from a POS. Please note that an N65 charge will be applied for such transactions.

“Available Credit” means the amount available to the cardholder for transactions, after deduction of the current balance and any other charges and interest.

“Cash Back” shall mean the collection of cash for the sum paid via an electronic device.

“Card Maintenance Fee” shall mean the sum charge monthly for card maintenance

“Card Issuance Fee shall mean a one-off fee which we charge for issuance of your plastic credit card that allows you to access your available credit. This amount shall be N1, 575.00 (One Thousand, Five Hundred & Seventy-Five Naira) including VAT and shall be charged to your card upon issuance of your credit card.

“Card Replacement Fee” shall mean a fee charged by us for replacing a lost or stolen credit card. This amount shall be N1, 575.00 (One Thousand, Five Hundred & Seventy-Five Naira) including VAT and shall be charged to your card upon issuance of your new card).

Commitment Fee shall mean a fee charged by us for an unused credit line in order to keep the line of credit open. This shall be charged at 1% of the advanced sum credit limit.

“Dud Cheque”st shall mean a cheque which was tendered to us by you as a security sum for the amount approved to you as Credit Limit, which when presented to your bank, upon default of your repayment, was rejected or dishonored.

“Default Charge” shall mean a fee charged for your failure to repay at least your minimum payment on your due date, or in the event that we try to collect your minimum payment via Direct Debit and it is not honored. This is 1% of your advanced balance and shall be charged along with the interest rate.

“Management Fee” shall mean a one-off fee charged by us for processing an application for a Credit card and for the general administration of the facility over its lifetime. This shall be charged at 2% of your credit limit

“MPR” shall mean Monthly Percentage Rate

“Service charge” shall mean a fixed monthly fee of N1, 110.00 (One Thousand One Hundred & Ten Naira) charged by us for making available to you, any sum which you paid towards your balance for further spending.

“VAT” charge to your interest payable on the value of advance used.

You can request an increase in your Credit Limit. Before agreeing to an increase, we will assess your ability to pay and request a new cheque for the credit limit being requested. After notice of a Credit Limit increase, you can tell us you wish to keep your existing limit or request the increase as soon as possible. At any time, you can request a reduction in your Credit Limit and opt-out of future Credit Limit increases. Any Cheque issued will be returned upon full payment of your current credit limit.

2. 2. Payments

Each month you must pay the following payments as shown on your statement:

3. i. the minimum payment which will be the greater of 10% of your balance or the full balance.
4. ii. that month’s interest and any default charge (where applicable). We shall attempt to collect your outstanding sum from your account, between the 20th and 30th of each month (within a 24hrs cycle) before a default charge is incurred.
5. iii. N52.50 (Fifty Two Naira Fifty Kobo) for as card maintenance fee.

There is also a card issuance fee of N 1,575.00 (One Thousand Five Hundred & Seventy-Five Naira) a 2% management fee and a 1% Set up fee which shall be deducted from your credit limit upon approval of your application. Where a card is not used within any month, we shall charge 1% of the unused credit as a commitment fee.

Payment must be made by the date shown on your statement and any overdue amounts, which will be included in the total amount you are required to pay, are payable immediately. You can pay the whole or part of your balance at any time using the payment methods described in your statement.

6. 3. MPR

The MPR does not take account of any future changes to interest rates, fees or charges or the terms of any special offers by giving you written notice. We may change any other interest rate for any of the reasons set out in General Condition 9(a). We will give you at least 30 days’ written notice before the change takes effect and you will have an opportunity to opt-out of the increase by giving us notice to close your account.

7. 4. Interest rates

Transaction Type	Monthly Rate
Purchases	5.5%

All rates shown are variable unless stated as fixed.

If you take up any special offer, the terms of that offer including any transaction fee will apply. If you break this Agreement we may reduce or end any special offer.

We may change any other interest rate for any of the reasons set out in General Condition 9(a). We will give you at least 30 days’ written notice before the change takes effect and you will have an opportunity to opt-out of the increase by giving us notice to close your account.

8. 5. Direct Debit

All applicants must set up a Direct Debit (DD) instruction with Remita (or any other third party we may choose to use from time to time) from their salary account or company accounts for automatic deduction of their minimum or outstanding sum to A1 Credit. An applicant who fails to set up the required DD shall not be issued a credit card, until such time as when one has been set up. In the event, that your DD instruction is canceled, we shall attempt to collect the full outstanding sum and cancel such a credit card.

9. 6. Your right and our right to restrict or cancel

You may cancel this Agreement without giving a reason within 7 days beginning the day after you receive your first card, provided no fund has been utilized from the card. You can do this by writing to A1 CREDIT, Cards Customer Services, 21 Akin Ogunlewe Street, Victoria Island, Lagos or by telephoning +2348074955555. Where any funds have been utilized by you, we shall present you a cheque for collection before your Bank, unless full payment of the balance has been made within 14 days of your cancellation of the card. You can obtain details of the balance and the daily amount of interest by placing a phone call to +23474955555. We may restrict or cancel your use of your card on the following grounds:

10. a) where you fail to make your minimum repayment in 2 successions or 3 times in a year, on or before your payment date;
11. b) where we discover that any representation, warranty or assurance made or given by you in connection with the application for this credit card or any information or documentation supplied by you, is later discovered to be materially incorrect;
12. c) where you fail to use the card consecutively for three (3) months;
13. d) where you do or omit to do anything which may prejudice the Company’s rights under this Agreement or cause the Company to suffer any loss or damage.

Warning – missing payments

If you miss payments this could make obtaining credit more difficult and we may take court action. A1 Credit retains the right to present the cheque issued as a security deposit upon failure to receive payments twice, and should such cheque be returned dishonored, A1 Credit shall consider pursuing criminal actions against you under the Dishonored Cheque (Offences) Act and other applicable Legislature.

General Conditions

14. 1. Cards
15. (a) We will issue a card and PIN (personal identification number) to you and open an account.
16. (b) You must sign the card when received and follow any activation procedures, keep each card secure and not allow any other person to use it, memorize the PIN. Keep passwords and PINs secret and take all reasonable precautions to prevent them from becoming known to another person and prevent their fraudulent use.
17. (c) You must not exceed your Credit Limit, or Advance Limit or use a card after it has expired or been canceled, or for illegal purposes.
18. (d) We may issue a different card type from the one you applied for and your account number will change.

2. Card transactions

You may carry out transactions with the card or card number after we have opened the account, by following any procedures required and you must pay all amounts charged to the account. To activate your card for use online, please contact us and we will activate your card. Note that your card cannot be used online for foreign websites and foreign currencies. Payments to an international bank or building society are also not permitted.

(a) A transaction is authorized where you follow the procedures required by the merchant, which may include:

• - entering the PIN or providing any other security code;
• - signing a sales voucher;
• - providing any details requested;
• - using a card reader.
• - use a card and PIN to obtain an Advance at a machine or bank counter.
• - provide the card details to us to request a Balance Transfer, Advance, or Money Transfer.
• - give a completed promotional cheque bearing the card details to any person.
• - orally or in writing consent to the transaction after it has taken place

(d) Authorization can cover single transactions or Recurring Transactions, or a future transaction of a certain or uncertain amount. Recurring T ransactions are regular payments (including for an indefinite period) that you authorize a third party to collect from your account.

(e) We may refuse a transaction if we suspect the card has been lost or stolen, you have broken this Agreement; you go over your Credit or Advance Limit or you cancel your DD instruction. If we refuse a transaction, we will, if possible, give you the reason for the refusal and you may be able to correct any information which led to it. You can obtain this information about the refusal by calling the number provided at the end of these General Conditions. We may also tell you orally or in writing.

(f) Generally, once authorized, a transaction cannot be stopped.

(g) We do not guarantee that a card or card details will be accepted. We are not liable if any merchant or machine in Nigeria fails to let you pay or withdraw cash or we cannot provide any part of our service for a reason beyond our control.

19. 3. Statements

Monthly statements will be available to view via our platform www.A1creditng.com. You will also be issued your log in details via email. You are unable to make any online transfers via our platform, however, do notify us to initiate a change of password through our website, in the event that you lose or forget your password or login ID.

20. 4. Charges and tax

(a) You must pay the charges set out in the Charges Tariff, together with any tax, duty or other charge required to be paid to any authority, which will be applied to your account.

(b) You must pay any reasonable costs we incur in enforcing payment, after as well as before any court order, including the cost of finding you if you change your address but do not tell us.

21. 5. Calculation of interest

(a) Interest is charged on Purchases, and Advances from the date the transaction is applied to the account until paid.

(b) Interest on fees and charges accrues at the Purchases rate and is charged from the date of application to the account until paid. Default Charge interest will not be charged before the expiry of any deferral period required by law.

(c) Interest on interest accrues at the same rate as the category of the transaction; fee or charge on which interest is charged, from the date that interest is applied. We do not charge interest on interest for Default Charges.

(d) Interest is calculated at the Monthly Rate on the average daily balance since the previous statement date.

(e) Your statement will show a balance and payment date. If you pay the full balance for the previous month by your due date, you will only be charged interest on the paid balance form the date of the transactions till the date of payment of the balance.

(f) Interest will continue to be charged after any court order for payment until it is satisfied.

22. 6.Payments

(a) Payments to the account will not reduce the balance until the payment is cleared. Your statement includes information about clearance periods.

(b) We apply any payment to overdue amounts from previous statements before reducing the Minimum Payment. Balances will also be reduced according to their interest rates with the highest-paid first. Payments in excess of the statement balance will be applied in the same way to reduce amounts charged to your account but not yet shown on any statement. If parts of the balance have the same interest rate, items on which interest is charged on interest will reduce first.

23. 7. Lost or stolen cards

(a) If a card is lost or stolen, or you suspect that someone knows the PIN or password, or that a card or its details were used without your agreement, you must tell us immediately. The address and telephone numbers are at the end of these General Conditions.

(b) If a card is misused before you report its loss or theft, or that someone else knows the PIN or password, you will be liable for all transactions (including fraudulent transactions) carried out by such person using the card details on the internet, by telephone or advances. Also, if the card is misused by someone who has it with your permission, you will have to pay for all transactions. Once you have given notice of loss, theft or possible misuse, we will cancel the card and you will not be liable for any further transactions. If you then find the card you must not use it. To prevent fraud, cut it in half through the signature box, magnetic strip, and chip. A cost of N1, 575.00 (One Thousand Naira) will apply for every replacement card.

(c) We may give any appropriate third-party information in connection with the use, loss, or theft of the card, and/or the PIN or password; or in order to meet our obligations as a member of the relevant payment scheme.

24. 8. Ending or restricting the use of a card or account and ending the Agreement

(a) As part of our fraud prevention policy, we may restrict overpayments to your account that are in excess of your balance.

(b) This Agreement has no minimum duration but you may end it by giving notice and paying all sums owed and any interest, fees and charges to the date of payment. To prevent fraud, cut all cards in half through the signature box, magnetic strip, and chip.

(c) We may end the Agreement at any time after giving you written notice, which in normal circumstances will not be less than one month. When this happens, we may give information about you and the account to credit reference agencies.

(d) When the Agreement ends, we will continue to apply interest and charges until you have paid everything you owe under the Agreement.

(e) We may take immediate steps to recover all amounts due on your death or bankruptcy or if you break this Agreement. Such steps will include serving any notice or obtaining a court order if required by law.

(f) We own any cards issued by us and, if we ask, you must return a canceled card.

25. 9. Changes to the Agreement

(a) We may make changes at any time to any interest rate, the Charges Tariff (including introducing new fees or charges) or to any of the terms of this Agreement to reflect changes in market conditions, including, fraud prevention requirements, changes in technology, changes in payment methods, regulatory requirements, and the cost of funds, ensure good banking practice, ensure that we are prudent and remain competitive, maintain or improve services, reflect costs we incur, reflect our credit assessment of you, maintain or improve our systems, rectify a mistake, reflect or anticipate changes in the law, and reflect that you are no longer eligible for any concessionary arrangement.

(b) If you ask for an increase in your Credit Limit and we agree, the change will only take effect once we have a cheque for your new credit limit and you have been notified of its availability. For any other change, we will usually give you at least 30 days’ written notice before the change is made.

(c) We may change or withdraw any benefits or services associated with the card on giving you at least 30 days’ notice.

(d) If you give us notice to close your account within 60 days from the date of a notice of an interest rate increase, the increase will not apply.

26. 10. Electronic communications and contact details

(a) If you provide us with an email address or mobile phone number, you agree that we may send notices and information (including statement alerts and a notice of changes to this Agreement) to your email address and account alerts to your mobile phone.

(b) If your names, address, telephone number(s), salary /Company bank account or email address changes, you must tell us. If you telephone to inform us of the change, you may be asked to confirm in writing.

27. 11. Disclosure of information and transferring debts

We may give to anyone any information about you or this Agreement in connection with any proposed transfer of, or financial arrangement by reference to, this Agreement. We may allow any person to take over any of our rights and duties under this Agreement. References to us in this Agreement include our successors.

28. 12 Waiver

If we waive any of our rights, it does not mean that we will again waive that right in the future.

29. 13 Governing law and regulatory information

(a) This Agreement is regulated by the Laws of the Federal Republic of Nigeria.

(b) We have a complaint handling procedure you can use to resolve any issues. For more information about this procedure, you can get this information by telephone.

30. 14. Dispute Resolution

(a) any dispute arising out of this Agreement shall be resolved in good faith by the parties.

(b) If the parties cannot resolve such dispute in good faith, then it shall be referred to a court of competent jurisdiction.

31. 15 Your information

    The information we hold about you

    (a) Your information comprises all the financial and personal information we hold about you and your transactions. It includes information that we receive from third parties (third parties who provide services to you or us and credit reference or fraud prevention agencies); information that we learn about you through our relationship with you and the way you operate your accounts; and information that we gather from the technology which you use to access our services (for instance location data from using your mobile phone to access our mobile banking services). If you contact us electronically, we may collect your electronic identifier e.g. Internet Protocol (IP) address or telephone number supplied by your service provider.

    How we use your information and who we share it with

    (a) We may use and share your information with other members of the Company and with third parties providing services to either you or the Company. This information helps us and them to assess and process applications, provide you with services and manage our (or their) relationship with you; carry out financial (including credit) and insurance risk assessments; recover debt, and prevent and detect crime.

    (b) The information which we hold and share allows us and other Company companies to better understand what our customers need from us. Within the Company, we analyze the information to understand our customers’ preferences, expectations and behavior; to develop, test and review the performance of the Company’s products and services; and to enable the Company to find and make more relevant offers of its products and services to you.

    (c) We also reserve the right to use and share information about you and your transactions with other members of the Company to help us understand the way you like to operate your accounts, your lifestyle and your purchasing preferences, and to offer you other products or services which we or third parties can provide. Only we will contact you in this way, and we will only do so if we believe that these will be of genuine interest to you. We will not share your information outside the Company for marketing purposes.

    (d) We will ask you when you first open your account if you are happy to receive such information by mail, email, text and other forms of electronic communication. If you change your mind about how you would like us to contact you or no longer wish to receive this information, you can let us know by telephoning 08074955555.

    (e) We do not disclose your information to anyone outside the Company except where we have your permission; where we are required or permitted to do so by law or a regulatory body; to third-party service providers, agents and sub-contractors acting on our behalf; to debt collection agencies; to credit reference and fraud prevention agencies; to other companies that provide a service to you directly or on our behalf; where we may transfer rights and obligations under this agreement or assign, transfer or charge our interest in any financial product provided to you under your account; or as set out in below.

32. i. We may disclose your information to government entities or regulatory bodies in order that those entities may discharge their responsibilities and obligations or exercise their powers or functions.
33. ii. We may transfer your information to other countries on the basis that anyone to whom we pass it provides an adequate level of protection. However, such information may be accessed by law enforcement agencies and other authorities to prevent and detect crime and comply with legal obligations.

(f) Our third-party service providers may share information about you with us in accordance with their own policies on the use of information. If we obtain information about you from our third-party service providers, we will only use this information for the purposes set out in (a)-(e).

(g) We may contact you by a variety of means including via the application on your mobile phone, by email, text message, post and/or telephone. If at any point in the future you change your mobile phone number, email address, postal address or telephone number, you should tell us promptly about those changes.

(h) From time to time we may change the way we use your information. Where we believe you may not reasonably expect such a change, we shall write to you. If you do not object to the change within 60 days, you consent to that change.

(i) If you would like a copy of the information, we hold about you, please write to The Data Protection Officer, A1 CREDIT, Cards Customer Services, 52, Ahmadu Bello Way, Victoria Island, Lagos State. A fee may be payable.

34. 16. Credit reference agencies
(o) We may make periodic searches at credit reference agencies and will provide information to the Company to manage and take decisions about your accounts, trace debtors, recover debt, prevent fraud and check your identity to prevent money laundering unless you provide us with other satisfactory proof of identity. This may include information about how you manage your account including your account balance, Credit Limit and any arrears. We will also provide this information to credit reference agencies who may make this information available to other organizations so that they can take decisions about you, your associates and members of your household or Company. This information may also be used for tracing purposes. We may also inform our credit reference agency if you default on payments and the credit reference agency may inform other agencies and lenders as well.
35. 17. Fraud prevention agencies

(q) If false or inaccurate information is provided and fraud is identified or suspected, details may be passed to fraud prevention agencies. Law enforcement agencies may access and use this information. We and other organizations may also access and use this information to prevent fraud and money laundering, for example, when:

36. checking applications for, and managing credit or other facilities and recovering debt;
37. checking insurance proposals and claims;
38. checking details of job applicants and employees.

We, and other organizations that may access and use information recorded by fraud prevention agencies, may do so from other countries.

(r) We can provide the names and addresses of the credit reference and fraud prevention agencies we use if you would like a copy of your information held by them. Please contact the Customer Services Officer, A1 CREDIT, Cards Customer Services, 21 Akin Ogunlewe Road, Victoria Island, Lagos State. The agencies may charge a fee.

39. 18. Debt recovery charge

In the event that the Company utilizes the services of a third party to recover any portion of your outstanding sum, you agree that an additional recovery charge of 10% of the outstanding sum shall be paid back together with the outstanding sum to the Company. We reserve the right to prosecute you for any Dud Cheque under the Dishonoured Cheque (offenses) Act and any other applicable Legislature.

40. 19. Intellectual Property

You agree that all intellectual property rights and database rights, whether registered or unregistered, on our Site and in relation to our Credit Card, information content on the Site and all the website design, including, but not limited to, text, graphics, software, photos, video, music, sound, and their selection and arrangement, and all software compilations, underlying source code and software shall remain at all times vested in us or our licensors. The use of such material will only be permitted as expressly authorized by us or our licensors. Any unauthorized use of our material and content is strictly prohibited and you agree not to or facilitate any third party to, copy, reproduce, transmit, publish, display, distribute, commercially exploit or create derivative works of such material and content

41. 20. Indemnity

You agree to indemnify and hold us, our affiliates, officers, directors, agents and/or employees, as the case may be, free from any claim or demand, including reasonable legal fees, related to your breach of these Terms of Use and User Agreement or from our use of false information provided by you.

42. 21. Severability

If any portion of these terms or conditions is held by any court or tribunal to be invalid or unenforceable, either in whole or in part, then that part shall be severed from these Terms and Conditions of Use and shall not affect the validity or enforceability of any other section listed in this document.

43. 22. Confirmation of Age

You confirm that you are at least 18 years of age and an employee of the company on your application form. You agree that if you are unsure of the meaning of any part of the Terms and Conditions of this Credit Card Agreement, you will not hesitate to contact us for clarification prior to making and accepting the Terms and Condition by submitting an application.

44. 23. Formation of contract

You agree that by submitting a Credit Card application to us, you have accepted and our terms and conditions and a binding contract only exist between us, upon us issuing a credit card in your name to you.

45. 24. Miscellaneous Provisions

You agree that all agreements, notices, disclosures and other communications that we provide to you electronically satisfy any legal requirement that such communications be in writing. Assigning or sub-contracting any of your rights or obligations under these Terms and Conditions of Use to any third party is prohibited unless agreed upon in writing by us. We reserve the right to transfer, assign or sub-contract the benefit of the whole or part of any rights or obligations under these Terms and Conditions to any third party.

46. 25. Acceptance of electronic documents

You agree that all agreements, notices, disclosures and other communications that we provide to you electronically satisfy any legal requirement that such communications be in writing.

47. General inquiries:

We can be contacted via our email address: info@A1Creditng.com or on our telephone number 08074955555.