The GTBank Standard Credit MasterCard is a versatile international payment card designed to offer convenience and financial flexibility. Issued in partnership with MasterCard Worldwide, this credit card is denominated in US Dollars, allowing seamless transactions across multiple currencies and providing more freedom compared to a debit card.

Whether you are traveling abroad, shopping online, or managing daily expenses, this credit card provides global access with high transaction limits. With secure payment technology and acceptance at millions of locations, it is an excellent financial tool for those who need reliability and ease of use.

Key information about the credit card

How does the annual fee work?

Unlike many credit cards that offer no annual fee as an attractive benefit, the GTBank Standard Credit MasterCard does come with certain charges. The card requires an issuance fee of N1,000 or its equivalent in US dollars. Additionally, there is an annual maintenance fee of $10, which ensures the continued operation and maintenance of the card’s features. This fee is straightforward and remains constant regardless of the cardholder’s spending behavior, making it predictable for budgeting.

How is the credit limit determined?

The credit limit for the GTBank Standard Credit MasterCard is based on multiple factors, including the cardholder’s creditworthiness and financial profile. Unlike prepaid cards where the user determines their limit by depositing funds, this credit card follows a more traditional approach. Guaranty Trust Bank evaluates an applicant’s financial standing, including income, credit history, and banking relationship, to assign an appropriate credit limit.

Advantages of the credit card

• Global access: Cardholders can access funds 24/7 at over 2.1 million ATMs worldwide.
• Wide acceptance: Accepted at more than 34 million merchant locations, including hotels, supermarkets, and online platforms.
• Secure transactions: The card uses Chip and PIN technology for fraud protection, along with Card Secure™ for added online security.
• No spending cap: There is no preset limit on POS or online transactions, allowing for unrestricted purchases.
• Multi-currency support: Although denominated in US Dollars, the card can be used to settle payments in various major currencies.
• Three-year validity: The card remains active for three years, reducing the need for frequent renewals.

Standout advantage

One of the biggest highlights of the GTBank Standard Credit MasterCard is its unrestricted spending limit on POS and online transactions. While many credit cards impose daily or monthly caps on spending, this card provides flexibility, allowing users to make purchases freely. This feature is particularly beneficial for travelers and business professionals who frequently engage in high-value transactions without worrying about exceeding set limits.

Disadvantages

• Annual maintenance fee: Unlike no-fee cards, this one requires a $10 yearly charge.
• ATM withdrawal limit: While POS and online transactions have no limits, ATM withdrawals are capped at $1,000 per day.
• Limited issuance to account holders: Non-account holders must go through additional steps to apply.
• No rewards program: Many credit cards offer cashback or rewards, but this one does not include such perks.

A standout disadvantage

A notable downside of this card is its $1,000 daily ATM withdrawal limit. Although the card allows unrestricted spending via POS and online channels, those who rely on cash transactions might find this limit restrictive. This could pose challenges for individuals traveling in regions where card payments are not widely accepted, requiring careful planning of cash withdrawals.

Who can apply for this card?

The GTBank Standard Credit MasterCard is available to individuals who meet specific eligibility criteria. Applicants must have a USD Domiciliary Account with Guaranty Trust Bank or be willing to open one. Non-account holders are required to provide additional documentation, including two referees, a recent utility bill, and a valid form of identification such as a driver’s license or international passport.

While there are no explicit credit score requirements, the bank evaluates each applicant’s financial history to determine approval. This credit card is not marketed as an easy-approval option, meaning individuals with poor credit or no banking history may face difficulties in obtaining it.

How to apply for the GTBank Standard Credit MasterCard

For the website

Applying through the GTBank website is the most accessible option for many users. To begin the process, applicants need to visit the official Guaranty Trust Bank website and navigate to the credit card section. From there, they will find an option to apply for the GTBank Standard Credit MasterCard. The online application requires users to fill out a form with personal details, including full name, contact information, and employment status.

If the applicant is a non-account holder, they must provide additional documents such as a utility bill and passport photograph. After completing the form, the system prompts the applicant to submit their details for review. The bank then evaluates the application, verifies the provided documents, and, if approved, dispatches the card to the specified address. This process typically takes a few business days, after which the cardholder can activate their new credit card and begin using it immediately.

Through the app

For those who prefer a mobile-friendly option, the Guaranty Trust Bank app offers a convenient way to apply. After logging into the app with their account credentials, users can navigate to the card services section and select “Apply for a Credit Card.” The application process is similar to the website’s, requiring users to enter their details, upload necessary documents, and agree to the bank’s terms.

The app provides real-time tracking of the application’s progress, allowing users to stay updated on their approval status. Once the application is approved, the bank either mails the card to the applicant’s registered address or makes it available for pickup at a selected branch. Additionally, the app enables users to manage their card settings, set spending limits, and activate security features after receiving the card.

At the branch

For customers who prefer in-person assistance, applying for the GTBank Standard Credit MasterCard at a physical branch is also an option. To do so, applicants must visit the nearest Guaranty Trust Bank branch and request a credit card application form. Bank representatives guide applicants through the required documentation, including proof of identification and financial statements if needed.

Unlike online methods, applying in person provides an opportunity to ask questions and receive immediate clarification on the terms and conditions of the card. Once all requirements are met, the bank processes the application and informs the applicant when their card is ready for pickup. This method is ideal for individuals who prefer direct interactions or require help with the application process.