To make credit purchases with CredPal, the following are required:
- Work and live in Lagos, Nigeria
- Most recent three months bank statement of account
- A valid means of identification (Driver’s license, National ID, International Passport)
- Provide Utility bill (Nepa bill, Waste management bill, etc.)
CredPal allows flexible means of payment which includes:
-Cheque - POst-dated cheque written and signed for pending repayments.
-Card - Card setup for pending repayments.
Yes, a 30% upfront is required for orders made with CredPal payment.
The upfront payment can be made on delivery of items or paid via user’s account. The 30% upfront does not carry interest.
Your card will be used to bill for your repayment.
You can also select the cheque option during account setup if you prefer to pay with cheque.
our application might be declined for a number of reasons. Please contact our support if your application ever gets declined. The following are most common reasons:
- If you do not reside or work in Lagos
- If your bank statement is discovered to be false or fraudulent
- If your means of identification are invalid
- If your bank statement does not reflect stable income
Cheque - You can pay for your loans by issuing us post-dated cheque on delivery. The cheque should be dated to be collected on dates of your repayment or earlier.
Debit Card - You can set up your debit card for repayment via our mobile app. This can be done with the pay now option or the add card option
Bank Transfer - You can do a direct transfer into our account and inform us about your payment. We will then confirm and acknowledge your payment via mail.
We encourage you to make your loan repayments on time because late or missed payments would hurt your credit and affect your ability to get CredPal credit in the future.
While we hope we never have to do so, we reserve the right to refer delinquent accounts to repossession agencies. This means in case of default, CredPal will go after defaulters with the full extent of the law, and also repossess financed items from them
For any questions about this, or if you are unable to pay your balance, please contact us. You may review our Terms of Service here.