He said people misconceived that using a credit card, kept one in debt forever, and explained that, once a person paid his debt, he or she was eligible to use the credit card again.

A credit card is a payment card issued to users (cardholders) to enable them to pay a merchant for goods and services with an assurance by the cardholder to pay back the issuer of the card, which could be a bank, with an agreed amount of charge.

Mr Lamptey said this on Wednesday when the Bank launched its "Visa Credit Card" in Accra to offer customers more convenient and secured mode of payment and doing business.

He said doing more electronic and digital payment had a lot of advantages for the public and the state at large, hence, the need for the Bank to promote it.

Users of the Bank's credit card, he said, would among many benefits get an interest-free payment period for 25 days, purchase products and services online, and be protected from fraud.

He said the introduction of the credit card was as a result of insights the Bank got from customers with regard to what they wanted the card for and the features they wanted it to have, saying, it was introduced basically to satisfy customer needs.

Any individual, 18 years and above with a monthly net salary of GH?3,000.00 and above is eligible to obtain a credit card, he explained.

"Victims of card fraud should contact the bank immediately to block the card, for investigations to follow and possibly get the victim's funds for him or her," he advised.

Madam Adoma Peprah, the Country Manager for Visa Ghana, said it was necessary to invent and reinvent visa credit card especially in Africa to serve the public, hence, why Visa Ghana partnered Stanbic to introduce the card.

She said visa credit card was the most trusted mode of payment across the globe because a person's bank could make payments on behalf of the cardholder, whenever it became necessary.

With regards to how secured a credit card was, she disclosed that, the Bank, which recorded about 65,000 visa transaction every second, monitored all of them digitally to protect customers from fraud.