New Era in Credit Card: There is Only One Condition to Avoid It Being Closed
While the brakes are put on loans, especially housing and automobile loans, the increase in credit card expenditures continues. While a series of programs were implemented within the scope of combating inflation, a signal was given that new steps could be taken. A new regulation regarding credit cards is coming. With the new regulation, there will be serious changes in both the number of installments and credit limits on credit cards. Serious sanctions are on the agenda for those who buy gold, foreign currency and crypto, if they do not have reasonable grounds.
BANKS SENT A MESSAGE
This month, some banks included a warning in the card statements they sent to their customers: “Your card may be closed due to foreign currency/gold/crypto asset purchases with your credit card, closing of overdue loans, transfers without reasonable justification, transactions for exceeding the cash withdrawal limit and transactions for taking money out of the system.” gave. Some banks informed their customers using cards via SMS.
WARNING FROM THE EXPERT
Stating that the aim of the new application is to prevent investment-related expenses such as purchasing a luxury vehicle, Financial Consultant Emin Yılmaz said, “Interest rates may be regulated, installments may be limited, and a regulation may be introduced on issues such as purchasing a second-hand car.” He added: “When you use a credit card for investment purposes, Otherwise, the incident goes to a different dimension. Regarding this, the line here needs to be drawn well.” New Era in Credit Card
“It is Possible for Your Credit Card to Be Closed by the Bank”
Underlining that users who do not want to close their cards or be affected by any sanctions should only provide a “reasonable reason”, Yılmaz said, “Especially with credit cards, citizens purchase foreign currency, gold and crypto assets. “If you do not have a reasonable justification, it may be possible for your credit card to be closed by the bank,” he said.
Credit Card Expenditures Increased by 155 Percent
Credit card spending increased by 155 percent in the last year. While it was determined that 1 trillion 172 billion TL was spent by credit card in the week of January 19, 2024, it was noteworthy that this figure was 459 billion TL on January 19, 2023.
