Turkey credit card regulations impact holders with limits over 50,000 TL

In Turkey, credit card holders with limits exceeding 50,000 TL face significantly higher financial obligations compared to those with lower limits. Under current regulations, the minimum payment rate for cards with limits below 50,000 TL is 20% of the period debt, whereas for cards exceeding this threshold, the rate rises to 40%.

When only the minimum amount is paid, the remaining balance carries over to the next period and is subject to contractual interest rates. Failure to meet the minimum payment requirement can lead to restrictions on card usage, such as being blocked for cash advances or shopping.

Financial experts warn that high limits can trigger uncontrolled spending and increase the risk of a debt spiral due to the higher minimum payment requirements and interest costs. They also advise that late or insufficient payments can negatively impact credit scores and recommend that cash advances from high-limit cards be used only in emergencies.