Will credit cards with 3 months minimum payment be closed? Statement from the Directorate of Communications

Presidency’s Directorate of Communications Center for Combating Disinformation (DMM) stated that “The claim that the card of a cardholder who makes only the minimum payment for 3 consecutive months will be deactivated is not true. It was stated that there is no such regulation by the Banking Regulation and Supervision Board (BDDK).

DENIAL FROM THE DIRECTORATE OF COMMUNICATIONS TO THE CLAIM ABOUT CREDIT CARDS

Claims have come to the fore that the credit card of a cardholder who makes only the minimum payment for 3 consecutive months will be blocked. Following the allegations, the Presidential Communications Directorate’s Center for Combating Disinformation made a statement. In the statement made by DMM, it was stated that the Banking Regulation and Supervision Board (BDDK) has no studies or regulations to close the use of cards of credit card users who make minimum payments.

“CLOSED TO CASH ONLY USE”

In the statement, it was pointed out that in accordance with the regulation, credit cards whose minimum payment amount has not been paid three times in a row are closed for cash use, and it was reminded that credit cards whose minimum payment amount has not been paid three times in a row are closed both for cash use and for the purchase of goods and services.

In the statement, the following was noted: “The limits of the credit cards in question cannot be increased until the full period debt is paid, and such cards are kept closed to cash use or use. There is a statement in some media outlets and shared on social media accounts, ‘Those who make only minimum payments for 3 consecutive months “The claim that the cardholder’s card will be blocked for use is not true.” In the statement, it was also requested not to rely on speculative statements that could disrupt the functioning of the markets.