Debit Cards and Credit Cards Law No. 5464 regulates the general framework of credit card transactions.
Minimum Payment
- At least 20% of the total debt
- 1-year limit: 30% for less than 25,000 TL, 40% for more than 25,000 TL
- (Amounts are annual updated)
Interest Rates
- Contractual interest:Up to the maximum rate announced by the CBRT (usually 3-4% per month)
- Delay interest:Additional points on contractual interest
- Delay interest on entire debt if minimum payment is not made
Consumer Arbitration Committee / Consumer Court
If the bank unilaterally changes the fee/interest or accrues unfairly, an application can be made to the Consumer Arbitration Committee / Court.
Supreme Court 13. HD
13. HD accepts that items such as "account management fee" and "annual membership fee" in credit card contracts may be unfair terms and that the consumer may request their refund. Current regulations must be followed.Consumer/finance law lawyer support is recommended.