Credit card warning from experts

Many people continue to keep credit cards they do not use in their wallets or simply forget about them. However, these unused cards can leave their owners facing unwanted debts over time. Finance experts and authorities in the field of consumer rights emphasize that the risks posed by cards left open without being cancelled should not be ignored.

According to banking regulations, as long as a credit card is active in the system, annual membership fees can be charged to the cardholder's account even if no spending is made. For this reason, many citizens may eventually encounter membership fee debts reflected on their statements for credit cards they do not physically use or have forgotten about.

Stating that membership fee transactions can continue even when a credit card is just put in a drawer or temporarily disabled via a mobile application, experts say the definitive solution is to have the card completely cancelled through the bank's official cancellation procedure.

The dangers posed by unused credit cards are not limited to membership fee debts. If a membership fee charged to a card whose statement is not checked is not paid, financial setbacks such as late fees or legal proceedings may occur. This situation can also negatively impact a person's Findeks credit score. A lower credit score can become a disadvantage in future housing or personal loan applications.

Another important issue is the limits kept open on unused cards. Each individual's total credit card limit is determined based on their income. High-limit cards kept passively can pose an obstacle when applying for new cards or limits at other banks and can restrict a person's financial flexibility.

According to experts, it is of great importance for citizens to regularly check all their credit cards and bank accounts through the Risk Center Report provided on e-Devlet. Cards that are suspected or unused should be officially cancelled by contacting the bank, and a request for "cancellation" rather than just "closing" should be made. Furthermore, they remind those who only want to use a credit card in emergencies that they can request fee-free (basic) cards from banks within the scope of their legal rights.

In summary, leaving unused cards open can lead to both unexpected membership fee burdens and serious financial problems in the future. To avoid being victimized by such a situation, it is recommended to perform regular checks regarding card usage and to cancel unnecessary cards.

News Source: 12punto