Affecting millions: Credit card limits to be recalculated!

Preparations are underway for a new era in determining credit card limits that will affect millions of users. With the planned implementation, the goal is for banks to evaluate customers not only based on their declared income, but also on their actual income, current debt status, and repayment capacity.

In the new system, it is envisioned that the customer's credit and credit card debts at different banks will also be taken into account when determining credit card limits. This aims to provide a clearer view of an individual's total financial burden and to make limits more compatible with their repayment capacity.

SGK AND RISK CENTER DATA TO BE EXAMINED TOGETHER

Within the scope of the regulation, it is planned to evaluate income information from the Social Security Institution (SGK) together with credit and debt data held at the Banks Association of Turkey Risk Center. With this data infrastructure, banks are expected to analyze the income-debt balance of customers more comprehensively.

The implementation is expected to particularly affect holders of high-limit credit cards. The limits of customers who have a significant discrepancy between their income and their current card limit may be re-evaluated.

Banks are required to complete their efforts to align existing credit card limits with customers' incomes by January 1, 2027. The primary goal of the regulation is to reduce the risk of excessive borrowing that may arise due to limits exceeding repayment capacity.