DMM issues statement on claim that 'credit cards will be closed for those making minimum payments for 3 consecutive months'

The DMM statement included the following:

"The claim appearing in some media outlets and shared on social media accounts that 'the credit card of a cardholder who only makes the minimum payment for 3 consecutive months will be closed for use' is not true.

The Banking Regulation and Supervision Agency (BDDK) does not have any study or regulation aimed at closing the credit cards of users who make their minimum payments. According to the regulation, credit cards for which the minimum payment amount is not paid three times within a calendar year are closed to cash advances.

Credit cards for which the minimum payment amount is not paid three times in a row are closed to both cash advances and the purchase of goods and services. The limits of such credit cards cannot be increased until the entire periodic debt is paid, and such cards are kept closed to cash advances or general use. Do not give credence to speculative statements that could disrupt the functioning of the markets."

News Source: 12punto