It had been alleged that the cards of those who pay the minimum amount of their card debt three times would be closed for use. Odatv asked the authorities about the 'minimum payment' claims.
According to reports on social media and various websites, it was claimed that the cards of users who make the minimum payment for 3 consecutive months would be closed.
According to the statement made by the authorities, there is no such practice. Credit card holders will continue to have their cards open for use as long as they pay the minimum amount of their card debts.
LATE INTEREST IS APPLIED TO YOUR DEBT
The credit card minimum payment amount is the lowest amount you must pay by the due date of your credit card debt.
If you make a payment below this amount, late interest is applied to your debt. However, if the minimum payment is made, the credit card continues to be used.
Economic authorities stated that there has been no legal change in this method applied to date.
The relevant article in the Bank Cards and Credit Cards Law, which is still in effect, is as follows:
“In the event that the minimum amount is not paid within three months following the due date, if this amount is not paid within one month from the notification to be made to the cardholder by the card-issuing institution, or in case of judicial penalties due to the use of bank cards and credit cards, the credit cards issued to the cardholder by the relevant card-issuing institution shall be cancelled and no new credit card may be issued until the entire debt is paid.”
News Source: 12punto
