If you fail to pay the minimum payment amount of your credit card a total of three times within a calendar year, your card is closed to cash use; if you fail to pay it three times in a row, it is closed to both cash use and purchases of goods and services. Your card limit cannot be increased until the full statement balance is paid, and your credit card remains closed to cash use or to all use until your entire card debt is paid.
In addition, your records at the Risk Center of the Banks Association of Türkiye and the Credit Bureau (KKB) are negatively affected, and the bank may start administrative and legal proceedings to collect the debt.
Additional burden when the debt is not paid
Late payment interest is applied to the statement balance for which the minimum payment was not made; banks also send late payment notices in accordance with the regulations. The upper limits and calculation method for this interest are set by the regulations.
If you have difficulty paying, it is important to talk to the bank early. Some banks offer restructuring options. A regular payment history, on the other hand, plays a positive role in the evaluation of future credit applications.
The minimum payment amount varies according to the card limit; for current rates, check your bank statement and the announcements of the regulator.
