The Banking Regulation and Supervision Agency (BDDK) has implemented a measure to make credit cards more accessible for citizens who cannot document their income. The maximum credit card limit available to customers without verifiable income has been increased from 1,300 TL to 2,000 TL. Additionally, under the BDDK decision dated 09.07.2020, and as part of measures to mitigate the economic effects of the coronavirus pandemic, credit cards that have missed the minimum payment three times within a year may not be subject to automatic closure for cash use and purchases until the end of 2020.
Details of the BDDK Announcement
According to the BDDK’s decision numbered 9093, dated 09.07.2020, several regulatory adjustments were made. The limit that had previously been set at 1,300 TL by the Board decision dated 06.09.2016 has been revised. Pursuant to Article 47 of the relevant law and amendments to Article 9, paragraph two of the Bank Cards and Credit Cards Law No. 5464 and Article 22, paragraphs one and three of the Regulation on Bank Cards and Credit Cards, the maximum unsecured card limit has been increased to 2,000 TL.
The change aims to protect cardholders facing income documentation difficulties and to provide relief during the pandemic. One specific regulatory provision addresses cards whose minimum payment is not made. Under Article 22 of the Regulation, if the minimum payment is missed three times within a single calendar year, a credit card may be restricted from cash withdrawals and from being used for goods and services transactions.
However, the new BDDK ruling allows card-issuing institutions the discretion not to apply this restriction until 31.12.2020. In practice, this means that credit cards with missed minimum payments will not necessarily be blocked for cash use or purchases immediately; these protective measures for issuers are temporarily relaxed so that cardholders affected by pandemic-related financial difficulties have more flexibility.
It is also clarified that limits on those credit cards will not be increased until the outstanding statement balance is paid in full; such cards may remain closed to cash advances or transaction use until the debt is settled. The temporary non-application of the closure rule is intended to reduce hardship for customers who have failed to meet minimum payments during the pandemic period, while still preserving the rights of card-issuing institutions.
In summary, the BDDK decision raises the maximum unsecured credit card limit from 1,300 TL to 2,000 TL for clients who cannot document income, and it provides temporary relief regarding automatic restrictions for cards with repeated missed minimum payments, with these easing measures effective through the end of 2020.