You can defer your credit card payments until 31.12.2020 due to the coronavirus. A payment-free period is being introduced for credit card debt. Cardholders who have outstanding balances can request to postpone their card payments until 31.12.2020. In line with the decision taken by the Banking Regulation and Supervision Agency (BDDK), the minimum payment rate for individual credit cards has been reduced to 20%. In addition, the BDDK’s other decision states that cardholders with individual credit card debt can defer their card payments until 31.12.2020 if they request it.
What Is the Decision of the Banking Regulation and Supervision Agency?
What is the decision of the Banking Regulation and Supervision Agency? The BDDK has issued important measures to ease the financial burden on citizens during the coronavirus outbreak. The decisions taken by the Banking Regulation and Supervision Agency to facilitate citizens’ financial transactions in light of the pandemic include the following.
As part of its measures to support citizens during the fight against the coronavirus, the BDDK has lowered the minimum payment amount for individual credit cards to 20%.
Another notable decision by the BDDK allows cardholders who request a deferral to receive a payment-free period for their credit card debt until 31.12.2020. This requested payment-free period also covers the minimum payment amount. Under the previous minimum payment rules, if the minimum amount was not paid within 90 days after the due date, legal proceedings would be initiated.