A New Era for Credit Cards: Affecting Millions of Cardholders - Sözcü Newspaper
8 Articles
8 Articles
Within the scope of the 2027-2029 Medium-Term Program, it is planned to make credit card limits more aligned with citizens' actual incomes and payment capabilities. The new system aims to evaluate social security income data together with credit and debt information.
With the new regulation that affects millions of cardholders, credit card limits will no longer be determined according to the declaration, but according to the real income and debt situation detected by SME and Risk Center data. The adjustment process will be completed by January 1, 2027, while limiting limits beyond solvency.
Credit Card Limits Are Going to Be Adjusted Based on Income: Solvency Will Be the Primary Criterion.
Work has begun to reduce the debt burden stemming from credit cards. Social Security Institution (SGK) and Risk Center data will be used together to make credit card limits more aligned with citizens' actual incomes. With this regulation, repayment capacity will be given greater consideration when applying for credit.
A new era is beginning for credit cards, affecting millions of people. When setting limits, banks will consider not only the customer's declared income, but also their actual income, current debt burden, and ability to repay.
A new era is beginning for credit card limits, affecting millions of users. When setting limits, banks will consider not only customers' declared income but also their actual income, current debt burden, and ability to repay.
The Medium-Term Program (MTP) covering the period 2027-2029 includes steps towards the widespread adoption of the domestic card scheme TROY and the completion and deployment of the Digital Turkish Lira infrastructure.
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