Banking Regulation and Supervision Agency (“BRSA”) brought significant benefits to credit card customers with respect to credit card maximum limits and minimum credit card payments in accordance with Law on Bank Cards and Credit Cards No. 5464 (Article 9) and Regulation on Bank Cards and Credit Cards (Article 22/1 and 22/3) with its decision dated 9 July 2020 and numbered 9093 (“Decision”). BRSA aims to reduce the negative impact of Covid-19 pandemic on economy with this Decision.
With this Decision, BRSA;
increased the maximum credit card limit of credit card holders that the bank may grant to such holders who do not declare their monthly or annual average income or whose the bank fails to find out, from 1.300 TL up to 2.000 TL,
enabled the credit card institutions, at their own discretion, to postpone the enforcement of the article under the Regulation (Article 22/6) which obliges the credit card institutions i) to deactivate the cash withdrawal of the credit card if the card holder fails to make its minimum payment 3 (three) times in total within one calendar year or ii) to deactivate the cash withdrawal and purchase of goods/services if the card holder fails to make its minimum payment 3 (three) times consecutively within one calendar year, until 31 December 2020, as a measure to protect the credit card institutions. In this respect, the enforcement of the respective article is not mandatory anymore and left to the discretion of the credit card institution.
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 In accordance with Article 22/3 of the Regulation, the maximum credit card limit has been determined as 1.000 TL which is further increased to 1.300 TL with BRSA decision dated 6 September 2016 and numbered 7004.