Bad news for those who lower their credit card limit!

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Lerato Khumalo

It was on the agenda to collect a contribution of 750 lira from citizens with a credit card limit of 100 thousand lira. As soon as citizens heard this news, they began to reduce their credit card limits. After the bill was first postponed to 2025 and then completely shelved, citizens decided to call their banks and increase the limit.

SOME WILL NOT INCREASE THEIR LIMIT!

However, banks started to ask for some documents to increase the limit. Sworn-in Financial Advisor and Economist Muhammet Bayram, who made a statement to Milliyet, said the following:

“We had already mentioned in our previous comments that credit card limits would be reviewed along with the tight monetary policy implemented. With the defense industry fund, some of our citizens took action to avoid paying 750 TL by reducing their limits below 100,000 TL. Aside from regulating the old limits, some problems may be encountered for those who want to revise their limits. Banks revise credit card limits again along with the income statement. “Unfortunately, when many people want to increase their limits again, they will not be able to at the moment.”

‘INCOME MUST BE PRESENTED COMPLETELY AND CORRECTLY TO THE BANK’

Underlining that the income should be presented to the bank completely and accurately, Bayram said, “While it is possible to easily increase and decrease the limit through mobile banking, people who currently reduce their limits in order not to contribute to the defense industry should present their income to the banks fully and accurately in order to increase it again. “Banks need to allocate a limit based on this data. For this reason, it will be in the interest of citizens to physically go to the bank and speed up the transactions,” he said.