The amendment made in the Regulation on Bank Cards and Credit Cards entered into force with the regulation published in the Official Gazette dated October 22, 2014. With the amendment made in Article 26 of the Regulation;
“In the case of goods and services purchases and cash withdrawals to be made with credit cards, the installment period cannot exceed nine months, including the periods when the debt is paid in installments for a certain fee after the purchase of goods or services or the payment is postponed. This period cannot exceed four months for jewelry related expenditures. Installments cannot be applied for expenditures related to telecommunication to be made with credit cards and for purchases of food, food, fuel and products that do not include any tangible goods or services in the form of gift cards, gift certificates and similar forms. phrase has been introduced.
As of today, when the consumer, when he buys goods or services, pays a certain fee and wants it to be paid in installments or postponed the payment, the total period, including the postponement, cannot exceed 9 months.
For jewelry-related expenditures, this period was kept shorter and determined as 4 months. In this case, the installment period for the purchase of jewelry will not exceed 4 months. Now, when the person goes to the jeweler and buys a ring, earring or goods, the number of installments can only be 4 months.
EXPENDITURES THAT CANNOT BE POSSIBLE TO MAKE INSTALLMENTS ARE LISTED AS FOLLOWS:
-Telecommunication related expenses,
-Food, food shopping,
-Fuel expenditures,
-Gift cards, gift vouchers, etc.
While determining the expenditure items that cannot be made in installments, no limitations were made with those listed in the regulation and all such expenditures were excluded from the scope of installment.
With this amendment, which came into effect as of 22.10.2014, it was aimed to avoid installments with high interest rates and extending up to 24-36 months.
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