Credit Cards Regulation Change

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    Arrangements Regarding Cash Advance Usage in BRSA Credit Card Regulation

    Pursuant to BRSA Regulation on Bank Cards and Credit Cards; credit cards to which a payment up to fifty per cent of period debt is made three times at most within a calendar year are closed for cash use until period debt is fully covered.  In the event the debt on the last statement is fully repaid, the cards shall be opened again for cash use.  For detailed information, you may call 0850 200 0 666 TEB Phone Branch. However, we would like to further remind you that, in such cases, the credit cards can continue to be used on shoppings and supermarket, clothing, fuel expenditures, etc.

    Credit Card Minimum Payment Changes

    Pursuant to the Regulation on Making Amendments on Article 17 and Article 22 of the Regulation on Bank Cards and Credit Cards published on 17.12.2010; amendments have been made on regulations regarding the credit card minimum payment rate, limit increase and cash withdrawal transactions.

     

    Within the scope of the aforesaid regulation change; credit card minimum payment rates may vary according to the total limits of the credit cards hold by our customers and the start date of the credit card usage of our customers in the banking sector.

     

    Again within the scope of the same regulation change; certain restrictions have been applied on cash withdrawal and limit increase transactions depending on the payment amounts our customers shall affect by using their credit cards.

    1- The minimum payment rate for the credit cards issued as of 17.10.2012 must be determined in the following manner on the basis of the card limit:

    Minimum payment amount that is required to be paid cannot be lower than;

    • 25% of the period debt for credit cards with a limit up to TL 15.000,
    • 30% of the period debt for credit cards with a limit from TL 15.000 to TL 20.000,
    • 40% of the period debt for credit cards with a limit of TL 20.000 and above; and cannot be less than 40% of the period debt for newly issued credit cards from the first usage date until the end of one-year period and the bank shall determine the minimum payment amount provided that it shall not be less than these amounts.

    Customers who have been allocated a credit card first time following the date of 17 December 2010 shall be considered as new customers in the card system. For credit cards issued to these customers after 17 December 2010; the minimum payment rate applicable for a period of one year following the start date the card is first used in the sector shall be 40%. Upon the expiration of one year period, the customer’s minimum payment rate shall begin to be applied as at least 25% if the total limit of his credit cards with our Bank is TL 15.000 or below; at least 30% if it is between TL 15.000-20.000; and at least 40% if it is TL 20.000 or above.

    2- For the existing cards; an adaptation period shall be applied according to the limit ranges. During this time period, different minimum payment rates have been determined once every 6 months for cards within certain limit ranges. Excluding credit cards newly allocated in the banking sector following the date of 17 December 2010; the dates on which minimum payments shall change and the minimum payment rates to be applied on the basis of the existing TEB Credit Cards’ total limits are given in the below table:

    Credit Card Limit

    17.12.10 – 6th Month

    6th – 12th Months

    12th – 18thMonths

    18th – 24th Months

    24th – 30th Months

    30th – 36th Months

    36th Months-......

    Up to TL 5.000

    %20

    %20

    %22

    %22

    %25

    %25

    %25

    From TL 5.000 to TL 15.000

    %20

    %22

    %25

    %25

    %25

    %25

    %25

    From TL 15.000 to TL 20.000

    %20

    %22

    %25

    %28

    %30

    %30

    %30

    TL 20.000 and above

    %20

    %22

    %25

    %28

    %30

    %35

    %40

    3- Regulations on Cash Withdrawal and Limit Increase Transactions

    By the sixth subclause of Article 22 of Regulation on Bank Cards and Credit Cards; the cash withdrawal and limit increase transactions have been stipulated as given below.

    • The limits of the credit cards to which a payment up to 50% of period debt is made three times at most within a calendar year and the limits of this customer’s other credit cards, if any, shall not be increased until period debt is fully covered.
    • The limits of the credit cards to which a payment up to 50% or below of period debt is made three times at most within a calendar year shall be closed for cash withdrawal transactions until period debt is fully covered.

    Effective on 26 January 2012; our interest rate to be applied on credit card shopping and cash advance transactions shall be 2.34%, and our delay interest rate shall be 2.84%. 

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