Regulations that stretch the installment limitations on purchases made with a credit card have come into force. The number of installments made to a credit card was raised to 12 months in some areas.
According to the regulations published in the Official Gazette yesterday, the number of installments in shopping and cash withdrawals by a credit card, including the possibility of postponing the payment, will not exceed 12 months. In the purchases made in jewelers, the installment period will be four months while electronics and computer purchases will offer installment options up to six months.
Expenses at airlines, travel agencies, transportation, accommodation, health and social services; spending on clubs and associations; and tax payments will come with installment options up to nine months. Telecommunications, direct marketing expenses, expenses incurred abroad, food, alcoholic drinks, fuel, cosmetics and office supplies spending will not be subject to installments.
Existing debt on credit cards will be split into installments up to 72 months. Each installment amount per month will be added to the minimum payment of that month.
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