charged citizen credit card

In the first 4 months of the year, the number of transactions made with credit cards reached 1 trillion 663 billion 469 million 430 thousand TL. When interest rates for consumer loans broke records, citizens took refuge in credit cards with 1.36 percent interest. Payments made by credit card rose 114 percent in April compared to the same month a year earlier, reaching 422.3 billion lira. With the expectation that prices will increase after the elections, citizens increased their spending on card purchases in the desire to meet their needs before prices rise.

IS EXTENDED EACH YEAR

While the number of credit card transactions in the first 4 months of 2023 exceeded 2.473 million, approximately 641.9 million of this was done in April. Compared to 2022, credit card spending has doubled in 4 months this year. While the number of transactions was 2 thousand 20 million in the first 4 months of 2022, this year it reached 2 thousand 500 million with an increase of 22.43 percent. Credit card spending, on the other hand, rose 124.2 percent compared to the first four months of last year and topped $1.6 trillion. The credit card expenses made in the first 4 months of this year and the expenses made in the whole of 2021 have already exceeded TL 141 billion 93 million.

Spend more on grocery shopping

According to the data published by the Interbank Card Center, in the first 3 months of 2023, an important part of the expenses made with credit cards were made in markets and shopping centers. In January, February and March, credit card spending in markets and malls, which was carried out by a wide margin compared to other spending groups, reached 200.59 million lira. Market expenditures were mainly made in March with TL 77 billion 118 million. This spending group was followed by the electricity, electronics, IT group with TL 35.119 million, and the service sector with TL 29.139 million.