113 billion lira were spent with credit cards in markets and shopping centers.

113 billion lira were spent with credit cards in markets and shopping centers.

CHP Bolu MP and Member of the Parliamentary Committee on Industry and Commerce Türker Ateş noted that the use of credit cards has increased in low-income segments despite the increase in interest rates since June.

“These cards used by the poorest are at their limit. “So much so that with this calculation the minimum wage seems to be two months away,” Ateş said, noting that 113 billion liras were used on credit cards in markets and shopping centers in September.


Ateş said: “Following the latest increase in the Central Bank’s official interest rate above expectations, it was said that the cost of borrowing with a credit card will not increase until the end of the year. However, interest rates had already increased significantly in the last period. The slavery of the credit cards of the poor continues, who can even make their purchases by borrowing. Credit cards have reached their limit. “The rise in debt has also started to raise alarm bells due to the interest burden,” he said.

Referring to the government’s policies focused on suppressing domestic consumption under the name of fighting inflation, Ateş said:


“In the high inflation environment, citizens had increased consumption in recent months with concerns that price increases would continue. As a result of the post-June interest rate increases, consumer credit usage declined, and while the increase in individual credit card debt continued, it slowed.

CBRT data indicates that the use of low-limit credit cards has increased. After increasing income, the credit card with the lowest limit covers 25,000 TL or less.

These cards, used by the poorest, have reached their limit… So much so that with this account the minimum wage is 2 months away. Debts that cannot be paid and are left to interest also generate fear within the framework of the interest policy followed for this segment. It becomes difficult to spend even by borrowing.”


Ateş stated that, according to data from the Interbank Card Center, the highest credit card spending in September was made in markets and shopping centers, and in this context citizens used cards 263 million times for a total of 113 billion lire.

Ateş stated that credit cards were used 106 million times for a total of 32 billion lira for food expenses and 88 million times for various food purchases for a total of 45 billion lira, adding that the Total number of credit card transactions in September was 780 million. and the amount was 676 billion lire.

Bolu CHP inflation interest June consumer loan Parliament Central Bank Industry

Source: Sozcu


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