Millions impacted: Credit card defense fee cut date clarified
Milliyet.com.tr has reported that credit card holders with a limit exceeding 100,000 liras will be subject to a 750 lira deduction, to be reflected in their accounts on the 5th day of January every year. This deduction will not be refunded, even if the card is cancelled. The question arises – will this fee remain constant or will it increase annually?
Economist Muhammet Bayram, speaking to milliyet.com.tr on this matter, stated that a bill will be presented to Parliament to collect the defense industry contribution of 750 TL from those with a credit card limit of 100,000 TL or more once a year. Similar contribution fees are also being planned for car purchases, sales, and title deed transactions.
In response, banks are taking measures such as loading points on cards, adding chip money, and bonus funds, in an attempt to shield card users from these contribution fees. However, these actions will not exempt cardholders from the payment.
With the current global political climate, it is crucial for citizens to understand the importance of supporting their country’s defense industry. The close proximity of war and challenges faced by Turkey in defense industry and technology underscore the significance of this contribution.
These funds will go directly to the defense industry, bypassing the Treasury. On the other hand, banks, as profit-seeking private entities, continue to increase card limits without transparency, charging late fees and interest to users.
The cut-off date for the credit card defense share has been clarified – starting January 5th, individuals with a card limit exceeding 100,000 TL will be charged the contribution fee. Any increases in limits post-January 5th will also incur the fee, which is expected to increase annually.
As citizens contemplate these charges, it is important to recognize the role they play in supporting the defense industry and safeguarding national interests.
