A difficult period begins for those with credit card debt. Experts point out that changes and new regulations in credit card use negatively affect citizens.
Changes in Credit Card Application
- Interest Rates Increased: Due to increasing interest rates, it has become difficult to get a loan and repayment amounts have increased.
- Installments Increased: Maturities and amounts in loans were reduced, and payment conditions became more difficult.
- Interest Payments Increased: Loan interest rates rose, leaving debtors in a difficult situation.
- Credit Card Interest Rates Increased: Installment options were restricted and interest rates increased.
- Minimum Payment Amounts Increased: Minimum payment amounts have increased, negatively affecting debtors.
Experts recommend that credit card users pay at least 40 percent of the minimum payment amount and, if possible, pay off the debt completely. They also emphasize the importance of keeping credit card usage to a minimum.
It is warned that difficult times are ahead for those who pay less than 40 percent of the minimum payment amount and those who postpone the debt.