Credit Cards

  • What is a credit card?

    Credit card means that you have a credit at your bank. Even if you do not have any money in your demand deposits, you can purchase goods with your credit card. Your bank will pay these amounts for one month period on your behalf. You receive a statement every month from your bank.

    You may either pay the whole of the amount on the deadline or after paying the minimum amount to be paid as per your bank's appreciation, you may credit the remaining amount with a certain credit interest rate.

  • History of credit card in Turkey
    • The first credit card issued in Turkey is Diners Club (1968). Following the Diners Club, Türk Ekspres Havacılık ve Turizm Limited Company has entered into the market with "American Express" cards. These two cards have continued their activities without any rival until 1975.
    • After 1975, Eurocard, Mastercard and Access credit cards entered into the market.
    • By 1980, banks have also initiated the credit card usage and various types of products have showed up (gold, classic, etc.).
    • In 1984, Visa increased the momentum by establishing its office in Turkey.
    • In 1987, the first ATM entered into service. And again in the same year, other consumer products such as housing and vehicle loans have entered into our lives.
    • As of 1988, debit cards, invoice payments and investment instruments have started to be presented within the retail banking concept.
    • In 1990, BKM A.Ş. was founded. (By the partnership of 13 private and public banks in order to provide switch service)
    • In 1990's, bonus point earning system in respect to the amounts spent and choosing products from the catalogues with these points has been introduced to the customers.
    • The first electronic POS Terminal in Turkey was put into service in 1991.
    • In 1993, offices of Europay/MasterCard in Turkey were opened and card usage gained more pace.
    • In 1997, the first co-branded credit card was introduced to the market.
    • In 1999, the first multi-branded cards have entered into our lives. The consumer has also met the deferred credit cards. Also the catalogue and point earning practices have had a new shape and the features such as spending the points earned in contracted shops as cash have been presented to the market.
    • Today, the customers (both consumers and merchants) are widely provided with these products and services by 13 banks.
  • What is a chip card?

    It is a type of credit card featuring a secured microchip besides the magnetic stripe, where card details are embedded on.

    For minimizing the credit card counterfeiting and fraud, chip credit cards are started to be used among customers. In addition, by using PIN on POS for purchase transactions, it is intended to prevent others from using the cards in case they are lost/ stolen.

    For more information: www.chipandpin.com.tr

  • What is chip&PIN?

    chip&PIN is a new payment method that minimizes the risk of credit card fraud by preventing counterfeiting and loss/theft.

    In this method, the chip on the card reduces the risk of being copied. And the 4 digit PIN prevents others from using the card in case of loss or theft. For detailed information: www.chipandpin.com.tr

  • Suggestions for credit card fraud
    • Protection of PIN
      • You must remember that the card holder is responsible for the protection of the PIN. Do not share or reveal your PIN to anyone including bank staff.
      • Do not keep your PIN written on the card, in your wallet or bag. Otherwise, you will make it simpler for the thieves and purse-snatchers. Memorize your PIN and destroy the written documents on which you noted your PIN.
      • Ensure that your PIN does not consist of numbers that are easy to guess such as birth date, account-customer number, birth certificate number, sequential numbers, phone number or the workplace registration number.
      • While setting your PIN, avoid determining the same PIN used for other Internet services such as e-mail or messaging.
      • If you do not remember your PIN, request a new one or renew your card by calling your bank.
      • If your have more than one debit/credit card, prefer different PIN for each where possible.
      • Avoid online shopping via computers located in public and crowded places such as Internet cafes.
      • Do not ever reply e-mails requesting your credit card number, PIN or personal details, excluding the online shopping places. Banks make no PIN transactions or customer detail requests in any way by using e-mails. You should not also give information in telephone conversations unless you are the caller.
      • You should not reveal your PIN to anyone, including bank staff. You should refuse the help offer of the persons that come by you while using ATMs.
    • Protection of Card Details
      • After paying with credit/debit cards by using POS devices, make sure that you get your card back.
      • In credit card purchase transactions, look carefully the sales receipt issued by the merchant. If you are asked to sign the slip, you should check the details such as shopping date, card number, card holder's name-surname and the amount of shopping before signing and keep the copy you were given.
      • Do not ever reply e-mails that request your credit card number, password or personal details, excluding the online shopping places. Banks make no password transactions or customer detail requests by using e-mails. You should not also give the same type of information in telephone conversations unless you are the caller.
      • It's for your own safety not writing down your password but if you have to do so for the remembering purposes, you should keep your credit card and PIN in different places. Therefore, the usage of your credit card by malevolent people especially in ATMs is prevented in case it is stolen or lost.
      • Destroy your expired credit card after making it unusable and unreadable by others.
      • If you have not received your new credit card within the specified time, it may be stolen. Call your bank immediately and demand the status of your card.
      • Under no circumstances you should return the credit card that you have received by delivery companies to the person that introduces himself/herself as the courier.
      • Online shopping via computers located in public and crowded places such as Internet cafes may likely be dangerous for your credit card's safety.
      • The cases in which the credit card number and the expiration date are sufficient for the sale transactions by mail/phone (a shopping system allowing the merchants to provide products and services to the credit card users through newspapers, brochures, television and catalogues) and Internet transactions where the consumers are not required to leave their places and in cases where physically swiping the credit cards from POS devices is not required, bring along with the high risk of counterfeiting. If you use these methods for shopping, you must prefer secure companies.
    • Protection of ID Details
      • Be also cautious against the possibility of your trash be searched by information thieves. Tear your documents with personal information well such as statements, slips, ATM receipts, credit card applications or copies thereof, insurance forms, credit offers and make them unreadable. And also do not leave your documents that include personal information in places that are easy to reach at home.
      • Take care for your statement periods. If your statements do not arrive in time, follow up with your bank. A non-received credit card statement might mean that it is stolen by an ID thief and that your address is changed.
      • In case there is a change on the details such as the address, phone number or workplace given during your credit card application, inform your bank in 15 days at the latest.
      • Do not reveal your personal details or card number to unknown people on the phone, in e-mail messages and Internet unless you are the caller.
      • Do not ever reply e-mails that request your credit card number, PIN or personal details, excluding the online shopping places. Banks make no PIN transactions or customer detail requests by using e-mails.
    • Suggestions for Statements and Payments
      • You should follow up your statements according to the date of balance of account.
      • Keep your slips until you receive your statement. Compare your statements and slips. In case there is a transaction overcharged or not realized by you, contact your bank as soon as possible.
      • In case the statement fails to arrive due to delay in the mail service, in order not to miss your payment date, you have to instruct the bank to regularly send the statements to your e-mail address or fax number if available. Additionally, without waiting for the receipt of the statement by mail, payment deadline should be noted down somewhere and at least the minimum payment amount should be paid until that time.
      • If you have automatic payment authorization for your debt, you should make sure that you have enough money in your account for the realization of the statement.
      • In case there is a change on your previously given address for statement, you must inform your bank within 15 days at the latest.
      • You must pay regularly and check monthly credit card statements carefully each time.
      • You must not overspend for your ability to pay with credit card and remember that your card may be cancelled by the bank in case the delay in your pay-backs continues (when the minimum amount to be paid is not paid for 3 months in a row).
      • You must care not exceeding your card's limit. Otherwise, you may be obliged to pay an interest for exceeding the limit and face problems for not being able to use the card in a critical moment.
      • Carry and secure the cards that you really need.
      • Expenditures may be realized by card for avoiding the risk of carrying cash.
      • In case you need, you may also use your credit card for cash withdrawal. However an interest is charged for cash withdrawal. Charged interest rates vary depending on the bank and the interest rates and interest calculation methods are explained for the consumers on the statements.
      • No commission collection shall be in question while using the credit card in Visa and MasterCard member merchants. If such a request is made, no additional payment must be done and the matter must be informed in written form to the Customer Services Department of the Card Issuing Bank, giving the name and the address of the merchant.
      • Customer Services of the banks giving 7/24 service must be always contacted for the problems on credit cards and debits.
  • WHAT SHOULD BE DONE WHEN YOUR CARD IS LOST OR STOLEN?
    • In the event that your card is stolen or lost, immediately inform your bank about the situation. For emergency cases, note down the phone number of your bank on an easily accessible place. Ask for the cancellation of your card by immediately calling that number as soon as you notice that your card is stolen or lost. For the call center numbers of the banks: http://www.chipandpin.com.tr/en/linkler.html
    • If your certificates such as birth certificate, driving license, and passport are stolen or lost besides your credit card, in order to prevent fake applications, immediately inform the police or the office of the public prosecutor on the matter and have a record drawn up.
    • In case your card is detained by the ATM, consult the branch immediately or inform your bank.
    • Refuse the offers of people intending to help you while using the ATM.
    • Your liability in such a case is limited to TRY 150, 00 of the expenses made without your consent within the period starting 24 hours before your notification. Consult your bank to enjoy an additional option to have the remaining risk insured as well.
  • Debit Cards and Credit Cards Law

    In accordance with the new Debit Cards and Credit Cards Law no. 5464, cardholders should pay attention to the following issues:

    • You shall be responsible for the usage of the cards since the moment you sign the contract and receive the card (when the intangible card number is learnt).
    • As soon as you receive your card, remember to sign the signature line on the back of the card.
    • If asked by the merchant, you are obliged to show your ID during payment.
    • Including discount periods, your payment shall be accepted in cases when you intend to pay with the card independent from the amount at any merchant site that is working with a bank. In case you notice a merchant acting otherwise, you may report that merchant to the bank it is working with.
    • Take any precautions to safely protect your PIN and prevent others from using them. Despite all these, if your card is lost, stolen or used without your personal consent, immediately inform the issuing organization/bank. Your liability in such a case is limited to 150. 00 TL of the expenses made without your consent within the period starting 24 hours before your notification. Consult your bank to enjoy an additional option to have the remaining risk insured as well.
    • Remember that you shall always have the right to cancel your cards or contract by informing the banks at any time.
    • You must inform the issuing organization in 15 days for not having an interruption in communication on the address changes such as moving/ job change.
    • Control your statements carefully. If the transactions realized with your card do not belong to you or there are duplicated records, you may file an objection with its reason to the card issuing organization within 10 days as of the payment deadline. Even if the statement that is not objected it becomes final, your right of action continues.
    • Take care of making your payments regularly and timely. Remember that you have to pay minimum 20% of the debt each month. In case you fail to do so, you will have to pay the amount charged with the default interest rate stipulated in the contract for the unpaid amount.
    • In case you fail to pay the minimum amount of your credit card debit for 3 months in a row, you will be informed and if you continue doing so for the following month, all your cards that belong to the issuing organization will be cancelled.
  • Suggestions for online shopping with credit cards
    • Security of online shopping site must be approved with national/ international certificates.
    • Your card must be from one of the banks included within the security system of the national/ international card organizations.
    • Even if the logo and the name of the bank are used, you must not reply e-mails and enter websites that request your personal details.
    • You must avoid shopping using computers in public and crowded places such as Internet cafes.
    • Downloading file types with .exe, .com, .vbs, .jpg extensions from not trusted websites may be risky.
    • Against the increasing virus threats in Internet, you must install antivirus software on your computer.
  • Contributions of credit cards in terms of economic growth
    • Reduces the need of cash circulation, facilitates registering the economy and prevents the informal economy.
    • As a result of credit card shopping, all money transactions are registered into the economical system and the commercial activities revive thanks to the accelerated flow speed of savings-investments.
    • General economy saves paper thanks to the credit cards (since the transaction cost of cards is less than 1/3 of the cash) and savings are made in GDP.
    • Using credit cards instead of cash both reduces the bureaucracy, and allows consumers to experience a simple purchasing process and also brings transparency by controlling the expenditures.
    • Brings the consumers into the banking system and provides the possibility of shopping and cash withdrawal anywhere in the world.
    • Member merchants increase their number of customers and enlarge their business size.
    • Merchants make cash in a short time in return for the products or services they provided.
    • Merchants discharge themselves from the liability and risk of having idle money in the cash.
    • Credit cards eliminate the risk of lost or stolen that comes along with carrying a lot of money.
    • The consumer both profits from buying in advance and also paying afterwards by using credit cards.
    • Fulfills the cash need without letting anyone to borrow money from anyone in cases needed with cash withdrawal facility.
    • Instead of viewing the payment transactions one by one, the consumers view their statements all-in-one while examining them.
    • Consumers may purchase flight, train, bus, concert, match, theater or movie tickets or various services via Internet, mail/phone order and request the delivery made to their addresses.
    • The value of a good or a service received via "First spend, then pay" advantage, may be purchased without delaying the needs and the payment may be made in a deferred time.