The button has been pushed to limit credit card interest rates. The rate of 78% will get close to the consumer credit interest rate which is 24%.

- 21 / 05 / 2008 08:38

The button has been pushed to limit credit card interest rates. The rate of 78% will get close to the consumer credit interest rate which is 24%.

The parliament continues its activities for legislation among the debates on closing the party and early election expectations.

New preparations are on the way. One of these is the adjustment about credit card interest rates.

Credit cards given by banks became a problem three years ago and bank cards and credit cards law was issued. Bad loan increased 10 times.

The problem became a social blast and the ruling party decided to make a legal adjustment in this article.

The chairman of justice board, Ahmet Iyimaya, said: "today, consumer credit interest rate is 24% at most; this is 78% for credit cards. It is devastating for the users. We can not consider the reaction of the central bank and the bank union. We are determined to put a limit on the interest rate. This top limit may be slightly over the limit of consumer credit rate. This social problem should be overcome."