Credit cards in Turkey | Types, Benefits, & How to Get Them

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  • Post last modified:November 18, 2024
  • Reading time:16 mins read
  • Post category:Other

Credit cards are an essential part of modern life in Turkey, offering convenience and financial benefits. Whether you’re a resident or a visitor, understanding the options available to you is crucial. This guide will break down everything you need to know about credit cards in Turkey, including options for individuals and businesses.

Types of Credit Cards

Turkey offers a diverse range of credit cards to suit various needs:

Virtual Credit Cards

Virtual credit cards are a digital alternative to physical cards, providing an extra layer of security for online transactions. They are linked to your existing credit card but have a specific limit and usage period. This way, you can shop online without revealing your actual card information.

Benefits of Using a Credit Card

  • Installment Purchase Option: Many businesses and online retailers offer installment plans, allowing you to spread out payments and manage your finances better.
  • Points and Miles Earning: Earn rewards on your spending, opening up opportunities for discounts and free travel.
  • Urgent Cash Needs: Access cash advances, though it’s important to be aware of the associated fees and interest rates.
  • Secure Shopping: Enhanced online security features like virtual cards and 3D Secure authentication protect your transactions from fraud.

Getting a Credit Card

here are the steps of how to get a credit card in Turkey:

💳
1

Choose a Bank

Select a bank and card type that matches your spending habits and financial goals.
⚠️ Compare different bank offers
⏱️ Take time to research options
📝
2

Application

Apply online, through mobile banking, or in person at the branch.
⚠️ Fill all fields carefully
⏱️ Processing: 1-2 days
📋
3

Required Documents

🆔 ID card
💰 Proof of income
🏠 Proof of address
⚠️ Original documents required
⏱️ Verification: 2-3 days
✅
4

Evaluation

The bank will assess your credit score and financial history.
⚠️ Credit check required
⏱️ Review period: 3-5 days
📑
1

Required Documents

🛂 Valid passport
📝 Residence permit
💰 Proof of income
🔢 Turkish tax number
⚠️ Documents must be translated
⏱️ Processing: 3-5 days
ℹ️
2

Bank Policies

Check with the bank about their specific requirements for foreigners.
⚠️ Requirements vary by bank
⏱️ Verification: 2-4 days

Banks Issuing Credit Cards to Foreigners

Several banks in Turkey issue credit cards to foreigners, including:

  • Garanti BBVA
  • Türkiye İş Bankası
  • Yapı Kredi
  • Akbank
  • VakıfBank

Best Credit Cards in Turkey

The best credit card for you depends on your individual needs and spending patterns. Here are some popular and advantageous options:

  • Garanti BBVA Bonus Card: Offers extensive partner businesses and bonus points for various purchases.
  • Yapı Kredi Worldcard: Earning Worldpuan points for rewards, and comes with various promotions.
  • Türkiye İş Bankası Maximum Kart: Earning MaxiPuan points and providing installment options.
  • Akbank Axess: Earning Chip-para points and offering numerous promotions.

Using Foreign Credit Cards in Turkey

Visa and Mastercard credit cards issued by foreign banks are widely accepted in Turkey. However, American Express might be less readily available. Remember to check with your bank for potential international transaction fees.

Commercial Credit Cards

Definition and Features:

Commercial credit cards are specifically designed for companies, issued based on their business accounts. These cards provide high credit limits depending on the company’s financial data.

Key Advantages:

  • Instant Installment Purchases: Replace checks and drafts with immediate installment options for business expenses.
  • Cash Advance Availability: Access cash for business needs.
  • Minimum Payment Flexibility: Pay just 20% of the total balance, offering more financial flexibility.
  • Expense Tracking and Reporting: Track business expenses easily and efficiently for accurate financial reporting.
  • Convenient Payment Options: Simplify invoice and tax payments.

Usage Areas:

  • Business Expenses: Covers various business expenditures, including accommodation, travel, fuel, office supplies, representation, and entertainment.

Eligibility and Application Requirements:

  • Businesses eligible to apply: Limited liability companies, sole proprietorships, SMEs, and any business with a commercial account at the bank.

Leading Commercial Card Options:

  • Akbank: Offers Axess Business and Wings Business cards, featuring a 25% minimum payment rate and cash advance options.
  • Garanti BBVA: Provides Bonus Business Card, Shop&Fly Business, Miles&Smiles Business Card, and Corporate Card.

Special Features and Opportunities:

  • Installment Options: Extend payments up to 18 months.
  • Partner Business Discounts: Benefit from exclusive discounts with participating businesses.
  • Points and Miles Earning: Accumulate rewards on business spending.
  • Automatic Payment Instructions: Set up automatic payments for recurring expenses.

Restructuring and Payment Options:

  • Restructuring Support: Access restructuring options for companies facing temporary financial difficulties.
  • Flexible Installment Options: Benefit from flexible installment plans to manage payments effectively.

Special Cards

TEB She Card:

  • Designed specifically for women.
  • Extra bonus on clothing, hairdressing, and cosmetic purchases.
  • Installment advantages on healthcare expenses.

Alternative Payment Methods

  • Blocked Deposit Credit Card: A specific option for foreigners, this card allows you to use up to 80% of the amount blocked in your account, providing access to standard credit card features.
  • Wise Card: Offers low conversion fees and zero transaction fees, making it an ideal choice for international payments and multi-currency spending.

By understanding the nuances of credit cards in Turkey, you can navigate the financial landscape with ease and benefit from the various features and rewards available to you.