Over Half of Istanbul Residents Struggle with Credit Card Debt, Cut Spending

More than half of Istanbul's population is unable to fully pay off their credit card debt, leading to significant cutbacks in essential spending, according to February 2026 data from the Istanbul Planning Agency (IPA).

The report reveals that 50.5% of Istanbulites could not clear their entire credit card balance. While 49.6% managed to pay their full debt, a substantial 28.8% only paid the minimum amount due. Another 7.5% paid an amount between the minimum and the total, while 4.5% paid less than the minimum. A concerning 9.7% were unable to make any payment at all.

This financial strain is compounded by rising perceptions of food prices. During the Ramadan period, 67.5% of respondents reported an increase in food costs, adding further pressure to household budgets. Consequently, consumption habits have seen a marked decline.

In the past month, 57.6% of Istanbul residents reduced their spending on dining out, and 51.9% cut back on clothing purchases. These figures highlight the growing financial hardship faced by residents, forcing them to curb expenditures and struggle with debt management. The contraction in consumer spending is particularly evident in non-essential items and even basic necessities like food.