Ruling on Obtaining a Credit Card and Purchasing through It
Financial Transactions,Buying and Selling,Ruling on Obtaining a Credit Card and Purchasing through It
Fatwa No : 82237
Ruling on Obtaining a Credit Card and Purchasing through It
معاملات / مالی معاوضات / خرید و فروخت
Ruling on Obtaining a Credit Card and Purchasing through It
Assalamu Alaikum! May I obtain a credit card (facility of purchasing on deferred payment) under the following conditions?
1. At the beginning, there is no joining fee or annual fee.
2. I pay the amount within fifty days (either in cash or in the form of purchases), and in this case, I do not have to pay any interest.
3. However, the member is required to sign a form and accept that if the payment exceeds the fixed period of fifty days, then interest will have to be paid.
الجوابُ حامِدا ًو مُصلیِّا ً
Obtaining a credit card and making purchases through it is permissible, on the condition that payment is made before interest becomes due. However, since in this arrangement the repayment of the loan is linked with the possibility of interest in case of delay, there is a strong likelihood of falling into interest. Therefore, if there is any other possible alternative, it should be preferred.
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