Transactions & Dealings >> Interest & Insurance

Question # : 809

United States of America

Assalam-o-Alaikum; 1.What are isalmic laws concerning use of credit card? 2. If I have credit card and I pay the whole amount at the end of the month, it does not incur any interest, is it permissible to carry credit card?

Answer : 809

Published on: Jul 2, 2007

بسم الله الرحمن الرحيم


(Fatwa: 667=630/B)


 


Buying credit card and using it is lawful in itself provided there is an already open account from where the creditor can receive his debt. And, if there is no balance in the account to pay to the creditor then the credit card should be used keeping this thing in mind that the issued bills are paid within their period so that they incur no interest, since paying interest on credit is also Haram (sternly prohibited).



Allah knows Best!


Darul Ifta,
Darul Uloom Deoband

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