Assalamu Alaikkum,My questain is regarding Credit Card,
I Have a credit card From RAK bank, UAE, the card is free of charge, and i can spent upto certain amount of money,every month on a certain date the statement for the spent amoun till that date would be generated, and within the due date
1) if i pay full amount of money which i spent, i do not have any fees or interests
2) If I make only a part payment of the full amount i would have a interset on the remaining money, which would be calculated monthly
3) If I am late for the payment than due date I would have a late payment fee,
1,2,3, which are allowed for me (Halaal)???
second part, the bank will give me 1% amount which i spent everymonth back(Cash back) if my purchases for the month is less than 10,000 Dirhams, if it is between 10,000-25000 the bank will give
me 2% of the amonut which i spent ,
Say if i spent 9000 DH on this month i will get 90 Dh back, or i spent 11,000 Dh i will get back 220 Dh,
Can I take this money, Is it halaal???
Answer:
In the name of Allah, Most Gracious, Most Merciful
Assalaamu `alaykum waRahmatullahi Wabarakatoh
1.It is permissible to use the credit card facility on condition you make payments timeously and avoid paying interest. The late payment fee is also interest.
2.The 1% or 2% given to you by the Bankin lieu of you spending an X amount of money is halal.
And Allah Ta’ala Knows Best
Wassalam
Mufti Ebrahim Desai Darul Iftaa, Madrassah In’aamiyyahOriginal Source Link