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0% Credit cards

Answered as per Hanafi Fiqh by Askimam.org

Please advise if the following situation would be permissible in Islam-

There are 0% money transfer credit cards that allow you to borrow a fixed amount of money (£20k for example) from the credit card straight into one’s bank account. This £20k can be repaid interest free unto a maximum of 12-24 months depending on the card issuer. However, there is a one off fixed bank fee to get this interest free loan. The person is quite sure that he will be able to return this £20k well before the deadline.  The intention of borrowing this £20k is to expand one’s business. Is this allowed?



In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

In order for us to advise, forward us the terms and conditions of the credit card company and the once-off fixed bank fee.

You may email your clarification to: admin@daruliftaa.net

Ref: Ahmed-Ur-Rahmaan Patel

And Allah Ta’āla Knows Best

Ahmed-Ur-Rahmaan Ibn Mufti Mohammed Patel (Rahmatullah Alaih)

Student Darul Iftaa

Azaadville, Johannesburg, South Africa

Checked and Approved by,
Mufti Ebrahim Desai.


This answer was collected from Askimam.org, which is operated under the supervision of Mufti Ebrahim Desai from South Africa.

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