Ref: tij065/08
July 2008
Q: Most credit cards have a facility where a person is allowed to use credit upto a certain amount and if it is paid back to the back within 55 or 60 days etc then no interest is charged, however from the onset the client and the bank are fully aware that if the client fails to pay within that time limit then interest will be charged. Is it jaiz for the client to utilize this facility and pay in the money within the time limit?
A:
If there is an alternative available to the credit card by means of which one is able to purchase one’s requirements, such as the debit card or charge card, then the credit card should be avoided as it inevitably includes an interest clause. However, if one is unable to acquire ones requirements without the use of a credit card, then one may use the card provided it is done with extreme care and prudence so as to ensure that one does not have to pay any interest.
Ameer, Darul Ihsan Islamic Services Centre