Question

Using a credit card and paying Riba

335

Question

I have a Master Card (credit card) and the practice is to deduct every amount I use in three months (33% each month ). Is that halal or Haram (Riba)?

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Accepted Answer

All perfect praise be to Allah, The Lord of the Worlds. I testify that there is none worthy of worship except Allah, and that Muhammad is His slave and Messenger.

This transaction is forbidden as it is taking a loan with Riba (usury and/or interest) and this is forbidden according to the consensus of the scholars.

The Riba in this transaction is that you borrow an amount of money to fulfill your needs and then you are asked to pay it back with some interest if there is delay in repayment. Indeed, any loan that includes giving interest is a loan with Riba and it is forbidden.

Allah knows best.

Fatwa

Using a credit card and paying Riba

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Answer

Related Fatwa

Using Domain Name That Was Purchased with Credit Card

His Roommate Insisted on Him So He Helped Him Get A Credit Card on Riba-Based Conditions

Using Credit Cards Without Paying Interest

Using credit card as part of work duties

Using credit card to pay for Hajj and 'Umrah

Keeping a credit card to maintain a good credit score

Visa Islamic Credit Card of SIBL in Bangladesh

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