The Ruling on Credit Cards
Machine translationRead the Arabic original
Question:
The questioner Ibrahim says: Honorable Shaykh, I use credit cards, as they call them, PISA, during my travels and stays. What is the Shari'ah's view, in your opinion, of these cards? May you be rewarded.
Answer:
Credit cards are not permissible. By this, we mean that they pay for you, you buy with them, and they settle the amount on your behalf. This becomes a debt in your possession, which they recover with an increase. The increase may be at the time of payment or at the time of taking the card; they may take the increase in advance or take it later at the time of settlement. This is riba (usury or interest), and it is not permissible. Yes.
The questioner Ibrahim says: Honorable Shaykh, I use credit cards, as they call them, PISA, during my travels and stays. What is the Shari'ah's view, in your opinion, of these cards? May you be rewarded.
Answer:
Credit cards are not permissible. By this, we mean that they pay for you, you buy with them, and they settle the amount on your behalf. This becomes a debt in your possession, which they recover with an increase. The increase may be at the time of payment or at the time of taking the card; they may take the increase in advance or take it later at the time of settlement. This is riba (usury or interest), and it is not permissible. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، 7061- حكم البطاقات الائتمانية - الشيخ صالح الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.