The Ruling on Using Credit Card Installments
Machine translationRead the Arabic original
Question:
One of his questions, Shaykh, is about the ruling on using credit cards for installment payments.
Answer:
It is not permissible, because it is a riba (usury or interest) transaction. The card means that the company or bank gives you this card and undertakes to pay for everything you buy on your behalf with the bank's or company's money, and then collects it from you with an increase. So this is a riba loan. Yes.
The presenter:
May Allah reward you,
One of his questions, Shaykh, is about the ruling on using credit cards for installment payments.
Answer:
It is not permissible, because it is a riba (usury or interest) transaction. The card means that the company or bank gives you this card and undertakes to pay for everything you buy on your behalf with the bank's or company's money, and then collects it from you with an increase. So this is a riba loan. Yes.
The presenter:
May Allah reward you,
Source
نور على الدرب - الفوزان - 03/203 — archive.org (13:55)
The Arabic text is a machine transcription of the audio recording.