The free credit card that charges an increase upon delay
Machine translationRead the Arabic original
The questioner:
Peace be upon you. I have two questions for your eminence. First, regarding credit cards, some companies or banks in the West issue free credit cards, and if they are used, they begin to calculate a percentage increase if the amount is not paid within a month.
The Shaykh:
In the case of delay.
The questioner:
Regarding the delay, so if a person guarantees that he will pay, with Allah’s permission, without any percentage being charged to him, is this permissible?
The Shaykh:
No, because he has agreed to riba (usury or interest), because it is stipulated that if he delays, they will take an increase from him, and he has accepted this. This is a signature on riba, so it is not permissible. And as for the one who guarantees that he will meet the deadline, something may befall him; he may experience delay, or he may become lazy. Yes.
Peace be upon you. I have two questions for your eminence. First, regarding credit cards, some companies or banks in the West issue free credit cards, and if they are used, they begin to calculate a percentage increase if the amount is not paid within a month.
The Shaykh:
In the case of delay.
The questioner:
Regarding the delay, so if a person guarantees that he will pay, with Allah’s permission, without any percentage being charged to him, is this permissible?
The Shaykh:
No, because he has agreed to riba (usury or interest), because it is stipulated that if he delays, they will take an increase from him, and he has accepted this. This is a signature on riba, so it is not permissible. And as for the one who guarantees that he will meet the deadline, something may befall him; he may experience delay, or he may become lazy. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، محاضرات في العقيدة والدعوة-38-قضايا فقهية - 02|صالح الفوزان|العام|كبار العلماء — youtube.com (14:56)
The Arabic text is a machine transcription of the audio recording.