Non-interest charges of credit cards : handling charges in credit cards

Fatawa Question

As-Salamo Alaikum. I have received an offer from one of the credit card companies with 0 % APR for any purchases or cash advance for 8 months provided that I would pay the full amount before the end of the 8 months. There is a transaction fee of 3 % of the total amount of the balance with max. of $ 40. They account this transaction fee to be towards administrative expenses. My question is whether or not this deal is Halal with the existence of the transaction fee. Jazakum Allah khairan.

Fatwa

Click hereto view more

Publication Date

2002-11-27

Main Subjects

Economics & Business Administration
Financial and Accounting Sciences
Religion
Islamic Studies

Topics

• Banks
• Islamic jurisprudence
• Islamic economics
• Loans
• Administrative fees
• Credit cards
• Transactions
• Commissions

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-723899

• APA
• MLA
• AMA