Use of credit cards : getting a loan from credit cards that give grace period

Fatawa Question

Aslamoalaeekum, I live in London and I am writing to humbly request your help on this issue. I hope you will know better on what Islam says on this one. I urgently need some money and I cannot find anyone to lend me money. I have some credit cards that give me some interest free period for shopping. I have a friend who has offered to help me in a way. He has a credit card machine in his shop and he is ready to swipe my card as if I am shopping in his shop. And then he will give me the cash back. The problem is that he is charged 2.5 % on all card transactions and he expects me to reimburse that amount to him. I am not sure if I will be acting within the limits of Islam if I reimburse him that amount. Please advise me on this issue if you can. Thanks a lot in advance and may God bless you. Allah Hafiz

Fatwa

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Publication Date

2009-07-28

Main Subjects

Financial and Accounting Sciences
Islamic Studies

Topics

• Islamic jurisprudence
• Credit cards

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-728385

• APA
• MLA
• AMA