Credit Cards: Types and Fiqhi Characterisation

Abstract

Today's credit cards play a key role in facilitating new transactions, are to give the bank to the client a document includes a balance that can take money and pay the price is committed to repay in installments, Its first appearance was in 1914 when banks appeared in America, They have many types with different considerations in terms of advantages, The issuer and how to deal with it and others  and others,The holding of cards in its sections and objectives is considered a new contract on Islamic jurisprudence Cannot be included in the overall picture under one contract, but is a complex contract of several decades Contracts in the relationship between their source and holder consist of three contracts: bail, lending, agency, In the relationship between the source and the merchant consists of two contracts: the guarantee and the agency, In the relationship between the cardholder and the merchant, the sale or lease is governed by the nature of the contract between them, As for its jurisprudential ruling, what the bank takes from the customer is a fee for the issuance and renewal of the card and when withdrawing the cash for his fees and administrative costs, this is permissible and nothing in it, Because it is in exchange for the apparent benefit of facilitating purchasing, cash and other services, but it is stipulated that this commission is reasonable for these services, If the condition of payment and payment is absolute or when the payment is delayed, that condition is invalid, so that this transaction is null and void because it is a Riba that is haraam, Alternative solutions for delay penalties are the debtor's eyesight if he is insolvent, the cancellation of membership, the withdrawal of the card, the recourse to the judiciary and the charging of the expenses of the dispute, Or the publication of the name of the client in a black list deterrent and Neglect and for the purchase of gold and silver powered if it is achieved by the immediate arrest is permissible, but if not achieved so it is not permissible to buy gold and silver.