Various Types of Credit Cards

Credit cards are part of some form of financial cooperation card. Credit cards are divided into two:

1. Credit Card Loans Can not Be Updated (Charge Card)
Among the most prominent feature of this card there was cover the total funds withdrawn in leg-hood in a certain time allowed, or a portion of the funds. Normally the time allowed for no more than thirty days, but sometimes can reach two months. If the carrier card to pay late in the time allowed, he would be fined the bridge. And if he refuses to pay, its membership is revoked, the card is pulled back and raised the issue to court.

The occupation of Fiqh Issues Regarding Credit Cards.

It is clear that the law against something that is based on the results of the perception of these things. As detailed as what our knowledge on various issues related to credit cards, will determine seat tailplane us in trouble against a variety of transactions, known in Islamic jurisprudence and an explanation of its laws, lawful or unlawful, and to determine the various alternatives that prescribed when the results of research confirms.

This credit card-related form of three things that we will consider sequentially as follows:

First: Linkages Between the card with the issuing bank the Parties ‘Spending Card Transactions’.
Many studies have jurisprudence surrounding this relationship. Many have opinions that were born around the issue in various Fish Research Institute of the existence of this card as a loan from the issuing bank, or as a guarantee for implementing the various commitments of others, or become a guarantor to relate with others.

Possible combination of collateral, guarantors and the loan that’s closest to the theory to review this transaction. Because that is the real purpose of the existence of the card. Because before use, the card is a guarantee, and the promise of a loan and guarantors. But after being used in the real sense and the bank has to cover costs incurred to represent the client, that promise has become a reality so that it becomes a loan and guarantors in the real sense.

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Tags: Banking Services, Business, Credit card, Credit history, Debt, Financial Services, Issuer, Loan

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