I have a credit card. Do i need to make payments in full always to avoid being charged interest OR can is it ok for me to make minimum payments and be charged interest?
2007-09-05 16:28:15 · 4 answers · asked by Inquisitive-me 1 in Business & Finance ➔ Personal Finance
It is always best to pay in full rather than getting eaten alive by interest charges.
2007-09-05 16:34:15 · answer #1 · answered by Doc Hudson 7 · 0⤊ 0⤋
Dealing in interest, both accepting it and paying it, is haram. We have to do everything we can to avoid having anything at all to do with it.
Of course, it's prohibited for Christians and Jews, as well.
2007-09-06 00:06:09 · answer #2 · answered by HayatAnneOsman 6 · 2⤊ 0⤋
I am not of that faith. I know some people who are. My understanding is interest is not allowed in most sects. If that is part of your core belief, then you should pay in full each month. Paying in full is not limited to Islam.
Feel free to talk to your religious teachers.
2007-09-05 16:36:01 · answer #3 · answered by Jeff H 5 · 1⤊ 0⤋
Coming back to your original question, yes interest or "sood" as it is called in Islam, is haram.
2007-09-05 16:35:40 · answer #4 · answered by Riya Layne 3 · 2⤊ 0⤋