If you are interested to know about charge card, and what is charge and what are its requirements and what is the command to use then this article is for you then let's know about charge card in detail.
What is a charge card?
A charge card is a card issued by a financial institution. Those who are interested in avoiding the hassle of paying cash in financial transactions accept this card by paying a certain amount of charges. The cardholder does not have any account with the institution. The card recipient has an agreement with the institution that if the recipient uses this card to purchase services or goods, the institution will pay the price on its own behalf; which shall be the liability of the bearer as a loan. The carrier will then repay the loan within the specified time frame. So by using this card the carrier takes loan from the institution. Which must be paid within the deadline. The original contract does not mention the payment of interest if the loan is not repaid within the specified period. But in reality, if there is an exception to this, the interest has to be paid at a fixed rate.
Requirements for use of charge card
Charge cards are very important for risk-free and easy transactions. Through which the necessity of using this card is understood. Some important points are highlighted below:
1. Security of money. Using this card as a medium for transactions can save you from various misdemeanors including loss of money, theft and robbery.
2. Easy exchange mode After purchasing goods or services using this card, the exchange value can be paid very easily. Through this paper money can be saved from calculation and calculation.
3. Mental Punishment Provision: Since the possibility of money theft, robbery and other dishonesty is less in using this card, mental punishment is available in using this card.
4. Karje Hasana has a policy of using this card, if the debt is paid within the stipulated time, no interest is charged. So if you follow this principle and use it, you can see a good system of interest free loans.
Is it permissible to use charge card?
As we know some information about charge card and its requirements now we know the provisions of using charge card.
Use of charge card is permissible subject to the following conditions.
1. The user will make every effort to pay the dues of the organization within the stipulated time. In no way should the time of payment of the debt be exceeded.
2. Under no circumstances should the card be used in any way contrary to Shari'aBe sure not to use it.
3. If the requirement is fulfilled by Debit card then as much as possible do not use this card.
Source: Fatawa Usmani: 3/354.
Conclusion
Dear reader today we have come to know some information about charge card and know its requirements and its usage provisions. Comment how you liked this article. Thanks for reading the entire post.
