Channel: Faith IQ
Is it permissible to use a prepaid credit card?
What differentiates a prepaid credit card from a regular credit card is that you will add money to your credit card in advance before you actually use it. And in such situations people do so in order to avoid the interest. And this is what we actually advocate for, you should try to avoid interest as much as possible. So in such situations, it is completely permissible to use a prepaid credit card where you will only be using the money that is on the card in order to avoid interest. And this is what we encourage people to do. Now, when it comes to regular credit cards, we encourage people to use them only on a need by need basis. So someone that needs to rent a car, someone that needs to
go to a hotel where they need a guarantee, then in such situations, credit cards are permissible to use with the conditions that you have the money to pay it all ready. Do not spend your credit card or use your credit card if you do not have the money to pay for it in advance. And then number two, make sure you set a reminder for yourself to pay your credit card on time so that you avoid the interest payments and unless Pinewood Allah knows best. Subscribe to this channel, share this video and click on the bell icon so that you can be notified with every new video at faith IQ