QUOTE(JamesBotak @ Aug 11 2017, 08:49 PM)
No offense but do you mind sharing which part of the card isn't shariah compliance?
As far as I know, aside from Islamic cc can't be used for non-halal transactions, both conventional and Islamic cc charges interest but for Islamic credit card, they call it "profit charge" instead of interest. They methodology is the same as in, if you don't pay your cc in full, interest or profit charges will be charged accordingly (interest charged depends on monthly repayment, IINM the range is from 13 ~ 18 %).
However, even if it's a conventional cc, but you pay your cc in full, you won't be charged any interest hence it's considered interest (riba) free. Isn't it better to pay outstanding amount in full to get away from interest in the first place regardless of card type rather than getting an Islamic card which has "profit charges"?
It's just my opinion. Sorry for being OT.
No problem..that the purpose of forum...sharing our knowledge
first of all..i have little knowledge about banking and finance
As far as i know..
the system applied between islamic and conventional is totally different..including the interest, dividen, 'akad'
Yes..for now i will pay all with full amount.. but i dont know someday i will have financial problem that required me late payment for my credit card, and that time all the issue will come..
and islamic finance also concerned regarding money mixed with non compliance syariah money..thats the most important thing in islamic financing
That from my understanding...sorry if wrong info...