May you please clarify the ruling on transactions involving visa credit cards whereby the cardholder has to pay back the money he spends using this card within a certain period of time. If payment is made after the prescribed period then the bank will charge interest on late payment. Does this usurious clause invalidates the contract in its entirety or it spoils it in such a way that the contract remains valid, meaning to say if payment is made before the lapsing of the monthly period then it will be a valid loan which is not prohibit حكم بطاقة الإئتمان

Praise be to Allah, and may Allah’s peace and blessings be upon the Messenger of Allah, his family and his companions.

To proceed:

These types of credit cards are not permissible because they involve contracting on interest in the event that the money withdrawn is not paid back in time. This contract is not correct even if a person thinks that he will pay within the period in which interest is not charged. This is because agreeing or contracting on interest is forbidden even if a person is sure that he can avoid it.
And Allah knows best.

Your brother,

Dr. Khalid al-Mosleh

08 / 04 / 1425 AH