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In the Name of God بسم الله

Rulings On Cash Advance Transactions?

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Salam

 

What are the rulings on making Cash Advance transactions from you're credit card, also when considering that there is an annual interest fee for the amount you withdraw?

Edited by Al-Najashi
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Salam

What are the rulings on making Cash Advance transactions from you're credit card, also when considering that there is an annual interest fee for the amount you withdraw?

I don't know of anything specifically about cash advances, but borrowing with interest is definitely haram unless it is a serious necessity. If you use a credit card and pay the balance in full each month, you can avoid paying interest.

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Im not sure and would like to know the answer as well. I currently use a debit and credit card- the credit card has a limit but I only pay 5% of what i spent from it at the end of each month and the bank takes another 1% interest. If I were to choose the option of paying 100% there would be no interest but paying the 5% is much easier seeing that I use the credit card a lot. 

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The :Riba as stated in the :Quran is not the interest charged by the banks .

It's the cash you use ,as this is the real instrument of :Riba , but they won't tell you this .

Salam

I was hoping you would respond. Can you please elaborate on that? I have been told it is haram to make these transactions even if the banks received the interest and not me.

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Salam

I was hoping you would respond. Can you please elaborate on that? I have been told it is haram to make these transactions even if the banks received the interest and not me.

salam . 

I was hoping you was hoping that I was hoping to respond.

The definitions based on the :Quran of :Riba and money are different to those used today.

No one has really clarified this nor will they.

It's a hush hush topic atm, probably because everyone is indulging in it , and any attempt to correct it results in being nuked or bombed back to the stone age.

I have covered this in detail at my other posts floating around somewhere.

But simply put , the money you use today is not the money defined in the :Quran , that is lawful.

It is a credit note or a debt instrument traded in the financial markets .

It is printed by private banks disguising as public or government bodies .

It is created out of thin air , or in the electronics sense , created on a screen by pressing merely digits.

It is not backed by anything of value , e.g.. gold , sliver or livestock.

The central bankers create such a debt instrument  to steal the nations resources and enslave it's citizens because the nation can never repay the interests on this facility.

This is the worst form of :Riba .

But everyone has missed the pink elephant in the room , by looking at the "interest" component of the credit facility which really is a smoke screen .

 

ws

Edited by :Sami II
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Im not sure and would like to know the answer as well. I currently use a debit and credit card- the credit card has a limit but I only pay 5% of what i spent from it at the end of each month and the bank takes another 1% interest. If I were to choose the option of paying 100% there would be no interest but paying the 5% is much easier seeing that I use the credit card a lot.

Dear sister, don't spend more than you can pay back each month. Forget halal or haram, debt is enslavement. You don't want it if it can be avoided.

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Bismillaah ir Rahmaan ir Rahiim   As salaam alaykum, everyone. Here are two video's regarding money, debt, credit etcetera. It can be a very complex issue:

 

 Money As Debt - Full Length Documentary

 

 

 
 
Wassalaam.   Faithfully999
 
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