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Debit or Credit?

Debit or Credit?  

55 members have voted

  1. 1. Which one is more the rock?!

    • Debit
      46
    • Credit
      9


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Riba=major sin= credit=bad

Don't say I did not warn you on Yamul Qiyamat.

Those of you who voted Credit best be the nonmuslim members of the MM community.

 

It depends on how you use it. If you pay off the charges you make on it before the interest is added on, I don't see how that is a problem.

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debit always!

frm buying a car to house (I rent , dun care if i wont able to pay) ? even so called Islamic finances aint Islamic enuf if u use basic logic of finance Shariah wise

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Debit and credit for sure. Credit cards are MUCH safer if you have self-control and will use them wisely.

 

Guys, please do NOT use your debit card everywhere! It is NOT safe at all. If anyone gets your hand on the card or the number, all your money can be gone very easily...or if they buy things with it, its much harder to get the money back.

 

Also, with credit cards, some companies like Bank of America will issue you a temporary credit card number that you can use for online shopping. The number links to your main account (but only the user knows this) and expires after a while so no one can take advantage of it.

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I've been using debit cards ever since I was younger, and I find that it's the most Halal way to go, and it definitely keeps you in check.

 

HOWEVER. In this day and age, we need to do things online, such as shop, pay bills, pay for classes, etc, and usually those transactions depend on credit cards. Even my PayPal is linked to my credit card, and there's nothing I can do about it, because not many debit cards can be linked to online payment accounts. Credit cards are a good bet if you're really on top of your finances. It makes things easier. But at the same time, if you let one payment go, you can be in the red.

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I've been using debit cards ever since I was younger, and I find that it's the most Halal way to go, and it definitely keeps you in check.

 

HOWEVER. In this day and age, we need to do things online, such as shop, pay bills, pay for classes, etc, and usually those transactions depend on credit cards. Even my PayPal is linked to my credit card, and there's nothing I can do about it, because not many debit cards can be linked to online payment accounts. Credit cards are a good bet if you're really on top of your finances. It makes things easier. But at the same time, if you let one payment go, you can be in the red.

 

Are you sure about that sis? I've never used a credit card in my life and Paypal, online shopping, standing orders etc- have all been absolutely fine with debit cards. I cut up any credit cards the bank send me and instruct them to disable any accounts they create.

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Are you sure about that sis? I've never used a credit card in my life and Paypal, online shopping, standing orders etc- have all been absolutely fine with debit cards. I cut up any credit cards the bank send me and instruct them to disable any accounts they create.

 

Really? I would love to use my debit card online but I've just heard so much about how its really unsafe. I mean, if someone gets your number they can take all your cash out in one swipe. Plus there's less protection than a credit card.

 

Alhumdulillah I've always been frugal so credit cards were never a big temptation for me.

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lol fight the system =p, be on top of your credit card payments and take advantage of reward incentives for credit cards. Then use that money/ points in the way of Allah. Thief the interest they made from others back from dem credit card companies by paying on time =D.

 

Careful with signing up for too many credit cards though. Fraud is on the rise big time.

 

 

I use cash, debit and credit depending on the situation.

 

Credit is a very convenient paying option don't be that reluctant to use it.

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Can someone explain the difference between debit and credit, which one can be used to pay online, and which one involves interest?

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Can someone explain the difference between debit and credit, which one can be used to pay online, and which one involves interest?

 

a debit card is a card that takes from your current account (and in some cases savings account if its configured that way) to pay for purchases. a credit card creates an account with the credit card company on which you buy your purchases on credit, and you must then pay this debt by a set period of time or pay a penalty. If you pay on time you don't pay any interest to the credit card company.

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FDIC: Money Smart - A Financial Education Programhttps://www.fdic.gov/consumers/consumer/moneysmart/young.html

 

this may help start, some cards do charge interest unless you pay the ENTIRE balance due within a specified time frame. the payments on time does charge interest....

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a debit card is a card that takes from your current account (and in some cases savings account if its configured that way) to pay for purchases. a credit card creates an account with the credit card company on which you buy your purchases on credit, and you must then pay this debt by a set period of time or pay a penalty. If you pay on time you don't pay any interest to the credit card company.

 

So a debit card doesn't involve any interest at all?

 

And I can make online payments using both types of cards?

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