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Using credit card to purchase gold and paying back in installments

Fatwaa ID: 1924


Muftian kiraam

A sister is asking…

i have a credit card that has an offer on it to do purshases using it and pay back this money on monthly installments WITHOUT intrest for 24 months. Can i use this credit card to buy gold?

Ajeebu Wa tujaroo

In the Name of Allaah, the Most Gracious, the Most Merciful.
As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.

We take note of the details of your query. As long as there is no interest or “fee” paid for paying back in installments over the next 24 months, then it will be permissible to take advantage of such offers. You may use this to purchase gold as well.

And Allaah Ta’aala knows best.
Mufti Muajul I. Chowdhury
Darul Iftaa New York

05/02/1445 AH – 11/16/2023 CE | AMG1-3574

وصل اللهم وسلم وبارك على سيدنا محمد وعلى ءاله وصحبه أجمعين


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