I have been using credit card for several years with Qatar Islamic Bank, they deduct 100% off every 20th of the month no intrest ( upon my request), and I have a fixed limit of that I can adjust accordingly to my need.
I also know that that is also posible in other Banks, if you clearly state that you want 100% pay back from your account...
The only catch here is that you have the ammount in the bank, elsewise you endup paying intrest wether you like it or not...QIB would not take intrest till after 2 false payments, and they will deduct the ammount directly once any cash gets in befor you can get your hand on it...
you need of course good colatrals to open a credit card
I dNt tHinK sO Any bAnK cOuld sUrVIvE WiTHoUt INTEReSt...cZ MoST oF tHe BaNkS aRE DePeND oN iNTeResT...BUt U mUSt CHeCk IN QATar islAmIc BaNk MiGHt BE ThEy WonT tAkkE iNteResT!!!!!
all the credit card on earth has interest, that is business... but what you can do, pay ur credit before 30 or 50 days, then they will not charge u any interest..
a debit card will pay the vendor using money direct from your current account, therefore no interest is charged.
with regards to credit cards, all will have a certain rate of interest, however some, if paid in full within a certain amount of days will be interest free. HSBC for example.
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Hi,
I have been using credit card for several years with Qatar Islamic Bank, they deduct 100% off every 20th of the month no intrest ( upon my request), and I have a fixed limit of that I can adjust accordingly to my need.
I also know that that is also posible in other Banks, if you clearly state that you want 100% pay back from your account...
The only catch here is that you have the ammount in the bank, elsewise you endup paying intrest wether you like it or not...QIB would not take intrest till after 2 false payments, and they will deduct the ammount directly once any cash gets in befor you can get your hand on it...
you need of course good colatrals to open a credit card
I dNt tHinK sO Any bAnK cOuld sUrVIvE WiTHoUt INTEReSt...cZ MoST oF tHe BaNkS aRE DePeND oN iNTeResT...BUt U mUSt CHeCk IN QATar islAmIc BaNk MiGHt BE ThEy WonT tAkkE iNteResT!!!!!
all the credit card on earth has interest, that is business... but what you can do, pay ur credit before 30 or 50 days, then they will not charge u any interest..
a debit card will pay the vendor using money direct from your current account, therefore no interest is charged.
with regards to credit cards, all will have a certain rate of interest, however some, if paid in full within a certain amount of days will be interest free. HSBC for example.