IB Credit Cards

Almost most people have a credit card tucked in the wallet. The demands of the modern lifestyle and practicality are the reason people have a credit card. Besides credit cards mean a person does not need to carry a lot of cash.


Other credit card benefits are quite diverse. Each issuer is trying to lure more people to the benefits that accompany the product, and Islamic banks did not want to miss offering credit cards with frills or IB sharia (Islamic Banking).


IB credit cards are no different to other credit cards. Its function can be a means of payment, used to shop at a variety of places, to withdraw cash, pay routine bills, and so forth. In essence, IB Credit Card holders enjoy the same comfort and ease of other credit card issuers in general.


In addition they are supported by Master Card International. This support means IB credit card can be used in almost 30 million merchant locations and ATMs bearing the MasterCard or Cirrus around the world. So what distinguishes IB credit cards from conventional credit cards?


Primarily, IB Credit cards are supported by 3 types of schemes. These consist of namely: security for transactions with merchants, or loan funds on cash withdrawal facility, or lease payments for services and service systems. with each scheme chosen, Islamic bank card issuers charge a fee to the cardholder.


How are fees set? For transactions with a merchant facility, the amount of the is fee based on the value of transactions that are variable. Although these are nominal terms, fees charged by credit card IB are generally lower than the interest rates charged by other credit card issuers, so IB Credit Card users can enjoy the advantage of this.


IB credit card also apply financial penalties if customers pay bills late. Fines here are ntended as a form of discipline to educate customers to pay off debts incurred after the credit card transaction with them, so the difference is, it is not a penalty imposed for the benefit of the bank but rather channeled into social affairs. Thus, iB credit card can be selected for those who want to apply Islamic principles to their financial affairs. After all, the flexibility of credit card iB is equally with conventional credit cards.


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