Posted by: islamicfinancingnews | February 2, 2014

Credit cards and Islamic finance

Applying for Islamic finance? Then it stands to reason you don’t want anything like a dent in your credit history to get in the way of obtaining Islamic mortgages. One of the best ways to avoid that problem is to understand how to find the best credit cards before you sign up for one. The Internet is a great tool to start comparing the offers you get in the mail and there are some sites that act as excellent jumping off points.

Generally, the experts suggest a low fixed-rate card is better than the low variable-rate variety. It’s important to know when these companies can credit cardsraise your interest rate and by how much and you should be aware this all-important information is often buried deep in the mail you receive. You can’t assume all correspondence from these credit card companies is junk mail either. Read through everything you get to be sure you’re not missing anything that can catch up with you later.

These days, when people are becoming more comfortable with shopping on the Internet, you need to research the programs carried by the card issuer to cover you in the event of fraud. Some companies cover you entirely when your security has been breached, others assume limited liability. Be as thorough in this regard as you were when selecting an Islamic finance company.


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