Using earned Bank reward points
 

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I wanted to know what the Hanafi view was on the reward points that one earns on account of using their card. Apparently I have been gaining "reward points" but have never paid much attention to until now. The way this workds is based on the amount of points one accumulates, you could "buy" a gift from the bank's website with more expensive gifts requiring a greater reward points.

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By Hazrat Mufti Taqi Usmani sb db

Q.) When using credit cards, some banks give bonus miles or bonus points for purchases and some other benefits. Please clarify it if we can use it. Every month I pay off the total of account without paying an extra cent of interest. [Ayyub Gajia]

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A.) If a Credit Card is used for purchases and the bills are paid promptly without requiring to pay interest on late payment, it is permissible and the benefits given by the Credit Card Company as rewards can be availed of. It is not impermissible to benefit from such rewards.

http://www.albalagh.net/qa/rewards_use_cc.shtml
http://qa.sunnipath.com/issue_view.a...ID=378&CATE=43

well i end up using my plus points paying for speeding fines..

wa assalam..

Asalamu aleykum wr wb

Thanks for the information. I just googled the same question I had in mind and found this Fatwa in Islamqa. It looks at the issue from a completely different perspective. In summary, according to the scholars on Islamqa its Haram to use earned reward points for your benefit. They come to this conclusion by treating the money deposited into bank accounts as a loan that you are giving to the bank since they use it to do transactions and investments. So in a way when you are using your bank card you are getting back some of your loans, so in essence you cannot gain "benefit" on your loan. If indeeed the money we deposit in banks is a loan to those institutions then it would be Haraam to use the reward points. The devil in the detail is whether the money deposited can be treated as a loan to a bank.

Here is a URL link to the Islamqa fatwaa on this issue:


http://islam-qa. com /en/ref/147775

I have put spaces in between as the link would not display properly.

wa alaikum assalam w.w..

tht link doesnt open up.. anyway id go with Hazrat mufti Taqi usmani sb db..

wa assalam..

I really appreciate your post. Thanks for sharing such useful information.
Accountant London

There are different types of reward points where our earned bank gives us according to purchase of products and using of money. My bank thesis writing service bank don`t give reward points to purchase below 50 dollars. But once we buy products worth more than 100$ it will double our points. Like this each bank has own system.