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Muslims offered interest-free plastic
National Post ^ | March 31, 2010 | Tim Shufelt

Posted on 03/31/2010 6:45:15 AM PDT by Loyalist

A new interest-free credit card, the first of its kind in North America, aims to reconcile Islamic canonical law and Western consumer culture.

Until now, observant Muslims have been precluded from owning credit cards on which they pay interest, a violation of shariah law.

The iFreedom Plus Master-Card, set to be available in the coming days, promises no bills, no interest and no credit card debt.

....

With the iFreedom Plus MasterCard, holders load up their card with cash in advance, up to $6,000. Each purchase draws down on the account without accruing interest.

....

Because the new product doesn't actually involve credit, applicants are approved without a credit check.

(Excerpt) Read more at nationalpost.com ...


TOPICS: Business/Economy; News/Current Events; War on Terror
KEYWORDS: banking; creditcard; economy; interest; islam; koran; mastercard; quran; sharia; shariah; stealthjihad
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To: AzaleaCity5691

Does American Airlines accept debit cards or just credit?


21 posted on 03/31/2010 7:04:14 AM PDT by FlashBack ('0'bama: "Katrina on a Global Level")
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To: Loyalist

So it’s a debit card. Rename a card and fool the Muslims lol.


22 posted on 03/31/2010 7:04:17 AM PDT by Sir Gawain
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To: FlashBack

I know a lot of car rental companies require you to have a secured credit card because I’ve tried to use check cards with them before and they made me use the VISA. Maybe not all of them do, but it seems every time I had to rent they did and I used to be on business travel anywhere from 75-150 days a year so, well, this one I got to know pretty well.


23 posted on 03/31/2010 7:05:55 AM PDT by AzaleaCity5691
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To: Squawk 8888

This sort of card—with high fees—has been available down here for years, supposedly to help those with bad credit to re-establish themselves.


24 posted on 03/31/2010 7:06:36 AM PDT by 9YearLurker
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To: Loyalist

The downside is that in lieu of late fees, they chop both of your hands off and give you 40 lashes.

It’s all part of the “honor system.”


25 posted on 03/31/2010 7:16:37 AM PDT by sbMKE
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To: AzaleaCity5691
The reason rental car companies require a REAL credit card is because drug dealers use rental cars to transport drugs.

If the drug dealer gets busted the cops keep the car that they were driving.

26 posted on 03/31/2010 7:19:04 AM PDT by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
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To: AzaleaCity5691

I don’t do credit cards and I’ve gone everywhere on my debit, including rental cars.


27 posted on 03/31/2010 7:21:57 AM PDT by T Minus Four ("You do not have soul, you ARE a soul. You have a body." C.S. Lewis)
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To: Eric in the Ozarks

Agreed. Even their religion is anti-capitalist.

They either blend in, assimilate, or leave.


28 posted on 03/31/2010 7:23:13 AM PDT by BunnySlippers (I LOVE BULL MARKETS . . .)
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To: BunnySlippers

They hate the West.
Why are they here ?


29 posted on 03/31/2010 7:28:37 AM PDT by Eric in the Ozarks (Impeachment !)
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To: Loyalist

Well gee whiz! The Muslims have just invented the debit card.


30 posted on 03/31/2010 7:29:48 AM PDT by HiTech RedNeck (I am in America but not of America (per bible: am in the world but not of it))
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To: Eric in the Ozarks

To take over.


31 posted on 03/31/2010 7:34:21 AM PDT by BunnySlippers (I LOVE BULL MARKETS . . .)
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To: Loyalist

So a woman in a burka is going to hand over a card that reads, iFreedom?

Oh, the irony.


32 posted on 03/31/2010 7:35:36 AM PDT by bearkat
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To: AzaleaCity5691

I’ve only flown once but have since gotten rid of my ‘plastic’...may need to fly again later this year not sure how this will work out.


33 posted on 03/31/2010 7:37:13 AM PDT by FlashBack ('0'bama: "Katrina on a Global Level")
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To: ThePatriotsFlag

Indeed, it’s an option for us kaffir too. I myself keep an absolute minimum amount of money in my debit / checking account at a real bank. When I need to get something off the internet (plane tickets, car rental, Christmas presents to be shipped directly from the seller), I deposit some money, click it away on the purchases (usually the same day), and I’m back to my minimal balance.

I think what they’re talking about here are Visa or MC debit cards that don’t require a bank account, which as many have noted, have been available for years. Check them out but be careful about fees. Even though they’re holding your money, many charge you a pretty steep monthly fee (even $4.95/mo is steep to me), a “transaction fee” which covers the MC/Visa charge (which would be illegal if the merchant himself charged it to you), and fees for pretty much any interaction with the card issuer, even checking to see how much money you have left.


34 posted on 03/31/2010 8:29:44 AM PDT by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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To: sbMKE
The downside is that in lieu of late fees, they chop both of your hands off and give you 40 lashes.

If the guy declares bankruptcy, then they can only chop off his thumbs. *rimshot*

35 posted on 03/31/2010 8:33:04 AM PDT by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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To: Loyalist

Though how much interest does the issuing bank make on all that prepaid cash? That would seem against sharia too.


36 posted on 03/31/2010 8:42:25 AM PDT by onedoug
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To: Loyalist
For Koran-thumbing Muslims there is another way to have money loaned to them. It is okay for a Muslim to borrow money from a member within his own familiy. After my father died some sixteen years ago, a Muslim businessman flooded my narcissist mother with the attention she craves. Thanks to my father, my mother is a very wealthy woman with a full staff (housekeeper, cook, personal attendants and a gardener).

Ahab and his wife took Mother out to dinner three to four times a week. He dropped by the house with little gifts in between 'dinner dates'(fresh squeezed orange juice from the gourmet deli, Brach Jelly Beans, flowers, ...). He declared that he thought of her as his mother.

A few months after the relationship began *Ahab received the first of many very low interest loans (1-2%) to make improvements in his three liquor stores. Later on Ahab 'helped' mother with purchases of large ticket items such a large screen TV, refrigerator, vacuum cleaner, and several king-size bed which she gave away to him. None of the items came with receipts; I suspect they all had fallen off the proverbial truck. Everything Mother had Ahab purchase for her was overpriced. Example: Best Buy price for large screen TV was around $6,000. The price mother paid Ahab was around $8,000. Then at mother's request Ahab began major home improvement projects on Mother's home (bathroom remodeling, elevator for her three level house,interior and exterior painting, ...). The work was done by Ahab's 'boys' who were mainly illegal workers from Mexico. Much of the improvements had to be redone by licensed contractors later.

I wanted to have Ahab investigated from possible fraud and elder abuse, but my sister who lived nearby insisted that even though Ahab was taking advantage of Mother, she enjoyed all the attention Ahab provided. My sister thought the price of a couple thousand dollars a month to keep Mother entertained was worth it. "After all it is her money, and its just pennies to her."

Last year with the help of the housekeeper, my husband and I disentangled Ahab from mother's life. Through investigation I discovered that Mother was not the first rich widow woman he'd 'helped' in the valley.

37 posted on 03/31/2010 8:42:57 AM PDT by Irish Queen (This world is not my home, I'm just a passing through ...)
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To: AzaleaCity5691
Precisely what I was just thinking. That, or a really extravagant gift-card.

Redistribution is Theft II, small
38 posted on 03/31/2010 8:43:41 AM PDT by Oceander (The Price of Freedom is Eternal Vigilance -- Thos. Jefferson)
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To: AzaleaCity5691
I’ll be completely honest, if I were someone who didn’t want to have a credit card I probably would consider something like this just because it would guarantee access for some actions that take credit and credit alone (even if this isn’t credit, it’ll be as good as it).

I'd be o.k. with it as well if it were completely anonymous, and I could buy them with ca$h at the local 7-11.

It's none of the government's business what I spend my money on.

39 posted on 03/31/2010 9:22:59 AM PDT by zeugma (Waco taught me everything I needed to know about the character of the U.S. Government.)
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To: ThePatriotsFlag
Why wouldn't I, a non-Muslim want to do this? I'm retired, pay all my bills on time, have no mortgage, the only thing I need a card for is "convenience", (buying Anti-Obama bumper stickers online).

The price is too high, you have to tie up the funds up front, and, last and not least, the brand affinity is putrid.

As an alternative, you might consider, for example, the Fidelity Rewards American Express® Card. No fee and 2% back on all purchases.

40 posted on 03/31/2010 9:38:19 AM PDT by cynwoody
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