Author Topic: Can You Lend Your Credit Card To Someone And Enjoy The Miles? (Read 8489 times)

SBS · « **on:** March 11, 2015, 11:12:15 AM »

Tomorrow, Thursday, at 8:00pm I will be giving a class in Mayan Yisroel of Flatbush (3315 Avenue N, Brooklyn, NY 11234), discussing the Halachos of Ribbis as they apply (or don't apply) to lending out a Credit Card to a friend.

Specifically: When you lend out the Credit Card to your friend, and he (hopefully) pays you back, are the miles you get considered Ribbis? If not, Why?

The class is part of a new series of Halacha classes I will begin giving there, which will cover interesting topics in Halacha.

Achas Veachas · « **Reply #1 on:** March 11, 2015, 11:30:26 AM »

Quote from: SBS on March 11, 2015, 11:12:15 AM

Tomorrow, Thursday, at 8:00pm I will be giving a class in Mayan Yisroel of Flatbush (3315 Avenue N, Brooklyn, NY 11234), discussing the Halachos of Ribbis as they apply (or don't apply) to lending out a Credit Card to a friend.

Specifically: When you lend out the Credit Card to your friend, and he (hopefully) pays you back, are the miles you get considered Ribbis? If not, Why?

The class is part of a new series of Halacha classes I will begin giving there, which will cover interesting topics in Halacha.

Yasher Koach! Will the Shiur be recorded?

It would probably be prudent to mention this thread...

SBS · « **Reply #2 on:** March 11, 2015, 11:31:15 AM »

Quote from: Achas Veachas on March 11, 2015, 11:30:26 AM

Yasher Koach! Will the Shiur be recorded?

It would probably be prudent to mention this thread...

Will surely mention... from personal experience

I will try to record it.

AJK · « **Reply #3 on:** March 11, 2015, 11:35:30 AM »

Would love to hear a recording.

kangarruu · « **Reply #4 on:** March 11, 2015, 11:38:00 AM »

Quote from: SBS on March 11, 2015, 11:12:15 AM

Tomorrow, Thursday, at 8:00pm I will be giving a class in Mayan Yisroel of Flatbush (3315 Avenue N, Brooklyn, NY 11234), discussing the Halachos of Ribbis as they apply (or don't apply) to lending out a Credit Card to a friend.

Specifically: When you lend out the Credit Card to your friend, and he (hopefully) pays you back, are the miles you get considered Ribbis? If not, Why?

The class is part of a new series of Halacha classes I will begin giving there, which will cover interesting topics in Halacha.

I can't make this one, but I'm very interested in this sort of thing. Any idea of what the future topics might be? I also wouldn't say no if you provided CLE credit...

shauly · « **Reply #5 on:** March 11, 2015, 11:41:08 AM »

I would love to hear a recording, please post!

sruly · « **Reply #6 on:** March 11, 2015, 11:42:24 AM »

Quote from: SBS on March 11, 2015, 11:12:15 AM

Tomorrow, Thursday, at 8:00pm I will be giving a class in Mayan Yisroel of Flatbush (3315 Avenue N, Brooklyn, NY 11234), discussing the Halachos of Ribbis as they apply (or don't apply) to lending out a Credit Card to a friend.

Specifically: When you lend out the Credit Card to your friend, and he (hopefully) pays you back, are the miles you get considered Ribbis? If not, Why?

The class is part of a new series of Halacha classes I will begin giving there, which will cover interesting topics in Halacha.

Can you just tell us the short answer ?

Achas Veachas · « **Reply #7 on:** March 11, 2015, 11:43:56 AM »

Quote from: sruly on March 11, 2015, 11:42:24 AM

Can you just tell us the short answer ?

Judging by the follow-up question I would assume it's not Ribbis and it's not hard to figure out why...

Matovu · « **Reply #8 on:** March 11, 2015, 12:21:14 PM »

A dayen in BP told me it's not Ribbis

Achas Veachas · « **Reply #9 on:** March 11, 2015, 12:24:29 PM »

Quote from: Matovu on March 11, 2015, 12:21:14 PM

A dayen in BP told me it's not Ribbis

Why would it be? The borrower isn't giving you anything.

Shauly101 · « **Reply #10 on:** March 11, 2015, 12:30:53 PM »

yup, if you receive from a third party then it shouldn't be a problem and take in mind that the third party is not giving me the so called ribbis because of lending! they dont have an idea that i gave my card to s/o

etech0 · « **Reply #11 on:** March 11, 2015, 12:32:21 PM »

another thing to bear in mind: if the person doesn't pay you back on time, and you don't pay the CC bill on time because of that, it may be an issue for you to make them pay the interest that you pay the CC company.

Achas Veachas · « **Reply #12 on:** March 11, 2015, 12:34:17 PM »

Quote from: etech0 on March 11, 2015, 12:32:21 PM

another thing to bear in mind: if the person doesn't pay you back on time, and you don't pay the CC bill on time because of that, it may be an issue for you to make them pay the interest that you pay the CC company.

I'm guessing that will be part of the class...

mordman · « **Reply #13 on:** March 11, 2015, 12:44:01 PM »

Lets see:

- The miles get put into your account by the bank because he spent the money, at the time of purchase. He is not giving you miles at all, nor are you charging them to him for at the time of repayment

- Additionally, Banks value the miles at $0.00 for taxable purposes.

- They never become yours they always belong to the bank/airline, Proof: You can have your miles removed at the
digression of the airline/bank without reason, this is not theft as they miles never belonged to you.

12HRS · « **Reply #14 on:** March 11, 2015, 12:48:26 PM »

Quote from: mordman on March 11, 2015, 12:44:01 PM

Lets see:

- Additionally, Banks value the miles at $0.00 for taxable purposes.

pretty sure this is irrelevant from a halachic perspective.

dealfinder85 · « **Reply #15 on:** March 11, 2015, 12:49:48 PM »

Quote from: 12HRS on March 11, 2015, 12:48:26 PM

pretty sure this is irrelevant from a halachic perspective.

+1
considering a favor is also valued at 0 for tax purposes and yet considered ribbis

Ergel · « **Reply #16 on:** March 11, 2015, 01:10:45 PM »

Bank is lending money to you. You are lending money to your friend. Friend is paying the bank back for you. Bank is giving you miles.
Lo asrah Torah elah ribbis habaah m'loveh limalveh

dealfinder85 · « **Reply #17 on:** March 11, 2015, 01:12:58 PM »

Quote from: Ergel on March 11, 2015, 01:10:45 PM

Bank is lending money to you. You are lending money to your friend. Friend is paying the bank back for you. Bank is giving you miles.
Lo asrah Torah elah ribbis habaah m'loveh limalveh

there are ways to violate ribbis derabanan that are not ribbis habaah m'loveh limalveh
this just happens to not be one of them

Redbull3 · « **Reply #18 on:** March 11, 2015, 01:19:03 PM »

Quote from: mordman on March 11, 2015, 12:44:01 PM

- Additionally, Banks value the miles at $0.00 for taxable purposes.

Saver2000 · « **Reply #19 on:** March 11, 2015, 01:22:36 PM »

Quote from: Redbull3 on March 11, 2015, 01:19:03 PM

They are considered a rebate. Except for citi. They send a 1099