HALAL CREDIT CARD FOR STUDENT WITH NO JOB NO REVENUE BAD CREDIT
An Islamic credit card for student is defined by a halal payment card that allows payment in installments and is intended only for people pursuing a university education and complying with Islamic Finance rules.
An Islamic credit card for student aims to help Muslim college and university students to face their daily personal expenses on top of tuition and fees, room and board as well as books and transportation.
The student’s halal credit card is a challenge given that the Muslim card applicant is facing a lack of solid and regular income that she or he has to prove using supporting documents such as a payslip.
The Islamic credit card for students is at risk to be rejected by halal card issuing companies as on one side they don’t receive a salary and on the other side even being an unemployed person, the student can’t receive social allowances.
A viable solution for a student to obtain approval for an Islamic credit card is to access to a financial collateral either through a parents guarantee, or her or his university that may have a cooperation agreement with Islamic banks.
A student credit car for student finally will not be accessible without offering a financial comfort to the credit card issuer particularly if the student has no proof of income or he is subject to a bad credit score.