Categories of Ribbit: Difference between revisions
From Halachipedia
→Borrowing Someone's Credit Card
(→Basics) |
|||
| Line 18: | Line 18: | ||
# It is permitted to lend an object such as a tool to one's friend even on condition that if it breaks he will get you a new one even though it is more expensive than the one you lent him.<Ref>Mishnat Ribbit 4:35 based on Chavot Daat 161:1</ref> | # It is permitted to lend an object such as a tool to one's friend even on condition that if it breaks he will get you a new one even though it is more expensive than the one you lent him.<Ref>Mishnat Ribbit 4:35 based on Chavot Daat 161:1</ref> | ||
==Borrowing Someone's Credit Card== | ==Borrowing Someone's Credit Card== | ||
# It is permitted for someone to borrow another Jew's credit card to pay for a purchase and repay them the amount spent. Even if the purchaser receives points from the credit card company, that isn't considered interest since it doesn't come from the borrower. Additionally, the borrower may not the purchaser for any interest fees that the purchaser may incur if he pays late.<ref>[http://www.torah.org/advanced/weekly-halacha/5762/behar.html Rabbi Doniel Neustadt on torah.org] and [http://www.dinonline.org/2014/01/17/receiving-points-from-credit-card-loan/ dinonline.org]. Chelkat Binyamin 170:17 describes the issue of borrowing credit cards at length. When someone borrows a credit card and uses it, he is considered as though he borrowed from the credit card company and the credit card holder is a guarantor to pay the debt to the company. Indeed it can be even more serious if it is viewed as though the credit card holder borrowed from the credit card company since he is indebted to them and separately he lent that money to his friend who is using his credit card. Either way if the agreement was that the borrower of the credit card would pay the credit card holder interest if he didn't pay on time that is a forbidden arrangement even if they pay on time and never engage in interest. However, if they arranged that the borrower wouldn't have to pay the interest even in the event that he didn't pay on time then it is permitted. For small purchases it can be assumed that the arrangement was that the borrower would only pay for the capital and not interest if he didn't pay on time.</ref> | # It is permitted for someone to borrow another Jew's credit card to pay for a purchase and repay them the amount spent. Even if the purchaser receives points from the credit card company, that isn't considered interest since it doesn't come from the borrower. Additionally, the borrower may not the purchaser for any interest fees that the purchaser may incur if he pays late.<ref>[http://www.torah.org/advanced/weekly-halacha/5762/behar.html Rabbi Doniel Neustadt on torah.org], [https://www.chabad.org/library/article_cdo/aid/4387029/jewish/Can-I-Lend-Out-My-Credit-Card-to-Earn-Points.htm chabad.org], and [http://www.dinonline.org/2014/01/17/receiving-points-from-credit-card-loan/ dinonline.org]. | ||
* Chelkat Binyamin 170:17 describes the issue of borrowing credit cards at length. When someone borrows a credit card and uses it, he is considered as though he borrowed from the credit card company and the credit card holder is a guarantor to pay the debt to the company. Indeed it can be even more serious if it is viewed as though the credit card holder borrowed from the credit card company since he is indebted to them and separately he lent that money to his friend who is using his credit card. Either way if the agreement was that the borrower of the credit card would pay the credit card holder interest if he didn't pay on time that is a forbidden arrangement even if they pay on time and never engage in interest. However, if they arranged that the borrower wouldn't have to pay the interest even in the event that he didn't pay on time then it is permitted. For small purchases it can be assumed that the arrangement was that the borrower would only pay for the capital and not interest if he didn't pay on time. | |||
* The reason that the points are permitted is because they are considered a gift from a third party and not the Jewish lender to the Jewish borrower (see Shulchan Aruch 160:13 and Shach 160:20).</ref> | |||
# It is problematic to borrow someone else's credit card if there are two prices for a certain product, a cheaper price for cash and more expensive for credit. Since there are two prices we can view the cash price as the real price and the credit card price as the convenience price. Once the borrower of the credit card uses the card to buy a product that is worth less than the credit card price and repays the credit card price he is giving interest to the credit card holder.<ref>Chelkat Binymain Biurim 170:1 s.v. ela p. 392</ref> | # It is problematic to borrow someone else's credit card if there are two prices for a certain product, a cheaper price for cash and more expensive for credit. Since there are two prices we can view the cash price as the real price and the credit card price as the convenience price. Once the borrower of the credit card uses the card to buy a product that is worth less than the credit card price and repays the credit card price he is giving interest to the credit card holder.<ref>Chelkat Binymain Biurim 170:1 s.v. ela p. 392</ref> | ||
==Partnerships== | ==Partnerships== | ||
# It is forbidden for several Jews, two or more, to borrow from a bank or non-Jew with interest such that the non-Jew can collect from any one of them. The reason is that if one of them pays then the others are obligated to repay the one who paid the interest. Thereby the one who paid would be like he lent everyone else with interest and is being repaid with interest.<ref>Chavot Daat 170:1, Chelkat Binyamin 170:25 based on Graz 64 and Chavot Daat</ref> Solutions include: specifying that if one of them pays on behalf of everyone that everyone will repay the one who paid the capital and not interest and the one who paid the bank or non-Jew will lose out on the interest. Another solution is to specify with the bank or non-Jew that every borrower is only obligated up to a specific amount and there's no obligation of one borrower for another.<ref>Chelkat Binyamin 170:25</ref> | # It is forbidden for several Jews, two or more, to borrow from a bank or non-Jew with interest such that the non-Jew can collect from any one of them. The reason is that if one of them pays then the others are obligated to repay the one who paid the interest. Thereby the one who paid would be like he lent everyone else with interest and is being repaid with interest.<ref>Chavot Daat 170:1, Chelkat Binyamin 170:25 based on Graz 64 and Chavot Daat</ref> Solutions include: specifying that if one of them pays on behalf of everyone that everyone will repay the one who paid the capital and not interest and the one who paid the bank or non-Jew will lose out on the interest. Another solution is to specify with the bank or non-Jew that every borrower is only obligated up to a specific amount and there's no obligation of one borrower for another.<ref>Chelkat Binyamin 170:25</ref> | ||
