Types of Bank Cards

  • Debit Card:
    • Withdraws money directly from your current account.
    • Minimum age: 11 years old.
  • Prepaid Card:
    • Loaded with money by a parent or guardian.
    • Minimum age: 6 years old.
  • Credit Card:
    • Allows you to borrow money from the bank to make purchases.
    • Minimum age: 18 years old.

Important Considerations

Borrowing money is a personal decision that depends on individual circumstances. For some, borrowing may not align with their values. For example, in certain faiths such as Islam, charging or paying interest (known as riba) is forbidden. In such cases, money must be generated through legitimate trade and investment.
When issuing a credit card, banks perform checks and set a credit limit. Once approved, any purchases made on the credit card are added to a monthly statement that must be paid in full by a specified date. Failing to pay the full balance results in interest charges. The more you pay back each month, the lower the interest and the quicker you can clear the debt. Paying off the balance immediately avoids interest altogether.