The Benefit Cutting your Credit Card

There is a business community in my country that promotes "avoid usury" movement. They do not avoid to   business with bank because the bank charge interest to the debtor and they also share tha interest to the creditor.

Their movement to leave riba (usury) in their live. One of their actions is to ask people cut the credit card. They realize that credit card is a usury that load people.

I also agree to this movement because the credit card cannot give the real benefit for us. They may give you money at the advance but you should pay more than you can receive because there is some fee such as admin fee, interest fee, and so on. 

The credit card also boost you to spend more. Some people spend thousand dollar in a day and reach the credit card limit.  They think that they can pay all the debt later.

Cutting credit card will lead you to financial independence. You do not have to  pay the debt and you do not need the money from credit card. You can find money from business or you can work for other people.

You will leave the Sin. As a Muslim, we believe usury a sin. Allah and the messenger will embattle you that you will not win on it. 

Peer to Peer Landing, what is?

To be honest, I just know about peer to peer landing, after reading blog mint article. The aim the peer to peer landing is to reach the people that can borrow from financial institution such as bank and credit union.  We or you can find a man who wants to lend you some money.

This facility connects a people that need money and others that need to lend. The lender want to lend the money to get the interest; while the borrower want to borrow money for business or paying off credit card. The lender realizes that the money so abundant but they do not know to use the money.  

It seems easy to lend some money from other now. As long you have good credit points you will get the credit easily. The interest is lower than the bank.  That is why some credit card uses this for credit card consolidation.

Peer to peer landing is credit even though this is cheaper than any credit. You still have to pay the credit.  I am not recommend use the peer to peer because it may harm your money. I prepare not to borrow to pay of my debt. 

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