- All the Questions
Credit card interest
Question
I let a friend of mine use my credit card for many years. My understanding was that he will pay the balance each month in full. But after a while he started paying only the minimum payments. Recently I was told that this could be called ריבית. Is that true? and if it is, what should I do about it?
Answer
As far as the credit card company is concerned, you are the borrower and the only one responsible. Your friend is not recognized as a relevant party. So in fact, you are lending your friend and cannot charge him any payment beyond the principle; because of the prohibition of Ribbit (interest).
If he has already paid interest, you must reimburse him the amount of interest. From now on, if you would like to avoid the loss of paying the interest for your friend, your options are to ask him to pay the balance in full which does not carry any interest. Alternatively, you can make a "Heter Iska" (Transaction permit) between you and your friend.
If you would like to get back the amount of interest you have already paid for your friend, or to avoid actually giving him back the interest he has already paid you, it is possible to retroactively include that amount in the "Heter Iska". It is important to note, that the "Heter Iska" should be done with a Rabbi who is an expert in the laws of Ribbit.
(שו"ע יו"ד סימן קסח-קסט סעיפים יז, כב. וכ"ש הכא. וסימן קסא סעיף ה. ט"ז סימן קע ס"ק ג)

How can someone change their community?
Rabbi David Sperling | Shevat 11, 5783

Cutting hair after lag bomer
Rabbi David Sperling | Iyyar 17, 5772

Will those who don't make aliya be part of y'mot hamashiach?
Rabbi Ari Shvat | Tevet 9, 5783

Bizman Hazeh or Bazman Hazeh
Rabbi Yoel Lieberman | Tevet 4, 5783
Rabbi Moshe Leib Halberstadt
Founder & dean of YORU a unique program designed to cultivate the next generation of Rabbis and Jewish leaders
Learning Gemara
Elul 24, 5769
Biting nails on Shabbat
Tishrei 4, 5770
Electronic door opening on Shabbat
Cheshvan 5, 5770
Source for Kiddush Levana
Elul 22, 5769

Differences between Sephardi/Ashkenazi Torah scrolls
Various Rabbis | Iyyar 6, 5768

Shas?
Various Rabbis | 14 Kislev 5764

Differences between Sephardi/Ashkenazi Torah scrolls
Various Rabbis | Iyyar 6, 5768

A Day is a thousand years
Rabbi Ari Shvat | Adar I 23, 5771

Was Rabbi Akiva's torture a punishment?
Rabbi Ari Shvat | Shevat 15, 5783

Kissing a Mezuzah as a goy?
Rabbi David Sperling | Shevat 16, 5783

How Can We Justify Israel & the Solution to Peace w/ Arabs
Rabbi Ari Shvat | Shevat 16, 5783
