Balance transfer fee or another form Interest?

[psyah]

Re: Balance transfer fee or another form Interest?

@queer

all this relies on one basic tenet - that the value of money is the same at all times.

which is never true. money is more valuable at times of shortages, and less in times of excess. an interest rate is a price tag on using someone’s money. it becomes usury only when the price is exorbitant, or not made clear to the paying party.

Yes …today’s money itself is a form of riba too