Is using a Visa card with these conditions, without benefiting from interest or delaying payment, considered forbidden (haram)?

The Sharia permits the use of a Visa card if it is free from usury (riba). This includes not imposing a penalty for late payment, allowing a fixed fee for issuance or renewal, or a commission from the merchant, and ensuring that cash withdrawals are free from usurious increments.

As for the bank stipulating an amount to be deposited as collateral, there is no objection to it if the bank invests it in a permissible manner. However, it is not permissible to stipulate that the amount be invested with a specific interest, as this is clear usury. Every loan that stipulates an increase is usury.

Therefore, it is not permissible to use the aforementioned card. It can be replaced with a covered (prepaid) card to avoid Sharia prohibitions.