What is the difference between a charge card and a credit card?

Answer 1

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Answer 2

A charge card is offered through a bank and allows you to have a charge account a specific business or institutions. If you get a gap charge card, you could use it at gap owned stores (old navy, gap, banana republic, 4th), but you can't use it at say target. If you have a credit card, you can use it anywhere they accept that card.

You could also get one through dinners club, american express and such, but those require that you pay dues to enroll and they require you pay the balance off in full.

Either way, if you keep in good standing with the bank extending you credit, your credit score will improve. Keep in mind that you should not apply for too many credit/charge cards at one time, that can negatively affect your credit score, because you become a credit risk. Banks will worry that you will charge a lot of stuff and then default.

Answer 3

Charge card is like the traditional American Express card - generally no limit to what you can charge, but you must pay the entire bill at the end of the month or billing cycle.

Credit card - you are generall given a spending limit depending on your credit rating and what you apply for, and you have the option of paying all or part of what you put on the card at the end of the billing cycle, and will be charged a percentage for everything you don't pay off.

Answer 4

A charge card is similar to a credit card, except that the charges made to it must be paid-off each month, rather than having revolving credit which carries a balance forward. Many people are not aware of this distinction however, and often interchangeably use "charge card" to describe any card which can be used as payment, or "credit card" for any credit or charge card.

Answer 5

credit playing cards vs. can credit playing cards a lot of human beings use the words mastercard and can want to charge card interchangeably, yet there are major differences. more often than not, a mastercard lets you're making purchases for that you're billed later. maximum mastercard charges allow you to to carry a stability from one billing cycle to the subsequent; inspite of the undeniable fact that, you ought to pay interest on that stability. frequently, you ought to pay a minimum of a particular quantity of your stability each and every time you purchased a bill. A cost card is a particular type of mastercard. The stability on a cost card account is payable in complete even as the assertion is gained and won't be able to be rolled over from one billing to the subsequent. because you won't be able to carry a stability, a cost card doesn't have a periodic or annual percentage price, so there is not any price for a cost card company to instruct.

Answer 6

Charge Card - A card that charges no interest, but that requires you to pay your bill in full each month.
Credit Card - A bank-issued card that allows consumers to purchase goods or services from a merchant on credit.

Answer 7

charge card in the sense,
normally in this card may or may not be having specified credit limit, it is depends upon the customers purchasing pattern and the repayment capacity.
based upon the customer ability the limit may increase.
in india only American Express Bank issuing Charge card. for this we need to pay the annual fee also.

main difference between a charge and credit is,

in charge card
*there is no revolving facility, we need to pay the whole amount within the specified interest free credit period otherwise they put interest based upon the total amount of purchase made.
*there is no balance transfer facility.

in credit card,
*there is a revolving facility
*balance transfer facility is available. this facility is used to transfer the outstanding amount to another bank to extend the o% interest free credit days.

Answer 8

nothing...it is simply 2 different ways to say the same thing. there is a difference between a credit and a debit card.

Answer 9

Depends on what kind of charge card you have
some charge cards are only for buying and not
receiving cash money back.

Answer 10

You never have to pay for anything you buy with a charge card. Go on a spending spree, dude. You won the big one if you have a charge card. WOW!!!