What's the difference between a charge card and a credit card?

Answer 1

charge card
A card that requires a full payment of the charge by the due date. Unlike credit cards, which give borrowers a revolving line of credit and lets them borrow against it, carrying a balance with an agreed-to interest rate, charge cards do not allow carrying a balance and no interest is charged. American Express and Diner's Club are examples of charge cards.

credit card
A card indicating the holder has been granted a line of credit. It enables the holder to make purchases or withdraw cash up to a prearranged ceiling. The credit granted can be settled in full by the end of a specified period or can be settled in part, with the balance taken as extended credit. Interest is charged based on the terms of the credit card agreement and the holder is sometimes charged an annual fee.
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Answer 2

no no no i work for a financial institution that provides both charge and credit cards....

A charge card is a card where at the end of the month(when you bill is due) you are required to pay the whole amount that you have purchased on that card back, these cards generally do not have a credit limit set by the financial institution and these cards do not have interest rates but you are charged an overdue fee if you have not paid back the required amount on time (this is generally a percentage of the overdue amount )

A credit card is a card that has a credit limit assigned to you depending on the circumstances ie salary of the person receiving the card, at the end of the month you are only required to pay back a certain percentage of the purchases on that card this is known as the minimum amount, these cards do have an interest rate of anywhere between 8-19% and this is charged on the remaining amount owing on the card though you will find that most financial institutions and/or banks will have an interest free period on the account

i hope this answers your question....happy spending!!!!!!

Answer 3

Charge cards and credit cards ARE NOT the same:

Charge cards do not charge interest. Since the balance is paid in full each month, no interest is calculated. Of course, if you don't pay by the end of the month-- you'll pay fees and penalties. Advantages: no need for cash and you can earn great rewards. American Express offers some o f the most well-known charge card programs. You can find examples here (at bottom):

http://www.asapcreditcard.com/american-express.html

Credit cards, on the other had, charge interest on the money you borrow. It's calculated in a variety of ways and is incurred after the 'grace period' ends. You can find some great offers here:

http://www.asapcreditcard.com

Hope this helps!

Answer 4

I believe a "charge card" normally refers to paying for something using plastic and not cash. A credit card is a subset of charge cards, in that it's a card that you use to pay for something, then you have to pay the bill when it comes.
For example, at the supermarket, when using a charge card, the clerk asks, "is the card credit or debit?" Credit means that you have to pay for the item when the bill comes; debit means that the amount is automatically taken out of an account.
You're "charged" for a purchase you make, so that's why I think a charge card is any plastic card you use to make a purchase.

Answer 5

Charge Card

A card that charges no interest but requires the user to pay his/her balance in full upon receipt of the statement, usually on a monthly basis. While it is similar to a credit card, the major benefit offered by a charge card is that it has much higher, often unlimited, spending limits.

Costs associated with a charge card will often be a set fee for the card along with large penalties on any unpaid balances. This type of card does not allow cardholders to carry a balance from one month to the next as they would with a credit card. American Express and Diner's Club are examples of charge cards.
In contrast, a credit card is a revolving credit instrument which does not need to be paid off in full; no late fee is charged as long as the minimum payment is made, which carries a balance forward as a loan charging interest. Many people are not aware of this distinction however, and often the two terms are used interchangeably to describe any card which can be used as payment.

Many charge cards allow users to pay for some purchases over time, however. American Express charge card customers, for instance, can enroll in the Extended Payment Option to be able to pay for purchases over $200 over time, or in Sign & Travel to be able to pay for travel expenses over time.[

Answer 6

First responder is correct. Two different names for a card in which you commit to pay at a future time. Contrast with debit card, where the money disappears from your account as soon as you use it.

Answer 7

a charge card is a Retailers credit card you can only use it at their business. a credit card can be used anywhere its accepted.

Answer 8

credit taking part in cards vs. charge taking part in cards a lot of human beings use the words credit card and would charge card interchangeably, yet there are significant variations. often, a credit card helps you to're making purchases for which you're billed later. maximum credit card bills allow you to carry a stability from one billing cycle to the subsequent; although, you ought to pay pastime on that stability. in lots of cases, you ought to pay a minimum of a undeniable volume of your stability every time you receive a bill. A charge card is a particular variety of credit card. The stability on a charge card account is payable in complete whilst the fact is gained and would't be rolled over from one billing to the subsequent. for the reason which you are able to no longer carry a stability, a charge card would not have a periodic or annual proportion fee, so there is no fee for a charge card company to show.

Answer 9

There is no difference.