difference between credit card, charge card, dept card?

Question

Explain the difference between the following items:

Charge Card: _______________
Debt Card: __________________
credit card:_________________

Answer 1

charge card and credit card are the same thing. they give you a credit limit and you can spend $ that you don't have then pay it back later with interest.....which is a horrible idea & how most people get into debt

debt cardcontains only $ that you put in but makes it so you dont have to carry around cash..also sometimes called atm card or check card

Answer 2

Credit Cards vs. Charge Cards

Many people use the terms credit card and charge card interchangeably, but there are important differences. In general, a credit card lets you make purchases for which you are billed later. Most credit card accounts allow you to carry a balance from one billing cycle to the next; however, you have to pay interest on that balance. Usually, you have to pay at least a certain amount of your balance each time you receive a bill.

A charge card is a specific kind of credit card. The balance on a charge card account is payable in full when the statement is received and cannot be rolled over from one billing to the next. Because you cannot carry a balance, a charge card doesn't have a periodic or annual percentage rate, so there is no rate for a charge card issuer to disclose.

Answer 3

Charge card and credit card are the same thing. You sign an agreement with a credit card company and they send you the card. You use the card and the company pays the initial charge, then 30 days later you get the bill. It is then up to you to pay the bill in full or pay the minimum payment which will carry the balance plus finance charges to the next month or billing cycle.

A debit card is connected directly to your checking account. When you do a transaction and pay with your debit card the money comes straight out of your checking account. There are no finance charges.

Cheers,

Answer 4

Everybody that's saying charge card and credit card are the same thing are only partly right. Many charge cards have no pre set spending limit, and they have an annual fee, and any thing charged must be paid back at the end of the month.
A credit card gives you a certain limit, and many don't have annual fees, they alaso allow you to pay over time, there is a difference. A debit card is linked to a checking account, and you are only able to charge up to the amount in the account.

Answer 5

A charge card and credit card are the same. When you purchase something with a credit card, it is charged to an account that you must pay back, with interest.

I think you mean debit instead of "debt". Anyway a debit card is linked to your bank account; whenever you buy something with it, the money is withdrawn directly from your account. It's about the same as writing a check or using cash.

Answer 6

Store Charge: Valid at that store chain only (and subsidiaries)

Debit Card: Draws money directly from your Checking Account
and in some cases - will act like a credit card when balance goes to zero in the checking account (can also double as an
ATM card)

Credit Card: Valid at MANY stores - make sure to pay off
the entire balance monthly to avoid interest charges
my card has a 1-5% rebate - and a 24% APR -
...BUT they have never collected a penny of interest as I
pay them off every month - NEVER late!

best of luck