What is a charge card? How is it different from a credit card? What are the benefits of the Black Card?

Answer 1

While the above post is technically correct in the definition of charge card, the term is also used to describe store revolving charge account cards.

Answer 2

A charge card is similar to a credit card except with a charge card the balance is expected to be paid in full each month. There is no minimum payment like with a credit card. If you charge $500, when the bill is due you are supposed to pay all of it. If you don't, the interest and penalties are huge. The Centurion Card, popularly known as the Black Card, is American Express' most exclusive charge card. Formerly available by invitation only, the Centurion Card provides access to a range of exclusive privileges. In the United States, invitations are no longer sent for the card. To be approved for the Black Card, one must make a request and meet the strict criteria below. There is a one time initial fee of $5,000 along with an annual fee in the United States of $2,500 [as of 2007].