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A Charge Card is your not-so-flexible friend! A Charge Card may look like a creditcard , feel like a credit card and you can spend money with it like a credit card. But, unlike a credit card, the day of reckoning comes each month.
Charge card accounts insist that you must settle the debt in full each month. Most charge card operators will operate penalty interest charges which are significantly higher than credit card interest rates for failure to pay.
See: cash card , charge card, credit card , debit card , smart card .
Latest card rates can be found here.
Last Updated: May 2007 © Moneyextra.com
Our senior editor Robin Amlôt recommends you should consider taking independent financial advice before acting on any article. Please contact us for help with your individual circumstances if any assistance is required.