Before this I had always assumed charge card could be used interchangeable with credit card.. I mean the term but I was wrong huhu :-(
Credit card supplies their customer with a set amount of credit however not for Charge card. Charge card lets their customers spend what they want as long as it is PAID OFF at the end of the month. So you cannot carry a balance the way you can with a Credit Card and you don’t have a chance to accumulate interest and large balance.
What happens if you don’t pay off the balance at the end of the month? Well basically this may result in a hefty late payment fee and possibly restrict your usage of the card (Charge card) or have it cancelled entirely due to BAD RECORD.
My personal opinion… better get a Credit card unless you can budget your expenditure wisely and plan to fully pay off at the end of the month. :-)
