| an identification card used to make purchases on a charge account; a charge plate. |
| charge card n. See credit card. |
| credit card n. A plastic card having a magnetic strip, issued by a bank or business authorizing the holder to buy goods or services on credit. Also called charge card. |
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.
Investopedia Commentary
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.
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Credit, Debit And Charge: Sizing Up The Cards In Your Wallet
Understanding Credit Card Interest
The Importance of Your Credit Rating
Seven Common Financial Mistakes
See also: Credit Bureau, Credit Card, Credit Rating, Credit Report, FICO Score, Line of Credit - LOC