A charge card allows you to obtain a very short term loan for a purchase—usually about one month. While a credit card lets you only pay a minimum amount each month toward the purchase, a charge card requires that you pay for the purchase in full each month. In this way, there’s no minimum payment and no interest, as you’re paying for the full balance each month.
If you enjoy having no pre-set spending limit and repaying your full balance at the end of each month, a charge card could give you total control over your expenses.
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