What Is a Charge Card?
Most remaining charge cards are designed for businesses or high-earning individuals.
The key differences are in how you repay the creditor for your charges.
7 Ways to Make Money if You Hate People
Do you avoid people too?
Enough small talk.Here are some waysto earn extra cash, without all of the social stuff.
A charge card doesnt come with a spending limit.
Your balance doesnt accrue interest.
Credit Scores
Charge cards and credit cards can affect yourcredit scorea little differently.
Credit cards are a major contributor to this.
Because charge cards dont impose a spending limit, your spending on those cards doesnt count toward credit utilization.
Neither VantageScore nor FICO (the major scoring models) take charge card balances into consideration when calculating utilization.
That doesnt mean your charge card balance doesnt impact your score, though.
How Do Charge Cards Work?
Pros and Cons of a Charge Card
There are pros and cons to using a credit card.
However, credit cards tend to come with better rewards programs than charge cards.
Theyre most often available for businesses or high-earning individuals.
They help improve cash flow by letting you make purchases anytime and paying your balance in full each month.
Most charge cards require an excellent credit score (around 750 and above) and high income.
Here are nine of thebest credit cards with no annual feesfor 2022.
Charge cards dont typically charge interest, as credit cards do.
Instead, your outstanding balance is due in full each month.
No Interest Til Almost 2027?
Balance Transfer = Credit Card Cheat Code
