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What is Charge Card?

Posted in Glossary by Johns Wu
January 31, 2007 12:30 AM - 1 Comments

Charge Card

A consumer financing tool that acts like a credit card without the interest rate. In return,the borrower should pay the debt upon the receipt of the statement. A charge card has a much higher spending limit than a credit card. However, stringent penalties will apply for any unpaid balance and charge card transactions may require additional fee. Users cannot carry a balance in their charge card from one month to the next.

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