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A
charge card is similar to a credit
card , except that the charges made to it must be paid-off
each month, rather than having revolving credit which carries
a balance forward. Many people are not aware of this distinction
however, and often interchangeably use "charge card"
to describe any card which can be used as payment, or "credit
card" for any credit or chargecard.
Governments and large businesses often use charge cards to
pay and keep track of expenses. Some high-end retailers like
Neiman Marcus issue charge cards to customers. Some American
Express and Diners Club cards are also chargecards, rather
than credit or debit cards like VISA and MasterCard.
In 1914 Western Union offered the first chargecard for consumers.
See:
• Credit
Card
• Debit
Card
• VISA
Card
This
article is licensed under the GNU
Free Documentation License.
It uses material from the Wikipedia
article "Charge Card".
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