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What is the difference between a credit card and a charge card?

The defining difference between credit cards and charge cards lies in your ability to carry a balance — that is, roll debt over from one month to the next. Traditional charge cards don't let you do that; you must pay the balance in full every month. Credit cards let you pay for purchases over time, usually with interest.

Is a charge card a good idea?

Charge cards are much less common than they used to be. Some charge card issuers also offer credit cards as well, which tend to be more flexible over the long-term. With a charge card, you can buy things on credit without paying interest—if you pay your balance in full every month.

Should you use a charge card or a credit card?

If you pay your balance in full and on time every month, a charge card might be a good choice, says credit expert John Ulzheimer, formerly of FICO and Equifax. “At the end of the month, you have to write, in some cases, a really big check,” he says about charge cards.

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