What is charge account?

charge account. charge account n. A credit arrangement in which a customer receives purchased goods or services before paying for them. charge account n (Banking & Finance) another term for credit account. charge′ account` n. an account, esp. in retailing, that permits a customer to buy goods and be billed at a later date.

What are the different types of charge accounts?

There are three primary types of charge accounts and a fourth type that is not discussed as often as the three primary types. Generally, charge accounts allow consumers to purchase goods or services and to pay for those goods or services at a later date. Charge accounts are also referred to as credit accounts.

What are some examples of a store charge account?

Most important, it offered credit, usually in the form of charge accounts. There were many larger department stores which opened store charge accounts for their customers with paper identification, enabling the customer to make purchases on credit provided by the store. These examples are from corpora and from sources on the web.

Can a buyer charge to a charge account?

He can charge to the account, if he is willing to pay interest, and send payment later than purchasing with cash. He will include a charge account for proper processing of purchase orders.