Charge card

Personal finance
Credit · Debt
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Employment contract
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See also
Asset pricing Bank Citizen's dividend Cooperative Credit union Economic bubble Financial deepening Financial inclusion Financial risk Fintech Guaranteed minimum income Market impact Risk-return spectrum Social dividend Structured product Sustainability Systematic risk Universal basic income Volatility (finance) Watered stock
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A charge card is a type of credit card that enables the cardholder to make purchases which are paid for by the card issuer, to whom the cardholder becomes indebted. The cardholder is obliged to repay the debt to the card issuer in full by the due date, usually on a monthly basis, or be subject to late fees and restrictions on further card use. Charge cards are distinct from traditional credit cards, which are revolving credit instruments that do not need to be paid in full every month and a balance may be carried over, on which interest is paid. Charge cards are typically issued without spending limits, whereas credit cards usually have a specified credit limit that the cardholder may not exceed. Most charge cards are held by businesses, corporations or executives thereof, and are issued to customers with a good or excellent credit score.