Credit Card vs. Charge Card: What’s the Difference?

One of the confusions that come up when many people use plastic is the difference between a credit card and a charge card.

In some cases, they are basically used as the same thing, especially since there are very few true charge cards in use these days.  Most people swipe credit cards instead of charge cards.

Difference Between a Credit Card and a Charge Card

What is a Charge Card?

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Use a Credit Card to Build Your Credit History Fast

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You are probably aware that your credit history is an important part of your financial well-being.

Indeed, your credit history impacts what you pay for loans — and whether you get them in the first place.

Your credit history can also affect your insurance premiums, employment prospects, and even what happens when you try to sign up for cell phone service.

Many people want to know how they can establish a credit history quickly.  It’s true that it can take years and years to build a solid financial reputation.  But, if you want to kickstart your credit history, a credit card is probably the fastest way to do so.

Immediate Impact on Your Credit

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Credit Card Fees: Eroding Your Wealth

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One of the worst drains on your wealth is likely to be fees.

When you pay fees, you are paying some sort of penalty.  You don’t receive any product or experience in return for the fee.  Instead, it’s just money that goes right to someone else, rather than helping you build more wealth over time.

Credit card fees can be eroding your wealth, taking your resources and using them to enrich others.  As you manage your money, consider which fees you are paying — and how you can avoid them.

Here are Some Credit Card Fees that May Be Eroding Your Wealth

Over the Limit Fees

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