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Charge Card
Explanation:
Many people use the terms credit card and charge card interchangeably, but there is a major difference.
Charge cards are credit cards that require the balance to be paid in full at the end of every month.
Because you cannot carry a balance, a charge card doesn't have an APR or Interest Rate.
Our Thoughts:
A partial payment (or no payment) on your charge card might result in a severe late fee, as much as 3% of the balance.