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Tipping Point: What is the difference between a credit card, a charge card? | Business Standard subscription

Tipping Point: What is the difference between a credit card, a charge card?

Business Standard |  Jun 22, 2017 12:34 AM IST


In a charge credit card, you have to pay the entire bill every billing cycle. In a credit card, you can pay only the minimum amount due, which is usually five per cent and pay interest on the rest. Also, credit cards come with a credit limit, whereas charge cards don’t have a pre-set limit. The charge card issuer keeps a limit based on spending pattern, financials and credit record.  
 
What happens if you don’t settle the entire bill in charge cards every month?
 
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