The concept of the charge card did not quite hit success as, the consumer was expected to pay the whole amount at the end of each month, for example if one purchased a product or service for $250 on the 20th of the month, each card comes with a billing period and on the charge card by the end of the billing period the consumer is expected to pay the complete amount spent.
The concept of a credit card on the other hand is different as the consumer is not expected to pay the whole amount, however based on the Annual Percentage Rate; the credit amount on the card etc determines a minimum amount that the consumer is expected to pay until the credit is completely recovered.
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All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
