Card Comparison: Charge Cards Are Credit Cards Without Revolving Debt
Many people use the terms credit card and charge card interchangeably, but there are important differences. In general, a credit card lets you make purchases for which you are billed later. Most credit card accounts allow you to carry a balance from one billing cycle to the next; however, you have to pay interest on that balance. Usually, you have to pay at least a certain amount of your balance each time you receive a bill.
A charge card is a specific kind of credit card. The balance on a charge card account is payable in full when the statement is received and cannot be rolled over from one billing to the next. Because you cannot carry a balance, a charge card doesn’t have a periodic or annual percentage rate, so there is no rate for a charge card issuer to disclose.
Here are the major charge cards on the market:
| Card Name | Benefit | Requirement | |
 |
American Express® Preferred Rewards Gold Card |
No pre-set spending limit ; Earn 1 point for virtually every dollar you spend on Card purchases ; Instant Approval | Credit Required: Excellent Credit; Annual fee: 1st Year None; $125 Thereafter |
 |
New Millennium Bank Secured Platinum Visa® |
Operates on Visa Inc. network; When you apply, you get 1. Free companion air ticket valued at hundreds of $$$, 2. Membership in The World’s Best Travel Club, 3. Cash rebate of $69.00 on your first condo booking | Credit Required: Bad Credit; Annual fee:$59; Your credit line will be equal to and secured by your New Millennium Bank Savings account |
 |
New Millennium Bank Secured Platinum MasterCard® |
Operates on MasterCard network; When you apply, you get 1. Free companion air ticket valued at hundreds of $$$, 2. Membership in The World’s Best Travel Club, 3. Cash rebate of $69.00 on your first condo booking | Credit Required: Bad Credit; Annual fee:$59; Your credit line will be equal to and secured by your New Millennium Bank Savings account |
Important Disclaimer: the credit cards information in this post were accurate as of the date of publishing, some or all of the card programs may be discontinued, their terms may be changed after wards.
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[...] Express has recently rolled out a new charge card called Premier Rewards Gold Card that is targeted to people with excellent credit history. [...]