Editing Charge card (section)

{{Short description|Credit card which must be paid in full}}
{{use American English|date=August 2022}}
{{use MDY dates|date=August 2022}}
{{Personal finance}}
A '''charge card''' is a type of [[credit card]] that enables the cardholder to make purchases which are paid for by the card issuer, to whom the cardholder becomes indebted. The cardholder is obliged to repay the [[debt]] to the card issuer in full by the due date, usually on a monthly basis, or be subject to late fees and restrictions on further card use. Charge cards are distinct from traditional [[credit card]]s, which are [[revolving credit]] instruments that do not need to be paid in full every month and a balance may be carried over, on which interest is paid. Charge cards are typically issued without spending limits, whereas credit cards usually have a specified credit limit that the cardholder may not exceed.  Most charge cards are held by businesses, corporations or executives thereof, and are issued to customers with a good or excellent [[credit score]].