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Mike2006

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What is the difference between a Charge Card and a Revolving Credit Card?
CK advises to have "A good mix of revolving credit cards, charge cards and mortgages" under Accounts. Do they mean Department store cards by Charge Cards?

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Re: charge card vs revolving

Helpful to 3 out of 3 people

a charge card (like american express green, gold, or platinum) is used like a credit card, except that you have to pay your balance in full each month.  there is no set credit limit or minimum payment, and no interest rate.

a revolving card is a credit card with a credit limit, minimum payment, and interest rates.

Reply by
Mike2006

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Thanks, I guess I won't be adding a charge card to my credit profile soon then. Unless American Express offers a secured card.

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