Difference between a credit card and a charge card
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Difference
between a credit card and a charge card.
The best reasons to use a credit card are for convenience, flexibility, and for the purchase benefits that many new cards offer. Who's in Charge Make sure YOU manage your credit card; it shouldn’t manage you. A credit card is like a short-term loan. It’s is the most popular form of personal credit, but also the least understood. Although it might seem easy to use — just swipe, right? — there’s a right way, and a wrong way, to use a credit card. The Right Way to Charge It There is a school of thought that believes that a credit card can be used for all kinds of purchases. However, you could manage your spending better if you charged major expenses on your credit card, as it provides a good indication of your monthly expenses. Another good way to use your credit card is for purchases that are linked to “offers” or “points” that can be redeemed at a later date. It is advisable that you use your credit card as a convenient and valuable purchasing tool, rather than as a matter of habit. Remember, your card is meant to be a help, not a hindrance. |
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About the Author
Ramesh Guptha,
Welfare Inspector,
Central Railway.
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