What is the difference between a credit card and a charge card?

The difference between a credit card and a charge card is that credit cards are a type of loan that borrowers take out from a financial institution in order to purchase goods and services. Credit cards are typically issued by banks and have their own revolving balance and separate interest charges. A charge card, on the other hand, is a type of loan that is kept at a specific store. It is usually used to purchase items from that store only, and users have to pay the full balance each month to avoid late fees. The balance on a charge card cannot be rolled over from month-to-month like a credit card can. Each state, including Delaware, has its own credit card law that outlines the rights and responsibilities of credit card holders. These laws are designed to help protect consumers from unfair practices by lenders. In addition, they should provide an understanding of the different types of credit and the consequences of not paying off balances.

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What is the difference between a credit card and a charge card?

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