Know Your Credit, Charge, and Debit Card
With so many types of cards around, there may be a case of confusing choices. Here’s a clear breakdown of what the credit, charge, and debit cards are all about. Think about your needs and see which cards are the best fit for you.
credit card
charge card
debit card
builds credit
yes
yes
no
Accrues Interest
yes
no
no
Annual fees
sometimes
usually
no
Spending Limit
yes
no
yes
Allows Balance
yes
no
no