Charge cards and credit cards are both forms of cashless payments, but the way you pay them off is quite different. While credit cards allow you to carry a balance, charge cards must be paid in ...

When you carry a balance on your credit card, interest accrues daily based on the average daily balance. Overpaying can help lower this balance, leading to reduced interest charges.

Interest rates. Charge cards generally don't allow you to carry a balance, so they don't have interest rates associated with them. However, some charge cards may offer an optional pay-over-time ...