48 SMART: Charge Card vs Credit Card
+Smartan Dad

Saturday, 21 April 2012

Charge Card vs Credit Card

This is the most classic and well-known charge card in the world. I remembered last time whenever I shopped for wallets, I could always see the imitation of this AMEX charge card inside the wallet. Charge card is quite similar to credit card with some differences in payment.


 

 

 

 

 

 








Charge Card


  1. No preset credit limit.
  2. Must settle full amount of statement before due date.
  3. Late payment charge, minimum RM50 or 3.5% of unpaid balance, whichever is greater.

Credit Card


  1. Credit limit is preset, cannot spend beyond the limit.
  2. Only need to settle minimum RM50 or 5% of statement balance, whichever is higher.
  3. Late payment charge, minimum RM10 or 1% of outstanding balance, whichever is higher.

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