Credit Cards
A credit card allows you to pay for goods and services with
credit up to a limit agreed with your card issuer. You have to
pay back what you borrow - the costs, terms and conditions will
vary from card to card and interest is normally charged. |
Charge Cards
These are similar to credit cards. They allow you to pay for
goods and services on interest free credit but whatever you
borrow must be paid in full at the end of a specified period,
usually every month or you may incur fees. Cardholders may be
charged an annual fee. |
Store Cards
Store cards are a type of credit card. They can be used in fewer
places, often only in the individual shop or chain that issued
it. Interest rates on these cards tend to be higher than on
standard credit cards and credit limits tend to be lower.
However, many shops provide special offers to their cardholders. |