What Is a Charge Card? Pros, Cons, and Alternatives

A charge card is one of the many forms of plastic you can carry in your wallet (or the virtual plastic you can keep in your digital wallet app). It looks, feels, smells and tastes a lot like a credit card, but there are some key differences between the two.

Here’s everything you need to know about charge cards, how they work, how they’re different from credit cards and why you’d want one (or not).

What Is a Charge Card?

A charge card is a payment method that resembles a credit card but has no preset spending limit and must be paid in full each month. A charge card doesn’t come with a minimum payment option like a credit card, and will charge late fees if you don’t pay off a monthly balance, rather than letting your balance accrue interest.

Charge cards are quite rare for individuals (you’re more likely to see credit cards), but you might see this credit option for cards offered by gas stations or retail store chains (though many store cards are regular credit cards now, too).

Most remaining charge cards are designed for businesses or high-earning individuals.

The terms “charge card” and “credit card” are often used interchangeably, but they’re not the same type of account. The key differences are in how you repay the creditor for your charges.

Charge Card vs. Credit card

Features Charge Card Credit card
Transactions Swipe or enter number to make a purchase on credit Swipe or enter number to
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Is Taking Social Security at 62 a Huge Mistake?

When your 62nd birthday approaches, you’ll have a big decision to make: Should you take Social Security at 62 and accept lower benefits? Or should you delay Social Security to get a higher benefit amount?

The answer to whether taking Social Security at 62 is the right move for you depends on several factors: your life expectancy, whether you’re retiring early and your overall financial situation. Here are some things to consider in your retirement planning.

How Claiming Social Security Early Works

If you’re claiming Social Security based on your own record or you’re taking spousal benefits, you can start benefits as early as age 62. If you’re a surviving spouse, you can begin receiving benefits at 60. However, by taking benefits earlier, you’ll face a lifetime benefit reduction.

Your Social Security benefit is based on your primary insurance amount. That’s the amount you’d receive if you started your benefits at full retirement age. If you were born in 1960 or later, your full retirement age is 67. Full retirement age ranges from age 66 for those born in 1943 to age 66 and 10 months if you were born in 1959.

Any time you take Social Security before your full retirement age, you’ll have to accept a reduced benefit. Your benefit will be 6.66% lower for each year of early benefits. If you start them at that the earliest eligible age of 62, your benefits will be 30% lower than they’ll be if you wait until you reach normal

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How I’ve Made Over $1,000,000 With A Subscription Box Business

Do you want to learn how to start a subscription box business?

Here’s how you can start a subscription box business and turn it into a part-time side hustle or even a full-time income.how to start a subscription box business

Today, I am interviewing a subscription box expert, Sarah Williams. Sarah built a seven-figure subscription box business in only three years.

She is the CEO and founder of two 7-figure businesses, Framed by Sarah and Launch Your Boxwhere Sarah has worked with thousands of subscription box owners and those wanting to start a subscription box, providing in-depth training that takes them through each step of starting, launching, and growing their business.

I recently asked Sarah to take part in an interview to answer some of the common questions you may have about how to start a subscription box business.

Are you wondering questions such as:

  • How do subscription boxes work?
  • What are some subscription box business ideas that a person could start right now?
  • How much does it cost to start a subscription box business?
  • How do you find customers?

If so, please continue reading the interview below to see the answers to the questions above as well as answers to other common questions.

If you are interested in starting a subscription box business, I recommend signing up for Sarah’s free workshop so that you can take the first step. This workshop will help you figure out what you put in your subscription box, create a plan for your subscription box business, and launch

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