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Difference between charge card and credit card?

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arjames01
Contributor

Re: Difference between charge card and credit card?

Thanks, I prefer to stay away from AMEX. I've read toooo many horror stories here! LOL Thanks again everyone for the clarifications.

11/2013- EX 690, EQ 763, TU 694
01/2015- EX 781, EQ 775, TU 777

Chase Freedom $7500, AMEX BCE $6000
Message 11 of 14
Anonymous
Not applicable

Re: Difference between charge card and credit card?

I have an AMEX charge card through work (it doesn't report) and I've been wondering: what happens if you DON'T PIF when due? My statements always say that payment is due in full immediately, but usually I pay online before I even get the statement, so I don't really worry about it, but no where in any paperwork can I find what happens if I only pay part.  Do they charge interest, or just fees, or do they just sue you for the balance? :smileyvery-happy:
Message 12 of 14
haulingthescoreup
Moderator Emerita

Re: Difference between charge card and credit card?

Check your online statement --somewhere around page 2 or later, they'll spell it all out. Generally it's interest, but you really don't want to catch their attention. It reminds me of Frodo putting on the Ring, and the Eye of Mordor suddenly swivels around to check things out.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 13 of 14
Chopbrocoli
Established Contributor

Re: Difference between charge card and credit card?

 


@Anonymous wrote:
I have an AMEX charge card through work (it doesn't report) and I've been wondering: what happens if you DON'T PIF when due? My statements always say that payment is due in full immediately, but usually I pay online before I even get the statement, so I don't really worry about it, but no where in any paperwork can I find what happens if I only pay part.  Do they charge interest, or just fees, or do they just sue you for the balance? :smileyvery-happy:

 

If the balance is not paid in full, they will pretty much slap a red flag on your account and charge you late fees and etc while demanding immediate payment. However, if you miss another payment in the future, they will probably assign your account to Nationwide for collections. Apparently it has happened to a couple of people here.

AMEX Gold Premier Rewards | SPG AMEX | Bank of America Power Rewards | Merrill Plus | United Presidential Plus | Saks World Elite
Message 14 of 14
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