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charge card vs revolver

New Contributor
50.182.164.101

charge card vs revolver

Can someone explain to me the difference between the two and also how to differentiate a card from the other, I quite still don't understand which is which.

Thanks!
Current Cards: NFCU Signature Cash Reward $12.5k 1.5% || NFCU OLOC $3k || AMEX True Earnings $1.2k 3% Gas 2% Dining & Travel || Walmart $1k || Barclay Apple $1.7k
Goal Cards: AMEX Blue Cash Preferred 6% Grocery 3% Gas & Dept. Stores || Chase Sapphire Preferred 2x Travel & Dining || Chase Freedom 5% category per quarter || Discover IT 5% category per quarter || PenFed Platinum Cash Rewards 5% Gas
Starting Score: 589 (2013Dec) Current Score: TU 751(Walmart FICO 201404) || EQ 726(NFCU 201405)|| EXP 652(AMEX 201403)
Goal Score: 700+ ALL Around
Message 1 of 9
8 REPLIES
Valued Contributor
50.182.164.101

Re: charge card vs revolver

Charge card must be PIF every month, revolver can carry a balance.  The terms of the card show which is which.

AMEX (BCP - $25K, Platinum - NPSL, SCP Bus - $17.5K, SPG - $20K)|BOA (BBR - $15K, CR - $15K)|Barclays (Arrival+ - $17.5K, Ring - $15K)|Blispay - $10K|CAP1 (QS - $30K, Venture - $30K)|Chase (AARP - $15K, freedom - $5.5K, CSP - $25K, MRP Bus - $15K, Slate - $13.5K)|Citibank (DC - $28.2K, HD - $25K)|Discover it - $32.5K|Fidelity IR - $16K|Huntington Voice - $17K|LMCU - $10K|NFCU (cashRewards - $30K, GoRewards - $30K, CLOC - $15K)|PFCU (CR - $30K, Defender - $20K, LOC - $10K)|Synchrony Lowe's - $25K|US Bank Cash + ($12.5K, $21K)|USAA (Cash Rewards - $16K, Rewards - $23.4K, WPAOG - $10.5K)
Message 2 of 9
New Contributor
50.182.164.101

Re: charge card vs revolver

Poster above me basically summed it up. If you don't PIF a charge card you have some serious penalty fees and possibly losing the card. Also you have a longer period to pay off your balance with a  charge card versus a credit card. A credit card allows you to carry a balance over time if you choose too. 

7.5k4.6k500NPSL1.2k
TU 732 EX 720 EQ 714
Credit Journey Started September 2013
Message 3 of 9
Senior Contributor
50.182.164.101

Re: charge card vs revolver

Based on the info from your siggy:

 

REVOLVERS:  You can leave a balance every month ( AMEX BCP, AMEX TU) with various APR on each card based on your credit worthiness

 

CHARGE CARDS:  Must pay in full every month (AMEX GREEN, GOLD, PRG, PLATINUM) no APR because you pay in FULL every month.

 

 

JPM Ritz Carlton $8k I UMP Club $8k I CSP $8k | Chase Hyatt $5k I AMEX Green NPSL I AMEX Delta $2k I Citi AA $2k | C1 QS $4.5k
BOA UNC-CH Alumni $6k I Hawaiian WEMC $3k I Arrival $6.5k I IT $1.5k | Merrill+ $2k | Lowes $12k | Apple $2k | +23more
Scores: EQ:671 (FICO 11) EX:686 (FICO N/C) TU:686 (FICO N/C) *8-5-14*
Overall UTIL: 14% *Gardening Since: 1/20/16*
------------------------------------------------------------
Need to stay out of trouble.... Go Heels!!! ... GC Watchlist ( #1 since 12-12-13)
Message 4 of 9
New Contributor
50.182.164.101

Re: charge card vs revolver

Awesome thank you! Anyone know if there's a list of charge cards out there
Current Cards: NFCU Signature Cash Reward $12.5k 1.5% || NFCU OLOC $3k || AMEX True Earnings $1.2k 3% Gas 2% Dining & Travel || Walmart $1k || Barclay Apple $1.7k
Goal Cards: AMEX Blue Cash Preferred 6% Grocery 3% Gas & Dept. Stores || Chase Sapphire Preferred 2x Travel & Dining || Chase Freedom 5% category per quarter || Discover IT 5% category per quarter || PenFed Platinum Cash Rewards 5% Gas
Starting Score: 589 (2013Dec) Current Score: TU 751(Walmart FICO 201404) || EQ 726(NFCU 201405)|| EXP 652(AMEX 201403)
Goal Score: 700+ ALL Around
Message 5 of 9
Senior Contributor
50.182.164.101

Re: charge card vs revolver


Sedah wrote:
Awesome thank you! Anyone know if there's a list of charge cards out there

AMEX GREEN, GOLD, PRG, PLAT, MERCEDES BENZ PLAT.   Others can chime in if i missed anything.

JPM Ritz Carlton $8k I UMP Club $8k I CSP $8k | Chase Hyatt $5k I AMEX Green NPSL I AMEX Delta $2k I Citi AA $2k | C1 QS $4.5k
BOA UNC-CH Alumni $6k I Hawaiian WEMC $3k I Arrival $6.5k I IT $1.5k | Merrill+ $2k | Lowes $12k | Apple $2k | +23more
Scores: EQ:671 (FICO 11) EX:686 (FICO N/C) TU:686 (FICO N/C) *8-5-14*
Overall UTIL: 14% *Gardening Since: 1/20/16*
------------------------------------------------------------
Need to stay out of trouble.... Go Heels!!! ... GC Watchlist ( #1 since 12-12-13)
Message 6 of 9
Frequent Contributor
50.182.164.101

Re: charge card vs revolver


yudeology101 wrote:

Sedah wrote:
Awesome thank you! Anyone know if there's a list of charge cards out there

AMEX GREEN, GOLD, PRG, PLAT, MERCEDES BENZ PLAT.   Others can chime in if i missed anything.


Is a Chase Ink a charge card?

Message 7 of 9
Senior Contributor
50.182.164.101

Re: charge card vs revolver


Pat94108 wrote:

yudeology101 wrote:

Sedah wrote:
Awesome thank you! Anyone know if there's a list of charge cards out there

AMEX GREEN, GOLD, PRG, PLAT, MERCEDES BENZ PLAT.   Others can chime in if i missed anything.


Is a Chase Ink a charge card?


Yes, Chase Ink Bold is a charge card, versus Ink Plus is a revolver.  ::edited for typo::

JPM Ritz Carlton $8k I UMP Club $8k I CSP $8k | Chase Hyatt $5k I AMEX Green NPSL I AMEX Delta $2k I Citi AA $2k | C1 QS $4.5k
BOA UNC-CH Alumni $6k I Hawaiian WEMC $3k I Arrival $6.5k I IT $1.5k | Merrill+ $2k | Lowes $12k | Apple $2k | +23more
Scores: EQ:671 (FICO 11) EX:686 (FICO N/C) TU:686 (FICO N/C) *8-5-14*
Overall UTIL: 14% *Gardening Since: 1/20/16*
------------------------------------------------------------
Need to stay out of trouble.... Go Heels!!! ... GC Watchlist ( #1 since 12-12-13)
Message 8 of 9
Valued Contributor
50.182.164.101

Re: charge card vs revolver


Pat94108 wrote:

yudeology101 wrote:

Sedah wrote:
Awesome thank you! Anyone know if there's a list of charge cards out there

AMEX GREEN, GOLD, PRG, PLAT, MERCEDES BENZ PLAT.   Others can chime in if i missed anything.


Is a Chase Ink a charge card?


The Ink Bold is their charge card.

Scores 5/15/2016 (clean reports!): TU Walmart FICO: 696 | EQ FICO: 679 | EX AMEX FICO: 680

In my new wallet: American Express Green EMV: PSL $2000 | BankAmericard Cash Rewards Visa EMV: $2500 | Citi AAdvantage Platinum Select World MasterCard: $6400 | Barclaycard Arrival World MasterCard: $1000 | Discover IT: $2500 | Amazon Rewards Visa Signature: $1500 | Chase Freedom: $1500 | Capital One QuicksilverOne MasterCard: $2100 | Target: $2800 | J.Crew $21,550 | Marvel (Captain America) MasterCard: $6000
Message 9 of 9