Charge Cards and Credit Cards: Know the Difference

Most people commonly consider charge cards to be similar to credit cards. However, according to financial experts, charge cards and credit cards are two different things. Common traits about these cards are that they look similar, assist you in buying goods on credit, and enable you to make purchases without using cash.

The main difference between these two cards is the ability to carry a balance from one month to another. With charge cards, you are expected to pay off the balance in full before the beginning of a new month. On the other hand, a credit card allows you to pay off your balance over time with some interest.

Differences Between a Charge Card and a Credit Card

Other than the ability to carry on balances, there are other significant differences between credit cards and charge cards. According to www.boostcredit101.com research, here are the differences between charge cards and credit cards.

Purchasing Goods and Services

Credit Cards

When using credit cards, you will receive a bill every month that reflects a statement balance and a minimum due. The statement balance is the total amount you owe while the minimum due is a small percentage of what you owe. Paying the minimum due means that you will avoid being charged late fees and you can still use the card to make payments. Furthermore, the statement balance will be carried over to the next month.

A credit card is subject to APR (annual percentage rate), which is charged when you carry a balance from one month to the next. APR is similar to an interest rate.

Charge Cards

Charge cards do not have an APR since you are expected to clear your balance before the beginning of a new month. If you fail to pay off the balance in time, you will have to pay a late fee.

Annual Fees

Annual fees are payments made by cardholders to help charge card companies operate efficiently.

Charge Cards

Charge cards have an annual fee since charge card companies don’t receive revenue from interest rates. With charge cards, you are expected to pay off your balance in full before a new month begins since the card has no interest rates.

Credit Cards

Credit cards have no annual fee because credit card companies receive revenue from the interest rate included with the cards.

Credit Cap

A credit cap or limit is the maximum balance you can have on a card at any possible time. Credit cards have a specific limit while charge cards have no spending limit.

Nonetheless, this doesn’t mean that you can spend an uncapped amount. Instead, charge cards have an unpublished maximum spending limit based on your spending habits.

Requirements

These are the factors that considered before one is either given a credit or charge card. Financial institutions offer credit cards to any level of credit from bad to excellent. However, for one to be issued a charge card, you need to have an excellent credit history.…

Searching For Tips On Facebook Marketing? Check These Out!

When it comes to marketing, why not use one of the most popular social media platforms in existence? Facebook marketing has taken off in recent years and for good reason, it is among the best ways to get your business exposed to the masses. Read on and learn everything you need to about Facebook marketing.

Integrate your Facebook page with your other campaigns. Place links to your Facebook page on your blog, website and in the signature of your professional emails. You should draw attention to your Facebook page by presenting it as a way to get access to exclusive content and more promotional offers.

Be sure to update your Facebook page regularly. It doesn’t matter how great your Facebook page is. If you’re failing to update on a regular basis, you could be losing the attention of your customers. Make sure you post to the page often and answer any customer questions or feedback in a timely manner.

Watch your grammar, even if you do not feel like it is necessary. You may feel like you can get away with a mistake here and there due to the nature of your business, but this is not true. If you know that your grammar has issues, run everything through a checker before you post it.

Contests are a fun way to build an audience. This can be done if someone likes your page. It will only cost you a small amount of money to garner a lot of attention and new followers.

Consider investing in Facebook Ads. You can pay a fee to have a certain number of targeted Facebook users see your ad. This is an excellent way to get more subscribers for your page. You will get better results if you offer a discount to the new subscribers or organize a giveaway.

Do not create postings that are far too long. While you may have a ton of information to share, nobody will want to wade through 1,000 words to get to the point. Try to keep all of your postings as short as possible, but make sure they are well-written. You want people to be able to grasp the main idea.

When you get advice about “the best” of something, such as the best type of post, or the best type of content, or the best time to post, it will already no longer be the best. Why? Because your competition has read that post too and will be following it. Research your target audience and figure out your own personal “bests”.

Try to create a dialogue with your customers. Ask them what kinds of products are their favorite or if there is anything they would like to see added to your business. Try to keep the topics for dialogue positive. Do not ask them what was the worst experience they had with you or one of your products

As you now know, Facebook marketing can be extremely advantages in helping your business grow. It won’t be easy, and there is a lot of work involved, but if you use the information given earlier, there is no reason why it can’t work for you. Implement the tips mentioned and take your business to a whole new level.…