Charge Cards

Forumgirl

Hiya,

Does anyone know of any charge cards other than ame? I've tried to find one but not having much luck?

Thanks

Saucepot

Do Diners Club still do one?

Forumgirl

Saucepot wrote: »

Do Diners Club still do one?

I'll look into that, thank you

Curt.

Mark have one:

http://money.marksandspencer.com/cards/charge-card/overview/

And it has no fee, and you don't have to pay off everything full, so nothing like Amex at all really.

There are loads out there but most are tailored to very high end/income customers. Would that include you? If not i don't want to spend like a half hour linking to half of them and putting the details of which one entails what, for no reason.

Curt.

Saucepot wrote: »

Do Diners Club still do one?

It is, but i'd say wait on that and don't go with them. Give it however long it takes for Citi to get rid of it and then go for it.

Curt.

Btw Forumgirl, i just saw your other thread about your Barclaycard, it is an interesting theory to use a charge card instead as a detterant for yourself. They will likely decline any purchases they suspect are too big for you to repay but i didnt realize you wanted one specifically where you have to pay off the balance in full every month.

If you do, then again there are some other than Amex but they are usually for people who earn 6 figure salaries and what not. If you can give a rough estimate of what your incomming and outgoing averages are of a month or year i may be able to better help provide something you may be looking for.

EarthBoy

Curt. wrote: »

Mark have one:

http://money.marksandspencer.com/cards/charge-card/overview/

And it has no fee, and you don't have to pay off everything full, so nothing like Amex at all really.

The Marks and Spencer's card may be called "chargecard" but it isn't really a charge card at all. It's a store card, i.e. a credit card that can be used at M & S only. They also do a credit card.

A true chargecard is like American Express (the original version, not the credit card version), where paying off the full balance every month is compulsory.

chattychappy

EarthBoy wrote: »

A true chargecard is like American Express (the original version, not the credit card version), where paying off the full balance every month is compulsory.

Yeah, but at least when I had it (I had platinum) they weren't too bothered if you didn't. They just applied "late payment fees" and let you carry on spending. I never pushed it myself, but from people I knew you could get away with at least 2 or 3 months.

The fees were a % of the balance due. Really just like interest!

bengal-stripe

Curt. wrote: »

.......it is an interesting theory to use a charge card instead as a detterant for yourself. They will likely decline any purchases they suspect are too big for you to repay

A classic charge card like AX or Diners has (officially) no pre-set spending limits.

There probably is one behind the scenes to stop you running amok with the card, but it will get revised by computer all the time, depending on your spending habits and your payment records.

Operating a charge card, you will need very good self control, otherwise you’ll need access to virtually unlimited funds.

Curt.

bengal-stripe wrote: »

A classic charge card like AX or Diners has (officially) no pre-set spending limits.

They both refuse to honor transactions when they suspect you can't pay it back. Never happened to me thankfully but the "no pre set limits" are in name only. (Though apparently it caps out at like folks earing 125K or so and above and then they usualy honor anything under a million).

Operating a charge card, you will need very good self control, otherwise you’ll need access to virtually unlimited funds.

I would have thought if they do indeed refuse certain transactions (its generaly capped at how much you earn per month from what i have heard) it is somewhat more restrictive than a Credit Card, no? Especially with the likes of Amex when you have no choice but to pay it all off evey month...some like Citi charge a "handling fee" of 3.75% every month you don't pay off the balance in full which is the equivelant of over 40% APR...

Curt.

EarthBoy wrote: »

The Marks and Spencer's card may be called "chargecard" but it isn't really a charge card at all. It's a store card, i.e. a credit card that can be used at M & S only. They also do a credit card.

I didnt realize it could only be used in Marks, kind of useless i guess if that is the case.

A true chargecard is like American Express (the original version, not the credit card version), where paying off the full balance every month is compulsory.

Yeah and like i said above there are a few out there like that but it all depends on the person's needs and earnings etc.

Personally i think Amex are the only ones who generally get the idea of a Charge Card correct...