Who can get a charge card?
Charge cards are primarily aimed for those with a high income or for businesses charging the company account.
Many charge cards will only accept you if you earn more than their minimum amount (e.g. £60,000) and have a strong credit record.
Businesses can issue several cards to their employees and keep track of what each one has spent when they pay them off each month. As long as repayments are made in full there will be no interest charges and debts on the card.
Some cards even offer detailed management information, which includes reports, patterns and statistics on spending.
How to get a charge card
To find the best deal you’ll need to shop around and compare your options. This includes checking the annual fee and looking at the benefits each card offers. You’ll need to work out if you would use the benefits and if they are worth the fee the card charges.
If you think you could ever miss a repayment or would want to use the card to borrow, a credit card could work out much cheaper. This guide explains how to choose the right type of credit card.