A charge card is a particular type of credit card. Unlike a credit card, the balance on a charge card account has to be paid in full each month and cannot be rolled over to the next billing cycle.

Advantages of Charge Cards

1. You have to keep your spending in check, because you have to pay back the full amount at the end of the month. If you're tempted to carry forward debt with your credit card, switching to a charge card may rid you of the temptation.
2. There is no spending limit on a charge card, or the limit is very high compared to a credit card. In theory, you can spend as much as you want on a charge card. But it's no invitation to splurge. 
3. You won't pay interest on a charge card.
4. Reward programs offered by charge cards are usually much more generous than credit cards. The perks range from free companion airline tickets and hotel upgrades to free memberships in "elite" travel programs from airlines, hotels and rental car companies.

Disadvantages of Charge Cards

1. You may be in the habit of paying your balance in full every month. But if you have a sudden emergency, you can't put those extra expenses on your charge card. That's where a credit card would come in handy, or more importantly, an emergency fund.
2. If you don’t pay your bill in full by the end of the month, you’ll be hit with fees and penalties. Some charge cards have an annual fee. Most credit cards have little or no fees and make money from interest payments.
3. Getting a charge card issued to you is usually tougher than obtaining a credit card. You need to have stellar credit.
4. Credit cards are accepted at more locations worldwide compared to charge cards.
5. If you are in the habit of paying off your bill in full every month, a credit card generally is the cheaper option. If you don’t roll over your debt on a credit card, you can avoid high interest payments.

Charge Card v. Credit Card

You should choose a charge card over a credit card only if you have a secure income and/or substantial savings. If you are not confident you can pay off your balance in full every month, it’s better to opt for a credit card. If you need flexibility and extra time to return what you borrowed, a credit card will serve you better.

Even if you have a charge card and are careful about your spending, having a credit card as well will give you flexibility in an emergency.

Charge Card and Credit Score

If the balance on your charge card is high, it won’t hurt your credit score as long as you pay your bill in full and on time. Just like credit cards, paying short or late will bring your score down.