JPMorgan Chase Bank launched a new small business credit card called the “
Ink” card that is the first Visa/Mastercard backed charge card. This move
is a bold foray into the previously American Express only market of charge
cards. Unlike a typical credit card a charge card must have it’s balance
paid off in full every month and carries no interest rate.
A charge card is a card used for payments that must be paid off in full
every billing cycle. Charge cards are unlike credit cards as they do not
allow users to have a balance from month to month and they do not charge
an interest rate.
