charge account

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Sure! Let's break down the term "charge account."

Definition:

A charge account is a type of account that allows a customer to buy goods or services from a store or business and pay for them later rather than at the time of purchase. This means the store gives credit to the customer, allowing them to owe money instead of paying immediately.

Usage Instructions:

• A charge account is typically used in stores where customers can make purchases on credit.
• Customers need to apply for a charge account, and the store will check their creditworthiness.
• When using a charge account, it’s important to pay off the balance within a certain time to avoid interest charges.

Example:

• "I opened a charge account at the department store so I could buy the winter coat now and pay for it later."

Advanced Usage:

• Charge accounts can be linked to loyalty programs, where customers earn points for each purchase made on credit.
• Some businesses may offer promotional periods with no interest on charge account purchases if paid within a specific time frame.

Word Variants:

• Charge (verb): To make a purchase using a charge account.
  • Example: "I will charge the new shoes to my account."
• Account (noun): A record of financial transactions.
  • Example: "I have an account at the bank."

Different Meanings:

• Charge can also mean to ask for payment for a service or product.
  • Example: "The restaurant charges $20 for a meal."
• Account can refer to a narrative or report of an event.
  • Example: "He gave an account of his travels."

Synonyms:

• Credit account
• Charge card account
• Store credit account

Idioms:

• There isn’t a specific idiom for "charge account," but you might hear phrases like "on credit" which means buying something now and paying later.

Phrasal Verbs:

• Charge up: To increase the amount of credit available or to make a payment on the account.
  • Example: "I need to charge up my account before making any more purchases."

Summary:

A charge account is a helpful way for customers to buy items without immediate payment, but it’s important to use it wisely to avoid debt.

Academic

Noun

1. credit extended by a business to a customer

Synonyms

• credit account
• open account