Definition

1. Noun:
   • Credit extended by a business to a customer: A formal arrangement where a business allows a customer to purchase goods or services and pay for them at a later date, typically on a monthly billing cycle.

Usage Examples

• Noun:
  • She put the new dress on her charge account at the department store.
  • The store offers a charge account with no interest for the first six months.
  • He paid off his charge account balance in full every month.

Advanced Usage

• "to have a charge account": to be a customer who has been granted credit by a specific business.
  • Only customers who have a charge account with us can receive these special billing offers.
• "to open/close a charge account": to establish or terminate a credit arrangement with a business.
  • You can apply to open a charge account online or in the store.

Variants and Related Words

• Charge card (n): A card issued by a specific retailer or business for use with its charge account. (Note: This is a related compound term, not the target word itself).
• Account (n): A record of financial transactions; a broader term that can include charge accounts, bank accounts, etc.
• Store credit (n): A similar concept, often referring to credit issued for a specific store or chain.

Synonyms

• Credit account: An account allowing the purchase of goods or services with payment deferred.
• Revolving account: A type of credit account that allows repeated borrowing up to a set limit as payments are made.

Related Phrases

• "on account": As an idiom meaning to be paid for later, often using a charge account.
  • She took the furniture on account and will pay the bill next month.
• "charge it": A common instruction to put a purchase on one's charge account.
  • When asked how he would like to pay, he said, "Just charge it to my account."

Notes on Meaning

The term charge account specifically implies a credit relationship with a single business or retailer. It is distinct from a general-purpose credit card issued by a bank, which can be used at many different merchants. The primary function is to facilitate deferred payment for purchases from that specific creditor.

Noun

1. credit extended by a business to a customer