Mos, feel free to bug us with your questions. Everyone loves sharing their little tidbits of knowledge. It's what makes creditnet so unique. :-)

Credit cards allow you to revolve a balance on a monthly basis, that is, to carry a balance. If you carry the balance, you will pay monthly finance charges. I would say the pros of having a credit card is you can spread large expenses out over time, but the downfall is the interest which can eat you up if you aren't careful.

Charge cards are paid off monthly. So, if you charge $1,000 on that card this month, you will have to pay the entire balance in full. The advantage is no interest is ever accrued, as your balance is paid in full monthly. The disadvantage could be the possibility of charging so high a balance you can't pay it off in full, but if you're responsible, you should be ok. One charge card is American Express Green, and there are others too.

Any more questions, just feel free to ask.