Type of Credit That Requires Payment at One Time
- Some credit cards marketed to business travelers require payment in full. These cards are sometimes marketed as "gold" or "platinum cards" and offer such benefits as free travel assistance. Other specialty cards, like some gas station and office supply store cards, also require payment in full.
- Credit accounts requiring payment at once must be used carefully. Charging more than you can afford to pay back at once could force you to dip into your savings to pay your bill. Or you might be forced to make some other financial sacrifice.
- On the other hand, credit accounts requiring full payment can help you avoid long-term debt. Over a lifetime, that could mean saving thousands of dollars in finance charges. Without long-term debt, you may be better able to survive a job loss or some other financial emergency.
