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Charge account
 

 

Another name for a credit account offered by a retailer, the purpose is to attract more trade by giving customers extended credit terms. Such accounts are now controlled by the UK Consumer Credit Act 1974, which not only makes the retailer obtain a licence but generally protects consumers from the consequences of their possibly over-hasty inclination to jump into credit agreements without proper advice.

Reference: The Penguin Business Dictionary, 3rd edt.