Thursday, July 7, 2016

Credit use by generation: Who's doing the best job?

 
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'Cashing In by Tony Mecia
Card issuers impose limits on rewards card churning
Limits make it tougher to churn through credit cards to milk them for sign-up bonuses while ducking the fees.



 
'Opening Credits by Erica Sandberg 
New card application may renew debt collection
If you have debt in collections, creditors may come calling once they see you are seeking more credit.



 
'To Her Credit by Sally Herigstad 
Aging father's big card debt puts his home at risk
With equity in his home, he risks creditors slapping a lien on it for repayment, or worse, a forced sale.
At music festivals, cashless is all the rage
Instead of worrying about losing cards or on-site ATMs with high fees, festivalgoers can focus on the music.

Can fintech revolution preserve consumer protections?
It may seem like high-tech innovation has swept finance, but most of the advances are overlays on a banking system that remains fundamentally unchanged. 
Rate Report 
Credit Card Rate Report as of 7/6/16

National average 15.18% 
Low interest 11.98%
Business 13.12%
Student 13.42%
Balance Transfer 14.38%
Airline 15.08%
Cash Back 15.32%
Reward 15.29%
Instant approval 18.04%
Bad credit 22.56%
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