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Customers look at appliances for sale at a Best Buy store in Miami, Florida, Oct. 8, 2021. However, the machine broke for the same reason again a few months later, and then again shortly after that. After the mechanic's third visit, Rathner said he told her, "You need to stop calling me and just buy a new dryer. watch nowHomeowners spend about 34% more on appliances than they did 15 years ago, "above and beyond inflation," Tomalak said. "Homeowners are purchasing appliances with more bells and whistles, but which become obsolete sooner and have more aspects to repair versus appliances years ago," he said.

Persons: Joe Raedle, Sara Rathner didn't, Rathner, Todd Tomalak, Tomalak, Brian Laung Aoaeh, Aoaeh Organizations: Getty, Finance, Zonda Media, Refashiond Ventures Locations: Miami , Florida, Richmond , Virginia, New York

☆ The ‘dupe’ trend hit travel in 2023. It's a good way to save on your next trip, experts say
▼ + stars: | 2023-11-09 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

For example, flight searches more than doubled for several "dupe" destinations internationally, according to Expedia data. watch nowLikewise, flight searches to the island Curaçao, a stand-in for St. Martin, were up 228% in the U.S. and 185% worldwide. "TikTok popularized the idea of dupes … and the concept is increasingly taking off in the world of travel," Expedia said in a report published Wednesday. Internet search traffic in the U.S. for travel dupes spiked throughout 2023, peaking in July, according to Google Trends data. It's more than just the flight priceHowever, Hopper flight data indicates that not all dupes will necessarily pay off for travelers.

Persons: Klaus Vedfelt, Martin, TikTok, dupes …, Expedia, Hayley Berg, Hopper, Ho, Jon Gieselman, dupes, Sara Rathner Organizations: Digitalvision, Getty, Sydney, Expedia Brands, Auckland , New Zealand — Locations: Taipei, Seoul, U.S, Pattaya, Thailand, Bangkok, St, Perth, Australia, Liverpool, England, London, Hanoi, Vietnam, Ho Chi Minh City, Spain, Tenerife, Canary Islands, Barcelona, Phuket, Europe, Sydney, Nadi, Fiji, Auckland , New Zealand

☆ Shoppers have choices when it comes to payment plans. Here's how to pick between buy now, pay later and retail credit cards
▼ + stars: | 2023-10-26 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

Using financing deals from retail credit cards also allows you to take an item home immediately after purchase, but they operate differently than BNPL plans and serve different purposes. Buy now, pay later deals can buy you 'a little extra time'"If you need a little extra time to pay something off, then a 'buy now, pay later' loan can be a really appealing thing," said Schulz. In addition, retail credit card accounts — especially newly opened ones — often include "deferred" or zero interest promotions. How BNPL, retail cards can affect your creditHoliday debt can be very sticky for cardholders. Actually, sign-ups for retail credit cards consistently spike every year in the fourth quarter, specifically November and December, according to credit bureau company Equifax.

Persons: Matt Schulz, Schulz, That's, Sara Rathner, Rathner, NerdWallet Organizations: Finance, LendingTree, Retail

☆ Credit card users paid $130 billion in fees, interest in 2022, federal watchdog says
▼ + stars: | 2023-10-25 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

Proposed changes are meant to fill gaps in the Credit Card Accountability Responsibility and Disclosure Act of 2009, or CARD Act. The law imposed guardrails on credit card companies such as price controls on penalty fees and specific conditions in which they can be charged. However, there is no restriction on how much APR a company can charge nor language on late fees. How to minimize credit card fees, interestCardholders who carried a balance paid about 20% of their average statement balance in interest and fees last year, the CFPB found. WalletHub estimates that cardholders paid on average $76.27 in fees and interest per credit card account in the fourth quarter of 2022.

Persons: Biden, Schulz, it's, " Schulz, cardholders, Autopay, Matt Schulz, Sara Rathner Organizations: Consumers, Federal Trade Commission, Istock, Getty

☆ These credit cards have had 'increasingly notable' high rates, analyst says. What to know before you shop
▼ + stars: | 2023-10-23 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

"We've seen all types of credit card rates go up in recent years, but store cards have been increasingly notable," said Ted Rossman, senior industry analyst at Bankrate. "It's becoming way more common for many credit cards to have that as a possible standard rate," Schulz told CNBC in a previous interview. watch nowYet, about 74% of 2023 holiday shoppers still plan on using credit cards to buy gifts this year, NerdWallet found. 'These 0% promos are very dangerous'Retail credit cards will oftentimes offer a 0% interest promotion described as "deferred interest." Sara Rathner credit cards expert and writer at NerdWallet.

Persons: We've, Ted Rossman, Matt Schulz, Schulz, Sara Rathner, NerdWallet, Bankrate's Rossman, Rathner Organizations: Bankrate, Finance, CNBC Locations: NerdWallet

☆ Credit card users paid nearly $164 billion in fees, interest in 2022. It may 'get a little worse,' analyst warns
▼ + stars: | 2023-10-19 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

Some credit card companies charge as much as $41 for a missed payment. Proposed changes are meant to fill gaps in the Credit Card Accountability Responsibility and Disclosure Act of 2009, or CARD Act. The law imposed guardrails on credit card companies, like price controls on penalty fees and specific conditions in which they can be charged. However, there is no restriction on how much APR a company can charge nor language on late fees. How to minimize credit card fees, interestCardholders paid on average $76.27 in fees and interest per credit card account in the fourth quarter of 2022, WalletHub found.

Persons: Oscar Wong, Biden, Schulz, Cardholders, WalletHub, it's, cardholders, Autopay, Matt Schulz, Sara Rathner Organizations: Federal Trade Commission

☆ Here are 3 ways to avoid paying more than what you actually owe on your credit cards
▼ + stars: | 2023-10-11 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Given record-high interest rates, now is not the time to be taking on more credit card debt. The Federal Reserve is expected to further hike interest rates before the end of the year, and the average credit card interest rate is already at an all-time high. Automated payment options can help credit card holders bypass late payment fees. "You can set it up for a lower payment," said Sara Rathner, credit cards expert and writer at NerdWallet, referring to a monthly automated card payment. "There's no penalty charge on your card if you pay your statement balance before the due date," Ewen added.

Persons: Sara Rathner, Nick Ewen, Guy, Ewen Organizations: Federal, Finance

Avail yourself of balance transfer cardsCards offering 15, 18 and even 21 months with no interest on transferred balances "can be your best friend on the path to getting out of credit card debt," McBride said. watch nowMaking the best use of a balance transfer boils down to making those payments on time and aggressively paying down the balance during the introductory period. Most cards have a one-time balance transfer fee, usually around 3% to 5% of the tab. "The interest rate will depend on your credit, but it may be worth it if the cost of interest and fees are significantly lower than what you're currently paying on your credit cards," Rathner said. Currently, those rates are around 10%, on average, still well below what you may have on your credit card.

Consumers are racking up credit card debt at a pace not seen in decades as inflation continues to pervade the U.S. economy. And while analysts say many U.S. consumers remain in good financial shape thanks mostly to low unemployment, the debt situation is growing dire. As the Federal Reserve has continued to lift interest rates to counter sky-high inflation, credit card rates have climbed to the highest levels ever measured. At just 2.1%, credit card delinquency rates remain below pre-pandemic levels. Still, said Raneri of TransUnion, as long as credit card companies are willing to continue to extend credit, credit scores will mostly remain unaffected.

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