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☆ What the Fed’s interest rate cuts mean for your money
▼ + stars: | 2024-11-08 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

But that doesn’t mean as a result interest rates are now low — or will soon be low. “‘Falling interest rates’ are not the same as ‘low interest rates.’ Interest rates are high and will only decline to ‘not as high’ as … we move into 2025,” said Greg McBride, chief financial analyst at Bankrate. Credit cards: Just before the Fed cut its key rate in September, the average credit card rate was 20.78%, according to Bankrate. Another option: Try transferring your balance to a credit card from a credit union or local bank. Before the Fed’s September rate cut many of those accounts were offering yields between 4.25% and 5.3%, according to those listed on Bankrate.com.

Persons: ”, Greg McBride, Matt Schulz, Chris Diodato, they’re, Freddie Mac, Sam Khater, Freddie Mac’s, ” McBride, Sinead Colton Grant, Colton Grant, “, Don’t, Diodato, you’re, BNY, they’ve Organizations: CNN, Reserve, Bankrate, Fed, LendingTree, Treasury, Savings Locations: Treasuries

In the final weeks of the campaign, Trump kept supporters at a Michigan rally waiting for hours after he detoured to Texas to record Rogan’s show. And then many of them suddenly found themselves running Harris’ campaign. “This has been an historic partnership in which these teams have worked together extraordinarily well,” said a White House official who has been there from the beginning. “Not enough people understand the importance of that,” a Trump campaign official said of the Kennedy nod. It was the first energizing move that the campaign had since the switch-out.”A Democrat close to the Harris campaign said: “Brat summer had to end.

Persons: Barron Trump, Alex Bruesewitz, Trump, ”, Andrew Schulz, Theo Von, Mark Calaway, Joe Rogan, detoured, Harris, —, Rogan, Harris ’, I’d, Ro Khanna, Biden, “, Jesse Ferguson, Jen O’Malley Dillon, Obama, David Plouffe, Stephanie Cutter, Mark Cuban, Liz Cheney, Joe Biden’s, ‘ He’s, Ezra Levin, Trump’s, Robert Hur, indignantly, “ Nobody, ” Harris, Shuran Huang, Sen, JD Vance, Ohio, ’ ”, Joe Biden, “ Joe Biden, ” Biden, ’, Robert F, Kennedy Jr, jolt Trump, Tulsi Gabbard, Elon Musk, Kennedy, Biden’s, Word Organizations: Harris, Democratic, Trump Republicans, Trump, “ Staff, Democrat, Biden, DNC, White, Howard University, NBC News Biden, White House, RFK, McDonalds Locations: Michigan, Texas, —, Pennsylvania, ”

☆ The Federal Reserve cuts interest rates by a quarter point after election. Here's what that means for you
▼ + stars: | 2024-11-07 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

Mortgage ratesHousing affordability has been a major issue due in part to a sharp rise in mortgage rates since the pandemic. Trump has said he'll bring down mortgage rates — even though 15- and 30-year mortgage rates are fixed, and tied to Treasury yields and the economy. Mortgage rates are unlikely to fall significantly, given the current climate, explained Jacob Channel, senior economist at LendingTree. Federal student loan rates are fixed, so most borrowers won't be immediately affected. But refinancing a federal loan into a private student loan will forgo the safety nets that come with federal loans, such as deferments, forbearances, income-driven repayment and loan forgiveness and discharge options.

Persons: Joshua Roberts, Matt Schulz, Trump, Jessica Caldwell, Edmunds, Trump's, Caldwell, Michele Raneri, Jacob Channel, Mark Kantrowitz Organizations: Federal, Reuters, Auto, Fed, Treasury, TransUnion, Mortgage, Association . Locations: Washington ,, Edmunds, U.S

Trump’s campaign had received an offer to join the show, according to sources close to the former president, but ultimately decided to pass. The latest ABC News/Ipsos national poll showed Trump trailing Harris among likely female voters by 14-points – a margin that far outpaces his 6-point lead among men. These events will continue through the weekend with popular female Trump supporters, including Arkansas Gov. Trump has also relied on other White men to help reach female voters. An opportunity for HarrisAn appearance on “Call Her Daddy” might not have resolved Trump’s longstanding challenge with female voters.

Persons: Alex Cooper, “, ”, Kamala Harris, Donald Trump, ” Cooper, Trump, –, “ We’ve, ’ ”, ” Trump, Harris, Robert F, Kennedy Jr, don’t, Charlie Kirk, Kamala, Karoline Leavitt, ” Leavitt, Alex Wroblewski, Sarah Huckabee Sanders, Danica Patrick, – Trump, Mark Cuban, ABC’s, Susie Wiles, Kennedy, Roe, Wade, Ohio Sen, JD Vance, Cooper, Theo Vonn, Andrew Schulz, Mark Calaway, Logan Paul, LIV, Bryson DeChambeau, Will Compton, Taylor Lewan, Joe Rogan, Rogan’s, Rogan, hasn’t, Nikki Haley, Haley, recommitted, they’ve, ” Haley, Elizabeth Wagmeister, Ethan Cohen, Matt Holt, Molly English Organizations: CNN, Republican, White, Trump, GOP, ABC, ”, Getty, Democratic, Arkansas Gov, Fox News, Pew Research Center, Boys, YouTube, NFL, Rogan’s Austin, South Carolina Gov, Madison, New Locations: Green Bay , Wisconsin, Reno , Nevada, North Carolina, Democratic, AFP, Florida, bro, New York

☆ FICO and VantageScore are the 'Coke and Pepsi' of credit scoring, says credit expert—what to know about each
▼ + stars: | 2024-10-31 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

When you view your credit score, you're likely to see a different three-digit number depending on whether you checked your score online, on your banking app or via another means. Although you have multiple credit scores, they're mainly calculated by two companies: VantageScore and FICO, which are the two main credit scoring systems used by the majority of lenders to evaluate how well you're managing your credit. "Think of those like Coke and Pepsi," John Ulzheimer, a credit expert who formerly worked for FICO and Experian, tells CNBC Make it. And your credit history needs to be at least six months long in order for FICO to generate your score. Although FICO scores are also used by lenders when you apply for credit, a mortgage or an auto loan, FICO weighs the factors it uses to calculate its credit scores differently.

Persons: John Ulzheimer, VantageScore, FICO, Matt Schulz, LendingTree's, Schulz Organizations: Pepsi, FICO, CNBC Locations: U.S

Some comics online did not specifically call out Hinchcliffe’s jokes at the rally but shared broader thoughts about comedians’ crossing the line. On an August episode of “The Joe Rogan Experience,” Rogan said Trump should hire Hinchcliffe to “write bangers” for him on the road. But Hinchcliffe’s joke about Puerto Rico landed poorly across both political parties. While most comedians did not come to Hinchcliffe’s defense, “The Daily Show” host Jon Stewart said such jokes should have been expected from a comedian like Hinchcliffe. But with Hinchcliffe’s joke, she said, “it almost just felt like he was saying, ‘I don’t like Puerto Ricans,’ which is so clearly offensive.

Persons: Tony Hinchcliffe’s, ”, Donald Trump’s, ” Hinchcliffe, “, Hinchcliffe, Jerry Seinfeld, Jay Black, you’re, Black, ’, Anthony Jeselnik, Jeselnik, Marc Maron, supremacists, ” Maron, Trump, Joe Rogan, Andrew Schulz, Theo Von, podcasters . Rogan, Rogan, ” Rogan, Danielle Alvarez, María Elvira Salazar, Sen, Rick Scott, Carlos Gimenez, Anthony D’Esposito, Jon Stewart, ” Stewart, Ginny Hogan, ” Hogan, ‘, Jake Flores, ’ ” Flores, it’s “, Tony Organizations: Madison, Trump, ” Locations: Puerto Rico, New York City, Puerto Ricans

Former President Donald Trump will sit with Joe Rogan for a taping of his podcast in Austin, Texas, on Friday, according to two sources familiar with the planning. "The Joe Rogan Experience" has reigned for years as one of the most popular podcasts in all of media, particularly among young men, who have been key targets of the Trump campaign. "The Joe Rogan Experience" has received criticism over the years after Rogan spread misinformation about Covid, used racial slurs and made antisemitic comments. In February, Rogan and Spotify inked a multi-year deal that would allow the podcast host to bring "The Joe Rogan Experience" to other audio platforms. According to Spotify, it is currently the platform's popular podcast.

Persons: Donald Trump, Joe Rogan, Trump, Kamala Harris, Ben Shapiro, Adin Ross, Theo Vonn, Andrew Schulz's, Akaash Singh, Rogan, Sen, Bernie Sanders, Trump's, Robert F, Kennedy Jr, I’m Organizations: Spotify Locations: Austin , Texas, Texas, Houston , Texas

☆ 5 lifestyle habits that can help you live to 100, according to leading longevity researchers
▼ + stars: | 2024-10-15 | by ( Renée Onque | ) www.cnbc.com time to read: +6 min

For nearly two years, I've been reporting on longevity and the lifestyle choices that seem to help people live longer. There is steady interest — from everyday people to researchers alike — in what it takes to live a long, healthy life. In blue zones, the physical activity is a lot less vigorous, but centenarians still move daily, Buettner said in his Netflix documentary, "Live to 100: Secrets of the Blue Zones." 1 thing that can help you live a longer, happier life, according to an 86-year Harvard study that's still ongoing. "Having the right friends, that is the biggest secret to help these people in Blue Zones do the right things and avoid the wrong things."

Persons: I've, Valter Longo who's, Longo, Dan Buettner, centenarians, Buettner, Dan Harris, Arthur C, Brooks, it's, Marc Schulz, Dr, Robert Waldinger, Ikigai, George E . Vaillant Organizations: CNBC, Netflix, Harvard, Development, Harvard Gazette Locations: England, Okinawa, Japan

Snoopy Weekly, a now-deleted popular X account unaffiliated with the Peanuts comic, garnered backlash for a post that endorsed former President Donald Trump for the 2024 election. "Snoopy hates you btw," one fan of the cartoon wrote in response to the Snoopy Weekly endorsement, sharing a screenshot of the now- removed post. NBC News could not reach the people behind Snoopy Weekly or Dailysnoopys for comment. The Snoopy Weekly account appears to have been deleted as of Monday evening. Other Snoopy fan accounts, like badsnoopy__, have also showcased some political leanings in their posts.

Persons: Donald Trump, Charlie Brown's, he's, Gen Zers, Snoopy, Snoopyweekly, Snoopy Weekly's, Charles M, Schulz, Blake Scott Ball's, Charlie Brown’s, Ball, “ Schulz, Schultz, Mortie Turner, Billie Jean King, Franklin, Peppermint Patty, Charles Schulz, Peanuts.com Organizations: Snoopy, Hamas, NBC, Snoopy Weekly, Peanuts Worldwide, Peanuts Locations: Israel, Arizona, Georgia, Charlie Brown’s America, Oakland

Former President Barack Obama will campaign for Vice President Kamala Harris in Pittsburgh next week, his first foray into the election as a battleground-state surrogate. The event, according to a senior Harris campaign official, will launch a larger effort by Obama, who intends to ramp up his campaigning for Harris in the final stretch of the election cycle. “President Obama believes the stakes of this election could not be more consequential and that is why he is doing everything he can to help elect Vice President Harris, Governor Walz and Democrats across the country,” Eric Schulz, a senior adviser to Obama, said in a statement. Harris and Obama’s relationship spans two decades, with the two first meeting as Obama was seeking election to the Senate in 2004. Grassroots fundraising content signed by Obama and events featuring him have generated more than $76 million for the campaign this cycle, a second senior Harris campaign official said.

Persons: Barack Obama, Kamala Harris, Harris, Obama, Governor Walz, ” Eric Schulz, Barack, Michelle Obama, we’ve, Tim Walz, ”, “ Michelle Obama, y’all —, ” Michelle Obama Organizations: Senate, ”, Democratic National Convention, NBC News, Grassroots, Obama Locations: Pittsburgh, “, United States, Angeles

☆ You could retire with $1 million even if you don't start saving until your 30s: How much money you need to set aside per month
▼ + stars: | 2024-10-01 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

A sizeable number of Americans hope to retire as millionaires, according to Bankrate's latest savings survey. A little over a third of American workers say they'll need $1 million or more to retire in comfort, per Bankrate's survey. The median amount they think they'll need saved up is about $875,000. And millennials are the most likely of each generational cohort to think they'll need to save up at least $1 million to retire comfortably. With that in mind, CNBC calculated how much you would need to save each month in order to retire with $1 million at 65, starting at ages 25, 30, 35 and 40.

Persons: Matt Schulz Organizations: CNBC

☆ France’s Marine Le Pen and her party go on trial accused of embezzling EU funds
▼ + stars: | 2024-09-30 | by ( Story Associated Press | ) edition.cnn.com time to read: +7 min

Le Pen, whose party has softened its anti-EU stance in recent years, denies wrongdoing and claims the case is politically driven. Le Pen was runner-up to Macron in the 2017 and 2022 presidential elections. This figure corresponds to the 3.7 million euros allegedly defrauded through the scheme, minus the 1 million euros already paid back. At the time, the party was also indebted to a Russian bank for 9.4 million euros, a loan taken out in 2014 for 6 million euros. That was decided by Marine Le Pen and others.

Persons: Marine Le Pen, Le Pen, ”, Le Pen’s, Emmanuel Macron, Pen, Le, Patrick Maisonneuve, Martin Schulz, Schulz, Alexandre Varault, Alain Jocard, Pen’s, Thierry Légier, Jean, Marie, Légier, Marie Le Pen, “ Organizations: Paris AP, National Rally, centrists, French National Assembly, National, Associated Press, Getty, National Front, Socialists Locations: Paris, France, AFP, Russian

☆ Americans are drowning in credit card debt. Trump’s proposed cap on interest rates probably won’t help
▼ + stars: | 2024-09-24 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

At $1.14 trillion, Americans’ credit card debt is at a record high, according to data from the Federal Reserve Bank of New York. “While working Americans catch up, we’re going to put a temporary cap on credit card interest rates,” Trump said at a rally last week. You may not be able to count on your credit card for purchasesThe average American has racked up $6,500 in credit card debt, according to Experian data from the third quarter of last year. The reason: Interest rates are how credit card companies manage the risk that a customer won’t pay their credit card bill on time. Your favorite credit card rewards could be jeopardizedEven if you don’t currently have any credit card debt and have a top-tier credit score, you could be left worse off from a 10% credit card fee cap.

Persons: New York CNN —, Donald Trump’s, ” Trump, Republican Sen, Josh Hawley, Sen, Bernie Sanders, Alexandria Ocasio, Matt Schulz, “, Schulz, Karoline Leavitt, ” Leavitt, Banks, Joe Biden’s, ” Schulz, ” Organizations: New, New York CNN, Federal Reserve Bank of New, Republican, CNN, Trump Locations: New York, Federal Reserve Bank of New York, Congress, Alexandria, Cortez

☆ Mark Cuban mocks Trump for going even further than Bernie Sanders on capping credit card interest rates
▼ + stars: | 2024-09-24 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

Read previewBillionaire investor Mark Cuban on Tuesday teed off on Donald Trump's proposal to cap credit card interest rates at 10% and the former president's broader economic agenda. is the 10% price cap on credit card interest rates," Cuban said during a press call hosted by Vice President Kamala Harris' campaign. AdvertisementDuring a rally last week in New York, Trump floated the idea of temporarily capping credit card interest rates at "around 10%." AdvertisementExperts have said credit card companies would likely respond to an interest cap by making it harder for some people to access credit. The interest rates Americans pay on that debt are also higher now than they were before the COVID-19 pandemic.

Persons: —, Mark Cuban, Donald Trump's, Kamala Harris, Harris, I've, it's, Donald Trump, Trump, Sen, Bernie Sanders, Alexandria Ocasio, Cortez, Donald, Steven Cheung, Josh Hawley, Messrs, Sanders, Matt Schulz, Karoline Leavitt Organizations: Service, Business, Cuban, Rep, Trump, Republican, CNN, Financial, New York Federal Reserve Locations: Savannah , Georgia, New York, Alexandria, Cortez of New York, Cuban, Josh Hawley of Missouri

☆ Why Japan's workaholics may not embrace a four-day workweek
▼ + stars: | 2024-09-23 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

Bloomberg | Bloomberg | Getty ImagesJapan has ramped up its push for companies to adopt a four-day workweek, but those efforts face steep challenges in a country famous for its workaholic culture. The Japanese government recently initiated a "work style reform" campaign aimed at promoting flexible work arrangements, shorter hours and overtime limits. The move marks a more concerted effort after the government first floated support for a shorter workweek in 2021 when lawmakers endorsed the idea. "Being part of a company is almost part of a community, and this results often in longer work hours, not as efficient work hours," he told CNBC. I think that it's going to take time [for the four-day workweek] to penetrate… we're not used to being flexible.

Persons: Tim Craig, Craig, it's, Martin Schulz, karoshi, Hiroshi Ono Organizations: Bloomberg, Getty, Japan, Ministry of Health, Labor, Welfare, Fujitsu, CNBC, Hitotsubashi University Locations: Japan

☆ How to find great returns on cash after the Fed cut: Rates won't 'go from awesome to awful overnight,' expert says
▼ + stars: | 2024-09-23 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

And it still is, despite the Federal Reserve's recent 50 basis point rate cut, which will push record returns on cash lower. "Those rates aren't going to go from awesome to awful overnight," said Matt Schulz, chief credit analyst at LendingTree. "There's no need to panic if you haven't moved your money into a high-yield savings account yet or you haven't locked in a CD rate." "The biggest mistake that people can make … is the failure to save," said Mark Hamrick, senior economic analyst at Bankrate. "The urgency of saving is not made any less in an environment where rates are coming down," he added.

Persons: Matt Schulz, haven't, Mark Hamrick Organizations: Federal, Finance

☆ From mortgages to auto loans, experts weigh in on when — or if — to refinance as interest rates fall
▼ + stars: | 2024-09-19 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

So, home loan rates may continue to fluctuate. Don't wait to reassess credit card debtWhen it comes to credit card debt, the math is a little more cut-and-dried. In the wake of the rate hike cycle, the average credit card rate rose from 16.34% in March 2022 to more than 20% today — nearing an all-time high. watch nowAlternatively, borrowers can call their card issuer and ask for a lower interest rate on their current card. Auto loan refinancing options depend on equityAlthough auto loans are fixed, the rates on new-car loans will come down with the Fed's moves.

Persons: Jacob Channel, Matt Schulz, Schulz, you've, Ivan Drury, Edmunds Organizations: Treasury, LendingTree, Auto

☆ Unlikely to see large-scale repatriation of assets back into Japan after Fed's rate cut: Economist
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUnlikely to see large-scale repatriation of assets back into Japan after Fed's rate cut: EconomistDavid Roche of Quantum Strategy and Martin Schulz of Fujitsu discuss the effect of Fed rate cuts and repatriation from funds back to Japan.

Persons: David Roche, Martin Schulz Organizations: Quantum, Fujitsu Locations: Japan

☆ BOJ unlikely to raise rates this year amid leadership change and cooling economy, economist says
▼ + stars: | 2024-09-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBOJ unlikely to raise rates this year amid leadership change and cooling economy, economist saysWith Japan's upcoming party leadership election on Sept. 27 and its cooling economy, "moving in that environment is tricky" for the Bank of Japan, said Martin Schulz, chief policy economist at Fujitsu.

Persons: Martin Schulz Organizations: Bank of Japan, Fujitsu

☆ Don't expect 'immediate relief' from the Federal Reserve's first rate cut in years, economist says. Here's why
▼ + stars: | 2024-09-13 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

The federal funds rate, which the U.S. central bank sets, is the rate at which banks borrow and lend to one another overnight. Home loan rates have already started to fall, largely due to the prospect of a Fed-induced economic slowdown. Student loansFederal student loan rates are also fixed, so most borrowers won't be immediately affected by a rate cut. Eventually, borrowers with existing variable-rate private student loans may also be able to refinance into a less expensive fixed-rate loan, according to higher education expert Mark Kantrowitz. However, refinancing a federal loan into a private student loan will forgo the safety nets that come with federal loans, he said, "such as deferments, forbearances, income-driven repayment and loan forgiveness and discharge options."

Persons: that's, McBride, Jacob Channel, it's, Matt Schulz, Bankrate's McBride, Mark Kantrowitz Organizations: Treasury, Mortgage, Association, Auto, Consumers Locations: U.S

“For over a century, the Pac-12 Conference has been recognized as a leading brand in intercollegiate athletics,” Pac-12 Commissioner Teresa Gould said in a statement. I am thankful to our board for their efforts to welcome Boise State University, Colorado State University, California State University, Fresno, and San Diego State University to the conference. An exciting new era for the Pac-12 Conference begins today.”While Pac-12 will survive in name, it's highly unlikely it’ll have the same stature or immediate moneymaking potential of the Big Ten, Southeastern Conference, Atlantic Coast Conference and Big 12. “Today’s news is a great start to stabilizing the future of the Pac‑12 Conference and Washington State University,” Washington State President Kirk Schulz and Athletic Director Anne McCoy said in a joint statement. Washington and Oregon joined the Big Ten as well, with Arizona, Arizona State, Utah and Colorado leaving for the Irving, Texas-based Big 12.

Persons: that’s, ”, Teresa Gould, Kirk Schulz, Anne McCoy Organizations: Conference, Washington, Oregon State, “ Conference of, Boise State, Fresno State, San, NCAA, Boise State University , Colorado State University , California State University, San Diego State University, Southeastern Conference, Atlantic Coast Conference, Washington State University, ” Washington, Athletic, USC, UCLA, Big, Los Angeles, Irving, Stanford, Cal Locations: Washington State, San Francisco, San Ramon , California, Colorado State, Fresno, San Diego State, Corvallis , Oregon, Pullman, Washington, Oregon, Rosemont , Illinois, Midwest, Washington and Oregon, Arizona, Arizona State , Utah, Colorado, Irving , Texas, Charlotte , North Carolina

☆ Melinda French Gates' weekly walks with 3 close friends help her make difficult decisions: 'They are my truth counsel'
▼ + stars: | 2024-08-02 | by ( Alex Koller | ) www.cnbc.com time to read: +3 min

Whenever billionaire philanthropist Melinda French Gates contemplates a tough decision, she seeks input from her three closest friends of more than 30 years. "If you're in town, you walk," French Gates said. For example, the trio of friends was the first to know when French Gates began to consider ending her marriage to Bill Gates after 27 years, she said — and they offered her unanimous support. French Gates learned the importance of quality over quantity in friendships early in life, she said. "You might realize that you have plenty of people you have fun with, but no one to confide in," Schulz and Waldinger wrote.

Persons: Melinda French Gates, Oprah Winfrey, Gayle King, Gates, French Gates, Bill Gates, —, There's, Marc Schulz, Robert Waldinger, Schulz, Waldinger, " Schulz, It's Organizations: Research, Harvard University, CNBC Locations: French

☆ The Federal Reserve sets the stage for a rate cut — here's what that means for your money
▼ + stars: | 2024-07-31 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

In the wake of the rate hike cycle, the average credit card rate rose from 16.34% in March 2022 to more than 20% today — nearing an all-time high. A recent report from the Philadelphia Federal Reserve showed credit card delinquencies at an all-time high, according to data going back to 2012. The best move for those with credit card debt is to take matters into their own hands, advised Matt Schulz, chief credit analyst at LendingTree. Home loan rates have already started to fall, largely due to the prospect of a Fed-induced economic slowdown. Student loansFederal student loan rates are also fixed, so most borrowers aren't immediately affected by the Fed's moves.

Persons: Greg McBride, McBride, Matt Schulz, Jacob Channel Organizations: Philadelphia Federal, Treasury, Auto, Consumers

☆ Credit Card Rewards Are Making Us Jerks, Causing Fights Among Friends
▼ + stars: | 2024-07-25 | by ( Emily Stewart | ) www.businessinsider.com time to read: +15 min

He's not doing all this out of the kindness of his heart; he's doing it because he wants the credit-card rewards. In a recent poll from Ipsos, 71% of Americans surveyed said they had some sort of rewards, points, or cash-back card, and 80% of those with such a card said they valued their rewards. But maybe we love our credit-card rewards too much, to the point that it's making us act in less-than-ideal ways toward those we hold near and dear. But credit-card rewards are, indeed, making things uncomfortable. I recently booked a fight with a friend who remarked she'd gotten some $300 in travel credit from her rewards card.

Persons: Pam, she's, It's, He's, Jane, Joe, there's, Mary fuming, Matt Schulz, Taylor Swift, I'm, Jen, who's, She'd, nonpoints, Emily Thompson, Guy, they'd, Ted Rossman, —, Danielle Bayard Jackson, she'd, Thompson, I'd, Matt, " Schulz, LendingTree, they've, Emily Stewart Organizations: brunch, LendingTree, American, Business Locations: San Francisco, Ipsos, Singapore, Chicago, Alaska, Florida

"Consumers need to understand that the cavalry isn't coming anytime soon, so the best thing you can do is take things into your own hands when it comes to lowering credit card interest rates," said Matt Schulz, chief credit analyst at LendingTree. But that hasn't deterred credit card issuers from offering generous terms on balance transfer cards, Rossman said. But right now, it's kind of a Goldilocks environment for credit card issuers." It's also an ideal time for consumers to take advantage of all the options credit card issuers are offering. A balance transfer credit card moves your outstanding debt from one or more credit cards onto a new card, typically with a lower interest rate.

Persons: Matt Schulz, Michele Raneri, APRs aren't, Schulz, Ted Rossman, Rossman, It's Organizations: Federal Reserve, TransUnion, CNBC, Finance, Treasury Department, Federal Reserve Bank of New Locations: U.S, Federal Reserve Bank of New York

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