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☆ Teslas are finally getting cheaper. It's a sign Elon Musk's back is against the wall.
▼ + stars: | 2023-01-16 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Tesla cutting prices by up to 20% on its models in a sign of trouble for Elon Musk. Interest rate hikes have also increased the costs of financing the purchase of a Tesla, making it harder for consumers already battered by inflation to make the switch. Moores added that when it comes to demand, "backlog orders have come down significantly for Tesla," making price cuts is "a good way to increase the immediate- and medium-term sales pipeline". Price cuts will of course be welcomed by consumers. Wedbush's Ives estimates that "all together these price cuts could spur demand" by 12-15% globally in 2023.

☆ JPMorgan's acquisition strategy is coming under fire. Here are the 15 fintech and consumer-focused deals done by the bank since 2020.
▼ + stars: | 2023-01-13 | by ( Carter Johnson | Rebecca Ungarino | ) www.businessinsider.com time to read: +19 min

NutmegDeal details: JPMorgan announced the acquisition in June 2021, paying approximately $1 billion. cxLoyaltyDeal details: JPMorgan said it would buy cxLoyalty's global loyalty division in December 2020. ProxymityDeal details: JPMorgan, Citi, HSBC, and other firms together invested $20.5 million in Proxymity in May 2020. Viva WalletDeal details: JPMorgan said it would acquire 49% of Viva Wallet in January 2022, pending regulatory approval. Christian Petersen-Clausen/Getty ImagesRenovite TechnologiesDeal details: JPMorgan announced on September 12 it plans to acquire Renovite.

☆ Save, don't spend, warns Intuit's CEO, as he notices 'good behavior' around money habits eroding
▼ + stars: | 2023-01-10 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +4 min

That's partially due to inflation woes, but spending on travel and recreation still remains high. That's largely due to an unprecedented boon in cash from stimulus checks and other pandemic aid along with reduced spending amid the pandemic. Inflation has been eating into Americans' wallets for the last two years, but it's not the only reason savings are falling. Spending has remained strong overall, especially for in-person services that were especially constrained during the worst of the pandemic, said Goodarzi. Credit bureau Experian defines a score of 580 to 669 as "fair," and most Americans fall somewhere between 600 and 750.

☆ More than two-thirds of Americans’ financial situation did not improve or stayed the same in 2022 — here's how to better your finances in 2023
▼ + stars: | 2023-01-09 | by ( Jasmin Suknanan | Jason Stauffer | Benji Stawski | ) www.cnbc.com time to read: +12 min

With a higher credit score, you can qualify for better interest rates on your credit card, mortgage, or loan, better loan terms and sometimes even higher funding amounts. One of the most important ways to increase your credit score is to continue making on-time payments on any existing debt. So if you've spent $5,000 on a credit card with a credit limit of $10,000, your credit utilization rate is 50%. Keep in mind that it can take some time to see drastic improvements in your credit score, however, every little score bump helps. Another way to put a little extra money in your pocket is by using a cash-back or rewards credit card.

☆ Here are some strategies that can help you dig out of holiday debt
▼ + stars: | 2023-01-04 | by ( Sharon Epperson | In Sharoneppersoncnbc | ) www.cnbc.com time to read: +5 min

A new LendingTree study found 35% of Americans amassed holiday debt in 2022. And 37% of those taking on holiday debt said it would take them at least five months to pay it off. If you want to pay off your holiday debt well before this summer, here are seven steps you need to take now. Using less than 30% of your available credit can help you maintain your score, credit experts say, while using less than 10% can actually help raise that number. "A 0% balance transfer card, if you have good enough credit to get one, is the best weapon against credit card debt," said Matt Schulz, chief credit analyst at LendingTree.

The minimum credit score that you'll need to buy a house varies by lender and loan type. What credit score is needed to buy a house? Minimum credit score: No minimum, but with a credit score of at least 640 you could qualify for streamlined credit analysisIt's important to point out lenders are free to set higher minimum credit score requirements than what the loan-backing organizations require. When it comes to your credit score, your bank or credit card issuer may provide your score for free. If not, you can also use a free credit score monitoring tool like Credit Karma or Credit Sesame.

☆ How to live a car-free life in 2023, from 3 people who tried it to save money and the environment
▼ + stars: | 2023-01-02 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +2 min

It's an expensive time to buy a car, thanks to inflation and high interest rates. Insider previously spoke with three people who have explored car-free lifestyles. Some looking to save money and reduce their environmental footprints may decide to join those embracing car-free — or "car-lite" — lifestyles. In October, the estimated typical monthly car payment for new vehicle purchases rose to a record-high $748 per month, per Cox Automotive. Insider previously spoke with three people who have explored car-free lives over the past year.

While these events are out of our control, there are still steps you can take in 2023 to feel a little more confident and prepared with our finances. Annual Percentage Yield (APY) Earn up to 4.11% APYMinimum balance NoneMonthly fee NoneMaximum transactions NoneExcessive transactions fee NoneOverdraft fees N/AOffer checking account? Check your credit scoreChecking your credit score can be especially important if you plan on applying for a mortgage, loan, apartment or a new credit card later in the year. Experian Boost® Learn More On Experian's secure site Cost FreeAverage credit score increase 13 points, though results varyCredit report affected Experian®Credit scoring model used FICO® Score Results will vary. Bottom lineWhile 2022 was a financially tumultuous year with many twists and turns, there are steps every individual can take to walk into 2023 feeling a little more prepared.

☆ Consumers are getting payments from Equifax data breach settlement. Here’s what to expect if you filed a claim
▼ + stars: | 2022-12-28 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +2 min

As a result, consumers who were affected by the breach had the option of signing up for either up to $125 or free credit monitoring at all three of the largest credit reporting firms: Equifax, Experian and TransUnion . On Twitter, users have reported receiving small payments, with amounts ranging from $2.64 or $5.21 to $21.06 and $40.44. Additionally, although the initial deadline to file a claim was Jan. 22, 2020, consumers are still permitted to file a claim for expenses incurred after that date but before Jan. 22, 2024, due to the data breach. The best way is to "freeze" your credit report, Ulzheimer said. Freezing your report essentially blocks a lender from checking your report, which means a fraudster would be unable to open an account using your personal data.

What credit scores don't captureLenders have always needed a way to determine a borrower's creditworthiness, and credit scores were a faster, easier way to do so. "If you look at credit scores from the perspective of other social actors, like policymakers or consumer advocates, why someone does or does not repay might start to have more bearing on how you make sense of credit scores," says Kiviat. The credit scoring system can also reflect and even worsen existing racial and wealth inequality. However, the credit scoring and reporting systems can function imperfectly, leaving many of the most marginalized without credit scores or with poor credit scores. Furthermore, policymakers have been considering how to make it easier for people to access their credit scores and resolve mistakes on their credit reports.

☆ Don't let these 3 credit myths cost you money next year as interest rates rise
▼ + stars: | 2022-12-24 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Generally speaking, the higher your credit score, the better off you are when it comes to getting a loan. As interest rates rise at the steepest annual pace ever, there is even more at stake in the year ahead. Here are some of the most common myths about credit cards and credit scores and how to avoid them going forward. Most utility companies do not report payment histories to credit bureaus and, even if they did, not all credit scoring companies consider that type of bill payment information. Myth #3: Carrying a small balance helps your scoreLumina Images | Getty Images

☆ For this company, decorating Park Avenue for Christmas is a family tradition
▼ + stars: | 2022-12-18 | by ( Molly Kaiser | ) www.cnbc.com time to read: +4 min

The business has maintained the avenue's grassy medians – known as the Park Avenue Malls – for 50 years. Christmas tress installed by City-Scape Landscaping on Park Avenue in New York. "I don't think Park Avenue would have quite the same glamour if the median walls weren't in place," said Vincent Sofield's son, Dylan. "It's people's front yard, front gardens along Park Avenue," said the group's president, Barbara McLaughlin. Christmas tress installed by City-Scape Landscaping on Park Avenue in New York.

☆ Car repossessions are on the rise in warning sign for the economy
▼ + stars: | 2022-12-17 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Shannon-Pettypiece-Circle-Byline-Template.Jpg | Shannon Pettypiece | ) www.nbcnews.com time to read: +8 min

WASHINGTON — A growing number of consumers are falling behind on their car payments, a trend financial analysts fear will continue, in a sign of the strain soaring car prices and prolonged inflation are having on household budgets. The percentage of auto loans that were 30 days delinquent was at 2.2% in the third quarter compared with 2.35% delinquent over the same period in 2019, according to data from Experian. By contrast, just over 4% of auto loans went into default in 2009. Another risk to car buyers’ finances is the growing length of auto loans, many of which now exceed seven years. It can also mean higher interest costs over the life of the loan on top of already inflated vehicle prices.

Aura provides comprehensive credit monitoring and additional identity protection services for individuals, couples, and families. Editor's Rating 4.6 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.6 out of 5 Stars Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. In addition to credit monitoring and other financial account monitoring, Aura also offers several safety tools including a VPN service and ad blockers. Credit monitoring is the process of keeping tabs on changes to your credit report, which influence fluctuations in your credit score. The basic function of credit monitoring services, like Aura, is to notify you when there are any changes in your credit report, such as a new line of credit.

☆ Nearly 25% of U.S. homebuyers want to move — this state is the top destination
▼ + stars: | 2022-12-10 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

Nearly 25% of the property search queries on online real estate brokerage Redfin.com are for cities where the person doesn't live, according to the company's most recent data. Out of 100 metro areas examined during the three months ended in October, the following 10 cities had the highest net inflow of property searches on Redfin's website. Net inflow is the number of people looking to move into a city minus the number of people looking to leave. To measure the share of homebuyers looking to relocate from one metro to another, a person browsing Redfin for properties in another city counts as a migrant. The net inflow rankings were compiled based on the total number of migrants.

☆ These 7 states are the safest in the country for identity theft and fraud
▼ + stars: | 2022-12-09 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +4 min

Residents of Montana and Arkansas experience less identity theft — or other types of fraud — than the rest of the country. Montana residents were least vulnerable to identity theft and other types of fraud — recording the second-fewest identity theft complaints per capita in 2021, with just 106 complaints per 100,000 residents, according to the report's analysis of Federal Trade Commission data. By comparison, Rhode Island recorded the most identity theft complaints per capita, with 2,857 reports per 100,000 residents in 2021, according to FTC data. Here are the seven least vulnerable states for identity theft and fraud, based on NerdWallet's rankings:Montana Arkansas Indiana Maine Wyoming Oklahoma WashingtonCases of fraud, including identity theft, have risen in recent years, spurred partially by the Covid-19 pandemic and an uptick in data breaches flooding the black market with stolen personal information. Earlier this year, the FTC reported that consumers filed more than 5.7 million fraud reports in 2021, roughly a quarter of which were identity theft complaints.

☆ It's the best time to buy a used car in 16 months — as long as you don't have to take out a big loan
▼ + stars: | 2022-12-08 | by ( Jacob Zinkula | Madison Hoff | ) www.businessinsider.com time to read: +4 min

Used car prices have fallen to their lowest level since August 2021. As the Federal Reserve has raised interest rates in an effort to cool inflation, interest rates on car loans have risen in tandem. In October, the average annual percentage (APR) rate on used car loans rose to 9.6%, the highest level in over a decade. For those less reliant on financing for their car purchases, however, this could be their best chance to buy an affordable car in over a year. While the new car market is expected to cool off as well, used car prices continue to be where the best bargain is.

☆ These 7 states face the highest risk of identify theft and fraud
▼ + stars: | 2022-12-08 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +2 min

Online fraud cases, including identity theft, have hit all-time highs in recent years — which means you're likely more at risk than ever of having your personal information targeted by hackers or other bad actors. Consumers filed more than 5.7 million fraud reports with the Federal Trade Commission last year, including nearly 1.4 million reports of identity theft. Online fraudsters can seek you out anywhere, but identity theft and fraud are more prevalent in some states than others. Here are the country's seven most vulnerable places for identity theft and fraud, according to the report:Washington D.C. Delaware Louisiana Rhode Island Colorado Pennsylvania GeorgiaWashington D.C. tops the list as the place with the most online fraud and identity theft. The rankings give the most weight to the number of identity theft and fraud complaints per capita, as well as the average losses for the victims of those complaints.

There are four main types of cash-back credit cards, and the Capital One Quicksilver Cash Rewards Credit Card falls into the flat-rate rewards category. How to use rewards from the Quicksilver Cash RewardsYou can redeem your rewards from the Capital One Quicksilver Cash Rewards Credit Card for a check in the mail or a statement credit. Unlike some other cash-back credit cards, there's no minimum redemption amount with the Capital One Quicksilver Cash Rewards Credit Card. What credit score do you need to qualify for the Quicksilver Cash Rewards Card? Most folks who qualify for the Capital One Quicksilver Cash Rewards Credit Card have a good to excellent credit score (FICO score of at least 670).

☆ Deluge of Fraud Claims Adds to Concerns About Credit Scores
▼ + stars: | 2022-12-02 | by ( Annamaria Andriotis | ) www.wsj.com time to read: 1 min

The consumer credit-scoring system has long been opaque and confusing. One change intended to help people navigate the system has created a whole new set of problems. In recent years, a government website has made it easier for people to file claims of identity theft so they can remove fraudulent accounts from their credit reports. Those reports are the basis of credit scores sold by Equifax Inc., Experian PLC and TransUnion to banks as they make lending decisions.

☆ People with perfect credit scores have 3 key traits in common, Experian reports
▼ + stars: | 2022-12-02 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +4 min

The few people who do manage to achieve perfect credit scores tend to share three key traits, according to Experian's latest analysis. People with perfect scores are typically older"You're not likely to see many 25-year-olds with a perfect credit score," Matt Schulz, chief credit analyst for LendingTree, tells CNBC Make It. People with 850 credit scores tend to carry about $2,588 in credit card debt, compared to the national average of $5,221. A near-perfect credit score is good enoughAlthough having a perfect 850 credit score may earn you bragging rights, it doesn't come with many additional benefits. "The reality is that you're not going to get anything with an 850 credit score than you wouldn't be able to get with an 830 credit score, or really even a 780 or 790 credit score," says Schulz.

You can also get a free credit report if you suspect your identity has been stolen or if your credit application has been denied. How to get your free credit reportWhile your credit score is readily available from several sources including financial institutions, lenders, and third-party credit monitoring services, you will have to do a little more work for your credit report. Additional free credit reportsThere are additional situations in which you can get a free credit report. If you place an initial fraud alert on your credit, you can receive a free credit report from each bureau in addition to the annual free reports you usually get. The services that go through credit bureaus will give you access to additional credit reports, such as myEquifax, which offers six free credit reports annually, or Experian Boost, which offers a free credit report every 30 days.

☆ Credit Scores Get Bogged Down by Deluge of False Identity-Theft Claims
▼ + stars: | 2022-12-01 | by ( Annamaria Andriotis | ) www.wsj.com time to read: 1 min

☆ This Secured Credit Card Has the Best Cash Back Rewards
▼ + stars: | 2022-11-29 | by ( ) www.wsj.com time to read: +5 min

By Ana StaplesThe Capital One Quicksilver Secured Rewards is a secured version of the Capital One Quicksilver Cash Rewards Credit Card, which makes this credit builder a decent cash back card in its own right. Capital One Quicksilver Secured Rewards Learn more Fair credit requiredAnnual fee: NoneBase rewards: 1.5% cash backBonus rewards: NoneIntro offer: NoneAPR: 28.49% variableThe card’s simple rewards structure, as well as the opportunity to graduate to its popular unsecured sibling, is why we named it Buy Side from WSJ’s pick for Best Secured Credit Card for Rewards. For instance, the Discover it® Secured Credit Card, our pick for Best Overall Secured Credit Card in 2022, lays out these terms on the card’s webpage. That’s the same return you’d get with unsecured cards like the Bank of America® Unlimited Cash Rewards credit card or the American Express Cash Magnet® Card. For example, the Discover it Secured and the Bank of America® Customized Cash Rewards Secured Credit Card will still earn you cash back, and you can qualify with bad or no credit.

☆ Residents of this state have the worst average credit score—see how you stack up
▼ + stars: | 2022-11-28 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

Read on to see the 10 states with the lowest average credit scores and what credit experts say you can do if you want to bring your score up. Credit scores generally run from 300 to 850, with scores over 750 considered "excellent." Plenty of Americans have some work to do on the credit score front. That's bad news for Mississippians, whose average credit score of 662 is the worst in the nation, according to a recent report from WalletHub , based on data from TransUnion. But being among the worst when it comes to credit scores is especially disappointing.

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