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Tag: credit

News 

How to finally address the country’s out-of-control student loan crisis, according to a finance professor

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“On a U.S. household basis, average student loan debt totals $47,671” writes Mark T for businessinsider.com. As loan defaults skyrocket, many are exposed to long-term financial harm while rising student loan debt impacts mental health and worsens gender and racial injustice.Student loan debt is not simply a young person’s problem.Recent public health studies also have shown that student debt can impact stress level, sleep and lead to depression. Source: businessinsider.com

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Atlanta startup Qoins is rolling out a new feature that will lend users an extra pair of hands to pay off their debts

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“Qoins, an Atlanta-based startup that helps people pay down their credit card debt, is rolling out a new feature that will lend users an extra pair of hands to pay off their debts” writes Madeline Shi for businessinsider.com. The app plugs into users’ bank accounts, through Plaid’s API, and rounds up each of their purchases to the nearest dollar.The firm found that more than 40% of all US households carry credit card debt, with the average American household carrying a balance of $5,700.The newly announced feature, named “MoneyTree,” lets users…

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This is how much bad credit affects your mortgage

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“Borrowers who come to the table with lower credit scores can find that their mortgage loan costs more because of their bad credit scores” writes Scott Sheldon for marketwatch.com. A loan costs someone with a bad credit score more because of higher interest rates and the resulting higher monthly mortgage payments imposed on those with less-than-perfect credit.Generally, a good financial rule of thumb is to keep your credit card balances at no more than 30% of the credit limits per credit card—this is also known as your credit utilization ratio which…

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The most convenient tools to help pay off credit card debt can ultimately save thousands of dollars

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“For instance, you might consider: If you’re leery about using another credit card to get out of credit card debt, that’s totally understandable” writes Holly Johnson for businessinsider.com. So let’s say you open the Citi Simplicity Card and transfer your credit card debt within the first four months.With balance transfer credit cards, you get the option to break the cycle and pay down debt as fast as humanly possible.Now let’s imagine you transfer your high-interest credit card debt to the Citi Simplicity Card.Here’s why a 0% APR is such an…

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Markets News Stocks 

$10 trillion in corporate debt has become a ticking time bomb for the next credit crisis — but one group of stocks is best positioned to escape it

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“But outstanding corporate debt, which now stands at nearly $10 trillion, is where the red flags are more frequently hoisted” writes Akin Oyedele for businessinsider.com. A decade after the crisis, investors’ biggest concern is no longer household debt.Their net-debt-to-EBITDA ratio has more than doubled since 2009 and was 1.5 times that of their S&P 500 peers at the end of 2018.Half of the small-cap companies have debt that comes due within the next five years, compared with 40% of the S&P 500. Source: businessinsider.com

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Central 1 Combines Invoicing With Payment Request For SMBs

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“Canadian financial technology provider Central 1 is linking its credit union customers to a new solution designed to streamline accounts receivable for small businesses” reports pymnts.com. The company said in a press release Wednesday (March 13) that it is combining its small business online invoicing solution with its Request Money tool, rolling the solutions into its single digital platform that integrates the Interac e-Transfer Request Money solution, which Central 1 said will reduce fees that small businesses face when using traditional online payment solutions.The tool links directly into small to…

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Bloomberg: Apple TV service to feature mostly content from partners at launch, Apple’s original TV shows coming later

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“The report also implies that Apple will debut its new Apple credit card offering on stage, alongside the TV and magazine/news subscription service” writes Iphone Wireless Charger for 9to5mac.com. The Apple credit card is apparently codenamed ‘Project Cookie’.The report says Apple has invited payment industry journalists to the event, heavily suggesting that the credit card project will feature. Source: 9to5mac.com

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Crypto News Platforms 

Binance’s Trust Wallet Enables Credit Card Payment, Adds XRP Support

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“Binance has added support for credit card payments on its official wallet platform Trust Wallet” writes Arnab Shome for financemagnates.com. Along with the credit card support, the platform has added support for XRP storage as well.Both the firms first joined hands in January this year to bring similar payment support on Binance’s flagship crypto exchange.Last month, the crypto exchange launched the public test network of its much anticipated decentralized crypto exchange called Binance DEX. The exchange has also decided to make Trust Wallet the native wallet platform for the upcoming…

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Trump Wants EVs Tax Credit Gone. GM, Tesla Want It Expanded.

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“Tesla and General Motors not only want to see the tax credit remain, but they also want it expanded beyond 200,000 vehicles” writes Bill Howard for extremetech.com. Most of the auto industry wants to see the tax credits continued.Critics of the tax credits say they want to see companies stand on their own feet.By the most amazing of coincidences, Tesla and GM are also the only two companies that have run through their allocation of 200,000 $7,500 tax credits and are in the one-year wind-down phase that provides partial credits.President…

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