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11 alternatives to cut down on the cost of cash advances.


If you are in need of money and need cash fast? The prospect of fast and simple payday loans for cash could be seen to be a feasible option. But is it really the only alternative?

The Center for Responsible Lending calls payday loans “predatory” due to the legal reason. The easy access that payday lenders have to obtain cash to pay for their payday generally results in cost of borrowing being at the highest amount. According to the CRL estimate that the average annual cost of payday loans of 391 USD. This %…

The potential danger with payday loans lies in the high interest rates but the possibility of them being renewed could pose a risk. If you’re not sure to be in a position to repay the loan on its due date, you should consider to extend your credit. Consumer Financial Protection Bureau warns that some states allow extensions to payday loans. This is only the cost to lenders when you extend the loan period. When you’re done with the day, you’ll be charged costs for renewals, extensions as well as late fees. However, you’ll be held accountable for the original amount. It could result in an costly cycle of credit.

The advantages of cash-on-payday advances aren’t the only option for people facing financial challenges. Here are eleven another way to consider.

Create an arrangement to pay

If, for instance, you’re faced with the expense of the loan or credit card which makes it difficult to cover the necessary expenses, you should be aware of whether you’re capable of accepting an arrangement. Many card issuers offer hardship programs that permit the user to decrease or even eliminate payments that you’re not capable of making. The issuer may offer to lower the interest rate to help you control your debts.

If you’ve had a great relationship with a client in the past , the lender will be more likely to consider the request with a serious attitude. In any situation, it is important to be forthcoming about the situation.

Then you can make an application for an individual account

While banks are known for their inefficiency and openness however, they also have long procedure, but it is important to consider the nearby bank when in need of cash. If you need cash for a particular requirement, a personal loan from the bank or credit union is a good option and cheaper than payday loan.

“It’s more like a traditional loan designed specifically to provide you the money you need to cover the things you’d like to buy or refinance. You’ll be able set the repayment timeframe,” says Andy. Laino. Financial analyst at Prudential.

There is however no restriction on brick and mortar firms. Online lenders such as SoFi and Earnest allow you to review the terms and rates you qualify for, and without needing to conduct a thorough examination to see the score on your. While these lenders aren’t able to offer instant cash as cash advance loans can be but personal loans could be paid into your bank account within two days after the loan has been approved.

“Personal loan is often the most efficient method to lower debt, particularly for people who have significant medical bills or anticipating home improvements that are reasonable in costs,” Laino explains. “When you’re facing an expense which require more careful evaluation, you must consider the possibility of getting a personal loan. 

Credit card access your home equity

Homeowners could be eligible to get an interest-free credit line that is tax-deductible in accordance with Howard Dvorkin, personal finance expert and director of Debt.com. “For those earning a salary that is stable it could be the most efficient way to get funds quickly,” he says. The average HELOC cost is approximately five percent.

Take care to be aware when using your home as a means to make money quickly. “For those struggling financially, making use from the value of their homes could cause the home to be in danger should they are unable to repay this loan” Dvorkin said.

You can also get the loan to offer an alternative to payday loan.

Some credit unions can provide cash advances in exchange for payday cash advances. These are short-term loans designed to stop people who are consumers from payday loans which are characterized by high interest rates.

The loans are available in amounts ranging from 200 to $1,000, with periods ranging from one and six years. A credit company that offered the loan may charge processing fees that could be as high as 20 dollars per month, according to MyCreditUnion.gov. You must be active at the moment of purchase to be eligible for a APAL. You must also be associated with the institution for more than one month to be eligible.

Pay attention to the fact that loans for payday without collateral could be extremely expensive to pay back. The good thing is that the fees for PAL are fixed at 28% according to the law.

Advances of cash, made in cash are protected by credit card.

Cash advances made with credit cards isn’t the most cost-effective choice however, they are more secure than loans made for payday. Most lenders will charge an advance-type fee, typically around five percent and with at least 5-10. The average rate of interest for advances in cash is 25.

The most crucial thing is to repay the loan if the rate of interest is over the limit for. Contrary to balance transferred or purchase balance that earn interest from the moment you make it when you cash advance with credit card. If you let the balance to remain unpaid every month and you take out a loan to meet short-term requirements may become a credit problem that lasts for a long period of time.

It is possible that you may obtain an advance loan from an employer who is your

Cash advances from your pay will help you with cash flow issues. Certain companies do not offer these kinds of loans, and the terms differ. It’s important to keep in mind that it’s a loan that you’ll need to pay back within the timeframe you’ve made to set.

Make an application to submit an application to Paycheck Advance application. Paycheck Advance application

If you’re planning to include it into your budget, and to earn an income that is stable, you could make use of apps. Companies like Earnin as well as Brigit will reimburse you for the amount you received for no cost. There are no charges however some applications let you make gratuitous tips.

Get an amount of money in your retirement savings (k)

A method of taking advantage of another source of income in your workplace that is not part of your earnings and this is through retirement savings accounts, also known in the form of (401 (k). While the general wisdom advises trying to gain access the account before taking money from an account for retirement, that you could gain from it. an option (401 (k) credit may be an option if you’re in a bind.

The loan you take out through an account for retirement (k) is tax-deductible if you adhere to the regulations applicable. This means that you’ll have to be capable of repay the loan on time or in full when you leave your current position and begin an offer for a new position. The loan isn’t subject to approval to credit, and you won’t be charged a fee for interest on the account that you’ve created. If the loan is repaid within one more than one year repay the loan in one year or less, the effect on your earnings in the coming years is negligible. Be sure to notify your employers that you may not permit you to take a look at the benefits of pension plans (k) while you make repayments on your loan. This can slow your progress toward creating your nest savings plan in order to save for retirement.

Visit an Pawnshop

Pawnshops provide secured loans that don’t require credit checks or an extensive application. The money can be obtained quickly by placing the collateral on a thing that’s worth. After you’ve paid off the loan, as well as any costs within the period you’ve pledged to pay for your collateral , it will be refunded. If you don’t repay the loan on time the collateral you promised to remove. You made a promise to.

Be aware that the amount you are required to pay to the pawnshop may be different. The interest rates range from 12 to 240 percent, subject to rules of your state you reside in. The cost of storage and insurance may be a part or the total amount. This is a benefit if you’re unable to repay the loan and want to end the loan, it’s possible to do it without incurring additional costs or affecting your credit scores.

Use a peer-to-peer lending platform

Peer-to peer loans are a wonderful method of receiving cash faster through the connection of investors through an online loan platform such as LendingClub or Prosper. Investors who use these platforms are able to explore the loan options and pick which one they would like to transfer their money into. In exchange, they’ll be required to make payments for interest. There’s a chance that you’ll have to have to pay an initial fee that is a fraction of a cent.

The rates of interest for loans made through P2P are usually extremely low, particularly when the applicant has credit scores that are good. With LendingClub rates, the range is between 10.68 percent and 35.89 APR for one. The process for applying is usually less complex as compared to traditional banking. P2P loans can offer some other advantages. “A P2P loan can be more entertaining compared conventional banking” Dvorkin adds. Dvorkin.

The can request relatives or close relatives

When you’re contemplating becoming in debt because of the high cost of interest as well as other charges that are excessive is a significant worry, you may be thinking about reaching out to your family member or a friend of yours to seek financial assistance.

It’s not easy to grasp, but it’s an option you can consider if you wish to stay clear of the cost of interest and fees that come to payday loan. Be aware that borrowing from a friend you trust can turn a casual friendship into one that is formal. It is crucial to make sure that you’re able to repay the person whom you borrowed money from as the relationship may be destroyed in the event you fail to adhere to the conditions of the contract. Family members shouldn’t lend the amount they are in a position to.

Optimus Cards Introduces Credit Card for Credit Union


In a UK first for credit unions, Optimus Cards, the UK’s most innovative provider of white label cards and banking solutions for traditional and new currencies, has launched its new credit card product flexible and responsible to credit unions at the annual ABCUL conference.

Additionally, Optimus Cards announces its collaboration with NestEgg to support its credit card program enabling credit unions to adopt automated decision making for credit card applications. NestEgg helps individuals improve their financial health by starting with affordable credit from selected responsible lenders.

In another giant leap for the industry, this collaboration means credit unions can set their own risk appetite for credit card approvals by automating limits based on the borrower’s credit profile.

Optimus has been at the forefront of this new credit card strategy. The company has served on the ABCUL’s Credit Union Working Group, which has led to the development of a policy framework on behalf of its members over the past 18 months.

This new initiative is based on the same Optimus principles of owners of the balance sheet, line of credit, risks and receivables still owned by the credit union.

Lindsay Ward COO of Optimus Cards commented. “This is an important strategic decision for Optimus. Working with Adrian and the NestEgg team has given us a better understanding of the needs of the credit union industry. The additional insights from NestEgg Systems means we can launch a flexible and robust credit card solution that is unmatched in the credit union space. This credit card program will allow credit unions to adopt a new service for their members while opening a new book of affordable loans.

“Optimus provides a credit card on behalf of UK credit unions in a very transparent and simple way. All receivables in the program are owned by independent credit unions. The solution and loan portfolio are owned by the credit union, while such as their consumer credit license, risk and portfolio P&L. This is an exciting time for Optimus,” concluded Ward.
Adrian Davies, co-founder of NestEgg, said, “NestEgg is thrilled to partner with Optimus Cards to fulfill a long-standing ambition of the credit union movement: to provide a credit card to members.”
“With 1/3 of credit union borrowers holding revolving credit elsewhere, the demand is there. In fact, more than two-thirds of members using revolving credit had near or optimal credit scores. And once opened, credit card accounts stay open; in most cases for more than six years.

“We sought out this opportunity with several credit unions. and were amazed to find that in some credit unions, 94% of borrowers had not missed a single repayment. The challenge has always been to make revolving credit work in a practical way for members. Now Optimus Cards can make that a reality,” Davies concluded.

As a regulated CaaS (cards as a service) provider and principal member of Mastercard, Optimus Cards provides payment and banking solutions to regulated and unregulated businesses, from simple BIN sponsorship to program managers, to managing full of cards and banking services. solutions, Optimus’ strategy is based on innovation, speed and flexibility. Offering its solutions to mutual businesses such as credit unions and building societies. Optimus’ footprint and success is built on ecosystem integrations with many core banking platforms. Providing the ultimate in integrated banking and card solutions.

As a result of the research, NestEgg has developed automated decision making for credit card applications. This means credit unions can set their own risk appetite for credit card approvals, automating limits based on the borrower’s credit profile. Currently, NestEgg helps a credit union decide on a loan application every three minutes, 24 hours a day, 7 days a week, 365 days a year.

How to Get the Best Mortgage Interest Rate as Rates Rise


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Improve your credit score

When applying for a new line of credit with a low credit score, you will likely receive a higher interest rate, which will make it more expensive for you to borrow money. The same idea also rings true when it comes to applying for mortgages.

Remember that your credit score can give lenders clues as to how likely you are to repay borrowed money on time and in full – which is why lenders consider people with lower credit scores to be more borrowers. risky and offer interest rates that are towards the higher end of the lender’s range.

Conversely, when you apply for a home loan with a higher credit rating, you will be considered a less risky borrower who is likely to repay the loan amount on time and in full. Lenders will then feel more comfortable offering a lower interest rate and it will be cheaper for you to borrow money.

Paying your bills on time is the most important thing you can do to boost your credit score. You should also try to keep your debt balance low and check your credit report regularly so you can challenge any potential inaccuracies that could lower your score – credit monitoring services like Experian and IdentityForce® can help with that.

Find the best rate in your area

Mortgage interest rates can fluctuate depending on the market and national rates can provide a good rough estimate of where your rate might be. Keep in mind that the rate you are likely to receive will depend more on factors such as your specific location, credit score and credit report. While you can check each lender’s website to get an idea of ​​the interest rates they charge, the best way to get an accurate idea of ​​what you’ll be paying is to provide the necessary information and check your rate.

That said, it’s important to submit your information and verify your rate with more than one lender so you have a better chance of getting the lowest rate possible. Don’t worry about your credit score getting hit multiple times – when you apply for a mortgage, you can submit your information for further investigation as often as needed within 45 days without your credit score suffering.

Although you won’t always get an extremely low rate between lenders, even a small distinction can make a big difference in the amount of interest you’ll pay each month.

Consider a shorter loan term

Terms of 15 and 30 years are common for mortgages, meaning you would have 15 and 30 years respectively to pay back the money you borrowed to buy your home. A 30-year loan generally gives you a longer time horizon to make payments, as well as smaller monthly payments. Note that shorter loan terms usually carry slightly lower interest rates since you agree to repay the loan over a shorter period.

Rocket Mortgage offers home loans with terms as short as eight years and as long as 29 years — this lender also offers Federal Housing Administration, or FHA, loans with down payments as low as 3.5%. Other lenders, such as SoFi and NCP Bank, offer durations between 10 years and 30 years. SoFi is also offering a number of loan benefits — a $500 rebate for SoFi members and up to $9,500 in cash back when you buy a home through the SoFi Real Estate Center — that could potentially offset at least part of the interest you would pay even if you decide to opt for a longer loan term.

Rocket Mortgage

  • Annual Percentage Rate (APR)

    Ask online for personalized rates

  • Types of loans

    Conventional Loans, FHA Loans, VA Loans, and Jumbo Loans

  • terms

    8 to 29 years old, including 15 years old and 30 years old

  • Credit needed

    Generally requires a credit score of 620, but will consider applicants with a credit score of 580 as long as other eligibility criteria are met

  • Minimum deposit

    3.5% if you go ahead with an FHA loan


  • Can use the loan to purchase or refinance a single-family home, second home or investment property, or condo
  • Can be pre-qualified in minutes
  • Rocket Mortgage app for easy access to your account

The inconvenients

  • Performs a thorough investigation to provide a personalized interest rate, which means your credit score may take a hit
  • Does not offer USDA loans, HELOCs, construction loans, or mobile home mortgages
  • Does not manage accounts for jumbo loans after closing


  • Annual Percentage Rate (APR)

    Apply online for personalized rates; fixed and adjustable rate mortgages included

  • Types of loans

    Conventional loans, jumbo loans, HELOC

  • terms

  • Credit needed

  • Minimum deposit


  • Quick pre-qualification
  • Provides access to mortgage officers for advice
  • $500 off for existing SoFi members
  • Interest rate deduction of 0.25% when you lock in a 30-year rate for a conventional loan
  • Offers up to $9,500 cash back if you buy a home through the SoFi Real Estate Center

The inconvenients

  • Does not offer FHA, VA, or USDA loans
  • Mortgages are not available in Hawaii, New Mexico or New York

Choosing your term is an extremely important decision as there are advantages and disadvantages to choosing a shorter term over a long term. If you end up opting for a shorter term, make sure that the larger monthly payments that would inevitably follow can fit within your budget.

Check out Select’s in-depth coverage at personal finance, technology and tools, welfare and more, and follow us on Facebook, instagram and Twitter to stay up to date.

Editorial note: Any opinions, analyses, criticisms or recommendations expressed in this article are those of Select’s editorial staff only and have not been reviewed, endorsed or otherwise endorsed by any third party.

Credello: How to get a personal loan of $50,000 or more


NEW YORK – May 23, 2022 – (Newswire.com)

A personal loan of $50,000 or more can help you get the money you need to buy a new car, pay off your mortgage or start a business. But how do you find a lender who will give you the best personal loan for your needs?

Step 1: Get your credit score in top shape.

Your credit score is the key factor that lenders use when considering a personal loan for you. If your credit score is in poor shape, your lender may not be willing to give you a loan or may require more collateral than you are willing to give. Generally, to get a $50,000 loan, you must have a credit score of 700.

To improve your credit score, you must first understand how your credit score is calculated. Your FICO score – the score used by the majority of lenders – is based on five factors, each representing a different percentage of your total score:

  • Payment history – 35%
  • Use of credit – 30%
  • Credit age – 15%
  • Credit composition – 10%
  • New credit applications – 10%

Although negative items such as late payments or difficult inquiries/credit inquiries will remain on your report for a few years, you can lessen their damage by improving other areas. Creditors typically report activity to the credit bureaus about once every 45 days. So if you’re considering applying for a personal loan, try to do so about 60 days after you’ve made improvements in your credit report.

How to quickly improve your credit score.

There are a few things you can do to quickly improve your credit score:

  • Pay your bills on time. This will help you establish your credit history and show lenders that you are a responsible borrower.
  • Pay more than your minimum payment. This will help you reduce your use of credit.
  • Don’t open too many new accounts. Having too many credit accounts can hurt your score because it suggests you’re not being careful with your money.
  • Use a credit monitoring service. This will help you track your progress and see if there are areas where you need to improve.
  • Consider getting a secured credit card. Secured cards are a great way to build your credit score because they show lenders that you are a responsible borrower.

Step 2: Compare interest rates and terms.

Before starting your loan application, it is important to compare the interest rates and terms offered by different lenders. You want to find a lender that offers the lowest possible interest rate while giving you enough time to pay off the loan in a way that fits your budget.

Step 3: Get pre-approved for a personal loan.

Once your credit score is in good shape and you’ve compared interest rates and terms, it’s time to get pre-approved for a personal loan. This will help speed up the application process and ensure that you are approved for a loan that fits your needs and your budget.

Step 4: Complete the application process.

Once you’ve been pre-approved and completed the application process, it’s time to wait for a response from the lender. You will likely receive a decision within 24-48 hours, but you may need to be patient as some lenders take longer to approve loans.

The bottom line.

Follow these steps and you’ll be well on your way to getting the money you need!

press release department

Primary source:

Credello: How to get a personal loan of $50,000 or more

5 things we learned from Sunday’s Premier League action

Another Premier League season is on the books but not before another frenetic ending that will long be remembered.

Here, the PA news agency reflects on what we’ve learned from the latest round of encounters.

The city shows its courage

Manchester City have won a fourth Premier League title in five seasons (Martin Rickett/PA) (PA wire)

After withering in the Bernabeu cauldron earlier this month, there would have been uncomfortable questions for Pep Guardiola if Manchester City had been propelled to the title by Liverpool. And for moments over the past two weeks, it looked possible that Guardiola’s side would fall flat. Against West Ham and Aston Villa they lost 2-0 but fought back to a 2-2 draw at the former before a stunning upset against the latter in a 3-2 win to claim a fourth title in five seasons. While that doesn’t hide their Madrid grief, they showed strong character to get through a testing period.

Liverpool must move on – quickly

Liverpool’s four-time bid ended on Sunday (Peter Byrne/PA) (PA wire)

Perhaps the fact that Liverpool have not, at any point, reached the top of the table on an absorbing final day will soften the blow. The title was never within their reach, with only a few late goals securing a 3-1 win over Wolves. But an unprecedented quadruple goes up in smoke and it will sting in the days to come. But Jurgen Klopp can get his hands on the prize Guardiola covets most as Liverpool travel to Paris to face Real Madrid in the Champions League final next weekend. Now, then, is not the time to wallow. Adding the Champions League to the FA and Carabao Cup gongs would still be a great season.

Tottenham redefines ‘Spursy’

Son Heung-min, pictured, has been unstoppable for Tottenham this season (Nigel French/PA) (PA wire)

There was a time when Tottenham capitulated at the end of the season, and north London rivals Arsenal reveled in their misfortune. But there was no indication there would be a mistake at Carrow Road as Spurs netted five goals against bottom Norwich to claim fourth and final Champions League berth. Arsenal won big – 5-1 against Everton – but that result was only enough for Europa League football next season. South Korean striker Son Heung-Min, whose brace on Sunday means he shares the Golden Boot with Liverpool’s Mohamed Salah, has been instrumental for Spurs this season.

walk together

Leeds head coach Jesse Marsch celebrates Premier League survival (John Walton/PA) (PA wire)

Hours after Leeds secured their top-flight status for another season, chairman Andrea Radrizzani threw his support behind head coach Jesse Marsch. The 48-year-old American is yet to convince much of the fan base after replacing Marcelo Bielsa in February, but Sunday’s 2-1 win at Brentford – coupled with Burnley’s loss to Newcastle – has largely helped to silence his detractors. And Radrizzani said: “We believe that with time and a full pre-season, Jesse will be the man to take this club forward.”

Burnley’s roll from the Dyche finally backfires

Burnley have been relegated to the Championship (Nick Potts/PA) (PA wire)

Burnley have drawn heavy criticism for getting rid of Sean Dyche and while caretaker boss Mike Jackson has won almost as many games in a month as the Clarets have won the previous eight, a 2-1 loss at home to Newcastle have ended their six-year stay in the division. . A player exodus could now occur, with captain Ben Mee and fellow defender James Tarkowski out of contract while goalkeeper Nick Pope and winger Dwight McNeil are also likely to move on. Meanwhile, Burnley’s accounts have confirmed the club would have to repay a “substantial” part of a £65million loan taken out during the leveraged takeover of ALK Capital if relegated. An instant return, at this time, does not seem a certainty.

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SOS: Identity of the woman confirmed; credit card account reactivated | Just ask us


Margaret Guadarrama had a trying winter holiday season.

First a hacked debit card, then a lost phone, then having to create a new Gmail account because the number that Google wanted to confirm as hers so she could access her old Gmail account was the old number that she no longer had.

“In the meantime, I got a new debit card, but some of my creditors got paid with my debit card and because I had a new one, they weren’t getting paid,” he said. she stated. “Because I had a new phone number and email, they couldn’t contact me.”

Almost all of this she was finally able to train on her own, she said. The exception was his Amazon Rewards credit card from Chase Bank.

Guadarrama emailed SOS on March 24 to say she had spent the past week trying unsuccessfully to re-establish friendly relations with the account which apparently could not confirm her identity via phone number, device or personal information.

At one point, she says, the identity verification gods asked her if she had ever lived at one of the four addresses in Cedar Park, Texas. Her ex-husband had, she said, but not her, which “wasn’t the answer they wanted.” She said Chase told her to refrain from using her card and she would call him the next day. She did, but they didn’t, she said.

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“All I want to know is how much I owe them and how much I have to pay per month,” she said. “However, it seems unimportant to them because they cannot verify that I exist.”

SOS first emailed Chase and Amazon on behalf of Guadarrama on April 11; nine days later, neither she nor SOS had replied.

So SOS harassed them again on April 21 and was rewarded less than an hour later with a response from Ashley Dodd, card communications manager for Chase Card Services, who said Guadarrama’s concern had been “transmitted” to “our executive office”.

SOS: Getting Dave Brubeck's

The next day she was back to say “we have spoken directly with Ms Guadarrama and confirmed that she now has full access to her account”.

Guadarrama confirmed the same to SOS on April 26.

“The security of our customers’ accounts is a top priority and for its protection, a temporary suspension has been placed on Ms. Guadarrama’s account after we detected a potential suspicious call when she was initially unable to pass security authentication,” Dodd said.

SOS: Credit/refund in Fiji is the latest element of the “dream trip” canceled by COVID-19

Paschke said “Josh” said to keep his number and he would “personally make sure I get the money back after December.”

SOS records its first twofer: another canceled flight reward runaround

Loyal readers may remember John Schmitz from April, when, at the start of the COVID-19 pandemic, SOS was able to help him break through…

SOS: mail delivery, wire harness, airline credits, oh boy!

“If I hadn’t gone to the post office and done my own investigation, we wouldn’t have received our ballots.”

SOS: Travel reimbursement to United Airlines provided a lot of turbulence

Paul Weimer called United’s explanation “the revisionist story”.

SOS: Frontier Airlines Responds to 1 of 2 Customer Complaints

“Why wouldn’t I use those 50,000 miles for free flights if I had them in my account in early June?”

SOS: Frontier Airlines changes course and refunds canceled flight

Airlines have taken advantage of federal rules that allow them to deny refunds of non-refundable tickets to travelers who cancel their trip.

SOS: At least mitigate the damage caused by the COVID-19 pandemic

SOS tackles the problems of unemployment and plane tickets.

SOS: a fan promised reimbursement for a flight she never took, a match she did not attend

“They don’t seem to understand that if I couldn’t get to Tampa, how was I supposed to use the ticket and get back?”

1 artificial intelligence growth stock to buy right now


The stock market is currently experiencing the toughest losing streak since the pandemic began in 2020. The broad S&P500 The index is down 19% from its all-time high, putting it a hair’s breadth away from bear market territory. But technology centered Nasdaq-100 the index is already there, with a loss of 28.3% since November 2021.

While the investment picture can be scary for many investors, history suggests that bear markets always eventually recover, so this might actually be a great time to put some cash to work. Here’s a fast-growing stock leveraging cutting-edge technology, and it’s worth considering as it’s trading at an 88.9% discount from its all-time high, despite the company being very profitable .

Image source: Getty Images.

Upstart is transforming the lending industry

For several decades now, Just Isaacit is (FICO 4.41%) The FICO credit scoring system has been the standard for determining consumer creditworthiness. It takes into account five key factors, including an individual’s repayment history, current level of debt, and types of loans currently held.

But Assets received (UPST -13.34%) says these metrics don’t paint a full picture of a person’s ability to repay a loan. The company built an artificial intelligence algorithm that measures 1,600 data points, including where a potential borrower currently works and their education, to generate a more accurate credit score. The algorithm also arrives at a decision instantly 74% of the time, which can save days or weeks for an employee manually generating a credit score.

It’s a big win for the banks, one of which has completely ditched FICO scores in favor of this new era technology. This raises an important point: Upstart’s goal is not to issue loans itself, but rather to offer them to its banking partners in exchange for a fee. Typically, this means that Upstart has little to no credit risk, although it has recently temporarily deviated from this strategy, which is one of the reasons its stock has fallen so sharply.

The company conducted research and development for its new auto lending segment, and it had used $252 million of its own cash by the end of 2021 to provide loans to borrowers. At the end of the first quarter of 2022, that figure soared to $597 million as the company struggled to sell the loans to its partners under difficult credit conditions.

Upstart management says it expects this to be temporary, and since Upstart originations exceeded $4.5 billion in the quarter, the $345 million in additional credit risk that it absorbed in the first quarter represent only 7% of all the loans that its algorithm has created.

Upstart’s growth soars

Upstart has come a long way from humble beginnings creating unsecured personal loans, which represents a $112 billion annual market opportunity. The company’s 2021 entry into the much more lucrative auto loan segment opens up an addressable market roughly six times larger.

The key to getting the maximum auto loan volume is to meet potential borrowers where they shop – at car dealerships. To accelerate its progress, Upstart acquired car dealership sales software company Prodigy. He integrated his algorithm into this platform to create what is now called Upstart Auto Retail, a two-in-one sales and lending software that has been adopted by 525 dealerships serving 35 different automakers. That’s a whopping 224% jump from just a year ago.

These advancements helped Upstart generate $310 million in revenue in the first quarter of 2022, a 156% year-over-year increase.

But it’s better for Upstart

Upstart has hinted that its eye may be on even broader segments of the lending market. In his presentation last quarter, he highlighted the $644 billion small business loan market and the $4.5 trillion mortgage market. The company hasn’t explicitly outlined its plans to enter these ventures, but by mentioning them, it offers some insight into the direction Upstart could take for its next phase of growth.

Unfortunately, an expected slowdown in economic growth caused Upstart to limit its revenue forecast for 2022. Management expected to generate $1.4 billion, but that was revised down to $1.25 billion; that’s still a 47% jump from the 2021 result of $849 million.

The company is also very profitable, with adjusted earnings per share of $2.72 on a 12-month basis. That puts Upstart stock at a price/earnings multiple of 18.9, a 27% discount to the Nasdaq-100 index, which trades at a multiple of 26.

Upstart’s stock price may be down 88.9% from its all-time high of $401, but it is up 77% from its 52-week low, which was fixed after the publication of its results just two weeks ago. Clearly, some investors still see value in the company, and it’s arguably still very cheap.

Where should the poor be allowed to live?

Image by Anders Holm Jensen via Unsplash

Saturday, May 21, 2022

When affordable housing is scarce, where should Boulder build it and how far should the government go to punish people who survive by living in cars or on public land? Ones where the issues were debated by elected officials this week as Boulder City Council weighed plans to add housing to East Boulder and county commissioners rejected plans to punish homeless people.

Below is a look at the city and county’s action this week:

Business concerns kill housing plan near pharmaceutical manufacturing plant

Boulder leaders have spent the past month finalizing the East Boulder Sub-Community Plan, a primary document intended to guide redevelopment in the employment-intensive area for decades to come. With public engagement completed and the plan nearing completion, City Council on the eleventh hour removed an area near the Corden Pharma manufacturing plant from the table for future housing, until there is no more heavy industry.

He pulled some 150 homes from the table under the plan, which has been in development for three years. This decision was made at the behest of Corden Pharma over concerns that its manufacturing operations would clash with potential future neighbors over light, noise and pollution.

Likewise, Boulder Municipal Airport users secured a last-minute addition to the plan to alleviate complaints from potential future residents. The council already receives many letters related to airport noise from neighboring property owners.

Read: Potential housing removed from plan after drugmaker pushback. Boulder Reports Lab

“I’m a proponent of housing, but I’m a proponent of housing done right,” Councilwoman Junie Joseph said. “We want more housing, but we want desirable housing.

Councilwoman Tara Winer said, “In a way, I feel like we’re protecting people by saying we’re not going to build housing here.”

Low-income renters, especially people of color, have historically been pushed against heavy industry and transportation by local zoning regulations like Boulder’s, and state and federal governments pushing highways in the heart of historic low-income neighborhoods, especially black people. The health disparities associated with such decisions are well documented.

Other council members pushed back, noting the severe housing shortage and its link to growing homelessness – itself a major contributor to illness and premature death.

“We have people living on the streets, in their cars, in pretty dangerous situations right now because we don’t have enough housing,” Councilwoman Nicole Speer said. “Not everyone has the ability to live in a nice neighborhood. People need roofs.

“To say that we are not going to have housing in an area excludes any design or creative solution that might alleviate our concerns,” said councilor Lauren Folkerts, architect. “It might be a new kind of life that we have elsewhere in Boulder, but the community engagement suggests that’s what’s being sought.”

The vote to remove housing near Corden Pharma was 6-3, with Councilors Speer, Folkerts and Rachel Friend dissenting. All three voted with the rest of the board to adopt the plan as a whole, with the recommended changes.

Boulder’s second sub-community plan is yet to be approved – planning board and council must agree on terms, and council has rejected a key planning board provision that would impose a hard cap on the number jobs allowed in East Boulder.

“In general, the city does not regulate the number of jobs”, said Kathleen King, a municipal planning official. “Employment fluctuates over time and post-COVID dynamics are really changing.

There are city goals to balance jobs and housing, and specific policies can be used to limit the number of jobs, like Boulder did by updating rules on where office space is located. . The East Boulder sub-community plan, for example, allows offices only in certain areas and restricted to specific floors of buildings.

Flatiron Business Park now accounts for 24% of all Boulder jobs. The plan strives to maintain that share over 20 years, King said.

County commissioners rescind camping ban – for now

People of a place can living on is on the streets of unincorporated Boulder County, in cars or otherwise. Two county commissioners have rejected a camping ban similar to those in Boulder and Longmont. Laws in those cities pushed people into county lands, officials argued.

the arrangement would subject people living in their cars to fines, similar (although more expensive) to parking tickets: up to $100 for the first offense, $200 for the second, and $300 for the third and subsequent offenses.

Such policies have been decried by civil rights activists, homelessness advocates and experts as well as people who are experiencing homelessness themselves, who say they criminalize poverty and people’s living conditions. having few other legal options. Research has shown that the laws undermine stability and trust in the system, disrupting lives and extending time spent without housing.

Fines and fees “can potentially affect a credit report“, Commissioner Marta Loachamin said, making it harder to get housing. “There are effects.”

Concerns also exist about the legality of the measure as drafted, which was framed to allow searches of tents or vehicles without a warrant, in direct violation of the constitutional right to privacy.

Lily: Boulder County commissioners reject camping ban. Daily camera

Proponents acknowledge that criminalizing homelessness is not a solution, but say some action is needed to allay concerns of homes and businesses as well as damage to county lands, usually in the form of litter and of waste water.

“That’s definitely not going to solve the problem,” Sheriff Joe Pelle said. “It’s just one tool among others to allow us to deal with a particular aspect that is problematic for our community. I have a constituency of people who live in homes and neighborhoods that are affected.

It’s really our only option other than just not regulating it and letting it happen.

A county camping ban is not dead yet. The commissioners can review the order after the reviews.

$3.1 million allocated to forest fire resilience, other council priorities

In the first adjustment of the 2022 budget, the city added more than $3 million to projects and programs the new city council directed staff to pursue. Assignments include:

$612,500 for housing and social services

  • $375,000 to rehabilitate existing municipal facilities into a “respite center for the homeless”
  • $40,000 for a down payment assistance pilot project for middle-income people
  • $70,000 for a 5-year strategic plan for inclusive housing
  • $7,500 for a survey on updating ADU rules
  • $120,000 for HOA Assessment Pilot Expansion

$503,900 for wildfires and disaster preparedness:

  • $250,000 to accelerate climate resilience work
  • $109,933 to hire wilderness staff for OSMP
  • $43,967 for wildfire home appraisals
  • $100,000 for forest firefighting equipment

The bulk of the expenditure ($2 million) is for the hiring of 22.5 full-time staff, including several in the Department of Housing and Human Services for activities such as homelessness outreach, response to crises and the prevention of evictions.

Soon a guaranteed income

The Council will also review a plan to provide cash assistance to low-income Boulderites. Staff have offered to spend federal COVID recovery dollars on a pilot project, which has fueled the proliferation of programs across the country.

Twenty-eight cities have launched guaranteed income projects, and 12 more are in the pipeline. Typically, recipients receive $500 per month for about two years. Times and amounts vary from city to city, as does who receives the funds.

Cambridge, Mass., gives money to “single babysitters” while Alexandria, Virginia, randomly selected households earning at least 50% of the area’s median income. Newark, New Jersey has gone a long way, offering assistance to anyone “facing housing insecurity.” (Mountain View, Calif., home of Google, was the stingiest among the staffing examples listed, allocating payments for only one year to very specific groups: “very low-income” families with children.)

A report from Stockton, California, one of the first US cities to implement guaranteed income, found increased employment levels, improved mental health, food security and housing stability and “an increased ability to set goals, consider new job opportunities, and take risks.” (for example, taking time off from current employment to pursue other options such as internships or vocational training) and meeting family needs associated with full-time caregiver work.

Boulder offered direct cash assistance in much smaller amounts, using a $100,000 grant from the Colorado Left Behind Workers Fund in 2020. $1,000 was awarded to 94 people to whom unemployment benefits and funds federal stimulus packages were not available; the results were not reported in the memos to the board.

If approved by the board – an early preview has garnered majority support – the money could start flowing to the Boulderites in early 2023.

Next week’s discussion will also include a discussion of Boulder’s budget and long-term financial outlook.

Also this week

— Shay’s Castle, @shayshinecastle

Help improve the Beat. Was there a perspective we missed or facts we didn’t consider? Email your thoughts to [email protected]

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“Wealthy people can do it. It could become prohibitively expensive for others” – welcome to FL’s new normal property insurance industry | Florida

Florida lawmakers ready to act on soaring property insurance rates could respond to claims of insurance fraud and successfully lure jittery reinsurance companies into Florida’s crippled market.

But one thing they can’t do is change the weather.

“Insurers believe that because of climate change, this is the new normal. They are seeing catastrophic and non-catastrophic weather events increasing in severity every year,” said Paul Handerhan, president of the Federal Reform Association. of Insurance, a national nonprofit advocacy organization based in Fort Lauderdale.

The consequences of climate change include not only catastrophic – and increasingly costly – weather such as hurricanes and wildfires, but also more everyday events such as storms that batter residential and commercial properties from wind and hail in a straight line.

Add to that rapid population growth in Florida, high demand for high-risk areas such as coastal communities, higher prices for construction and labor, and alleged abuse by contractors. that prompt policyholders to file inflated damage claims, and you have what one prominent insurance executive calls “total collapse of the entire Florida market.”

The actuarial way to respond to the new normal is to raise rates, cut coverage, or throw in the towel, as eight Florida property insurance companies have done since 2018. Just this week, three more asked state insurance regulators to approve a high rate. increases – up to 49% on policyholders not among the tens of thousands of people who have recently lost coverage due to non-renewals.

Over time, Handerhan said, property insurance coverage will become so expensive that only the richest of the rich can “afford to live in paradise.”

The impending problem

Job 1 for lawmakers meeting in a special session that begins Monday, May 23, Handerhan said, is to secure as much reinsurance coverage as possible for Florida’s remaining insurance companies by June 1, the start of the official hurricane season, in 13 days.

Reinsurers with access to vast capital guarantee primary insurance companies to cover payments in the event of catastrophic events that exceed the primary companies’ available funds. Without reinsurance, primary insurers cannot afford to provide coverage in high-risk areas — which applies to most of Florida.

“The most pressing and imminent problem is to solve the problem of reinsurance,” Handerhan, a 20-year-old property and casualty insurance executive, said in an interview Thursday.

“It has to be on the agenda and it has to be meaningful. They must provide comprehensive reforms to provide a sufficient supply of reinsurance capacity, so that these insurers are able to run their programs and have the reinsurance capacity they need to get through this hurricane season.

Handerhan said that means lawmakers must take billions of dollars from Florida’s Hurricane Catastrophe Fund. The so-called Cat Fund provides reinsurance coverage but likes to be stingy to keep a strong surplus in case Florida suffers another Hurricane Andrew (1992) or a season of back-to-back hurricanes like the series that hit Florida four times in 2004 (Charley, Frances, Ivan, Jeanne).

Citizens Property Insurance Corp., the state’s insurer of last resort, has more than doubled its insured volume in less than two years to absorb customers left behind when their insurers failed to renew their policies or ceased their activities.

This week, its board of governors authorized the spending of $400 million to buy $4.25 billion in reinsurance coverage. That’s almost double what he needed last year.

“This market is completely, 100% out of control,” Barry Gilway, president, CEO and executive director of Citizens, said at the board of governors meeting. “It all has to do with the total collapse of the overall Florida market, and that collapse continues.”

Gilway said the massive growth of the state’s insurer of last resort, caused by the massive decline in private coverage, has seriously spooked reinvestors. It would be “an incredible event” if Citizens were able to land even a substantial portion of the $4.25 billion in reinsurance capacity it is seeking, he said.

“We’re struggling, frankly, to get reinsurers interested, knowing this level of growth, not knowing when it’s going to stop and how far it’s going to go,” Gilway said. “We are struggling to find reinsurers willing to provide this level of capacity.”

Gilway said the insurance industry is watching closely to see “if anything relevant” comes out of next week’s special session.

“It will be a determining factor, I think, as to whether reinsurers somehow reverse their position and release their capacity in the market.”

“It’s going to get more expensive. Affluent people can do it. It could become prohibitive for others. It’s Florida.

Portions of this story appeared on the website of the Florida Phoenix, a nonprofit news organization dedicated to covering state government and Tallahassee politics. You can visit them by clicking here.

Falsetti, the little canillita who hacked a credit card algorithm and completed a millionaire scam


In a case that seems incredible, a canilleta who worked at a newsstand The slaughter discovered a algorithm create Credit card and so he succeeded steal over a million pesos after cheating large companies operating in Argentina.

is about Fernando Alberto Falsetti what will remain free by order of the judge of San Isidro Stephane Rossignoli, despite the fact that Vicente López’s prosecutor, Alejandro Musso, had requested his immediate arrest.

I also read: Argentinian Tinder scammer defends himself from prison: “I’ve never been aggressive with a woman”

One of the main annotations discovered by the investigators in the notebook of the canillita Fernando Falsetti, accused of fraud. (Photo: Police Vicente López)

The investigation began after a complaint was filed by the fraud control area of ​​a recognized organization pay television company. This presentation was made after several credit card holders ignored 169 transactions for the purchase of prepaid accounts and other miscellaneous services offered by the firm, carried out between the May 12, 2021 and September 27 of the same year.

Musso managed to determine that with the credit card numbers he created with his algorithm, the accused acquired prepaid services from different companies, then resell them to third parties.

“Given the number of scams and criminal mechanisms, we first assumed that there was a criminal behind it all. large criminal group. But as we continued to investigate, we discovered that the whole activity was in charge of a ‘Lone wolf’, a person from very low profile. said one of the judicial sources consulted.

Other entries found in the notebook of the newsagent Fernado Falsetti, accused of repeated fraud.  (Photo: Police Vicente López)
Other entries found in the notebook of the newsagent Fernado Falsetti, accused of repeated fraud. (Photo: Police Vicente López)

The newspaper seller, accused of having repeated scams, were able to be located by the researchers after analyzing, among other things, the IP addresses where the contracted services had been paid for.

To clarify the alleged fraud, the defendant should not have hacked any computer system and would not even have used the technology. On the contrary: each of his discoveries has been write by hand in a notebook striped leaves.

One of the forensic spokespersons explained that in order to carry out the scams, Falsetti “discovered how to identify numbers of cards from the same bank and their respective security codes. He did all this with his own algorithm which allowed compatible the data, and thus obtain credit cards activated for the purchase”.

Falsetti, the canillita who hacked a credit card algorithm and set up a millionaire scam

I also read: Villa Soldati: Three police officers stopped a man at a checkpoint and robbed him of $500,000

After reviewing the aforementioned notebook, Musso’s team of collaborators found on one of the pages the suspect had written: “WAY TO CHANGE NUMBERS” and, above a group of numbers, added: “The eighth and ninth digits change every 12 or 2 digits” and another series of explanations of the algorithm he had discovered to carry out the frauds.

Likewise, Falsetti had registered invoices services he had contracted illegally. In addition to the pay TV company, the justice has indications that the small newspaper seller also deceived other large companies who preferred not to file a complaint.

3 Ways Buy Now, Pay Later Can Boost Your Credit Score


In recent years, due to advancements in fintech, the credit ecosystem has undergone a massive transition. Today, there are many types of credit solutions available to you in the market. For example, you can now check CIBIL score by PAN card completely online, while accessing your credit report in minutes. Another innovative solution in this space is Buy Now, Pay Later (BNPL), a progressive solution that makes accessing credit much simpler and easier. This is primarily because BNPL solutions lack the strict eligibility criteria typically associated with credit instruments such as credit cards or loans. As a result, they are the preferred choice for the person new to credit.

In addition to access to credit, the BNPL allows customers to finalize their purchases without encumbering their savings. Choosing to pay in installments not only has short-term affordability benefits, but can also have long-term benefits for your credit score. Indeed, timely credit payments are known to boost your score. Additionally, BNPL is recognized as consumer credit and major credit bureaus like CIBIL include deferred repayment loans in their consumer credit reports. All of this indicates that BNPL provisions can be a smart way for you to not only establish your credit score, but also maintain it.

To find out how to get the most out of this financing solution and add value to your credit profile, read on.

Allows easy access to credit

If you are one of those people who have little or no prior experience with formal credit, you may not receive a CIBIL score. You can check it by doing a Free CIBIL Score Check via digital service providers like Bajaj Finserv and note whether you have an “NA” or “NH” score. With such a rating, it will be difficult to get loans or even get approved for a credit card. In cases where you get approved, you may not get a high limit or you may be offered an unfavorable interest rate. It’s not ideal and BNPL is a smarter alternative for accessing credit and building your score.

You will be able to benefit from BNPL offers at retailers, even without prior credit experience. By leveraging digital KYC, you can get quick approval and make purchases instantly, without dipping into your savings. In addition, BNPL’s target market is much broader, as it is accessible even to non-employees who are new to credit. Additionally, defaulting on credit card EMIs can cost you up to 48% interest, while it typically goes up to 24% with BNPL. This makes BNPL a better option for smaller purchases and one you can use to build your score regularly.

Make sure you make all payments in full and on time

BNPL payments are like all other EMI payments and the duration usually varies up to 90 days. So, when using the option at a retailer, make sure the EMI amount is something you can easily manage. One way to do this is to choose a longer duration. You may be allowed to choose between a short or a long tenor and to maximize affordability choose the latter. This way, you can make consistent payments throughout and steadily increase your credit score.

Note that your CIBIL score is based on 4 main factors, in which your payment history has a 30% weighting on the score. So, prioritize affordability when it comes to payments because defaults due to high amount of EMI are not worth the risk. In fact, failure to pay will have a negative effect on your score.

Diversifies your credit mix

A healthy credit mix always adds value to your credit profile. Having several forms of active credit and managing them effectively increases your CIBIL score as it accounts for 25% of the score. As such, using BNPL can be a smart option as these deals are short term and small in size. By including it in the mix and paying it off on time, you can easily boost your score.

These are the many ways in which BNPL serves as a viable tool to build your credit score, especially as an individual with a low credit score. Along with its affordable and transparent pricing model, the instant digital sign-up provisions make it a unique and easy-to-use model. Even with a low credit score or minimal credit history, you can use BNPL to make purchases, and this benefit has made it extremely popular with Gen Z and Millennials. Although you can use a card loan or take out a personal loan for major purchases, opting for BNPL is a prudent choice for small purchases.

Over time, as you make payments consistently, you can run a free CIBIL score check on Bajaj Finserv and notice changes in your score. Bajaj Finserv also offers a personalized CIBIL health report, which contains crucial information about your credit profile and status. Access it to see the impact of your credit behavior and track the impact of your finances on your score.

[Disclaimer: This article is a paid feature. ABP and/or ABP LIVE does not endorse/ subscribe to the views expressed herein. We shall not be in any manner be responsible and/or liable in any manner whatsoever to all that is stated in the said Article and/or also with regard to the views, opinions, announcements, declarations, affirmations, etc., stated/featured in the said Article. Accordingly, viewer discretion is strictly advised.]

Conning Releases 2022 State of Municipal Credit Report, Maintains Stable Outlook for State’s Credit Quality Despite Inflation and Rising Interest Rate Concerns


Interactive access to report data enables better understanding of metrics

  • Strong tax collections and unprecedented federal stimulus are benefiting states, though overspending could squeeze reserves and reduce recession preparedness.

  • Less favorable borrowing terms should also be monitored.

  • Florida, New Hampshire and Texas enter the top five in the rankings, bucking a historic trend toward western and mountain states.

  • Housing markets are strengthening in the West and South as Americans continue to migrate from the Northeast and Midwest — rural and suburban areas have done particularly well.

  • Interactive features provide a closer look at the report’s 13 metrics by state and region.

HARTFORD, Connecticut, May 19, 2022–(BUSINESS WIRE)–Conning, a global leader in investment management, today released its annual State of Municipal Credit Research Report. In this year’s report, Conning maintains a stable outlook on government credit quality even as the United States grapples with inflation and rising interest rates.

Top five ranked states

The Last Five States Ranked

1. Florida

46. ​​Kentucky


47. Mississippi

3.New Hampshire

48. West Virginia




50. Louisiana

“The recovery has not been uniform,” says Karel Citroen, Conning City Research Team Leader and lead author of the State of the States report. “Some states have benefited from economic and population growth, and neither has Florida. Conditions in other states like California and Hawaii have improved significantly in 2021 after initially being hit hard by the pandemic. Looking ahead , the focus will be on what the new work of – domestic dynamics means for tax collections and what states will do with surpluses, especially with increased volatility in financial markets and growing worries of a recession American in 2023.

The report analyzed 13 indicative measures of state credit health to calculate and assign state rankings, with No. 1 being the highest and No. 50 the lowest. In this year’s report, Conning also provides access to an interactive platform that includes an array of graphs and illustrations, analysis of each of the report’s parameters, a history of Conning’s overall ranking on the state of Statements through 2008 and a link to the company’s report. full report 2022.

States continued to benefit from the economic recovery from the effects of the pandemic

The state’s credit quality has recovered quickly from the effects of the pandemic, according to Conning, driven by the economic rebound and an unprecedented federal stimulus. Florida, New Hampshire and Texas broke into the top five positions in the state of the state report, but some western and mountain states continue to perform well and hold five of the 10 first global rankings.

Hawaii was the lowest-ranked state in the 2021 report, but its 11-spot improvement left Louisiana dropping a spot for last in the latest rankings. The five lowest-ranked states suffered from issues such as low variations in housing prices relative to other states, low reserves, high debt levels, low GDP, and weak personal income performance.

Tax revenue collected in 2021 increased by 22% compared to 2020. Alaska recorded the best growth in tax revenue, benefiting from the recovery in oil prices. All states have benefited from the unprecedented federal fiscal stimulus and the normalization of consumer spending on services. States that rely on recreation, travel and energy for tax revenue have done particularly well. Nevada and California recorded the strongest employment growth. Texas ranked fifth in job growth.

States with no personal income tax, such as Florida, Texas and Washington, have seen their labor force and employment increase. However, California, which has one of the highest personal income tax rates, also increased employment, likely due to its strong economic recovery.

Tennessee and New Hampshire posted the highest year-over-year GDP growth percentage, while Massachusetts and New York maintained their top positions in terms of GDP per capita. Idaho ranked first for population growth and personal income, with South Dakota and Florida rounding out the top three for personal income growth.

Economic activity

Housing markets have been particularly strong in Arizona and Utah, benefiting from migration from the Northeast and Midwest. States with the largest metropolitan areas, such as New York, California, Illinois, Texas, and Washington, performed well in terms of GDP per capita, which measures a state’s efficient use of its population.

Florida, the top-ranked state in the report, has both a large population and a large GDP, but is in the bottom third of the GDP per capita rankings. For a population that is the third largest in the nation, Florida is not as efficient as states like California and New York at producing an equivalent amount of goods and services, although this may be due to its large population. of retirees.

Florida also joined the top five in the house price index this year. Florida has long been a popular destination for retirees given its climate (both meteorological and fiscal) and may also now be a paradise for those who can work from anywhere.

Financial measures

The state’s extraordinary fiscal year 21 windfall is not expected to last. For example, Illinois would need to use most of its FY21 reserves in FY22 to balance its budget. New Jersey and Rhode Island also have very thin reserves compared to their budget. Structural imbalances will likely lead to lower reserves and less preparedness for recession.

Resource-rich states tend to run large surpluses during boom years, which can help cushion deficits when incomes decline, which is why Wyoming, North Dakota, New Mexico and West Virginia are at the top of the report’s ranking of reserves.

Strength in stock markets in 2021 has taken state pension funding ratios to their highest levels since the Great Recession, but that may not be sustainable as markets weaken. Conning has pointed out in the past how pension systems have put increasing pressure on a number of state budgets, as liabilities rise and returns have fallen in recent years, leading to higher annual contributions. Meanwhile, rising interest rates may also pose challenges for government borrowing needs: governments are unlikely to be able to borrow quickly and cheaply from capital markets or to solicit lending. assistance from the federal government as they did during the height of the pandemic.

About Municipal Credit Research and the Conning State of the States Report

Conning’s State of the States Report helps the firm’s investment professionals make more informed credit decisions and improve the relative value of client portfolios. Indicators on the state of states include measures of economic activity, such as income levels, housing prices, demographic changes, growth in tax revenue, growth in state gross domestic product, unemployment rates and job growth, as well as a state’s finances and overall business environment (i.e., ability to attract new business). The results for the 2022 edition are measured in real GDP to remove the effect of inflation and focus only on the output of a state’s economy, a change from last year’s report.


Conning (www.conning.com) is a leading investment management firm with approximately $203 billion in global assets under management as of March 31, 2022.* With a long history of serving the insurance industry, Conning supports institutional investors, including insurers and pension funds. plans, with investment solutions, risk modeling software and industry research. Founded in 1912, Conning has investment centers in Asia, Europe and North America.

* As of March 31, 2022, represents combined global assets under management for affiliates under Conning Holdings Limited (CHL) and Cathay Securities Investment Trust Co., Ltd. (SITE). SITE is a separate entity under Cathay Financial Holdings Co., Ltd which is the ultimate controlling parent of all Conning entities. The CHL CEO sits on SITE’s board of directors and helps oversee the company.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220519005316/en/


Myra Lee
+1 860 299 2278
[email protected]

Katrin Lieberwirth
+1 646 502 3548
[email protected]

A Gen-Z guide to improving financial health


Find out how good financial habits can improve your credit score – opening doors to achieving long-term financial goals

The latest TransUnion Consumer Pulse Survey found that 96% of Gen Z Filipinos (born between 1995 and 2004) believe access to credit and loan products is important to achieving their financial goals. However, only 29% said they have sufficient access to credit, and 50% of Gen Z Filipinos plan to apply for credit or refinance existing credit in the next year.

Access to credit is an important step in everyone’s financial journey. Effective access helps improve financial inclusion, where more people can use financial products and services that meet diverse needs.

With more banks and financial institutions willing to lend funds, these organizations determine an individual’s eligibility and creditworthiness using multiple inputs, including information provided by the applicant as well as accessing and assessing their credit score. Taking into account a person’s payment history, length of credit history, money owed, and credit mix, a “good” credit score could help secure a loan that will serve capital for a business, the funds to buy a car or a house, or the means to recover after an emergency.

In the Philippines, consumer attitudes towards credit are changing. The TransUnion survey also found that 40% of Filipinos believe in the importance of credit monitoring, and almost half (48%) believe their credit score would improve if companies leveraged non-standard information in part of the assessment of their credit score.

As the first international private credit bureau in the country, TransUnion was established in the Philippines in 2011, leveraging alternative data assets where traditional financial data is not available to provide a traditional credit score. Along with products and services that harness the power of information, TransUnion believes that improving consumer credit literacy and helping people develop good financial habits can help unlock more credit for Filipinos.

Here are some tips to help Gen Z Filipinos develop good credit scores and improve their financial health:

Build good credit early habits

With more Gen Z Filipinos entering the workforce, this creates more opportunities for them to participate in the formal financial system. Applying for a credit card is a good first step in establishing your credit history.

Apply for different types of credit

Successfully repaying various types of credit can make a good impression on lenders. This is considered one of the fastest ways to establish a credit score.

Avoid applying for multiple credit cards and loans the same time

Applying for too many credit cards or loans at once can signal a problem and be seen as an indicator of financial stress. Multiple requests and denials can even hurt your credit score.

Manage your minimum payments

Regularly paying above the monthly minimum is a good indicator of good credit management. Not only can credit balances be paid off faster, but going over the minimum can also help save money on interest payments.

Make your payments on time

Credit commitments, including utilities such as telecommunications bills, must be paid on time. As banks and financial institutions use credit history to make their lending decisions, proof of prompt payments can help increase your chances of getting a loan.

Credit is an important means of empowering consumers to achieve their financial goals. However, credit and loans are big responsibilities, so good financial habits are needed to manage them effectively. As more and more Gen Z Filipinos enter the workforce, financial services need to be made accessible to more Filipinos to lead a better life. To learn more about your financial health, request a TransUnion credit report today.

PIA ARELLANO has over 25 years of experience in banking, payment solutions, telecommunications and money transfer services. She was instrumental in establishing TransUnion as a risk management, data and information solutions partner for banks and financial institutions in the Philippines.

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Your bosses might have a file on you, and they might misinterpret it


For decades, much of the federal government’s security clearance process relied on techniques that emerged in the mid-20th century.

“It’s very textbook,” said Evan Lesser, president of ClearanceJobs, a website posting jobs, news and advice for positions that involve security clearances. “Driving in the car to meet people. It’s very outdated and time consuming.

A federal initiative launched in 2018 called Trusted Workforce 2.0 officially introduced semi-automated federal employee analytics that occurs near real-time. This program will allow the government to use artificial intelligence to subject employees who seek or already have security clearances to “continuous monitoring and evaluation” – essentially, continuous evaluation that constantly takes in information, throws red flags and includes self-reporting and human analysis.

“Can we build a system that verifies someone and continues to verify them and is aware of that person’s disposition as it exists in legal systems and public record systems on an ongoing basis?” said Chris Grijalva, senior technical director at Peraton, a firm that focuses on the government side of insider analysis. “And from that idea came the notion of continuous assessments.”

Those efforts had been used in government on a more ad hoc basis since the 1980s. But the 2018 announcement aimed to modernize government policies, which typically reassess employees every five or ten years. The motivation for adjusting policies and practices was, in part, the backlog of required investigations and the idea that circumstances and people change.

“That’s why it’s so imperative to keep people under some sort of constant, ever-changing surveillance process,” said Martha Louise Deutscher, author of the book “Screening the System: Exposing Security Clearance Dangers.” She added that “every day you will run the credit check, and every day you will run the criminal check – and the bank accounts, the marital status – and you will make sure that people don’t end up in these circumstances where they become a risk if they weren’t yesterday.

The first phase of the program, a transition period before full implementation, ended in the fall of 2021. In December, the US Government Accountability Office recommended that the effectiveness of the automation be evaluated (but not , you know, continuously).

Gutierrez named executive vice president and provost at McPherson College

Amanda Gutierrez

Amanda Gutierrez, executive vice president and provost of McPherson College.

Amanda Gutierrez has been named executive vice president and provost of McPherson College. She has worked at McPherson College for over 16 years. Her most recent role was as Vice President of Automotive Restoration, a position she has held since 2012.

Gutierrez began her college career in 1995 when she served as Director of Annual Giving. After a brief hiatus to start a family, she served on the board of trustees from 2006 to 2009. She returned to campus to lead the advancement team and quickly distinguished herself as a fundraiser in touch with key automotive industry partners. The position of Vice President for Automotive Restoration was created based on the potential she identified for student opportunities and industry support in the field.

“Under Amanda’s leadership, the Automotive Restoration Program has become a center of excellence in the industry with record enrollment, substantial fundraising increases, and a bold vision to elevate the academic experience,” said President Michael Schneider. “She will bring considerable experience and thoughtful insight to her new role and help lead growth initiatives for the entire campus.”

The position aligns with the objectives set out in the Community by Design strategic plan that calls for nurturing entrepreneurial faculty and developing engaging academic programs inspired by recent automotive restoration successes.

“With initiatives such as the Student Debt Project and new academic programs such as Health Sciences, McPherson College is poised for significant growth over the next few years and I am pleased to bring this I learned from the automotive restoration program to facilitate growth on campus,” Gutierrez says. “I enjoy the culture and community of our faculty and our campus community and look forward to working together as we chart a course for the future of the college.”

As executive vice president and provost, Gutierrez will provide administrative direction for academics, the Registrar’s Office, institutional compliance and research, and academic support services. She will oversee the Health Sciences and Automotive Restoration programs. As he transitions into his new role, Gutierrez is also leading the search for a new vice president of academic affairs. The new VPAA will replace Dr. Bruce Clary, who is retiring after 39 years with the college on July 1, 2022.

“I’ve worked closely with Bruce Clary for over a year and learned a lot from him,” Gutierrez said. “He was an inspirational leader for the faculty for many years and our academic programs have flourished under his leadership. Our work moving forward honors his legacy.

Gutierrez will continue to dedicate a portion of his time to working with the Automotive Restoration Program to ensure a smooth transition to new leadership over the next year.

According to a report, consumers aged 35 to 40 are the most financially healthy


NEW DELHI: Consumers aged 35-40 are the most financially healthy, while those under 25 are the worst off, according to a report by Paisabazaar, a digital marketplace for consumer credit .

Over the past six years, over 2.7 million consumers have accessed a free credit score and report on the Paisabazaar platform. Analyzing data from its large consumer base, Paisabazaar has launched the second edition of its Insights report “Making India Credit Fit”.

According to the report, only 28% of consumers under 25 have a credit score above 750, generally considered the benchmark for a strong credit score. On the other hand, 42% of consumers between the ages of 35 and 40 have a score above 750. The main reason behind this, according to Paisabazaar, could be that the need to access credit for life goals like purchasing of a house is most common at this stage of life.

About 75% of new credit score consumers come from Tier 2 and 3 cities

Showing a clear trend of increasing credit awareness in the country, the report also showed a surge in the number of consumers from Tier 2 and Tier 3 cities checking their free credit score from the Paisabazaar platform. According to the report, in 2016, only 34% of consumers who checked their free credit score on the Paisabazaar platform were from outside the top metros. Currently, over 75% of new Paisabazaar consumers who check their credit score are from Tier 2 and Tier 3 cities and towns.

“Conversations with customers made us realize that large sections needed to deepen their understanding of credit scoring. Simply having free access to their credit report was not enough. Language was a barrier, especially beyond the metros. Providing a jargon-free credit report in the language of their choice has been a great catalyst for better credit awareness,” said Radhika Binani, Product Manager, Paisabazaar.

However, Subway consumers continue to be healthier, with almost 43% possessing a credit score above 750. On the other hand, approximately 36% of non-Subway Paisabazaar customers have a rating of 750 or more.

Regular monitoring of key credit health score

According to Paisabazaar’s report, continuous credit score monitoring over a period of time through its platform has helped consumers work towards a strong credit score and enabled them to access credit. According to the Paisabazaar report, more than 45% of consumers, who checked their credit score through its platform, subscribed to at least one credit product within 6 months.

The report also revealed that more than 52 lakh Paisabazaar consumers have significantly increased their credit score through regular monitoring and responsible credit behavior. Also, more than 65 lakh consumers, who checked their free credit score from its platform and had DPD (days overdue) in their report, have cleared their debt in the last 4 years.

“Like your personal health, your credit health also depends on taking the right steps. While knowing and monitoring your score is the first step towards accessing credit, it is also crucial, especially for those with low scores, to understand what went wrong for them and take corrective action. to improve and strengthen their credit score. Paisabazaar is focused on being a catalyst for credit adjustment in India,” added Radhika Binani.

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Is Suncor on the wrong track with its latest bold move?


VSLean energy advocates would probably be happier if the world could eliminate carbon fuels from the energy landscape overnight. It’s just not possible, and the transition to fuels like oil and natural gas will likely take decades, which means oil producers like Suncor Energy (NYSE:SU) will still be able to produce reliable cash flow for years to come. But how they use that money will be an increasingly important topic for investors to watch. Suncor, for its part, is starting to cut its bets.

Not a simple affair

Suncor operates what amounts to oil mines. Simplifying things greatly, he digs up the oil-rich earth and then processes it to extract the oil. Oil sands assets are expensive to build, but once operational they tend to have long lives and fairly low operating costs. On top of this business, Suncor has layered a chemical and refining operation which, under normal circumstances, helps to even out high-level performance. It is quite a reliable and stable company, considering that it operates in an industry prone to volatile, commodity-driven price fluctuations.

Image source: Getty Images.

Like other energy companies, however, Suncor can see the writing on the wall. Clean energy will continue to grow in importance as the world seeks to move away from carbon fuels. So, while an “all of the above” approach is still underway, it has begun to invest outside of its oil business. It’s a logical approach that began in 2002 when Suncor partnered with Enbridge on a first renewable energy project. It has since built eight wind farms. In addition to this investment, the company has also worked on carbon capture and storage, renewable fuels and hydrogen, among others.

Gear switch

In early April, however, Suncor announced it was selling its solar and wind assets. This is part of a broader business simplification plan that involves the sale of some oil assets. The goal is to focus on what Suncor does best rather than trying to do too many things at once. He intends to focus on renewable fuels and hydrogen in the “clean energy” space, as the two share some similarities with the oil sector.

At first glance, this move looks like a solid plane. No investor wants a company that is pulled in so many directions that it can’t really focus on anything. And by focusing on just a few areas, Suncor can put more money into the investments it chooses to make. So he can grow bigger faster in the key niches where he wants to lead.

It’s not the same approach taken by companies like TotalEnergies, PBand Shell. These companies, admittedly much larger entities, are spreading their bets much more liberally and in fact highlighting solar and wind as key growth opportunities. This more dispersed approach has the advantage of allowing the integrated giants to stick their fingers in so many pies that something is likely to work in the long run. Suncor’s approach, perhaps necessitated by its small size, forces management to choose winning technologies, a much riskier proposition.

While Suncor still has a strong energy business and plenty of time to pivot if weight loss doesn’t go as planned, it could end up wasting valuable time. Plus, there’s no reason he can’t leave the heavy lifting to others, simply choosing to provide cash for minority stakes in wind and solar projects.

To be fair, the American energy giants Chevron and ExxonMobil both take a similar approach, choosing complementary clean energy investments rather than projects such as large solar and wind farm developments. So it’s hard to say that Suncor is making a big mistake. However, for investors who favor safety and diversification, Suncor’s change in business probably deserves careful consideration.

A more targeted bet

When it comes to the energy sector, investors increasingly need to think about the environment of today and the environment of tomorrow. Although carbon fuels will remain important for years to come, it makes perfect sense to start thinking about the transition now. For investors who don’t know which technology is going to be the “oil killer”, European names like TotalEnergies, BP and Shell will probably be a better breeding ground. That said, if you think the transition is likely to be gradual and include fuels similar to oil and natural gas, then Exxon, Chevron and now Suncor would be reasonable alternatives. The problem here is that $50 billion market capitalization Suncor doesn’t have the same resources as $300 billion-plus giants like Exxon or Chevron to quickly shift gears if things don’t go the way foreseen.

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Film distribution study aims to explore self-regulation for competitive landscape, says CCI chief

The Competition Commission is conducting a market study on film distribution in the country with the broader intention of exploring the possibility of a self-regulatory mechanism within the industry to ensure a competitive landscape.

Separately, the antitrust watchdog conducted a study to understand the scenario, where large institutional shareholders hold minority stakes in a number of companies operating in the same industry and competing with each other.

A market study on film distribution has been commissioned to better understand various aspects of the state of competition and concerns over anti-competitive practices in the film distribution chain, said the chairman of India’s Competition Commission (CCI), Ashok Kumar Gupta, to PTI in an interview.

Read also | Indian cinema and its claim to international fame

The study also fits in the context of digitization and OTT (Over The Top) platforms which are becoming key factors in the cinema space.

The watchdog, which monitors unfair business practices in the marketplace, has received cases related to the film industry from time to time.

To get a better understanding of the “construction and dynamics of the market”, CCI commissioned the study and “the intention is also to explore whether there may be a mechanism for self-regulation within the industry to ensure a competitive landscape,” Gupta said.

In the film industry, there are essentially three key players: producers, distributors and exhibitors.

“The study is an attempt to understand the role of different federations and associations in the industry in India and the horizontal and vertical arrangements that exist between market players,” the CCI chief said.

According to him, new challenges have arisen with the digitization of cinema and the use of technology.

“OTTs and other platforms are becoming important channels for content distribution. The study aims to highlight the impact of these developments on the ecosystem in India,” he said, adding that “the study is complete and CCI will now review the report and decide accordingly”.

He noted that the aim was to gain visibility in the markets with major institutional investors, assess common ownership trends and patterns in various sectors in India, and the underlying incentives and motivations of institutional investors behind these investments.

“Given that a significant portion of combination filings come from institutional investors, the idea was also to see if, in the spirit of ease of doing business, the competition assessment could be accelerated.

“This required understanding the rights granted to institutional investors and their impact on the strategic and operational aspects of the activities of companies in the same sector. The investment community engaged with us and also shared their views on the issue of scrutiny and notification, especially when an investor’s investment is in competing companies,” Gupta said.

Lately, CCI has published market research on the e-commerce, pharmaceutical and telecom sectors.

Such studies are done for application and advocacy purposes, and also help to uncover new parameters of competition.

The telecommunications market study highlighted the importance of big tech companies’ data governance structures and privacy at the center of competition law, the ICC said in a speech in March.

Police: Check for identity theft if you used a credit/debit card at Millbrook McDonald’s


Post :


Shytavious Davis – Elmore County Jail Photo

Millbrook Police say anyone who has used a credit or debit card at McDonald’s in the town in recent days should check for identity theft.

It’s because of an identity theft investigation that police say involves 20-year-old Shytavious Davis of Montgomery, who they say is an employee of the restaurant.

According to the police, on May 7, one person reported that someone used their debit card information to make purchases at various businesses without their knowledge or approval. Police say the person told them she used her debit card at this McDonald’s drive-thru window.

According to police, surveillance video showed Davis took photos of the debit card before returning it to the person.

On May 12, Davis was arrested on one count of impersonation and taken to the Elmore County Jail.

“Anyone who was able to visit our local McDonald’s on or around May 6and and used a debit or credit card to make a purchase, we encourage you to check your account for any unauthorized purchases that may have occurred. If so, please contact the police department and report the violation. This case remains active as we want to ensure we have no additional victims,” Millbrook Police Chief PK Johnson said in a statement.

The intersection of data and lending


The nature of lending is always looking for strategic advantage. How can fraud be identified more effectively, underwriting decisions made more accurately, or universal targets expanded more opportunistically than competitors?

To help answer these questions, data has been the backbone of credit institutions for decades. As the potential of data in this space grows with new technological capabilities, the opportunities for lenders to leverage this information to better serve existing customers and attract new audiences also increase.

As more and more lenders seek strategic market advantages to outpace their competitors, there is growing spotlight on how these organizations can leverage consumer-authorized data. This type of customer data allows lending institutions to access intuitively important financial services data, such as verification of transaction data, rental history, and utility payment records. By helping lending institutions learn more about potential customers when they apply, these consumer-authorized data sources help expand their pool of applicants who have historically been excluded from traditional financial services.

Much of our financial health relies on our credit data, but at least 45 million American adults are classified as non-assessable credit. why is this the case? Traditional credit scores capture only a subset of financial behaviors that may not accurately represent consumer creditworthiness, especially for consumers who cannot or do not use credit conventionally. Therefore, when individuals are classified as invisible credit or light credit, they are unable to easily access essential financial support without having to jump through additional hurdles, such as having to pay higher rates or fees for services such as a car loan.

Young consumers new to credit are a prime example of how a lack of credit history does not mean a higher associated risk for lenders. Currently, 80% of 18-19 year olds and 40% of 20-24 year olds are not graded or credited. This is largely because Gen Z and Millennial consumers often start their credit journey and face a “cold start” problem. Essentially, even if these young consumers did nothing wrong to negatively impact their creditworthiness, in the eyes of the credit bureaus, they simply did nothing or did well enough.

Immigrants are another major audience that faces a “cold start” problem with credit when entering the United States. Even though they have worked their whole lives to develop their creditworthiness in their former home country, they are instantly demoted and classified as invisible credit. when they enter the United States because their credit score cannot be automatically transferred. The majority of these people are often highly educated and have steady streams of income, but still have no way of proving they are worth the perceived risk to lenders, further underscoring the need for integrate alternative data to mark more creditworthy consumers. .

Lenders are already on board with the idea of ​​alternative data to fill these gaps – 89% of lenders agree that alternative data allows them to expand their potential pool of candidates and 74% say they currently use other data in their process. One of the fastest growing areas for this type of information growth is cash flow underwriting, where consumers offer access to transaction data from their checking and savings accounts instead or in addition to traditional credit bureau reports.

Consumers are also increasingly willing to use these data sources and are more than willing to provide alternative financial details. In reality, 80% of consumers would share financial information with lenders if it meant increasing their chances of approval or better interest rates.

In addition to providing more flexibility in the process of applying for financial services, consumers appreciate how alternative consumer-authorized data allows them to regain some control, which is another long-standing issue in is about how organizations use consumer data. In a Finicity survey90% of respondents said they believe they have the right to better understand or control the personal financial information used by lenders.

Overall, it is clear that both lenders and consumers want opportunities for universal expansion and financial inclusion for excluded credit. Alternative consumer-authorized data offers both parties the opportunity to achieve these goals and drive systemic change in the way consumers access financial services.

At this point, it’s fair to predict that the use of this data is inevitable. We see younger generations already embracing the use of consumer-authorized data, so lenders would do well to recognize the trend ahead of them and jump on board before they fall behind the game. will only continue to evolve over the next few years as new technologies and innovations in the world of fintech are introduced to support this vision.

About the Author

Sarah Davies, Director of Data and Analytics, Nova Credit. Sarah leads credit risk and analytics for Nova Credit. She has over 20 years of experience in the financial services industry, as a leader and innovator in analytics and decision science. Prior to joining Nova Credit, she was Senior Vice President of Products, Analytics and Research at VantageScore Solutions, where she led the development of VantageScore credit scoring models.

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Credit repair companies in the crosshairs: Bill would help regulate industry


CHICAGO — The multi-billion dollar credit repair industry is largely unregulated. However, WGN Investigates has found a local nonprofit that thinks that should change.

In Illinois, legislation is being drafted to address what some see as industry shortcomings. In exchange for an upfront payment and a recurring monthly fee, some companies promise to boost a person’s credit score. But that bump may not last, and customers keep paying.

“I would say [credit repair companies] market most aggressively in communities of color where there is a lack of trust in financial institutions and the credit system,” said Ricki Lowitz, co-CEO of Working Credit, a Chicago-based nonprofit.

Take Mary Joyce Nunn, for example. The West Side resident needed a car, but his credit rating was low. For some people, this can prevent them from getting housing and employment. In Nunn’s case, that meant she couldn’t get a loan to buy the car she needed. So she sought help from a local credit repair company.

In all, she paid the company more than $2,000. But she says her credit rating has barely moved. Lowitz says Nunn’s experience is not unique.

“I think sometimes we have to pay for the lessons but, man, that was an expensive lesson that I had to pay for,” Nunn said.

In Illinois, there has been a push to hold some credit repair companies accountable.

The Illinois attorney general’s office sued a company, for example, for allegedly charging “illegal upfront fees” and “misrepresenting the cost of its services.”

But Lowitz and other consumer advocates think more can be done.

His group is among those working to introduce legislation that would allow consumers to withhold payment from a credit repair company until it “provides evidence that an item has detached and stayed away”. [a person’s credit report] for six months.”

WGN Investigates contacted the credit repair company that Nunn hired. They declined to comment for this story.

Sempra declares a common dividend

SAN DIEGO, May 12, 2022 /PRNewswire/ — Sempra (NYSE: SRE) (BMV: SRE) today announced that its Board of Directors has declared a $1.145 per share quarterly dividend on the Company’s common stock, which is payable July 15, 2022to common shareholders of record at the close of business on July 7, 2022.

About Sempra

Sempra’s mission is to be North America leading energy infrastructure company. The Sempra family of companies has 20,000 talented employees who deliver energy with determination to nearly 40 million consumers. With over $72 billion of the total balance sheet at the end of 2021, the San Diegoowns one of the largest energy networks in the North America help some of the world’s major economies switch to cleaner energy sources. The company helps advance the global energy transition through electrification and decarbonization in the markets it serves, including California, Texas, Mexico and the LNG export market. Sempra is consistently recognized as a leader in sustainable business practices and for its long-standing commitment to building a high-performing culture focused on safety, workforce development and training, diversity and inclusion . Sempra is the only North American utility company to be listed on the Dow Jones Sustainability World Index and was also named one of the “World’s Most Admired Companies” for 2022 by Fortune magazine. For more information about Sempra, please visit the Sempra website at sempra.com and on Twitter @Sempra.

This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties and are not guarantees. . Future results may differ materially from those expressed in the forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We undertake no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors.

In this press release, forward-looking statements may be identified by words such as “believes”, “expects”, “intends”, “anticipates”, “plans”, “estimates”, “projects ”, “plans”, “should”, “could”, “would”, “should”, “confident”, “may”, “may”, “potential”, “possible”, “proposed”, “in progress” , “under construction”, “in development”, “opportunity”, “target”, “outlook”, “maintain”, “continue”, “aim”, “goal”, “commit” or similar expressions, or when we discuss our directions, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations.

Factors, among others, that could cause actual results and events to differ materially from those described in the forward-looking statements include the risks and uncertainties relating to: California forest fires, including the risks that we may be held liable for damages regardless of fault and that we may not be able to recover all or a substantial part of the costs from insurance, the fire fund of forest established by California Assembly Bill 1054, in customer tariffs or a combination thereof; decisions, investigations, regulations, issuances or revocations of permits and other authorizations, franchise renewals and other actions by (i) the California Public Utilities Commission (CPUC), Comisión Reguladora de Energía, US Department of Energy, US Federal Energy Regulatory Commission, public utility commission Texasand other regulatory and governmental agencies and (ii) states, counties, cities and other jurisdictions in the United States, Mexico and other countries in which we operate; the success of business development efforts, construction projects and acquisitions and divestitures, including risks relating to (i) the ability to make a final investment decision, (ii) the completion of construction projects or other transactions on time and on budget, (iii) the ability to realize the anticipated benefits of any of these efforts if successful, and (iv) obtaining the consent or approval of partners or other third parties, including government entities and regulators; the resolution of civil and criminal disputes, regulatory investigations, investigations and proceedings, arbitrations and real estate disputes, including those related to the natural gas leak at the Aliso natural gas storage facility Canyon of the Southern California Gas Company (SoCalGas); changes in laws, including changes to certain from Mexico laws and regulations that impact the licensing of energy suppliers, energy contract tariffs, the electricity industry in general and the ability to import, export, transmit and store hydrocarbons; cybersecurity threats, including from state and state-sponsored actors, to the energy network, storage and pipeline infrastructure, information and systems used to operate our business, and the confidentiality of our proprietary information and personal information of our customers and employees, including ransomware attacks on our systems and the systems of third-party vendors and other parties with whom we do business, all of which have become more pronounced due to recent geopolitical events and other uncertainties, such as the war in Ukraine; the failure of foreign governments and public entities to honor their contracts and commitments; actions by credit rating agencies to lower our credit ratings or place such ratings on a negative outlook and our ability to borrow on favorable terms and meet our debt service obligations; the impact of energy and climate policies, legislation, rulemaking and disclosures, and related targets set and actions taken by companies in our industry, including actions to reduce or eliminate reliance on natural gas generally and any deterioration or increased uncertainty in the policy or regulatory environment for California natural gas distribution companies and the risk of non-recovery of blocked assets; the pace of development and adoption of new technologies in the energy sector, including those designed to support the energy and climate objectives of governments and private parties, and our ability to integrate them in a timely and economic in our activities; weather conditions, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, information system failures or other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires or expose us to liability for property damage or bodily injury, fines and penalties, some of which may not be covered by insurance, may be disputed by insurers or may otherwise not be recoverable through mechanisms regulations or may affect our ability to obtain satisfactory levels of affordable insurance; the availability of electricity and natural gas and natural gas storage capacity, including disruptions caused by transmission system failures or limitations on the withdrawal of natural gas from storage facilities; the impact of the COVID-19 pandemic, including potential vaccination mandates, on capital projects, regulatory approvals and execution of our operations; the impact at San Diego Gas & Electric Company (SDG&E) on competitive rates and customer reliability due to growth in distributed and local power generation, including retail outbound load resulting from the transfer of customers to Community Choice Aggregation and Direct Access, and the risk of non-recovery of escrow assets and contractual obligations; the ability of Oncor Electric Delivery Company LLC (Oncor) to eliminate or reduce its quarterly dividends due to regulatory and governance requirements and commitments, including through the actions of Oncor’s independent directors or a director minority member; exchange rate, inflation and interest rate and commodity price volatility, including inflationary pressures in the United States, and our ability to effectively hedge such risks and, with respect to the inflation and interest rates, the impact on SDG&E’s and SoCalGas’ cost of capital and the affordability of customer rates; changes in tax and trade policies, laws and regulations, including tariffs, revisions to international trade agreements and sanctions, such as those that have been imposed and may be imposed in the future under of the war in Ukraine, which may increase our costs, reduce our competitiveness, impact our ability to do business with certain current or potential counterparties, or impair our ability to resolve commercial disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control.

These risks and uncertainties are discussed in more detail in the reports that Sempra has filed with the United States Securities and Exchange Commission (SEC). These reports are available free of charge through the EDGAR system on the SEC’s website, www.sec.gov, and on Sempra’s website, www.sempra.com. Investors should not place undue reliance on forward-looking statements.

Sempra Infrastructure, Sempra Texas, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, SAPI de CV (IEnova) are not the same companies as California utilities, SDG&E or SoCalGas, and Sempra Infrastructure, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC.

Sempra logo (PRNewsfoto/Sempra Energy)



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Capital One Spark Cash Select Business Card Review (2022)

In the interest of full disclosure, OMAAT earns a referral bonus for anyone approved through some of the links below. These are the best publicly available deals (conditions apply) we’ve found for each product or service. The opinions expressed here are those of the author alone, and not those of the bank, credit card issuer, airline, hotel chain or product manufacturer/service provider, and have not been reviewed, approved or otherwise endorsed by any of these entities. Please see our Advertiser Policy for more details on our partners, and thank you for your support!

Link: Apply now for the Capital One Spark Cash Select

The Capital One Spark Cash Select is arguably Capital One’s best no-annual-fee business credit card. While it’s not a card super credit card users should consider, the card offers value with the right type of consumer. In this article, I wanted to take a closer look at everything you need to know about this card.

Capital One Spark Cash Select Basics for May 2022

While you’ll find more comprehensive business credit cards, the Capital One Spark Cash Select is a pretty solid option with no annual fee. The card offers a huge welcome bonus, no foreign transaction fees, and a pretty decent return on daily spending.

Spark Cash Select $500 Cash Back Bonus

The Capital One Spark Cash Select offers new cardholders a $500 cash bonus after spending $4,500 within the first three months of account opening. It’s a great bonus for a card with no annual fee, and it’s also a better bonus than what we’ve seen on the card in the past.

Spend the cashback you earn on the card however you like

Spark Cash Select Eligibility Requirements

You are eligible for the welcome bonus on Capital One Spark Cash Select if you have not had this specific card before. You are eligible for the card (including the bonus) if you have had another Capital One Spark product in the past.

Capital One has few other consistent restrictions when it comes to getting approved for cards.

Spark Cash Select $0 Annual Fee

The Capital One Spark Cash Select has no annual fee, so it’s pretty awesome to have a rewards card that has no annual fee. You can also add additional users to the card at no additional cost.

Spark Cash Select 1.5% Cash Back

Capital One Spark Cash Select offers 1.5% cash back on every purchase, everywhere, with no limits or category restrictions. Now, let me note that among cash back cards, I generally consider 2% cash back to be the gold standard. However, there are limited card options with no annual fees or foreign transaction fees, while offering an otherwise solid return.

Spark Cash Select No foreign transaction fees

Capital One Spark Cash Select has no foreign transaction fees, and I think that’s worth pointing out. Most cash back business cards with no annual fee have a foreign transaction fee, which sets the card apart. Other cards sometimes have foreign transaction fees of 3% or more, quickly eliminating any rewards you would have otherwise earned.

Use your card abroad with no foreign transaction fees

Convert Cash Back to Capital One Miles

There’s an interesting twist to Capital One Spark Cash Select, for those looking to earn travel rewards rather than cash back:

This is quite an exciting opportunity, as it means this no-annual-fee card also potentially earns 1.5x the transferable points with no foreign transaction fees.

Transfer Capital One miles to Emirates Skywards

Is Capital One Spark Cash Select worth it?

The Capital One Spark Cash Select is a great card for a certain type of business, but it’s not for everyone.

If you have a small business and don’t want to pay an annual fee for a card, don’t spend as much on cards, and/or make frequent international purchases, then Spark Cash Select is a great option. You won’t find a more rewarding card with no annual fee and no foreign transaction fees.

Likewise, if you have another Capital One card that earns Venture or Spark miles, some might appreciate the opportunity to really earn 1.5 times the miles per dollar spent on a card with no annual fee with no foreign transaction fees. .

Who shouldn’t consider Capital One Spark Cash Select? Well, if your business spends big bucks or you’re happy to pay annual fees for big rewards, there are definitely other cards to consider. Let’s discuss some of these options.

Tip: Ask for Capital One Spark Cash Plus

If you like the general idea of ​​the Capital One Spark Cash Select, but want a slightly more rewarding card, consider the Capital One Spark Cash Plus (balance) instead:

  • The card has an annual fee of $150
  • Card offers 2% cash back on all purchases, 0.5% more than Spark Cash Select
  • The card also has no foreign transaction fees
  • The card offers an annual cash bonus of $200 if you spend $200,000 or more on the card in an anniversary year, recouping more than the annual fee.
  • The card offers a much bigger bonus, up to $1,000 cashback

If you spend a lot on business cards and want to earn cashback, then the Capital One Spark Cash Plus is the obvious choice. It’s a card that I have, and on which I put most of my business expenses.

Best Alternative Business Cards with No Annual Fee

If you really want to stick with a business card with no annual fee, there are two other cards worth considering:

The problem? As you can see, the generous rewards are capped at the first $50,000 spent each calendar year. On top of that, the cards have foreign transaction fees, so they are only worth using for USD purchases.

Earn 2x transferable points with the Amex Blue Business Plus


The Capital One Spark Cash Select is a no-annual-fee business card worth knowing about. The card offers 1.5% cash back on all purchases with no foreign transaction fees, and the card also offers a generous welcome bonus. If you have the card in conjunction with something like Capital One Venture X, the rewards can also potentially be converted into miles.

Personally, I still prefer the Capital One Spark Cash Plus. Although it has an annual fee of $150, the card offers 2% cash back on all purchases, even bigger bonuses and potential spending bonuses as well. It’s an unbeatable cash back business card.

If you want to know more about the Capital One Spark Cash Select or if you want to apply, follow this link.

The following links will direct you to the rates and fees for the American Express cards mentioned. These include: The Blue Business® Plus credit card from American Express (Rates and Fees) and American Express® Blue Business Cash Card (Rates and Fees).

New credit score models and credit reports are front and center for federal agencies


While the topic of credit reporting and credit scoring remains a focus for several federal agencies, a major move by the Federal Housing Finance Agency (FHFA), stemming from a 2019 ruling final rule regarding credit score modeling, is looming. The FHFA’s new scoring models may require Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSEs), which have used the classic FICO credit score since 2003, to consider several new credit models and alternative data. Depending on what the FHFA decides, this could have huge regulatory implications for lenders, mortgage insurers, mortgage originators, mortgage-backed securities, credit risk transfer investors and technology providers, as well as consumers.

In early March, the FHFA organized a credit score model listening session on this topic. The various scoring model ideas included as part of the discussion were prompted by a directive from Congress in Section 310 of the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 and the FHFA has been working on this issue for several years. During debate on this bill, it was discussed whether rent, utility and cell phone payments were properly accounted for and whether additional data was needed. Notably, FICO has several new credit scoring models that would include additional information, but also has underline that their original model also takes this information into account. Credit bureaus have also developed VantageScore a credit scoring model.

The FHFA announced a four-phase process for considering a new model and four options:

(1) Single Score: GSEs require delivery of a single score of either FICO 9 or VantageScore 3.0, if available, on each loan;

(2) Require both: GSEs require delivery of both scores, if available, for each loan;

(3) Lender choice: GSEs would allow lenders to lend with either score, when available, with certain constraints such as the use of a score or the another for a defined period of time; and

(4) Waterfall: GSEs would deliver multiple scores through a waterfall approach that establishes a primary credit score and a secondary credit score.

After the listening session, the FHFA is expected to make decisions on next steps by the end of the year, then begin a process that could take about two years or more to make the changes. This has been an ongoing project for several years.

Other corresponding agency and administrative activity

In recent years, consumer groups, during discussions regarding the new FHFA scoring model, argued that medical debt should either have less weight or be eliminated altogether. In particular, some models, including FICO 9 and VantageScore 3.0, reduce medical debt score and remove paid debt. As we recently reported, Equifax, Experian and TransUnion have announced major policy changes regarding medical debt reporting and the Consumer Financial Protection Bureau (CFPB) has been active in this area. In testimony before the House Financial Services Committee on April 26, CFPB Director Rohit Chopra said, regarding medical debt on credit reports, that he was not sure “s ‘it is appropriate to include this information at all’, which has raised questions about whether the agency will take action in this area.

The White House also argued for one-time medical debt treatment for credit reports.

Additionally, student loan debt remains at the top of the administration’s agenda and could also be part of any discussion in the coming months as credit modeling and scores are overhauled. More recently, on April 19, the US Department of Education (DOE) announced additional actions it provides to take on student loans, hinting that there are more to come.

Impact on lenders

During FHFA’s March listening session, groups representing various industries provided comments on the potential impact of sweeping new actions in this area. Several groups representing financial institutions and others in the financial services industry questioned whether incomplete credit portfolios would lead to detrimental outcomes for consumers, while others also pointed to the benefits of modeling flexibility. Other participants also discussed the financial burdens associated with radical changes. Additionally, some benefits of using alternative data continue to be part of this discussion, as well as how best to help credit unseen consumers.

The work of the FHFA, combined with other CFPB and DOE activities, as well as the White House directive on medical debt, which could lead to major changes in the scope of the consumer credit portfolio, is something something that could have a major impact on lending and security and soundness.

As agencies continue to make client-impacting decisions in this area, Brownstein will continue to be at the forefront of this activity.


Atlanta, Georgia Apartment Requirements (Income, Pets, etc.) | Lifewnikk


Brookside Apartments


One of the biggest hurdles people face when haunting an apartment in Georgia is the income requirements. The majority of apartments you come across in Atlanta specifically require tenants to earn at least 2.5 times the monthly rent. For example, if you are trying to rent an apartment that costs $1,500 per month, the required monthly income would be $3,750 per month, which is quite high. It’s very rare that you come across an apartment here that doesn’t focus primarily on its income.

Rental history

You would think that his past wouldn’t play such a large role in renting an apartment, but it does. If you have evictions or outstanding balances with previous landlords, don’t even think about applying for an apartment here as they will turn you down. Next to a person’s income, a person’s history is another factor that rental agents pay close attention to. No matter how old or new the eviction/balance is, when your credit is pulled by these apartment complexes, they pay close attention to who you owe and that could play a huge role in whether you are refused or not. That being said, it is important to check your rental history before attempting to apply for an apartment.

Credit report

There are a few states where you can live where money talks, Georgia is unfortunately not one of them. When you are ready to apply, your credit history is also very important. Rental agents not only review your rental history, but they also pull your credit report. Do you have credit cards? A car note? Maybe unpaid collections? These are all things they are looking for. Your overall credit history is important because they want to see what your habits are and if you are unable to pay any of your other bills, in their eyes, how could you pay rent?


In conclusion, the overall requirements for apartments in Atlanta are quite high. So keep an eye on your income, rental history and overall credit report, if you’re interested in renting an apartment here.

Open Hearth Hits $1 Million Fundraising Campaign Goal for New Phoenixville Headquarters – Daily Local

PHOENIXVILLE — Open Hearth Inc. celebrated reaching its $1 million fundraising campaign goal with a toast to key campaign contributors and partners.

The purpose of the “Home Is Where the Hearth Is” fundraising campaign was to raise funds for the renovation of the association’s new headquarters in Phoenixville. The building, located at 701 S. Main St., will house Open Hearth’s community development programs and initiatives, with the goal of fostering a stronger, healthier community for generations to come.

A substantial portion of the campaign focus was contributed by the Phoenixville Community Health Foundation, a longtime partner of Open Hearth. Foundation CEO Tamela Luce shared that the Foundation “is proud to provide $300,000 for renovations to their new building.” She continued: “We had confidence in the board and staff to raise the remaining funds and we congratulate them for reaching this milestone. We look forward to having them in the borough and continuing to help our friends and neighbors find housing and financial stability.

Open Hearth looks forward to hosting a ribbon-cutting ceremony and open house in the fall when interior renovations are complete and all exterior work is complete.

Open Hearth CEO Kelly Raggazino, center, toasts the top campaign contributors and partners who have helped the organization achieve its goal. (Submitted photo – Nettie Wolfe Silva)

In 2019, the Open Hearth Board of Directors recognized that the organization had outgrown its current location. As the need for services increased, additional staff were added. While looking for a new rental space, Open Hearth got in touch with two Phoenixville-area residents, Janice and Paul Hartmann. When the Hartmanns learned of the organization’s needs, they decided to make the most generous donation – a 4,000 square foot building located on one acre of property in downtown Phoenixville.

“The new building will be a place of hope for our customers and partners as they will be welcomed into a place that is both accessible and inspiring,” said Kelly Raggazino, CEO of Open Hearth. “Our new home will reflect the high standards of service set by Open Hearth staff, funders and associates.”

The building needed repairs to bring it up to today’s codes and standards. Funds raised through the “Home Is Where the Hearth Is” campaign were used to carry out these essential repairs.

Located in Phoenixville, the new property offers easy access and parking, increased foot traffic and proximity to many partner agencies. In the new location, the staff will be on one floor, whereas it is currently spread over two floors and 45 steps. More meeting space and room to grow are just a few of the added benefits of the new space.

In addition to the Phoenixville Community Health Foundation, other major campaign supporters include the Chester County Department of Community Development, The McLean Contributionship, Univest and the First Cornerstone Foundation.

Those interested in learning more about the new headquarters can visit www.openhearthinc.org/2021-capital-campaign/

5 reasons to choose a personal loan over a credit card


online shopping
(© Prostock-studio – stock.adobe.com)

There comes a time in life when you need to borrow money quickly. Maybe you need to pay for emergency medical treatment, your car has broken down, or you need to do something important.

At this point, you may prefer to use your credit card to get the money you need and settle your balances later. Swiping your credit card to pay for any expense can be easy, but it’s not always the smartest choice. Credit card debt is expensive and can take a long time to pay off.

If you’re facing an expense that you can’t cover with your savings, consider taking out a personal loan. In some situations, personal loans have a few advantages that make them a better choice than credit cards.

Offers a low interest rate

Credit cards are famous for charge high interest rates on carried forward balances. In April 2022, the average credit card interest rate was 16.36%. What does this number mean? For example, if you have a credit card with a balance of $2,000 and an interest rate of 16.36%, you will be charged interest of $327.20 each year. That’s over $27 a month!

But with a personal loan, lenders usually offer low interest rates. Hence, making it a much better option for you to borrow. And that’s especially true for applicants with a good credit score.

The higher the credit score, the lower the interest rate. Indeed, a high credit rating is an indicator of low risk. Plus, it tells lenders that you’re more likely to repay the loan on time. So if you’re looking to borrow money and want to avoid high interest rates, a personal loan is the way to go, and having a strong credit rating will qualify you for the best rates.

Avoid major damage to credit rating

The lender conducts a credit check when you apply for a personal loan, and it can remain on your credit report for up to two years. Your credit score could drop by 5 to 10 points.

You should expect this hit if you take out a personal loan. On the other hand, if you accumulate too much balance on your credit card, it could put your credit utilization rate in an unfortunate place and damage your credit score more than a thorough investigation could cause.

If you choose between the two, a personal loan is preferable. Imagine what could happen if you couldn’t make your credit card payments on time. Your interest rate would skyrocket, you would start racking up late fees, and your credit rating would plummet.

A thorough investigation is not something to fear if you take out a personal loan. However, the damage caused by maxing out your credit cards is worse.

Fixed monthly payments

Another advantage of taking out a personal loan is its predictability. You know exactly how much you borrow and your monthly payments with a personal loan. Plus, fixed monthly payments make it easier to budget for your loan. Since personal loans have a fixed repayment schedule, you can also prepay your debt without penalty.

Unlike credit card debt, which can fluctuate with changes in your interest rate or spending habits, personal loans give you the peace of mind of knowing exactly when your debt will be paid off. Ready to get a personal loan? To verify creditninja.com to find the best option for yourself.

Wide range of uses

Unlike credit cards, where money is limited to what you have in your line of credit, personal loans are usually granted in a lump sum. So you can use it all at once or in increments, depending on your needs.

You can use a personal loan for a variety of purposes, from consolidating debt to financing a major purchase.

Help build credit

Subscribing to a personal loan requires making regular monthly payments on the capital and interest on the loan. Lenders report your payment record to the credit bureaus.

If you make quick and regular payments on a personal loan, it will increase your credit score. Payment history is one of the most crucial factors in determining your credit score. It represents 35% of your FICO score.

So if you’re looking to improve your credit score, a personal loan can be a useful tool. Simply make your payments on time and in full each month.


A personal loan allows you to borrow money for any reason. Need to consolidate your debts? Make improvements at home? Cover an emergency expense? A personal loan can help you. So before you swipe your credit card, consider a personal loan. The benefits may surprise you.

Tiffany Wagner story

This week’s student loan refinance rate: May 10, 2022


Personal Finance Insider writes about products, strategies, and advice to help you make smart decisions with your money. We may receive a small commission from our partners, such as American Express, but our reports and recommendations are always independent and objective. Terms apply to offers listed on this page. Read our editorial standards.

The average interest rate on refinanced undergraduate student loans rose last week, while graduate loan refinance rates fell, according to Credible. Student loan rates are low overall, so you might want to consider refinancing your student loan now before it goes up.

Interest rates on private student loans are linked to a variable indexed rate and the borrowers’ credit ratings. Mark Kantrowitz, President of PrivateStudentLoans.guru, indicates that lenders may be waiting to see where federal loan interest rates start in July. This could help businesses decide what interest rates to charge so they can beat Parent PLUS loans on price, for example.

Kantrowitz thinks rates will start to rise in June.

Variable 5-Year Student Loan Refinance Rates

The average 5-year variable refinanced undergraduate student loan rate is 5.07%, which is a substantial increase of 0.95% from two weeks ago. In November, this rate was much lower, at 2.85%.

Five-year variable graduate rates have fallen significantly over the past two weeks. Currently, the average rate is 2.57%, compared to 3.71% the previous week.

Fixed 10-Year Student Loan Refinance Rates

Refinance rates on 10-year fixed undergraduate student loans last week rose slightly from two weeks ago, with rates rising 0.10%. Undergraduate loan rates have increased by 1.30% since last May.

Graduate loans were down from two weeks ago, falling 0.05%. They are up 1.11% from six months ago.

Student loan interest rates by credit score


credit score

has a major effect on the rate you will get when you refinance. Usually, the better your credit score, the better the rate you will receive. Below, we’ve listed the 10-year fixed student loan rates by credit score:

How to refinance a student loan?

Start the process by researching different companies and checking your terms with each lender. Review the details of each offer and determine the rate and term that works best for you. You must refinance through a private student lender because you cannot refinance a student loan through the federal government.

Once you have chosen a company, you will provide documents that verify your finances and identity. Once the lender gives you their final offer, you will need to agree to the terms and sign on the dotted line. Then your new lender will pay off your existing loan and you’ll be locked into a new loan.

Should you refinance your student loan?

Refinancing your student loan can lower your interest rate, allow you to switch from a variable rate loan to a fixed rate loan, or change the term of your loan. Changing the length of your term can allow you to spread out payments over a longer period for smaller monthly payments, even though you’ll pay more interest overall.

Be careful before refinancing a federal student loan. Even if you are able to get a lower rate when you refinance a federal loan, you will lose the main protections that come with federal loans. For example, you will not be eligible for the COVID-19-related student loan payment pause, currently in place until August 31, 2022, and federal student loan relief programs like Service Loan Forgiveness. public.

You also won’t be able to take advantage of certain repayment options like income-contingent repayment plans, which take into account your specific income and family size when determining monthly payments. In some cases, very low-income borrowers can even pay as little as $0 per month.

Do you need a co-signer to refinance a student loan?

It depends on the lender. Some lenders require one, while others recommend one to increase your chances of getting a loan. You can also get a better rate with a co-signer.

Generally, to get a loan without a co-signer, you’ll need a strong credit score, a reliable payment history, and a stable source of income.

Philippines Presidential Election: Live Updates

Ferdinand Marcos Jr. is running for president 36 years after Filipinos overthrew his father, Ferdinand E. Marcos, in a popular uprising.CreditCredit…Lauren Decicca/Getty Images

MANILA — Ferdinand Marcos Jr., the ousted dictator’s son and namesake, edged closer to a triumph in the Philippines’ presidential election on Monday as early election data shared by the government put him ahead of Leni Robredo, his closest rival.

With about 84% of the election results counted in a preliminary tally as of early Tuesday Manila time, Marcos has secured more than 27 million votes, according to ABS-CBN, a local broadcaster with access to official data. He won more than twice as many votes as his closest rival, Leni Robredo, the vice-president. It put him on the path to the biggest margin of victory in a presidential race in the Philippines since the 1980s, when Corazon Aquino was elected following the ousting of Mr Marcos’ father during the uprising. people power” of millions of Filipinos. .

But by the time the polls closed at 7 p.m., reports of alarming irregularities had been reported across the country: malfunctioning voting machines, an insufficient number of back-up machines, complaints that voters had not been registered on the registration lists and that their ballot papers had been falsified. .

Mr. Marcos’ lead was so strong that it seemed extremely unlikely that Ms. Robredo could prevail. However, in a speech to his supporters on Monday evening, as official voting days approached, he appealed for patience.

“It’s not over yet,” he said. “Let us watch our votes. And if I’m lucky, I hope for your endless help and trust.

A victory for Mr. Marcos would likely lead to a further regression of democracy in the Philippines, where democratic institutions have been wiped out or weakened under Mr. Duterte. Impunity could prevail – Mr. Marcos, known by his childhood nickname “Bongbong”, indicated that he would protect Mr. Duterte from an investigation by the International Criminal Court for a violent war on drugs which claimed thousands of victims.

“Personally, I’m devastated,” said Sol Iglesias, assistant professor of political science at the University of the Philippines Diliman. “It is a dash of hopes that there will be a reversal of the rollback to authoritarian rule that was initiated by President Duterte.”

Spontaneous celebrations erupted outside Mr. Marcos’ campaign headquarters on EDSA Boulevard, where millions of Filipinos had gathered to peacefully protest his father more than three decades ago. Supporters sang a martial law anthem, waved the Philippine flag and chanted “Bongbong, Sara!”

The official count begins at 1 p.m. Tuesday local time, and a winner is expected to be announced in the coming days. It remains to be seen whether Mr. Marcos will claim victory before this process is complete.

Human rights activists, intellectuals and hundreds of thousands of young people had opposed Mr. Marcos’s candidacy for the presidency, fearing that democracy would regress even further under his rule. For many victims of former Mr. Marcos’ brutal rule, his son’s victory amounts to an erasure of their own experiences, as his family has spent years distorting their shared memory of the atrocities committed during the war. martial law.

Prior to the election, all opinion polls had shown Mr Marcos would win the presidency and do so by the widest margin in three decades – an extraordinary comeback for a family forced out of the country in 1986.

Mr Marcos came on a platform of unity, saying he would “help Filipinos up again”. But many of his policy proposals remain thin, and he has accepted few media interviews. He appealed to a public that has become disillusioned with the country’s brand of democracy and its failure to meet the basic needs of its citizens. Poverty is widespread, inequalities have widened and corruption remains endemic.

Mr. Marcos served as Vice Governor, Governor and Congressman in Ilocos Norte, the family stronghold, for most of the period between the late 1980s and 2010. That year he entered the political scene national when he was elected senator.

Suze Orman worries about this disturbing credit card trend


Image source: Getty Images

Could this worrying trend mean bad things for consumers?

Key points

  • Suze Orman worries about the increase in unpaid credit card debt.
  • It is currently a particularly difficult time for owing money on credit cards.
  • Orman has some tips on what to do if you’re in debt, including a balance transfer.

Suze Orman is a personal finance expert who shares her opinion on many money matters. Recently, she became concerned about a specific credit card trend. She also offered some advice for those affected by the troubling patterns of credit card use that worries her.

This credit card trend is concerning

In March this year, Suze Orman said she was worried about an increase in unpaid credit card bills. Specifically, she pointed out that in the last quarter of 2021, the largest quarterly increase in unpaid bills occurred since the New York Federal Reserve began measuring this data.

Discussing his concerns about this, Orman noted that the increase in debt came after a period when many households had managed to reduce their bills. During the COVID-19 shutdowns, spending options were limited, and stimulus checks offered extra money to many so people could pay their bills. That trend has started to reverse, however, and now card balances have been rising rapidly.

Orman isn’t just worried about people charging more and not paying back. She also warned that credit card debt could be more expensive than usual.

“Right now could be a particularly tough time to take on credit card debt,” she said. recent rise in the rate of inflation. Once the Fed starts doing this, credit card issuers are likely to respond by increasing the interest rate they charge on outstanding balances. And this rate is already very high: the average rate is over 16%. %.”

What should you do if you have credit card debt

Orman is right to warn that rising credit card debt could be a big problem, especially as card interest rates rise. If more consumers face high credit card bills, it could affect their ability to save and spend in the future. This can affect both individual household finances and the economy as a whole.

The good news is that she has some advice for those with a balance who could be affected by these high interest rates. Specifically, Orman advises those currently in credit card debt to avoid spending on “wants” rather than needs until your debt is exhausted. She also suggests taking on side jobs to get you out of debt.

For those currently facing very high interest rates, there is also another potential strategy that could help reduce debt repayment costs. This is to take a balance transfer. Orman suggests this for those with a FICO® score of 700 or higher who may qualify for a card with a long 0% APR on transferred balances.

If you can take this approach, you can lower your high rate to 0% for a period of time so that your entire payment goes towards reducing your card’s principal balance rather than high interest rates.

If you can follow these steps, I hope you can get out of debt soon so that you are no longer one of the many Americans contributing to the rising credit card balances that troubled Orman so much.

cibil: Needy Cheat Duo with Better Cibil Score Bait | Pune News

Pune: Wakad Police are looking for two men for deceiving three needy people out of Rs 1.03 lakh since January under the guise of improving their credit score (CIBIL) and then using their documents to avail loans.
Goalkeeper Ankush Gajanan Polkam (50) from Thergaon filed a complaint with the police on Friday. Wakad Police Station Deputy Inspector Jitendra Girnar told TOI: “We have identified the two men. They are residents of Pune and we will arrest them soon.”
Girnar said: “The plaintiff’s wife, Lalita, needed Rs5 lakh to sort out some domestic issues. She learned of the existence of the two men who give loans to people in need. The women then got their phone numbers from a mutual friend and contacted one of them. The person promised to help.
“The two men requested documents such as PAN, Aadhaar cards and bank details from Lalita,” Girnar said, adding, “Lalita gave them all the documents. The two men studied the documents and informed her that her credit score was too bad and that she could improve it with their help. They told her she could improve her credit rating by taking out a loan in her name and they would pay the monthly EMIs,” Girnar said.
“They took her to an electronics showroom and bought a mobile phone worth Rs 40,000. After buying the phone on the EMIs using Lalita’s documents, the duo blocked her phone number on their smartphones and did not pay the EMIs,” he said.
“We have received two further complaints against the duo from two other women. The duo cheated these two women alike from Rs40,000 and Rs23,000,” he said.
“We expect more complaints from people in need. Police said the duo also deceived more than 30 people by promising them loans ranging from Rs2 lakh to Rs5 lakh,” he said.
The Credit Information Bureau (India) Ltd, popularly known as CIBIL, is an RBI authorized credit bureau. It offers CIBIL scores and CIBIL reports for individuals. A CIBIL score is generated by the bureau after reviewing an individual’s detailed credit information. A CIBIL score is a three-digit number between 300 and 900, with 300 being the lowest, that represents an individual’s creditworthiness.

Mortgage Rates Daily Trend Down This Week | May 7 & 8, 2022

After a week of swinging rates, the average 30-year fixed-rate mortgage rate ended the week at 5.939%, 0.17 percentage points lower than last weekend’s rate.

Mortgage rates are expected to continue to rise, but at what pace is unclear. Borrowers planning to buy a home this year should work on their credit to improve their chances of qualifying for a lower rate.

  • The final rate on a 30-year fixed rate mortgage is 5.939%. ⇓
  • The final rate on a 15-year fixed rate mortgage is 4.976%. ⇓
  • The last rate on a 5/1 ARM is 4.375%. ⇓
  • The latest rate on a 7/1 ARM is 4.542%. ⇓
  • The latest rate on an ARM 10/1 is 4.687%. ⇓

Money’s daily mortgage rates are a national average and reflect what a borrower with a 20% down payment and a credit score of 700 — roughly the national average score — could pay if he or she applied for a home loan. right now. Each day’s rates are based on the average rate that 8,000 lenders offered applicants the previous business day. Freddie Mac weekly rates will generally be lower since they measure the rates offered to borrowers with higher credit ratings. Your individual rate will vary depending on your location, lender and financial details.

Are you looking for a loan? Check out Money’s lists of top mortgage lenders and top refinance lenders.

Today’s 30-Year Fixed Rate Mortgage Rates

  • The 30-year rate is 5.939%.
  • It’s a day offold by 0.16 percentage points.
  • It’s a month increase by 0.319 percentage points.

The long payback period and fixed interest rate of a 30-year mortgage results in lower monthly payments that won’t change over the life of the loan. The trade-off is that total borrowing costs will be higher compared to a short-term loan because you’ll be paying a higher interest rate for a longer period.

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Average mortgage rates

Data based on US mortgages closed May 5, 2022

Type of loan May 5 Last week Switch
15-year fixed conventional 4.98% 4.87% 0.11%
30-year fixed conventional 5.94% 6.01% 0.07%
ARM rate 7/1 4.54% 4.53% 0.01%
ARM rate 10/1 4.69% 4.6% 0.09%

Your actual rate may vary

Today’s 15-Year Fixed Rate Mortgage Rates

  • The 15-year rate is 4.976%.
  • It’s a day offold of 0.095 percentage points.
  • It’s a month offold by 0.055 percentage points.

A 15 year fixed rate mortgage will have a lower interest rate than a 30 year mortgage. Because you’ll be paying this lower rate for half the time, your overall borrowing costs will be lower than an equivalent 30-year long-term loan. However, it is not such an economical option on a monthly basis. You have to repay the loan in less time, so your monthly payments will be a little higher than on a 30-year loan.

Use a mortgage calculator to determine which option is best for you.

The latest rates of adjustable rate mortgages

  • The last rate on a 5/1 ARM is 4.375%. ⇓
  • The latest rate on a 7/1 ARM is 4.542%. ⇓
  • The latest rate on an ARM 10/1 is 4.687%. ⇓

An adjustable rate mortgage will start out with a low fixed interest rate for an introductory period. After the fixed rate period ends, the rate becomes variable and resets periodically based on market conditions. For example, a 5/1 ARM will have a fixed rate for five years that will adjust each year once it becomes variable.

Some borrowers are attracted to ARMs because the introductory rate tends to be lower than other types of loans. The potential downside is that the rate could increase significantly after it begins to adjust.

The Latest VA, FHA, and Jumbo Loan Rates

The average rates for FHA, VA, and jumbo loans are:

  • The rate on a 30-year FHA mortgage is 5.585%. ⇓
  • The rate for a 30-year VA mortgage is 5.486%. ⇓
  • The rate for a 30-year jumbo mortgage is 5.184%. ⇓

The latest mortgage refinance rates

The average refinance rates for 30-year loans, 15-year loans and ARMs are:

  • The refinance rate on a 30-year fixed rate refinance is 6.262%. ⇓
  • The refinance rate on a 15-year fixed rate refinance is 5.215%. ⇓
  • The rollover rate on a 5/1 ARM is 4.695%. ⇓
  • The refinance rate on a 7/1 ARM is 4.882%. ⇓
  • The rollover rate on a 10/1 ARM is 5.193%. ⇓
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Average Mortgage Refinance Rates

Data based on US mortgages closed May 5, 2022

Type of loan May 5 Last week Switch
15-year fixed conventional 5.22% 5.03% 0.19%
30-year fixed conventional 6.26% 6.21% 0.05%
ARM rate 7/1 4.88% 4.57% 0.31%
ARM rate 10/1 5.19% 4.65% 0.54%

Your actual rate may vary

Where are mortgage rates going this year?

Mortgage rates have fallen through 2020. Millions of homeowners have responded to low mortgage rates by refinancing existing loans and taking out new ones. Many people bought homes they might not have been able to afford if rates were higher. In January 2021, rates briefly fell to lowest levels on record, but rose slightly for the rest of the year.

Looking ahead, experts believe that interest rates will rise further in 2022, but also modestly. Factors that could affect rates include continued economic improvement and further labor market gains. The Federal Reserve also began to scale back its purchases of mortgage-backed securities and raised the federal funds rate for the first time in March to combat rising inflation. The Fed has signaled that six more hikes are likely this year.

While mortgage rates are likely to rise, experts say the increase won’t happen overnight and it won’t be a dramatic jump. Rates are expected to remain near historic lows throughout the first half of the year, rising slightly later in the year. Even with rising rates, it will still be a good time to finance a new home or refinance a mortgage.

Factors that influence mortgage rates include:

  • The Federal Reserve. The Fed acted quickly when the pandemic hit the United States in March 2020. The Fed announced its intention to keep money flowing in the economy by lowering the Federal Fund short-term interest rate between 0% and 0.25%, which is also low as you go. The central bank also pledged to buy mortgage-backed securities and treasury bills, supporting the housing finance market, but began to scale back those purchases in November.
  • The 10-year Treasury bond. Mortgage rates keep pace with government 10-year Treasury bond yields. Yields first fell below 1% in March 2020 and have since risen. On average, there is typically a 1.8 point “spread” between Treasury yields and benchmark mortgage rates.
  • The wider economy. Unemployment rates and changes in gross domestic product are important indicators of the overall health of the economy. When employment and GDP growth are weak, it means the economy is weak, which can lower interest rates. Thanks to the pandemic, unemployment levels reached historic highs early last year and have yet to recover. GDP has also taken a hit, and although it has rebounded somewhat, there is still plenty of room for improvement.

Tips for getting the lowest possible mortgage rate

There is no universal mortgage rate that all borrowers receive. Qualifying for the lowest mortgage rates takes some work and will depend on both personal financial factors and market conditions.

Check your credit score and your credit report. Mistakes or other red flags can lower your credit score. Borrowers with the highest credit scores are the ones who will get the best rates, so it’s essential to check your credit report before you begin the home hunting process. Taking steps to correct mistakes will help increase your score. If you have high credit card balances, paying them off can also give you a quick boost.

Save money for a large down payment. This will lower your loan-to-value ratio, which is the share of the house price that the lender has to finance. A lower LTV usually translates to a lower mortgage rate. Lenders also like to see money that has been saved in an account for at least 60 days. It tells the lender that you have the money to finance the home purchase.

Shop around for the best rate. Don’t settle for the first interest rate a lender offers you. Check with at least three different lenders to see who offers the lowest interest rate. Also consider different types of lenders, such as credit unions and online lenders in addition to traditional banks.

Also, take the time to learn about the different types of loans. Although the 30-year fixed rate mortgage is the most common type of mortgage, consider a shorter-term loan such as a 15-year mortgage or an adjustable rate mortgage. These types of loans often come with a lower rate than a conventional 30-year mortgage. Compare the costs of all to see which best suits your needs and financial situation. Government loans — such as those backed by the Federal Housing Authority, Department of Veterans Affairs, and Department of Agriculture — may be more affordable options for those who qualify.

Finally, lock in your rate. Locking in your rate once you’ve found the right rate, the right loan product, and the right lender will help ensure that your mortgage rate doesn’t increase before the loan is closed.

Our mortgage rate methodology

Money’s Daily Mortgage Rates show the average rate offered by more than 8,000 lenders across the United States. The most recent rates are available. Today we are posting rates for Thursday, May 5, 2022. Our rates reflect what a typical borrower with a credit score of 700 might expect to pay for a home loan right now. These rates were offered to people depositing 20% ​​deposit and include discount points.

More money :

The late Boba Fett actor Jeremy Bulloch’s Star Wars collection raises thousands for charity

An auction of Star Wars memorabilia belonging to the late Boba Fett actor Jeremy Bulloch has raised a major donation for a Parkinson’s research charity.

the star wars memorabilia collection of the late actor Jeremy Bulloch, who portrayed the original physical form of bounty hunter Boba Fett in films The Empire Strikes Back and return of the jedi, was auctioned on May 4 – aka Star Wars Day – in part to raise money for Parkinson’s research.

Bulloch died in 2020 aged 75 due to complications from Parkinson’s disease and, according to a BBC News report, a “substantial” part of the £155,000 (nearly $200,000) raised went to Parkinson’s UK, a UK research and support charity. Auctioneer Andrew Stowe said the collection was “remarkable and completely unique” and that there were “bids pouring in from all corners of the globe” for it. There were unreleased film reels and scripts in a “loved and appreciated” collection.

RELATED: Disney+ Sets Boba Fett Special for Star Wars Day

“Jeremy was clearly an avid collector,” Stowe added. “He didn’t just star in the movies, he enjoyed them as much as any other fan. The love for Jeremy Bulloch and Star Wars was clear to all. There were so many offers, we had to running at half speed, making the auction a total of nine hours, but it was a day to remember and a real honor to host such an amazing auction Jeremy was known for his caring nature and I really hope that this sale made him proud.

Maureen Walker, who married Bulloch in 1970, has thanked a family friend who “patiently spent hours cataloging the memories”. About her late husband, she shared: “In the 20 or so years that Jeremy attended conventions related to his role as Boba Fett in the Star Wars films, he acquired a large collection of memorabilia. He also received fan-made items as well as numerous works of art, including some from well-known artists. Jeremy loved and appreciated each item and displayed them proudly in his office.

RELATED: Star Wars Fans Are Convinced Boba Fett’s Tem Morrison Was In The Obi-Wan Kenobi Trailer

Bulloch became very active at conventions after the Special Edition was released in 1997, the 20th anniversary of A new hopeis the first. He also made an appearance in 2005 Revenge of the Sith as Captain Colton, pilot of Senator Bail Organa’s corvette ship. In addition to his work with star warsthe actor had a prolific film and television career, appearing in Bond films The Spy Who Loved Me and Just for your eyes as well as an episode of Law and order: United Kingdomamong many others.

Walker also said the family wanted to pass the articles on to fans for their enjoyment and concluded with an important phrase for Star Wars fans of all generations: “May the Force be with you.”

Source: BBC

the book of boba fett tusken rider and commander 66

Boba Fett’s book featured a more emotional death scene than Order 66

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Finding bad credit with a low interest rate is everyone’s first priority. After all, while having bad credit, who would like to pay extra interest on emergency loans. So are you looking for a bad credit loan with a low interest rate? Want to know who to turn to if you need an emergency loan? Lucky for you, you’ve come to the right place! In this article, we are going to discuss the top 3 companies offering bad credit loans on flexible terms.

With advancements in digital technology, lending has become easier than ever with the growing number of online lenders. However, with the increasing options come the technicalities to be aware of in order to get the most out of a bad credit loan.

Online lenders must ensure that borrowers will be able to repay the loan on time. To get a rough estimate of this, they analyze your credit score to gauge your financial performance. As a firm credit inquiry lowers the credit rating, many people try to avoid this. So what if a credit check is not possible and a loan must be taken out at all costs? The answer is short and simple; search for a loan without a credit check. Gone are the days when a good credit score was the necessary condition for taking out a loan. You can now find several online lenders offering loans for bad credit without the need for a credit check.

The best thing about the online loan is that it not only helps you get emergency funds but also boosts your credit score. If you repay the loan on time, you can improve your credit score. Besides, you can also avail different financial services such as debt relief and credit repair.

After extensive research, we have selected and reviewed the top 3 bad credit lenders in America for the year 2022. These lenders are rated positively by their customers and our surveys have revealed them to be the best in their field.

Top 3 Best Bad Credit Lenders in America

In this article, we have briefly discussed the 3 best no credit check lenders in 2022. Starting from their detailed descriptions for a quick summary of their key features and ending with the pros and cons of dealing with them, we have tried to put it all in one word. So without further ado, let’s go!

  1. MoneyMutual: the best in all aspects

  2. FundsJoy: The Fastest Bad Credit Loan Provider

  3. BadCreditLoans: Best No Credit Check Lender

Whenever we talk about bad loans, MoneyMutual is the first name that comes to mind. With over a decade of experience in this industry, they have helped over 2 million people by providing emergency loans and various financial services. One of the main reasons for their growing popularity is that they do not require a full credit check from loan applicants.

MoneyMutual: It is completely free to submit the application and receive a loan on MoneyMutual, their profit only comes from the lender on their website. One important thing to remember is that MoneyMutual only serves as a link between borrowers and lenders; therefore, they do not guarantee you a loan offer. It is up to the lenders to decide whether they want to deal with you or not. Therefore, whatever your requirements, be sure to discuss them in detail with the lender so that they can provide you with a loan offer accordingly.


The main features of MoneyMutual are:

  1. Serves as a bridge between lenders and borrowers

  2. Full credit checks are not required

  3. The application form and the loan process are fully online

  4. Short term loans of up to $5,000 can be obtained

  5. Detailed information is provided on both parties so that they can decide whether or not to proceed with the transaction


  1. Has been continuously ranked as the best bad credit lender for the past few years

  2. Reputable organization with excellent customer service

  3. Short application process that only takes a few minutes to complete

  4. Transfer of funds is provided within 24 hours

The inconvenients

Doesn’t work in a few states like New York

Client experience

As evidenced by MoneyMutual’s consistent positive rating, customers love the services they provide. Their fast application process, instant approvals, and fast fund transfer are some of the many features their customers love.

=> Visit the official MoneyMutual website now for more information!

FundsJoy: One of the fastest and most reliable emergency loan providers in 2022 is FundsJoy. It is a relatively new company, but many people have started using it as a referral lending platform whenever the need arises. Their short and easy application process is their main highlight feature and is appreciated by their clients.


The main features of FundsJoy are:

  1. Loans up to $5000 can be borrowed

  2. Application form that only takes 5 minutes to complete


  1. Automated software for processing requests

  2. The application form can be filled on all types of gadgets

  3. Fast processing of requests is ensured by electronic signatures

The inconvenients

  1. Not as famous as other lenders such as MoneyMutual

Client experience

Customers report that compared to other lending websites, FundsJoy’s designed application form is quick and short. The user interface is perfectly designed to ensure that it is understandable by all types of users. Due to the flexibility of the electronic signature, the request is quickly approved and the transfer of funds is ensured within 24 hours.

=> Visit the official FundsJoy website now for more information!

BadCreditLoans is the third most popular lending platform among people with bad credit scores. Much like MoneyMutual, they provide free services to borrowers and connect them to a large network of lenders, each offering loans on varying terms.

Since people with bad credit scores cannot afford to have a firm credit check, BadCreditLoans does not require them to have one. Hence, it is easier for such people to get cash when needed.

The lenders on this platform are independent and have the power to design the loan offers themselves. Therefore, be sure to negotiate with the lender to customize the deal to suit your needs.

This company provides detailed information about lenders and borrowers so that both parties can decide whether or not to deal with each other.


The following points will give you an overview of the main features of BadCreditLoans:

  1. Provides detailed information on lenders and borrowers

  2. Company-standard encryption technology protects your personal data

  3. Free Services

  4. Negotiation with lenders is allowed after completing the application form


  1. Free services for lenders

  2. Analyzing the credibility of a lender is easy thanks to the detailed information provided by the platform

  3. Credit requirements are not high

  4. Loans of $500 to $5,000 can be borrowed

  5. It is possible to compare the loan offers of several lenders

The inconvenients

  1. Only people with good credit scores can get huge loans

Client experience

Like everything in our lives, we don’t want a complicated application form to apply for a loan. BadCreditLoans understands this! Customers love the short and easy application form that only takes a few minutes to complete. If you are looking for a no credit check loan, BadCreditLoans is your place to go!

=> Visit the official BadCreditLoans website now for more information!

We hope that after reading our review of the best bad credit lenders, you now have an idea of ​​where to go in case you need an emergency loan. Whatever your needs, make sure you understand all aspects of the loan offer and have the ability to repay it on time.

If we talk about a best emergency loan provider in 2022, MoneyMutual has no equal. Their vast network of lenders, simple application process, and excellent customer service are popular with borrowers across America. You can obtain several types of loans on this platform with varying conditions. So if you are looking for an emergency loan, visit the MoneyMutual website, submit an application, compare loan offers, negotiate with the lender and have your funds transferred within 24 hours!

You might also be interested in reading: Best No Credit Check Loans for May 2022

Using your credit card to spend the month? You’re not the only one!


Here are some tips to help you reduce some costs:

Use your transportation wisely

Make sure all grocery shopping, unnecessary trips around town, and fast driving are done as little as possible.

Read more: How to save money despite rising fuel prices

Try shopping in bulk or online and have it delivered

It’s always wise to shop in bulk so you don’t have to travel to stores all the time.

Less designer clothes and more affordable

It’s not always a good idea to buy the most expensive clothes on the market. However, by buying some nice, stylish clothes at a decent price that won’t cripple your budget.

Read more: Six ways to help guide your money-saving journey this year

According to Africa Melane interview with Carla Oberholzer, a debt counselor at DebtSafe, there are some tips you can follow to lead a better financial life in 2022. (msn)

  • Get an overview of your financial situation. Go through your latest bank statements with a highlighter to find leaked expenses. This will help you identify where you are spending unnecessarily
  • Keep an eye on your income and expenses each month. By working this, you can budget accordingly, so assign a total amount to different categories. So, for example, if you have an extra R1500 after paying all your expenses, you can put R1000 in a savings and use the R500 as petty cash (emergency things you might need in the month) .
  • Make sure you have a financial plan in place. Pin your goals; be sure to see them every day.” (msn)

You can find out more about this in click here.

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Credit Suisse froze $10.6 billion in sanctioned assets in the first quarter

The logo of Swiss bank Credit Suisse is seen at its headquarters on Paradeplatz square in Zurich, Switzerland October 1, 2019. REUTERS/Arnd Wiegmann

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ZURICH, May 5 (Reuters) – Credit Suisse (CSGN.S) froze 10.4 billion Swiss francs ($10.63 billion) in wealthy client assets in the first quarter under sanctions imposed under the of Russia’s invasion of Ukraine, according to the bank’s financial report. Thusday.

The Swiss bank’s financial report gave more details on its first-quarter results, which were originally released last week. Read more

“In 1Q22, CHF 10.4 billion of assets under management were reclassified as assets under custody due to imposed sanctions,” Credit Suisse said of its wealth management division.

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The financial report showed that an impact of 10.4 billion francs on the bank’s wealth management assets was linked to the assets frozen due to the sanctions.

The bank also said Russian clients now hold less than 4% of assets under management in its wealth management business.

Last week, Credit Suisse announced a net loss of 273 million Swiss francs in the first quarter, marred by net provisions for litigation of 703 million francs as well as by an impact of 206 million francs linked to the conflict in Ukraine. Read more

The financial report published on Thursday showed that gross bad loans increased by 230 million francs compared to the end of 2021 in wealth management.

Credit Suisse said this was “primarily driven by aviation and yacht financing, Lombard loans, export financing and European mortgages, partially offset by a decrease in ship financing.”

“The increase in impaired loans includes the negative effects of Russia’s invasion of Ukraine and related sanctions,” the bank said.

Credit Suisse said it was “continuously assessing the impact of the sanctions already imposed, the Russian government’s countermeasures and potential future escalations, on our exposures and our relationships with our clients.”

The bank also pointed to China’s strict COVID-19 lockdowns which have heightened concerns about further disruptions to global supply chains and upward pressure on inflation.

Credit Suisse said liquidity and solvency issues persist in China’s property development sector, with potentially negative effects on the Chinese economy and global markets.

“We are closely monitoring the risk management implications of these developments on our Lombard loan portfolio in China, the exposures of our trading and lending portfolio to Chinese local governments and Chinese state-owned enterprises, as well as the trend towards accelerating defaults in the onshore corporate debt market.”

The bank said it expected a legal case in Bermuda to cost around $600 million.

A Bermuda court ruled in March that former Georgian prime minister Bidzina Ivanishvili and his family owed damages “substantially over $500 million” from the local life insurance arm of Credit Suisse. The bank has announced its intention to appeal the verdict. Read more

($1 = 0.9784 Swiss francs)

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Reporting by Michael Shields and Brenna Hughes Neghaiwi, editing by Kirsti Knolle, Sherry Jacob-Phillips and Jane Merriman

Our standards: The Thomson Reuters Trust Principles.

GLOBAL TOP ADVISOR ROSEN Encourages IronNet, Inc. Investors Suffering Losses to Get Advice Ahead of Important Deadline in Securities Class Action

NEW YORK , May 4, 2022 /PRNewswire/ —

WHY: Rosen Law Firm, a global investor rights law firm, reminds buyers of IronNet, Inc. (NYSE:IRNT) securities between September 15, 2021 and December 15, 2021inclusive (the “Class Period”) of the substantial June 21, 2022 lead applicant deadline.

SO WHAT: If you purchased IronNet securities during the Class Period, you may be entitled to compensation without payment of fees or out-of-pocket costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the IronNet class action, go to https://rosenlegal.com/submit-form/?case_id=5641 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email [email protected] or [email protected] for more information on the class action. A class action lawsuit has already been filed. If you wish to act as lead plaintiff, you must move the Court not later than June 21, 2022. A lead plaintiff is a representative party acting on behalf of other class members to direct litigation.

WHY THE ROSEN LAW: We encourage investors to select qualified attorneys with proven track records in leadership roles. Often, companies issuing reviews do not have comparable experience, resources, or significant peer recognition. Many of these firms do not actually handle securities class action lawsuits, but are merely middlemen who refer clients or partner with law firms that actually litigate the cases. Be wise in choosing lawyers. Rosen Law Firm represents investors worldwide, focusing its practice on securities class action and shareholder derivative litigation. Rosen Law Firm has reached the largest securities class action settlement against a Chinese company. Rosen Law Firm was ranked #1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has ranked in the top 4 every year since 2013 and has recovered hundreds of million dollars for investors. In 2019 alone, the company obtained more than $438 million for investors. In 2020, founding partner Laurence Rosen has been named by law360 as a Titan of the Plaintiffs Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

CASE DETAILS: According to the lawsuit, the defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company materially overstated its business and financial prospects; (2) the Company was unable to forecast the timing of material customer opportunities that constituted a substantial portion of its published fiscal 2022 financial guidance; (3) the Company had not established effective disclosure controls and procedures to reasonably ensure that its public disclosures were timely, accurate, complete and not misleading; and (4) as a result, the Company’s public statements were materially false, misleading and/or lacked any reasonable basis in fact at all material times. When the real details entered the market, the lawsuit claims investors suffered damages.

To join the IronNet class action, also go to https://rosenlegal.com/submit-form/?case_id=5641 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email [email protected] or [email protected] for more information on the class action.

No class has been certified. Until a class is certified, you are not represented by an attorney unless you retain one. You can choose the lawyer of your choice. You can also remain an absent party member and do nothing at this point. An investor’s ability to participate in any potential future upturn does not depend on their status as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Lawyer advertisement. Previous results do not guarantee a similar result.

Contact information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, Pennsylvania
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]

SOURCE Rosen Law Firm, Pennsylvania

Tips for using those credit card points for travel rewards



Expert advice: Use those credit card points for travel rewards

Many credit card users have accumulated a lot of travel points during this pandemic. And now that COVID-19 restrictions are easing, travelers tell us they can’t wait to burn those spots. “I’m free again. I can travel,” said Luba Glickson, who is looking forward to traveling now that restrictions have been lifted. . “It had always been on my to-do list to go to the Biltmore to see the estate.” Take a look: Impromptu wedding takes off on Southwest plane after ordained minister offers gifts on-site servicesInstead of driving, Glickson and her husband decided to fly to North Carolina, and they also upgraded their plane seats. After all, they had racked up around 150,000 points over two pandemic years. “That’s a lot. That’s a lot!” says Glickson. “Online shopping, Amazon, buying furniture for the home – We racked up quite a few points.” Annie Davis, president of Palm Beach Travel, said she’s not shocked by the large amount of travel points her customers have accumulated over the past two years. “People are buying houses, spending astronomical amounts of money on decorating. They’re putting it all on their credit cards. We’re not surprised at all. And they want to burn those spots as quickly as possible, because people got stuck at home. them,” Davis said. mentioned. Davis advised his clients to burn their stitches. Fifty thousand points could save you around $500 on a plane ticket, but she says you need to act fast. “Prices go up, jet fuel goes up, labor prices go up, food costs go up, inflation goes up – and it keeps going. So my advice to you, and your viewers, is to book your journey now,” Davis said. Good to know: Your rights if an airline cancels your flight “It’s getting a little harder to be able to essentially redeem for exceptional value,” said Lee Huffman, credit card expert and host of the ‘We Travel There’ podcast. Huffman explains that the longer you sit on your stack of points, the less valuable they will be. “Airlines and hotels actually have to keep those points on their balance sheet as a liability for them,” Huffman said. take that responsibility off their balance sheet.” And even if travel is starting to pick up, travel agents say it’s still a good idea to buy that travel insurance. “Don’t skip travel insurance. The world is so unstable,” Davis said. Rossen reports: 3 tips to book your canceled flight faster. She still has about 100,000 points to burn and already has her sights set on the West Coast. for Los Angeles in September,” Glickson said. First, decide where you want to go. Then figure out which airline flies there, earn those miles, redeem them, and that will ensure you get a good deal.

Many credit card users have accumulated a lot of travel points during this pandemic. And now that COVID-19 restrictions are easing, travelers tell us they can’t wait to burn those spots.

“I’m free again. I can travel,” said Luba Glickson, who is looking forward to traveling now that restrictions have been lifted. “It’s always been on my bucket list to go to the Biltmore see domain.”

Looked: Impromptu wedding takes off on Southwest plane after ordained minister offers services on site

Instead of driving, Glickson and her husband decided to fly to North Carolina, and they upgraded their airplane seats as well. After all, they had racked up around 150,000 points over two pandemic years.

” It’s a lot. It’s a lot ! says Glickson. “Online shopping, Amazon, buying furniture for the home… We’ve racked up quite a few points.”

Annie Davis, President of Palm Beach Tourist attractionssaid she was not shocked by the large amount of travel points her customers had accumulated over the past two years.

“People are buying houses, spending astronomical amounts of money on decorating. They’re putting it all on their credit cards. We’re not surprised at all. And they want to burn those spots as quickly as possible, because people got stuck at home. them,” Davis said. mentioned.

Davis advised his clients to burn their stitches. Fifty thousand points could save you around $500 on a plane ticket, but she says you need to act fast.

“Prices go up, jet fuel goes up, labor prices go up, food costs go up, inflation goes up – and it keeps going. So my advice to you, and your viewers, is to book your journey now,” Davis said.

Good to know: Your rights if an airline cancels your flight

“It’s getting a little harder to be able to essentially redeem for exceptional value,” said Lee Huffman, credit card expert and host of “Podcast We travel there”.

Huffman explains that the longer you sit on your stack of points, the less valuable they will be.

“Airlines and hotels actually have to keep those points on their balance sheet as a liability to them,” Huffman said. “And every time those numbers get too big, they devalue them to basically encourage people to buy them back and take that liability off their balance sheet.”

And even if travel is starting to pick up, travel agents say it’s still a good idea to buy that travel insurance.

“Don’t skip travel insurance. The world is so unstable,” Davis said.

Rossen reports: 3 tips to book your canceled flight faster

Glickson said she wouldn’t skip her travel insurance. She still has about 100,000 points to burn and already has her sights set on the west coast.

“We use it on tickets to Los Angeles in September,” Glickson said.

Huffman said it’s better to have a “win and burn” mentality. First, decide where you want to go. Then figure out which airline flies there, earn those miles, redeem them, and you’ll be sure to get a good deal.

Klarna purchases will soon affect your credit score

Alternative loansDigital bank

Klarna will report the use of BNPL products and missed payments to UK credit reference agencies in an effort to help establish credit scores and prevent consumers from building up multiple lines of credit.

Image source: Alex Marsh/Klarna

Klarna’s 16 million UK customers will soon see their credit scores affected when using Buy Now Pay Later (BNPL) products.

From June 1, 2022, Klarna will start reporting the use of BNPL products with Experian and Trans Union, two credit reference agencies.

This will allow users to both build their credit history when Klarna purchases are paid on time, as well as impact scores for late payments and unpaid purchases. It will apply to both Klarna Pay in 30 and Pay in 3 orders placed on or after June 1.

Purchases made before June 1 will not be reported; nor will payments for purchases made before June 1.

UK consumer credit ratings will not initially be affected as this requires further updates to the rating mechanisms used by rating agencies; however, this will likely happen later in 2022.

As a result, lenders will have greater visibility into the use of Klarna’s BNPL products by UK buyers, and help improve affordability ratings, the company said in a press release, while preventing consumers to set up several lines of credit.

The government has long aimed to bring buy now, pay later under FCA oversight, a move it announced would go ahead in February 2022 following the review Woolard.

Klarna says it has worked closely with rating agencies in the UK over the past two years to help them update their systems to the point where they are now able to receive and process BNPL data in a fair and balanced manner. .

Previously, BNPL users would have been subject to a soft credit check, but only in some cases was the data released to rating agencies.

“It is alarming that UK consumers are still being forced to take out high-cost credit cards to demonstrate that they can use credit responsibly and build their credit profile,” said Alex Marsh, Director of Klarna UK,

“That will start to change on June 1 this year, as the vast majority of the 16 million UK consumers who make Klarna BNPL payments in full and on time will be able to demonstrate their responsible use of credit to other lenders.”

“We are delighted to help protect our UK customers and continue to build on our leadership in responsible lending, now credit reference agencies are able to accept our data. This was an area of key concern highlighted in the FCA’s Woolard review and we really took to heart Chris Woolard’s advice at the time to “don’t wait for regulations before making changes,” Marsh said.

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U.S. Supreme Court Bans Damages for Emotional Distress Under Section 504, Title VI, Title IX, ACA

The U.S. Supreme Court has ruled that damages for emotional distress are not recoverable in private actions to enforce laws authorized by the Expenditures Clause of the U.S. Constitution. Cummings v Premier Rehab Keller, PLLCn° 20-219 (April 28, 2022).

The Court held that the expense clause legislation, which conditions the receipt of federal funds on compliance with the law, does not allow the recovery of damages for emotional distress, because emotional injuries are generally not recoverable for rupture. of contract.

Laws authorized by the Spending Clause include:

  • Rehabilitation Act (prohibiting discrimination based on disability)
  • Title IX of the Education Amendment Act (Prohibiting Discrimination and Harassment on the Basis of Sex in Educational Institutions) of 1972
  • Title VI of the Civil Rights Act of 1964 (prohibiting racial discrimination in educational institutions)
  • Patient Protection and Affordable Care Act (prohibiting health care entities from discriminating based on race, gender, disability, or age)


Jane Cummings, who is deaf and legally blind, sought physical therapy from Premier Rehab Keller and requested that Premier provide an American Sign Language interpreter during her sessions. Premier declined and suggested that Cummings could communicate with his physical therapist using written notes, lip-reading and gestures. Cummings then requested the services of another physiotherapy provider.

Cummings sued Premier, alleging that its failure to provide an interpreter constituted discrimination on the basis of disability in violation of the Rehabilitation Act and the Affordable Care Act, seeking damages, declaratory relief and an injunction. The District Court (Northern District of Texas) dismissed the suit, finding that Cummings’ only compensable injuries were emotional and that damages for emotional distress are not recoverable in private actions under law. on rehabilitation or the Affordable Care Act. The Fifth Circuit Court of Appeals upheld the district court’s decision and the Supreme Court granted certiorari to hear the case.

The Court focused on the contractual nature of the anti-discrimination laws of the expense clause. These laws operate on a consent basis, which means that in exchange for receiving federal funds, covered entities agree to comply with federally imposed conditions. The Court emphasized that entities receiving federal funds must voluntarily and knowingly agree to the terms of this contractual relationship and be aware of the penalties to which they may be subject if they breach the contract. The Court held that for a particular remedy to be available in a private action under an expense clause statute, the recipient of the funding must be given notice that they will be liable for such damages because breach of his contract with the federal government.

Previous cases and legislative amendments have clarified that while there is a private right of action under these anti-discrimination statutes at issue, the Court has stated that the remedies available are limited to those generally available in the event of a breach of contract. In Barnes v. Gorman536 US 181 (2002), the Court held that individuals can obtain monetary relief or injunctive relief, but not punitive damages under these anti-discrimination statutes, as punitive damages are not available in breach of contract.

In cummingthe Court ruled that damages for emotional distress were not recoverable in a private action to enforce the expense clause’s anti-discrimination laws because damages for emotional distress are not generally not recoverable in breach of contract actions.


In a dissent joined by Justices Sonia Sotomayor and Elena Kagan, Justice Stephen Breyer argued that emotional harm is an anticipated injury resulting from intentional discrimination and that compensating people for such harm is consistent with the objective of remedies in contract law. Judge Breyer further noted the inconsistency between the Court’s decision and other anti-discrimination laws that allow for the recovery of compensatory damages for emotional distress.

Take away food

This decision is especially important for colleges, universities, school districts, charter schools and health care providers, most of which are recipients of federal funding. Students and patients can no longer obtain damages for emotional distress under these laws, which historically account for a substantial portion of the damages sought in such actions.

The prohibition of damages for emotional distress is limited to the expense clause anti-discrimination laws. The Court’s decision in cumming does not affect federal anti-discrimination laws that are not expense clause laws, such as Title VII of the Civil Rights Act of 1964 and 42 USC § 1981. Also, it does not affect neither do state and local anti-discrimination laws.

Two credit card theft devices discovered by Loveland police


Scammers are using skimmers again and Loveland Police are sending out an alert to tell people to be aware of the problem. Two skimmers were found at a Mobil gas station at 106 West Loveland Ave. two card readers. Skimmers steal a customer’s credit card information. “Waking up and saying ‘I’m going to go scam people’ is crazy. I don’t even understand it,” said Niel Hartman, who was visiting Loveland. Police found the skimmers after a Mobil customer reported suspicious activity on his credit card account. know how many people were affected, but as the skimmers had been in place for about a week at the end of April, there could be hundreds. The Secret Service is now involved in the investigation. Police are questioning people who may have used their cards to check their accounts. If there are any questions, call the Loveland Police.

Scammers are using skimmers again and Loveland Police are sending out an alert to tell people to be aware of the problem.

Two skimmers were found at a Mobil gas station at 106 West Loveland Ave.

Thieves secretly opened the gas pump housing and installed skimmers on two card readers. Skimmers steal a customer’s credit card information.

“Waking up and saying ‘I’m going to go scam people’ is crazy. I don’t even understand it,” said Niel Hartman who was visiting Loveland.

Police found the skimmers after a Mobil customer reported suspicious activity on her credit card account.

The skimmers were found on pumps one and three.

Police don’t know how many people were affected, but as the skimmers had been in place for about a week in late April, there could be hundreds.

The secret services are now involved in the investigation.

Police are asking people who may have used their cards to check their accounts. If there are any questions, call the Loveland Police.

Inside Queen Hippie Gypsy, Oakland’s First Black Woman-Owned Botanica

The Women’s Council of Associated Real Property Brokers (WC of ARPB) held its annual prayer breakfast to kick off Realtist Week, April 3-9, 2022, in keeping with the trade association’s commitment to increase the black wealth through home ownership.

This year commemorates the historic enactment of the Fair Housing Act 54 years ago on April 11, 1968. WC ARPB is the local chapter of the Women’s Council of the National Association of Realtors (NAREB) and a subsidiary of the Associated Real Property Brokers, the local chapter of NAREB, which is the oldest minority real estate trade association in the country.

Realtist Week’s activities in Oakland, California are grounded in NAREB’s intention to increase the economic future of Black Americans, by creating Black wealth through home ownership. The week-long event series is designed to reach Black Oakland residents where they live, work and socialize.

Additionally, Realtists expect to meet with policymakers and elected officials to ensure that affordable and sustainable homeownership is supported by law, through regulations or other means of city planning.

Black American home ownership has been steadily declining since 2004, when it peaked at nearly 50%. In the fourth quarter ending in 2021, as reported by the US Census Bureau, the homeownership rate for blacks hovered nationally at 44.6% compared to the homeownership rate for non-Hispanic whites just above 74, 2%.

“Realist Week events and activities raise awareness that black homeownership not only strengthens the economic fabric of our city, but also increases the attractiveness of Oakland’s many neighborhoods,” said Cathy Adams, President of the Oakland African American Chamber of Commerce (OAACC).

It is fitting that NAREB’s Realtist Week takes place during National Fair Housing Month which commemorates the passage of the Fair Housing Act of 1968, federal legislation prohibiting discrimination in housing based on race, color, gender, national origin, religion, family status or disability.

WC of ARPB and ARPB have scheduled a series of activities to educate the community and policy makers on the importance of affordable homeownership as the best and most effective wealth creation tool. The events and activities included were:

  • Annual Prayer Breakfast – Realistic Week Kick Off 4/2
  • Realtist Fitness Bootcamp Monday 4/4 9 at Tip Top Shape 472 9th Street Oakland
  • Virtual Town Hall for City of Oakland Mayoral Candidates Tuesday 4/5
  • Brunch & Learn to discuss the impact of cryptocurrency and blockchain on the real estate sector
  • TownCONNECT Homeowner & Homebuyer Expo Sat 4/9 at the Black Cultural Zone, 7101 Foothill Blvd Oakland FREE event, free lunch, live DJ, kids activities, raffles and more

Formed in 1947, NAREB’s founding motto of Democracy in housing continues to be his focus and goal. NAREB 2 The Million New Black Homeowners (2Mn5) program was launched to reverse the flight of wealth among black Americans.

As the country continues to experience an economic recovery, that same recovery has ignored most black Americans. NAREB’s approach to increasing Black wealth incorporates financial education, homeownership preparation and counseling, outreach to the faith community as well as expanding the knowledge base of Black consumers on the importance of advocating for public policies that support and increase affordable and sustainable home ownership.

WC of ARPB and ARPB joins NAREB chapters nationwide participating in Realtist Week. For more information about the association and Realtist Week, contact Tammy Willis, ARPB Women’s Council President, 510-460-0248 and [email protected]

Saints should make ‘aggressive push’ to sign Tyrann Mathieu, report says

With the 2022 NFL Draft officially on the books, the Saints should make an “aggressive push” to sign free agent safety Tyrann Mathieu, according to ESPN’s Adam Schefter.

The Saints are reportedly reviewing their talks with the three-time All-Pro after failing to address the position in the draft and losing starters Marcus Williams (Ravens) and Malcolm Jenkins (retiring) earlier this offseason. Mathieu, a New Orleans native and former LSU star, previously visited his hometown organization in April.

Mathieu, who has spent the past three seasons with the Chiefs, is one of the biggest names remaining in the free agent market after delivering another stellar campaign in 2021. The 29-year-old has recorded 76 tackles, three interceptions , one of which he returned for a touchdown and six passes defended in 16 starts. He also earned his third Pro Bowl nod in seven seasons.

At the time of his visit to the Saints on April 7, Matthew seemed excited to return home. He praised first-year coach Dennis Allen and owner Gayle Benson in his interviews with reporters, and even admitted he had considered joining the highly respected New York defense. -Orleans.

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“Whenever I see the Saints play defense, I always tap myself on the shoulder and say, ‘Hey, I could probably roll with those guys,'” he said, per the lawyer. “I don’t think they really need me, but it would be nice to go home and help them win.”

The Saints aren’t the only team linked to Mathieu since the start of free agency. The safety star went on a virtual tour with the Eagles shortly after his visit to New Orleans, which came a week after he revealed he had been in contact with Steelers coach Mike Tomlin .

More NFL coverage:

For more New Orleans Saints coverage, go to Saints Information Network.

India-UAE trade deal enters into force

India is negotiating trade deals at a very fast pace with complementary economies including the UK, Canada and the EU.

India is negotiating trade deals at a very fast pace with complementary economies including the UK, Canada and the EU.

The Free Trade Agreement between India and the United Arab Emirates entered into force on Sunday, under which domestic exporters from various sectors such as textiles, agriculture, dried fruits, gemstones and jewelry will enjoy duty-free access to the UAE market.

In a symbolic gesture of operationalizing the deal, BVR Commerce Secretary Subrahmanyam handed over certificates of origin to three exporters in the gemstone and jewelery sector here. These shipments to Dubai will incur no customs duties under the pact, which is officially called the Comprehensive Economic Partnership Agreement (CEPA). The Central Board of Indirect Taxes and Customs (CBIC) and the General Directorate of Foreign Trade (DGFT) issued relevant notifications for the operationalization of the agreement from May 1.

“Today the CEPA between India and UAE comes into force. Today we are sending the first consignment from India to the UAE which will benefit from this agreement,” Mr. Subrahmanyam.

The United Arab Emirates is India’s second or third largest trading partner and the country is a gateway to the Middle East, North Africa, Central Asia and sub-Saharan Africa, it said. he noted.

The trade pact will help boost bilateral trade to $100 billion in five years from $60 billion currently.

“$100 billion is just the beginning… Over time it will become $200 billion and then $500 billion in the years to come,” the secretary said, adding that 99 % of “our exports will drop to zero duties in the UAE”.

The gemstone and jewelery sector accounts for a substantial share of Indian exports to the UAE and stands to benefit significantly from the tariff concessions secured for Indian products under this pact.

Overall, India will benefit from the preferential market access provided by the UAE on over 97% of its tariff lines (or goods), which represent 99% of India’s exports to the UAE by value – in particularly in labour-intensive sectors such as textiles. , leather, footwear, sporting goods, plastics, furniture and engineered products.

Emphasizing the need for Indian products to be competitive in the international market, the secretary said there was a need to build and increase domestic capabilities. He also informed that India was negotiating trade deals at a very fast pace with complementary economies including the UK, Canada and the EU. Exports of goods and services account for around 22-23% of India’s GDP, Subrahmanyam noted.

“Our vision is that we should bring India to a point where 25-30% of our GDP comes (from) exports,” he added. He said the Department of Commerce has also strengthened to be future-ready and meet tomorrow’s challenges with a focus on promoting trade. “We are going to overhaul the department. You are going to change in the next few months… We are going to set up a huge business promotion wing,” the secretary said, adding that the focus would also be on data, data analysis and market intelligence.

On trade pacts, he said that there are bilateral agreements and both parties should feel that they got something.

The UK, Canada and the EU are all developed economies and they have huge potential for the kind of things “we make” like clothing, whole textiles, leather, chemicals, gemstones and jewelry, the secretary noted.

Furthermore, he said the ministry was analyzing many trade pacts and trying to fix them.

“We plan to summarize, simplify the agreement (with the United Arab Emirates for industry) and easily group them together so that everyone can know where I have the advantage if I go through this FTA. will do before the end of May,” he added.

‘Teen Mom’ personality becomes victim of credit card fraud


OG teen mom alum Mackenzie Edwards is opening up about a serious situation she dealt with recently. Monsters and critics noted that Edwards revealed that she had been the victim of credit card fraud. The former reality TV star shared the news on Instagram and called out the thief in the process.

On his Instagram story, Edwards told his fans that an individual got hold of his “debit card numbers” and they made a fraudulent purchase. She explained that she found out about the affair after making a $28 purchase at a pawn shop. Edwards said in a video, “Whoever decided it would be a good idea to steal my debit card numbers and go buy something at the EZ Pawn, uh, on Rossville Boulevard, and if you’re from Chattanooga… Please…why are you doing this?”

“Please don’t do it again,” she continued. “I had to spend my whole morning closing my cards, getting new ones, all because of someone who bought $28 worth of something at EZ Pawn.” Interestingly, Edwards went on to criticize the individual for making such a small purchase at the pawnshop, adding, “Besides, how are you going to steal someone’s card and only spend $28? Buy at least something good at the EZ Pawn. Those pawnshops have some good stuff. My grandpa took me there when I was growing up. It’s one of my favorite pastimes, go browse the pawnshops on pledges.

teen mom fans won’t be able to see this saga unfold on the show. Edwards, her husband Ryan Edwards and her parents Jen and Larry were all fired from OG teen mom in March 2021. At the time, it was reported that they were released after an intense fight between Larry and Maci Bookout’s husband Taylor McKinney, which took place at OG teen mom meeting. Bookout shares her eldest son, Bentley, with her ex, Ryan. Following the news, Edwards opened up about the layoffs and claimed that MTV was simply going in a different direction regarding the show’s future.

She claimed the Bookout team spoke directly to MTV about it. Edwards went on to say that Bookout’s agent “said they wanted to focus on all of Maci’s abilities and her… whatever she’s doing and we’re taking time off the show that she could use. to show it all.” When asked if anything specifically led to the request, she added, “Jen and Larry got fired. We got fired. They said when she didn’t fulfill her obligations or she didn’t didn’t have enough content, they were calling us back.”

Financial trends closing the wealth gap and bringing inclusiveness


Financial inclusion is one of the most ambitious goals that countries, leaders, businesses, communities and individuals around the world are trying to achieve. Little by little, financial inclusiveness advances pockets and makes a difference. And all of this is underpinned by a mix of ingenuity, Technology and disturbance.

Due – Due

This problem also cannot be solved too soon. For example, look at the high number of people who would be considered unbanked. About 25% of Americans are either unbanked or underbanked, which means that they have little or no access to traditional financial systems. While a quarter of the population is still too high, it is a lower percentage than ten years ago. Between 2017 and 2019 alone, the the number of underbanked decreased by 1.3 million.

Being unbanked, underbanked or unable to access traditional finance is not just a theoretical shame. This creates a multi-faceted ripple effect that undermines society in many ways. For example, adults without financial accounts have no credit score, which prevents them from buying cars or starting businesses. Additionally, without the ability to work with financial teams, households may struggle to grow wealth or set aside emergency or retirement funds.

The good news is that financial inclusion is on the global radar, which means it’s finally getting its fair share of conversation. Yes, we are still a long way from achieving a sense of financial fairness and inclusiveness for all demographic groups. Yet we are getting closer and closer to the possibility of truly equitable access to all things finance. A few important initiatives are helping us move forward, as listed below.

Offer attractive incentives to new entrepreneurs without CEO experience

The dream of owning a business can seem overwhelming, especially to those who don’t have the money to start a business. Nearside banking platform supports new founders by offering loans up to $10,000 with no credit check application. This allows almost anyone to apply for a Nearside debit card with an unlimited 2.2% cashback rate on qualifying purchases in 2022. Entrepreneurs like chavalia color perfumer and Gen Z baker Morgan Davis Nearside credit to help them realize their vision of starting a business.

Innovative card products have only started to appear in recent years. Not only do they lower the barriers to entry for dreamers, but they also help them manage their resources. At the same time, they allow them to build credit history as they embark on entrepreneurial adventures.

Using AI to go beyond the need for traditional credit scores

Historically, many people have never been able to get approved for loans because financial institutions viewed their credit scores as subprime. Usually, a score of 670 or less indicates that a potential borrower falls into the subprime category. However, credit scores only tell part of the story. AI-powered fintech solutions can paint a more holistic picture of someone applying for funding.

Far from resisting this change, many companies welcome the opportunity to work with underserved consumers. In fact, financial institutions and lenders are increasingly interested in assessing borrowers through non-traditional data points. Consider a possible borrower’s rent payment history. A record of paying rent on time can be a significant indicator that the payer might be a decent credit risk.

The government has even started to integrate different types of verification and evaluation into its lending processes. Fannie Mae integrated the history of rents in its subscription. As Acting FHFA Director Sandra L. Thompson said, “There is absolutely no reason why timely payment of monthly housing charges should not be included in underwriting calculations.”

Open the door to digital currency

Many experts believe that the future of money could be paperless and digital. The rise of and interest in cryptocurrency stimulates this feeling that crypto like Bitcoin and Ethereum could become more mainstream within the next generation. One thing is certain now: many professionals in the financial sector present digital currency as more inclusive than paper-based monetary systems.

What makes cryptocurrency more inclusive? On the one hand, investors can come from all walks of life. Like BlockFi Flori Marquez mentioned, many crypto investors are new to the world of investing. Crypto is the first financial asset they decided to own, perhaps because it is so easy to buy and trade online. Even banks are getting into the crypto act, albeit in smaller numbers. They are trying to bring crypto services in-house to attract new consumers.

Admittedly, cryptocurrency is still in its infancy. Nonetheless, it could provide another means of mitigating the ever-widening wealth gap. Over time, crypto could have an equalizing effect that lifts people out of low-income situations.

Strong focus on accessible financial education

As with any subject, finance can seem complicated to those with limited experience in managing money. Education is the easiest way to unravel the complexities of finance. And social media is not just a way to provide education, but maybe even a way to make money for anyone.

For example, take the videos of PJ Uscreen founder, PJ Taei. During the pandemic, Taei has been keen to help entrepreneurs find ways to monetize live streaming. He shares tips and advice designed to give all budding creators the information they need to grow their followers, grow their brands, and impress on any budget.

Wells Fargo has announced that some of its banking locations in major metropolitan areas will be house HOPE Inside centers. Each HOPE Inside space will offer free financial coaching and resources specifically for the unbanked. Darlene Goins, head of Wells Fargo’s banking inclusion initiative, has publicly stated that “financial literacy and orientation, as well as an individual’s sense of inclusion and confidence, are all important factors. to bring more unbanked people into the formal banking system.”

Introducing inclusiveness in the financial services sector

A final – and essential – way to achieve financial inclusiveness is the movement to hire a more diverse workforce in financial services. The reasoning is that the more people of color and minority people get into finance, the more welcoming finance will be for everyone.

Employees from marginalized families may also be able to introduce new concepts, especially if they work with people unfamiliar with financial inclusion issues. Consider the recent adoption of personalized money transfer platforms like Zelle. Providers like Zelle have made fast transfers via smartphones an integral part of modern life. They allowed people to exchange wealth virtually instantly, removing barriers to quick access to money, such as the ability to access a physical ATM.

To date, the initiative to embed advocacy in finance has worked, at least at an entry level. More … than half of entry-level financial employees are women. Nonetheless, the positive rep tends to drop later. On the C-Suite corporate ladder, the number of women of color drops by 80%. But many people hope that despite the fact that 77% of certified financial planners are menthe wind turns.

Financial inclusiveness is not an experience of “overnight success”. However, it is becoming more of a reality with each passing day. Every year, new innovations begin to take hold in the global financial community. It’s only a matter of time before all of this disruption culminates in an astonishing reckoning: access to financial services – and perhaps even freedom – as a human right.

The post office Financial trends closing the wealth gap and bringing inclusiveness appeared first on Due.

You can now ask Google to remove your phone number, email address or address from search results – Krebs on Security


Google said this week that it was expanding the types of data people can request to remove from search results, to include personal contact information such as your phone number, email address or physical address. The move comes just months after Google rolled out a new policy allowing people under the age of 18 (or a parent/guardian) to request removal of their images from Google search results.

Google has for years accepted requests to remove certain sensitive data such as bank account or credit card numbers from search results. In a blog post Wednesday, Google michelle chang wrote that the company’s expanded policy now allows for the removal of additional information that may pose an identity theft risk, such as confidential login credentials, email addresses, and phone numbers when appear in search results.

“When we receive removal requests, we will assess all web page content to ensure that we are not limiting the availability of other widely useful information, such as in news articles,” Chang wrote. “We will also assess whether content appears as part of the public record on government or official source sites. In such cases, we will not perform removals.

Google says a removal request will be considered if the search result in question includes the presence of “explicit or implied threats” or “explicit or implied calls to action to harm or harass others.” The company indicates that if it approves your request, it may respond by removing the URL(s) provided for all queries or only for queries that include your name.

While Google removing a search result from its index will do nothing to remove the offensive content from the site hosting it, getting a link decoupled from Google search results will make the content of that link much less visible. According to recent estimates, Google has a market share close to 90% in the use of search engines.

KrebsOnSecurity decided to test this expanded policy with what seems like an obvious request: I asked Google to remove the search result for BriansClub, one of the biggest (if not THE biggest) cybercrime shops for sale of stolen payment card data.

BriansClub has long abused my name and likeness to pimp its products on hacking forums. His homepage includes a copy of my credit report, social security card, phone bill, and a fake official government ID.

The login page for perhaps the most bustling cyber crime store for stolen payment card data.

Briansclub updated their homepage with this information in 2019, after it was massively hacked and a copy of their customer database was shared with this author. The leaked data – which included 26 million credit and debit card records from hacked online and physical retailers – was eventually shared with dozens of financial institutions.

Tech Crunch writes that the policy expansion comes six months after Google began allowing people under the age of 18 or their parents’ request to remove their photos from search results. To do so, users must specify that they want Google to remove “imagery of an individual currently under the age of 18” and provide personal information, image URLs, and search queries that would bring up the images. results. Google also allows you to submit requests to remove non-consensual explicit or intimate personal images from Google, as well as unintentional fake pornography, TechCrunch notes.

This post will be updated in case Google responds in some way, but it may take a while: Google’s automated response said: “Due to preventative measures being taken for our support In light of COVID-19, it may take longer than usual to respond to your support request. We apologize for any inconvenience this may cause and will respond to you as soon as possible.

Update at 8:14 p.m. ET: There’s a heated discussion about it on Hacker News in which at least one person claiming to work at Google Search said the explanatory document could be confusingly worded and there was no need for people to show threats express or implied regarding requests to remove information like phone number, physical address, or email address from a search result. KrebsOnSecurity has asked Google for clarification.

Tiruppur garment exporters expected to receive more orders amid economic crisis in Sri Lanka

“Some incomplete orders from the island nation had reached the garment units in Tiruppur”

“Some incomplete orders from the island nation had reached the garment units in Tiruppur”

As Sri Lanka reels from the current economic crisis, Tiruppur-based garment exporters expect international garment buyers to shift their orders to India, Tiruppur in particular. A few garment units in Tiruppur have already received orders and inquiries but no major changes in orders have yet taken place, they said.

According to Sri Lankan media, clothing orders from the UK, European Union and Latin American countries are being diverted to India as the clothing sector in Sri Lanka has been affected by the shortage of fuel, precipitated by the economic crisis. Orders have been placed in Tiruppur by these buyers to purchase woven items, T-shirts and baby clothes, according to reports.

Raja M. Shanmugham, chairman of the Tiruppur Exporters Association (TEA), said only “a few incomplete orders” from Sri Lanka had reached the garment units in Tiruppur for fulfillment in the past few months. “It is a brilliant chance that has opened up for India,” he told The Hindu, adding that moving a substantial part of the orders will depend on policy decisions made by the Sri Lankan government. .

Noting that Sri Lankan garments are known for their “workmanship”, Mr Shanmugham suggested that the central government must take steps to improve the skills of the workforce in Tiruppur. According to his estimates, of the nearly six lakh workers working in about 3,000 garment units, at least two lakh workers need to upgrade. “We have a self-learning workforce, which has many limitations,” the TEA chairman said, adding that upskilling will lead to less waste and more productivity.

A. Sakthivel, chairman of the Federation of Indian Export Organizations, said that international garment buyers have applied to garment units in Tiruppur and these buyers are already buying from India in addition to Sri Lanka. He said he was confident that the Tiruppur cluster is ready to meet orders that may be diverted from Sri Lanka in the coming months, which he estimated could represent “around 30 to 40%” of the total. total orders placed by clothing buyers in the island. nation.

California Attorney General Says We’re Consuming The Equivalent Of A Plastic Credit Card Every Week


California Attorney General Rob Bonta.

The state of California is suing an oil company as it investigates the cause of what officials are calling a plastic pollution crisis.

With Playa del Rey as the sunny beach backdrop, California Attorney General Rob Bonta said his office will subpoena ExxonMobil. Bonta said that for decades the oil industry deliberately misled the public about the dangers of plastic and falsely claimed the materials could primarily be recycled.

Bonta said more than 3 million tons of plastic are produced each year, eventually breaking down into tiny plastic particles.

What he said next put it into perspective.

“Each week, we consume the equivalent of a plastic credit card through the water we drink, the food we eat and the air we breathe. Each of us consumes over 40 pounds of plastic in the course of his life,” Bonta said.

SEE ALSO: San Francisco supervisors approve plan to keep Golden Gate Park’s JFK Drive permanently car-free

Part of the attorney general’s goal is to force companies to clean up their trash, which costs the state about $500 million a year. So far, ExxonMobil and the Western Plastics Association have not commented on this story.

Is debt settlement hurting your credit? – Forbes Advisor


Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors.

Debt settlement allows an overburdened borrower to repay a loan in a lump sum that may be significantly less than what is owed to them. It’s a tactic that can dispel a dark cloud hanging over your finances. But beware that a new source of gloom might begin to loom, as debt settlement can be bad for your credit score.

Credit reports used to calculate your credit score will show a black mark for any debt settled for less than the full amount. So while settling a debt can provide tremendous relief, it can also create big problems when you need to borrow again, as lenders typically use credit scores to decide whether or not to extend loans.

But don’t assume that debt settlement is always a bad idea. It all depends on the circumstances. Here’s an overview of how debt settlement works and its potential impact on your access to credit, along with tips for choosing a financially sounder alternative.

What is Debt Settlement?

In debt settlement, you agree to repay part of the debt and your creditor agrees to wipe the rest of the slate clean. This can happen in several ways.

A debt settlement company might offer to negotiate with your lender to get you a good deal. But the Consumer Financial Protection Bureau warns that working with debt settlement companies can be ‘risky’, as the federal watchdog says they often charge high fees and encourage consumers to stop paying their bills in the first place. hope to have a leverage effect on lenders.

You could end up with less money and worse credit than before, and little or no debt relief.

Home debt settlement is another option. Consumers can contact their creditors themselves and ask if a partial payment would settle a debt. This works best for debts that have already been charged by creditors as uncollectible.

Sometimes creditors will take the initiative in settling the debt. They may reach out to a customer and offer to take a reduced gain as a last attempt at collection on a long overdue account.

Whether done with the help of a settlement company, through a do-it-yourself campaign, or in response to a creditor’s offer, debt settlement can yield huge savings of 25% , 50% or even more on balances due. It may be worth considering. But you also need to consider the potential impact on your credit score.

How Debt Settlement Can Hurt Your Credit

The problem with debt settlement is that when a creditor accepts less than the amount owed, the account isn’t quite marked as paid in full on the borrower’s credit report. Verbiage varies by credit bureau. TransUnion may label the payment status as “paid after being applied”, while Experian will say: “Account legally paid in full for less than full balance”.

Different credit scoring models also handle debt settlement differently.

But the effect of settling a debt with partial payment is usually negative, often significantly. Indeed, payment history is the most important factor in calculating a credit score, accounting for 35% of the result.

Debt settlement practices can lower your credit score by 100 points or more, according to the National Foundation for Credit Counseling. And this black mark can persist for up to seven years.

It all depends on the circumstances. For example, a consumer with an already poor credit score due to a heavy history of late payments and collection actions will not be harmed by debt settlement as much as someone with a FICO score of 800 almost perfect. And sometimes debt settlement can actually help a score, at least in the medium term.

How Debt Settlement Can Help Your Credit

One of the benefits of settling an account is that it prevents the creditor from reporting updates on it to major credit bureaus. This starts the countdown to up to seven years that “derogatory information” can remain on your credit reports.

Another advantage of settling a debt is that the balance will not burden your credit utilization, which is the amount of your available credit that you use. High credit utilization lowers credit scores. Debt settlement alleviates this pressure.

The legal settlement of a debt also prevents the creditor from taking action for recovery, an undeniable advantage. When a creditor contacts a borrower with an offer of settlement, it may be a signal that the lender is moving towards seeking legal recourse. This alone is a reason to seriously consider a creditor’s settlement offer.

When you settle a debt that a creditor has assigned to a collection agency, you can negotiate to have the collection agent report the account as “paid in full” to the credit bureaus and remove derogatory information about the settled debt from your credit records.

The collector can say no to both requests, but it’s worth asking because you could score a double win: you’d avoid paying off the full amount of a debt and protect your credit score from major long-term damage.

Or, the collector could refer you to the original creditor to justify removing the black marks from your credit reports. You would need to show that you are making a serious effort to be more responsible with credit.

Debt Settlement Alternatives

If you don’t want to pursue debt settlement, you have other debt relief options that may be less detrimental to your credit score.

You could negotiate what is called a structured debt settlement with a creditor. This type of arrangement can give you more time to pay off the debt and even reduce the interest rate. The outcome can be as positive as debt settlement, but without credit history being affected.

A debt consolidation loan offers a way to restructure debt without creditor approval. Consolidation replaces your existing debt with an unsecured personal loan or home equity loan borrowed against your home.

These loans can lower the interest rate on your debt and extend your payment term, saving you money and reducing short-term cash flow pressures. But beware, if you can’t repay a home equity loan, you could lose your home.

A similar approach is to get a new credit card with an introductory rate of 0% and transfer the debts to the card. This can save you a lot of money on interest and won’t hurt your payment history.

Perhaps the smartest decision is to take your debt problem to a nonprofit consumer credit counseling agency. These experts can provide assistance with budgeting and also negotiate new terms with creditors while holding lenders accountable and managing your payments to keep accounts current and improve your credit score.

Bankruptcy is the most drastic approach to overwhelming debt. A Chapter 7 bankruptcy can erase most unsecured debt completely and permanently, usually in exchange for no payment. However, a black mark from a Chapter 7 bankruptcy stays on a credit report for 10 years.

Find out if you qualify for debt relief

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Debt settlement can help borrowers settle old debts, often for much less than the total amount owed. While it can save money and reduce your stress levels, debt settlement can be costly to your credit score and prevent you from getting new credit for years.

If you’re burdened with unsustainable debt, settlement is one potential solution worth considering, but others may be less detrimental to your credit rating.

Seattle Credit Consulting CEO Highlights Racial Disparities in Credit System, Shares Credit Advice – KIRO 7 News Seattle


From bad credit to credit consulting CEO – Tierra Bonds is on a mission to help others overcome their own credit battles while highlighting racial disparities in the credit system along the way. In honor of Financial Literacy Month, Bonds sat down with KIRO 7 to share her knowledge on all things credit, from construction to maintenance to rebuilding.

Applying for a credit card, buying a house, starting a business, taking out a loan – all are big life moves that require credit to complete.

At its most basic, credit lets you get the things you need now (like that house or that loan), based on your promise to pay it back later; and your credit score predicts how likely you are to keep that promise.

But that three-digit number can have a big impact on your life and your financial future.

“People realize their credit is in a bad state once they really, really need it,” said Bonds, credit specialist and CEO of Take Charge Credit Consulting.

Bonds were not always in line with his credit. In fact, it was her long and hard battle with bad credit that brought her to where she is today.

“I grew up not knowing much about credit,” Bonds said. “I knew enough I was scared of it, it was something my parents said just to stay away, for no reason, no idea why, and so I immediately got bad credit.”

Bonds explained how she gave away a towed car. The charge was sent to collections, which was later reflected in his credit report.

“Since I didn’t know much, I kind of ignored it, went on with my life, and then it just kept getting worse.”

Later, her bad credit came back to haunt her and ultimately prevented her from being approved to buy a house.

“I remember being there and being afraid to look at my credit rating,” Bonds said. “It’s a very scary feeling, for me it was really embarrassing.”

This was his motivation to study credit and learn its importance.

“I knew if I was going through that a lot of other people in my network were, so friends and family. So I eventually started a business because of my personal experience with bad credit,” Bonds explained.

Today, she is a Certified Credit Consultant and CEO of Take Charge Credit Consulting. His company uses the Fair Credit Reporting Act to challenge negative items in his clients’ accounts. She also helps her clients build and rebuild their credit.

Recently, Bonds has made it her mission to highlight racial disparities in the credit system. She reached out to a Seattle-area mortgage lender to try to put a figure on how much people with lower credit scores will pay over time, based on the average interest rates they’re paying on their mortgage.

“I’ve been doing this for over four years, but getting these actual numbers has been very eye-opening and heartbreaking,” Bonds said.

According to a report on credit scores by race, compiled by the Federal Reserve in 2010, white and Asian Americans had the highest average credit scores, while black and Hispanic Americans had the lowest average scores (see graph below).

Black Americans had an average credit score of 677, while white Americans had an average credit score of 734.

According to FICO, anything above 670 is in the “good” range, but better credit scores impact the interest rates a lender will offer.

Based on a $625,000 home in Seattle’s 98108 area code, Bonds found that the average interest rate given to an individual with a credit score of 734 (the average white credit score) was 3.5% – while the average interest rate given to an individual with a credit score of 677 (the average black credit score) was 4.125%.

This means that the person with the lowest credit score would pay an additional $2,877.61 per year and $76,107.60 over the life of the loan.

“It’s not a ‘you’ thing, it’s a product of the systems we live and operate in,” Bonds said.

While Federal Reserve data is more than a decade old, these exact average credit scores were also reported in the 2019 FICO score data, calculated by payment processing firm Shift Processing.

Credit score disparities by race are also reflected in a 2021 Credit Institute survey. However, Asian Americans are not represented in this data.

These statistics were backed up by a 2021 Credit Sesame survey of 5,000 Americans which found that black and Hispanic Americans are hit harder by the credit system.

“(The) missing piece is knowing the importance of why you need credit, that part is completely missing in the black community,” Bonds said. “If we don’t have the privilege of our parents teaching us that, of our parents buying a house, then it’s really hard for us to understand the importance of it; and that was my experience, my parents never bought a house, my grandparents never bought a house.

“It will definitely take all of us together to narrow these credit gaps which in turn narrow the wealth gaps,” Bonds said.

Bonds believes it starts with general credit education — including a basic knowledge of what credit is, how to build it, and what goes into each individual score.

“The system may not have been created for us, but if we do what we have to do…we too can use it to our advantage,” Bonds said. It starts with establishing credit.

This can be done through installment accounts (like a car loan, personal loan, or mortgage) and revolving accounts (like credit cards and other types of lines of credit).

If you have credit, you can apply for a beginner’s credit card.

If you don’t have credit, you can apply for a secured credit card.

You can also become an authorized user on a family member or friend’s credit card, allowing you to piggyback on their good credit.

You can also create credit without revolving accounts or installment accounts, by signing up for credit creation tools through financial institutions that allow you to create credit to pay your bills on time, such as Experian Boost.

Keep in mind that for FICO credit scores, you need an account that’s at least six months old and has been active for the past six months.

Next, Bonds thinks understanding your credit score is crucial.

“Knowing what counts in those triple numbers and playing the game is what we need to do to have good credit,” Bonds said.

FICO credit scores are determined by five factors.

  1. Payment history: 35% >> Making payments on time will help your score. Conversely, missing payments, having an account sent to collections or filing for bankruptcy can hurt him.
  2. Amount due: 30% >> This is your credit usage. It includes how many accounts have balances, how much you owe, and how much of your credit limit you’re using.
  3. Length of credit history: 15% >> This is the average age of all your credit cards, from oldest to newest accounts.
  4. Credit mix in use: 10% >> This includes the types of accounts you use (installment accounts and revolving accounts). Having a good history with both types can usually help your score.
  5. New credit: 10% >> These are all recent credit card applications or newly opened accounts.

Once you understand how each of these five things impact your credit score, Bonds said you can identify areas that need work and find ways to fix them or give your credit score a boost. pointing.

She advises making at least the minimum credit card payment each month, keeping your balance low, not letting collections affect your credit report (paying your debts on time), and keeping your accounts open – as long as they don’t cost you extra money.

Changing your credit score takes time and effort, but taking small steps can go a long way for your financial future.

“If you’re in a position with bad credit, it’s not your fault, the blame is not on you. Just get to the point of knowing you need help, then take charge and go from forward, and release that blame and embarrassment that we usually have on ourselves with bad credit,” Bonds said.

Bonds recently launched a program for individuals and businesses to sponsor a family or community member who needs credit help but cannot afford it.

If you would like to become a sponsor of a credit program or request to be sponsored, you can do so on the Take Charge Credit Consulting website.

Murray Basin Rail improvement contract awarded

More than 57,000 sleepers were replaced and 30,000 tonnes of ballast installed over 109 km of network.

The Victorian Department of Transport has announced that the alliance providing the Murray Basin Rail improvements in the North West of the state, comprising Acciona, Coleman Rail and SMEC and supported by Rail Projects Victoria and V/Line , has been awarded a contract for the next work package.

This includes track upgrades on the Ararat – Maryborough line and the Merbein and Donald branch works. Extensive planning, design and industry consultation took place in 2021 in preparation for work on the Ararat – Maryborough line, with work due to be completed by the end of the year.

A modern signaling system will also be installed by V/Line at Ararat Junction to improve safety, efficiency and reduce transit time through the junction, with work in progress.

The alliance recently replaced more than 57,000 sleepers and installed 30,000 tons of ballast on 109 km of line. The overall project includes converting a substantial portion of the state’s rail network from 1,600mm gauge to 1,435mm gauge and upgrading the tracks to handle higher axle loads of 21 tons.

Design and procurement work is also underway for other upgrades, including new loops and passing tracks, improvements at Maryborough and Dunolly Junctions and signage upgrades. The improvements will open 49 rail paths on the Murray Basin network, up from the current 28 paths, and remove approximately 20,000 truck trips from the road.

Network upgrade work was halted in 2019 when the initial budget ran out, but resumed in February 2021 after the Australian Federal Government provided an additional AU$200.2 million ($155.7 million U.S.) for the project, bringing the total cost to A$689 million.

Staples Credit Card Login, Number, and Bill Payment for 2022


Staples Inc (NASDAQ: SPLS) is one of America’s largest office retail companies. Staples primarily specializes in the sale of office supplies and other complementary products through retail channels and business customer delivery operations – and business accounts.

Like many retail stores, Staples offers a credit card so store loyalists can become cardholders and get great discounts and perks – in this case, the Staples Credit Card.

In this article, you will learn about Staples Credit Card, Staples Credit Card Login, How to Make Credit Card Payments, How to Manage Your Account Online, How to Reach Customer Service

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investContrarian investors have long clashed with momentum investors as many favorite stocks like FAANG have soared for an extended period with no signs of slowing down. But while momentum investing seemed like the way to win, famous contrarians like Warren Buffett still found attractive positions. At the Ben Graham Center Virtual Worth 2022 Read more

Benefits of the Staples Credit Card

Since Staples offers products to both retail and business customers, these are the primary benefits according to stakeholdersaccording to the company’s website.

Commercial and Enterprise:

  • Save $50 per statement credit on a purchase of $150 or more made within 45 days of account opening.
  • 5% back in rewards on every purchase – automatic upgrade to Premier status.
  • Free and fast shipping, minimum $35.
  • Online account management.
  • Detailed Billing Details — Easy-to-read monthly statements with bill-level details.
  • Purchase Order Tracking – If you need purchase order numbers, they will be included on your invoice for easy reference (online only for Business cardholders).
  • Improved spending controls — Set spending limits and billing options for authorized users.


  • Pay in full monthly.
  • Apply payments to specific invoices.


  • Flexible payment options – pay in full or carry over a balance.
  • Special financing plans of 6, 12 and 18 months.

Online account access

To get the most out of your Staples credit card, you need to have an online account and be able to access it. This applies to corporate accounts or business customers, as well as commercial customers.

From your online account, you can view your transactions, make credit card payments, and more!

Staples Map Login

To access your account, if you are a business customer, you will need the Staples credit card ID, which you can find by clicking here. For business accounts, just click here.

Register online

To register your card and create an account, go to login page and click on the “register your card” option under the login box. Once you’ve done that, you’ll need to enter your Staples credit card number and then click “continue.”

If you don’t have your card with you, simply click on “I don’t have my card in hand” and enter your name as it appears on the card, your social security number and your telephone, to which you will receive a verification code after clicking “send” – then just follow the prompts.

For the Business More account, go to login pageclick on the ‘register your card’ option below the login area, enter the requested information and click ‘continue’ – there is no option to register without your card to hand.

Forgot your password

If you forgot your Staples credit card password and already have an account, click on the “reset password” option. It will give you two options depending on whether you have your card with you or not.

Depending on the case, you will be asked to enter different information. Once done, click “continue” and follow the instructions to reset your password.

Please note that for Business accounts you must have your card with you or enter all the correct information.

Forgot User ID

If you forgot your user ID, just click on the “recover your user ID” option. Provide complete information – home address, social security number, etc. – will take you to prompts very similar to the “reset your password” option – this is the case for commercial and professional accounts.

Credit Card Services Staples

With the Staples Credit Card, you can pay in-store and online. Like any other retail credit card, it will give you specific benefits and account management options.

Staples Credit Card Bill Payment Phone Number

To make payments over the phone, simply call 800-733-2713, enter the requested information and follow the prompts. For business accounts, call 1-800-282-5316.

Staples credit card payment address

Do payments by posthere are the addresses you need depending on the type of account:

Staples Credit Card Payments
Box 78014
Phoenix, AZ 85062-8014

For business accounts:

Staples Plus Account
Box 78004
Phoenix, AZ 85062-8004

Customer service opening hours

You can also access customer service assistance by calling the following numbers, Monday through Friday, 9:00 a.m. to 8:00 p.m. ET:

Technical Support: 1-866-426-3831

TTY for hearing impaired: 1-888-944-2227

Outside the United States, Canada and Puerto Rico, call collect: 1-423-477-6512

How to Pay a Staples Credit Card

There are several ways to pay your Stales credit card. Just go for the one that seems most convenient to you.

In line

Go to Staples Credit Card Login and:

  1. Tap the “Connect” icon
  2. Enter your account user ID
  3. Enter your account password
  4. Click on the “Secure connection” button

Once there, find the payment option and follow the instructions to process the payment.

basic business account

By telephone

To make payments for your Staples credit card over the phone, call the number listed above. Enter the requested information and follow the prompts to proceed with payment – there is an option you can dial to contact customer service.

By email

To pay by mail, send a money order or check to the addresses listed above, depending on the type of account you have.

For next day delivery or express payments, send your payment to:

Staples Credit Card
Attention: Consumer Payments Department.
6716 grade track
Office 910
Louisville, Kentucky 40213

How to avoid late fees

The best way to avoid late fees is to make timely payments. Late fees can reach $39 and you will also receive a fixed APR penalty of 29.99%.


How do I check my Staples Rewards Card balance?

The best way to manage your Staples Credit Card is through the Staples Credit Card Login. The platform gives you all the key information regarding payments, balances and much more.

Does Staples have Google Pay?

As of this writing, Staples does not have Google Pay but accepts credit cards such as Visa Inc (NYSE:V), Mastercard Inc (NYSE:MA) American Express—American Express Company (NYSE:AXP) , gift cards, and checks.

Can I pay my Staples Advantage bill online?

Yes. You can create and sign in to an online Staples account from which you can pay your bills. The platform offers many payment options.

Final Thoughts

The Staples Credit Card is a no-brainer for Staples loyalists, and connecting to the Staples Credit Card makes it easy to manage your card and account. You can receive customer service through multiple channels and phone numbers, whether you are a business customer or a Staples Business More account.


Protect yourself: 3 steps to follow before opening a joint account with a partner


Amax Photo / iStock.com

Being in a relationship often means merging finances, but before you open joint accounts with your partner, you need to take some steps to make sure you don’t end up on the line for their poor financial behavior. In this “Financially Savvy Female” feature, we talk to Shazia Virji, Managing Director of Credit Services at Sesame Creditwhat to do and discuss before opening bank accounts or lines of credit with your loved one.

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Gain an understanding of your partner’s attitude towards money and finances

“Some people are more comfortable going into debt or financing purchases, while others have a philosophy of living a debt-free life,” Virji said. “Identify whether your partner is a saver or a spender to determine how you will make joint decisions about big purchases like a car or a house, or even decisions like opening a credit card. spouse.”

To get started, discuss your short-term and long-term financial goals and the steps you both want to take to achieve those goals.

“What’s important is that you’re both on the same page about the money coming in, the shared expenses, and what’s earmarked for individual expenses,” Virji said. “A joint budget is a great way to start planning without having to assume your partner’s spending habits. It can also be helpful to talk about past financial mistakes and how you learned from them.

You may hesitate to open a joint account with your partner if you find that he is unwilling to talk openly about his finances.

“A red flag would be someone who is unwilling to share information about their financial past, present or future,” Virji said. “It can be a sign that they have something to hide, which could impact your shared financial future. Transparency and communication are key when it comes to creating a common language around your finances, because your individual financial decisions will eventually become joint financial decisions.

POLL: Do you think student loan debt should be forgiven?

Share your current credit situation

“Be open to sharing your current credit situation with your partner so you can both plan for the future and know what steps both parties need to take to achieve your shared goals,” Virji said. “If you are looking to buy a house jointly with your partner, mortgage lenders will look at the credit ratings and backgrounds of both applicants. Make sure there are no surprises that could delay your schedule or keep you from moving forward with your dream home.

If you or your partner have bad credit, take steps to repair your rating before applying for a mortgage or other loans.

“There are a few factors that impact your credit score — payment history and credit usage are a big part of the equation,” Virji said. “You need to know if your partner is able to pay their bills and debts on time, and how much of their existing credit they use regularly. If they have a habit of maxing out their credit cards, this could be something lenders may not be comfortable with and could impact your ability to get approved for a joint account.

You also need to find out if they have any major financial skeletons in their closet, such as bankruptcy.

“Some negative items, such as bankruptcies, can stay on someone’s credit report for up to seven years,” Virji said. “It can really impact your timeline if there are big joint financial decisions you’d like to make with your partner. It’s best to know your partner’s financial skeletons so you can plan together how to make decisions. and stick to a reasonable schedule.

Share your current debt situation

“Know how much debt your partner has and what their repayment schedule looks like,” Virji said. “If they pay off their debts with high interest rates, it could limit their ability to save for meaningful common goals.”

However, if your partner is in debt, that in itself is not a red flag, Virji said.

“It’s okay if your partner is in debt – many Americans are! But it can start to impact your future if the amount of debt continues to rise and the rate of high interest on debt continues to escalate,” she said. “That means your partner is probably only paying interest during their monthly payments and they may not be able to significantly reduce principal repayment. This can limit the types of financial decisions you are able to make jointly, such as taking out a mortgage, which would further add to the debt situation. You can ask your partner for more details about their payment schedule and when they expect to fully pay off their balance so they can start putting those dollars toward savings.

GOBankingRates wants to empower women to take control of their finances. According to the latest statistics, women hold $72 billion in private wealth – but fewer women than men consider themselves to be in “good” or “excellent” financial shape. Women are less likely to invest and are more likely to have debt, and women are still paid less than men overall. Our “Financially Savvy Female” column will explore the reasons for these inequalities and provide solutions to change them. We believe financial equality starts with financial literacy, which is why we provide tools and guidance for women, by women, to take control of their money and help them live richer lives.

More from GOBankingRates

About the Author

Gabrielle joined GOBankingRates in 2017 and brings with her a decade of experience in the journalism industry. Prior to joining the team, she was a staff writer-reporter for People Magazine and People.com. His work has also appeared on E! Online, Us Weekly, Patch, Sweety High and Discover Los Angeles, and she’s been featured on “Good Morning America” ​​as a celebrity news expert.

Mobile Park Residents Threatened With Eviction So Jackson County Can Build Its New Jail | KCUR 89.3


Current and former residents of a mobile home park that is in the process of being licensed for a new detention center appeared at Monday’s Jackson County Legislature meeting to criticize officials for what they consider mismanagement and mismanagement of their forced displacement.

Last summer, more than 100 households in Heart Mobile Village in eastern Jackson County were told the county had purchased the land for $7 million to build a new jail and that all residents should move by the end of February.

In response, and with the help of the KC Tenants tenant union, a number of residents demanded that the county fully compensate the residents for the move, make cash payments of $10,000 separately from the allowances, and reverse the relocation payments. rent.

The county agreed to some of these requests, and in August the Legislative Assembly approved spending $1.7 million to cover relocation costs and financial aid, and voted to cancel rent payments through February. This plan also included providing $10,000 in housing assistance to each household and partnering with the nonprofit Community Services League to help residents resettle.

The county spent about $1.3 million on relocation payments to residents, which includes relocation assistance and costs associated with moving tenants or acquiring old trailers, according to a county report. By the end of February, 75 residents had been relocated and 26 others were about to move out. Four did not have definitive resettlement plans, according to the report.

In February, as the relocation deadline approached, the county approved spending an additional $800,000 to assist with relocation services for the remaining 31 residents who still lived in Heart Mobile Village.

But some former and current residents of the mobile home park say they haven’t received full compensation from the county or adequate support to move. Others are now at risk of deportation.

They are demanding that the county provide full compensation to the remaining residents, including a relocation plan, an end to all eviction proceedings and an audit of the money the county has spent on relocation assistance.

Rob Jennings, a resident still living in Heart Mobile Village, told lawmakers he was threatened with eviction and did not receive payment from the county until mid-March.

“And then I was told to come out three days later,” Jennings said. “He hadn’t even wiped my bank.”

When Jennings began looking for a new place to live, he tore his meniscus and underwent surgery. As a result of this injury and the stress of having to move, Jennings said he no longer had control of his life.

He asked the Legislative Assembly for more money to support his move.

“‘We’ll put you in a new place and you’ll have $10,000 in the bank,’ so I was told,” Jennings said. “And now I am paralyzed for life. And my life is turned upside down and I’m stuck here.

Zoila Guzman, a disabled resident who does not qualify for benefits, said Heart Mobile Village was the only place she felt safe.

“I need a house to live in, and because I don’t qualify for benefits I have nowhere to go because every place I applied to they turned me down,” said Guzman. “What will I do?”

Vietnam War veteran Urban Schaefer lived in Heart Mobile Village with his family for nearly seven years before moving in late January to Excelsior Springs, Missouri. Now Schaefer is battling an eviction notice filed against him last week.

“I have worked for the past few years to rebuild my credit. … And every time someone files an eviction, it goes on your credit report and it ruins you,” Schaefer said. “If I decide to move to where I am now, they’ll see an eviction on the record and they won’t hire me. And I’ve never been evicted anywhere.

Schaefer criticized the Legislative Assembly for a series of broken promises. He said he received no monetary compensation and no disabled ramps were built to enable him to enter and exit his home. He said he only got a used trailer from the county.

“They said I wouldn’t have any out-of-pocket expenses,” Schaefer said. “I had over $2,000 in out-of-pocket expenses. They’re supposed to build me a handicap ramp. It was never built. My electric scooter that I’m supposed to get around with has been out for three months and it’s in shambles.

Who will be India’s next chief of defense staff? The guessing game has begun!

The Indian government has kept its cards close and has yet to reveal the name of the next CDS, General MM Naravane, PVSM AVSM SM VSM ADC, who is due to complete his term on April 30, 2022. Since the untimely death of the former CDS, General Bipin Rawat, the post is vacant.

The current retiring leader’s combat indicators are missing, as he would have visited many formations/units on his farewell trips in the usual order of things.

The word on the street is that the government has chosen not to break the chain of succession and will most likely identify the CDS on April 30, or before General MM Naravane takes over as the second CDS. Because he would be superior to the three military leaders, the option makes sense.

What are the challenges that the CDS will have to face?

India is poised on a knife’s edge on the international stage as a power battle rages on. The Russian invasion of Ukraine succeeded in diverting the PLA’s attention from the CCP/aspirations to expand their dominance in the South China Sea, Sea of ​​Japan and Indian Ocean. Its signing of a peace deal with the Solomon Islands is a sham as it continues to expand its global reach.

The Ukrainian battlefield acts as a modern test bed for all military equipment to be tested, tried out and evaluated for their performance standards, with all targets provided by the Russian military.

Many parlor strategists have started working on the lessons learned from that fight, which was sparked by British Prime Minister David Cameron’s prediction that Russia might ultimately win the war in Ukraine.

Only time will tell if the US/NATO information war has contributed to the development of a global perception of Russians; only time will tell how the scale measures victory/failure.

The CDS will have to get down to a major job, and it will have to start immediately because the Indian forces will need both hardware and software. Equipment obsolescence should be a top priority, as should the integration of artificial intelligence and machine learning to reduce reliance on human resources.

The recent conflicts in Armenia and Azerbaijan, as well as the conflict in Ukraine, are not perfect examples of a conventional conflict, but rather a skirmish of muscular strength, without the conventional wisdom of having conducted an analysis on the ground.

The use of troops, as seen on news channels and social media, indicates that no battle procedures/exercises were followed. Logistical assistance seems to have been neglected and the piecemeal use of land tenure systems has exposed their flaws.

Armor is relevant in the Indian setting for any offensive operation or restoration of a bad situation in a defensive struggle. All platforms will continue to target the Tank as an offensive weapon to eliminate the opponent’s offensive potential.

Tanks in use today did not have precision attack protection from above or under-hull protection in their design criteria. ERA plinths and panels were used to defend the frontal plane and the width of the tank. Active protection technologies exist, but they have failed in the fight between guns and butter.

Tanks, ICVs, artillery guns, helicopters, planes, ships, submarines and infantry will all be affected; yet this does not exclude the possibility of conflicts and nations imposing their will on an adversary. Older strategists who have taken too many blood thinners seem to give up far too easily and quickly.

The Indian Air Force is facing significant difficulties. A substantial part of the Indian Air Force (IAF) fighter force is set to be phased out, with 83 Tejas Mark 1A aircraft ordered so far as firm replacements. The other projects are still under construction.

Organizational changes, dwindling numbers in units and training centers, challenges posed by insecure neighbors Sri Lanka, Pakistan, Nepal and Myanmar, and increased defense spending by the PLA will weigh heavily on the CDS, who is the man in charge of waging the war on the ground. . Unfortunately, everyone else will voice their opinions, which won’t matter on the battlefield, whether in Kargil or Galwan.

Whoever is named the next CDS must have a nimble mind, be nimble on their feet and have a Kevlar backbone to stand up to bureaucracy and be upfront with the political leaders of the day about the pros and cons of both the internal and external problems we face as a nation?

Jessica Simpson is ‘on a budget’ after her credit card was declined at Taco Bell | Entertainment


Jessica Simpson is “on a budget” after her credit card was declined.

The 41-year-old pop star had tried to make a purchase at fast food chain Taco Bell but was unsuccessful and is now using cash as she joked that she now had to budget by waiting for a new card.

She said, “I don’t have a working credit card. It’s okay. I’ll pay cash. I went to Taco Bell the other day and my card was declined. I have a limited budget, ladies!”

The ‘I Wanna Love You Forever’ singer – who has nine-year-old Maxwell, eight-year-old Ace and three-year-old Birdie with husband Eric Johnson – went on to explain that there’s a “fear” attached to money but “believes in herself”. “when it comes to business decisions.

Speaking on daytime talk show ‘The Real’, she said: “With money there’s so much fear attached to it. I’m the person you get mad at at the blackjack table. I’m gonna put it all out there if I’m running the show because I believe in myself and I know what I can do And I know nothing’s gonna stop me, and if you try to stop me , I will try harder.

It comes just days after the star announced she would be expanding her eponymous fashion label – the Jessica Simpson Collection – to feature menswear for the first time and wants her husband to be a role model for her.

She said: “We’re going into boys and menswear, which I’ve always wanted to do, because I know what a guy’s butt should look like in their jeans. My husband is a good role model for that, but he would never do it. Maybe I could convince him

How Blockchain Technology Can Change Ratings


The concept of lending and borrowing is as old as time itself. When it comes to finances, while some people have more than enough for themselves, others barely have enough to get by. As long as there is this imbalance in financial distribution, there will always be a need to borrow and a desire to lend.

Lending consists of giving a resource on credit on the condition that it be returned within an agreed period. In this case, these resources would be money or any other financial asset.

The lender can be an individual, a financial institution, a company or even a country. Whatever the case, the lender often needs some sort of assurance that his resources would be returned to him when agreed.

Certain criteria qualify a borrower to take out a loan. Among these are the debt-to-income ratio (DTI) of the borrower which measures the amount of money from their income spent on monthly debt service, stable employment, collateral value and real income.

Credit score plays a crucial role in loans

Typically, most financial institutions and businesses rely more on the borrower’s credit score than on the above criteria.

Therefore, credit scores are by far the most important factor in determining whether a borrower should be granted a loan. In a world of financial imbalance where loans are quickly becoming necessary, particularly due to the recent economic difficulties, individuals, institutions and even governments are expected to maintain their credit ratings as favorable as possible.

These ratings or ratings can be assigned to individuals, companies or governments who wish to take out a loan for the purpose of settling a deficit. Failure to pay the loan when due usually has a negative impact on the borrower’s credit rating, making it difficult for them to obtain another loan in the future.

In the case of governments, they are likely to Face sovereign credit risk which is the potential for a government to default on the repayment of a contracted loan. According to data from Wikipedia, Singapore, Norway, Switzerland and Denmark respectively rank from first to fourth among the least risky countries to lend to.

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The traditional credit score is barely perfect

As simple as it sounds, the concept of credit scoring is far from perfect due in large part to its centralized nature.

Credit ratings are performed by institutions commonly referred to as credit bureaus. Personal credit scoring can be done by agencies such as Transunion, Experian, and Equifax. Companies and governments are likely to be assessed by companies such as Moody’s and S&P Global, to name a few.

While credit bureaus strive to assess the creditworthiness of borrowers as transparently as possible, there have been many instances of inadequate assessments due to issues such as concealment of important information, studies static, misrepresentation and human bias.

In a recent article, Dimitar Rafailov, Bulgarian Associate Professor at Varna University of Economics, stress the importance of an adequate and transparent credit rating.

However, Rafailov noted that credit bureaus perceived shortcomings in these ratings and that such shortcomings had “reinforced the negative effects of the global financial crisis, generating additional systematic risks”. He pointed out that errors that affect traditional credit ratings as committed by credit bureaus are often caused by “business models, conflicts of interest and absent or ineffective regulation of their activities”.

The obvious need for decentralization

The advent of blockchain technology has revolutionized many industries, especially the financial industry. Decentralized finance (DeFi), as a product of the burgeoning technology, has revealed the possibility of running financial services with a peer-to-peer (P2P) system, eliminating the idea of ​​an intermediary or a central authority.

Decentralized credit scoring refers to the idea of ​​assessing a borrower’s creditworthiness using on-chain – sometimes off-chain – data without the need for an intermediary. The evaluation is carried out on a blockchain managed by a P2P system of computers without any central authority or control point. Additionally, a decentralized credit scoring erases the traditional credit bureaus from the picture.

Jill Carlson, investment partner at Slow Ventures, highlighted the importance of a decentralized form of credit scoring. She Noted in a 2018 article that “decentralized credit scoring solutions could therefore be extrapolated into broader identity systems that do not rely on a single central authority”, further stating that problems resulting from a scoring concept centralized credit “have been felt more deeply than ever over the past year,” citing the 2017 Equifax hack.

In 2017, credit rating giant Equifax suffered a security breach caused by four Chinese hackers who compromise data from 143 million Americans.

Antonio Trenchev, a former member of the National Assembly of Bulgaria and co-founder of blockchain lending platform Nexo, told Cointelegraph that credit ratings, especially those produced by central authorities, are more problematic than based on data. solutions.

Trenchev bragged about how his platform managed to exclude credit ratings through its “Instant Crypto and Nexo Card Lines of Credit.”

“In this utopian borrowing landscape that we hope to create, credit ratings will be scarce and, when used, they will be decentralized and fair.”

Become a reality

Two years ago, blockchain lending protocol Teller raised $1 million in a seed funding round led by venture capital firm Framework Ventures to integrate traditional credit scores into DeFi.

Although the first of its kind in the decentralized world, credit scores should help solve the overcollateralization problem that has plagued lending in DeFi while ensuring that eligible borrowers get what they deserve.

In November last year, Credit DeFi Alliance (CreDA) officially spear a credit scoring service that would check a user’s creditworthiness with data from multiple blockchains.

CreDA was developed to work with CreDA Oracle by evaluating records of past transactions made by the user on multiple blockchains using AI.

When this data is analyzed, it is transformed into a non-fungible token (NFT) called a credit NFT (cNFT). This cNFT is then used to assess incentives or tariffs specific to the user’s data when the user wishes to borrow from a DeFi protocol.

Moreover, CreDA was designed to work on different blockchains including Polkadot, Binance Smart Chain, Elastos Sidechain, Polygon, Arbitrum and many more, although it is built on Ethereum-2.0.

Recently, the P2P lending protocol RociFi labs concluded $2.7m seed funding in partnership with asset management firm GoldenTree, investment firm Skynet Trading, Arrington Capital, XRP Capital, Nexo and LD Capital. This is geared towards the expansion of on-chain credit ratings for decentralized finance.

Additionally, RociFi works by using on-chain data and AI in addition to credentials from decentralized platforms to determine a user’s rating. Credit score, as CreDA approach, is transformed into an NFT called non-fungible credit score which can range from 1 to 10. A higher score means less creditworthiness.

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A plethora of benefits

Judgments about a borrower’s creditworthiness can have a profound effect on their life. The need for fair and impartial judgments in this regard cannot be overemphasized.

Nevertheless, traditional credit rating bureaus have failed to accurately assess the creditworthiness of borrowers in many cases, either due to inefficiency or simply bias.

Decentralized credit scoring brings fairness to the table. Borrowers are certain of being assessed accurately because these assessments are performed by AI on blockchains without the control of any central authority.

Additionally, with decentralized credit scoring, on-chain consumer data is not collected and stored on a central ledger but dispersed in a blockchain maintained by a P2P system. This makes it very difficult for hackers to steal user data, as was encountered in the Equifax hack in 2017.

From DeFi to decentralized credit scoring, the blockchain industry has brought security and efficiency to the financial world. Although decentralized credit scoring is in its infancy, even with the progress already made, there is no doubt that it will become an even better assessment tool in the future.

Why should I care about my personal finances? | News, Sports, Jobs


Your bank balance is low; your bills are high, and so is your anxiety. Here’s a bombshell truth we all need to hear: managing personal finances is an essential life skill. For some people it’s a matter of satisfying both wants and needs, and for others it’s a matter of survival. Besides being able to keep a roof over your head, here are some reasons why you should care about managing your finances.

Why you should care about your personal finances

Your health and well-being

Over a thousand American adults were asked to discuss their feelings about their current financial situation. One of the main findings of this report is that Americans are worried about their financial future via The Mind over Money Study.

68% worry about not having enough money in their savings to retire 56% worry about not being able to meet the cost of living 45% feel stressed about managing their debts Survey respondents also admit that financial stress affects other aspects of their lives.

43% feel tired, 42% find it hard to concentrate at work, 41% say they don’t sleep well because of their financial burden.

Your relationships

Additionally, financial stress can have a huge impact on relationships. According to a survey by The Cashlorette, 48% of American respondents who are married or living with someone say they argue over financial matters. As a result, one of the main contenders for failed marriages is disagreements over money.

TD Ameritrade backs this up with data showing that 41% of divorced Gen Xers and 29% of Boomers say they ended their marriage because of disagreements over money.

Not worrying about personal finances will have a negative impact on your long-term health, your relationships, and your ability to take care of yourself and provide financial security for your family.

Your credit score

Maintaining a strong credit score and a good credit report can help you pass a rental credit check to rent a nice place to live, secure a lease, mortgage, or finance. Monitoring your credit card debt is just as vital as it helps you establish your credit score. Factors that affect your credit score and credit report are:

Payment habits

A history of not keeping up with regular payments with multiple accounts over several years may indicate irresponsible credit behavior.

Debt charge

Having large debts, especially relative to your gross income, will hurt your credit score.

Late payments

Late fees can be costly, especially with high-interest credit card debt. Additionally, late payments will show the inability to keep up with your regular debt payments.

Other financial issues

Accounts sent to collection agencies and filing for bankruptcy are just a few financial issues that will kill your credit score.

Of all the factors, payment history is the most critical factor to consider as it accounts for 35% of a credit score.

Another reason you need a good credit rating is to take on more debt if you need to. With a low credit score, you can expect any mismanagement of your finances to show up on your credit report. This can close the doors to favorable loan terms and credit cards to help you get your home, car, and other needs.

Achieve financial goals

A survey of 1,000 American adults asked respondents what their top financial goals were. The top five responses were:

20% answered: “Buying my own house or my own apartment”. 19% answered: “I have enough to finally be able to retire”. 14% answered: “Payment of credit card debt”. 6% answered: “Building my credit score”. 7% of respondents felt they would never reach their financial goals. When asked why they didn’t think they could achieve this, 20% said their expenses were too high and they had no discretionary income to use for other things. 14% said they had too much debt to pay off.

These are all common goals that people dream of achieving. Unfortunately, not meeting these goals is also a common problem for people who don’t care about managing their finances properly. A solid financial plan can turn your dream of achieving your financial goals into reality.

Ways to manage personal finances

Create a budget

According to a Penny Hoarder poll, about 55% of Americans don’t use a budget to manage their money. Penny Hoarder also determined that people who don’t track their spending tend to owe $5,000 or more in credit card debt. On the other hand, those who use a budget to track their money are more likely to know how much they are spending and are less likely to splurge.

To create a budget, you can sit down with a pencil, notepad, and your stack of bills and get started. You can also use a spreadsheet like Excel or download a budgeting app to your phone. Any of these methods of tracking your expenses will work.

Calculate your monthly fixed and variable expenses once you have determined your net income, your net salary after tax. Variable expenses such as groceries and gas are more difficult to determine, so consider using a 12-month average from the previous year as the monthly expense for your budget.

The old saying “Live within your means” still holds today. Do your best to ensure that your expenses do not exceed your income.

Monitor discretionary spending

Discretionary spending is money used for non-essential items and entertainment. A review of consumer spending in 2018 found that the top three areas where discretionary spending was highest were:

Food is consumed outside the home. Entertainment equipment and services such as sports equipment and hobbies such as photography. Clothing products and services. There are many ways to plan your spending in this area. One is the 50-20-30 rule, where 50% goes to necessary expenses, 20% to savings, and 30% to everything else.

But if you live in an area with a high cost of living, have large debts, or have a low-paying job, 30% of your income for entertainment and non-essential expenses is excessive. Make a judgment based on your financial situation.

Another way to budget non-essential expenses is to rank them in order of importance. Think about the top priority expenses and set your discretionary spending budget for the amount of those expenses.

You should also assess your recurring costs, such as monthly subscriptions. We often continue to pay these types of expenses without any consideration as to whether the product or service is still of value to us and worth the cost. Cancel any non-essential recurring expenses that you no longer need or no longer value.

Pay your bills on time and pay off your debts

Late fees are expensive and can add up. As already mentioned, late bill payments will also have a negative impact on your credit score. Pay your bills on time and pay off your high-interest debt.

It’s best to pay your credit card debt straight, or at least more than the minimum. Otherwise, you will continue to accrue interest charges, and paying off the loan will take longer and cost more.

To keep debt at manageable levels, try not to spend more than you earn, unless you’re acquiring an asset like a mortgage to buy a house.

Start an emergency fund

An emergency fund is a separate savings account used strictly to cover unexpected expenses. A rule of thumb is to save three to six months of your regular monthly payments to cover an unexpected cost.

This way, you don’t have to dip into your savings and stray from your financial goals, and you don’t have to further increase your debt at high interest rates.

Creating an emergency fund is a necessary part of the budgeting process. If you have significant debt that you’d like to focus on paying off, keep doing it, but set aside even amounts as small as $5-10 a week for emergencies.

Automate savings and invest

Set up automatic transfers from your checking account to your savings or investment account, preferably when your paycheck hits your account. This way, your savings can continue to add up without thinking about it.

Retirement plans

Even though this survey found retirement to be the second most important goal, more than a third of Americans don’t even see it happening. Additionally, 36% of Americans believe they will never have enough money to retire.

It’s never too late to start investing to save for your retirement. A 401(k) is an employer-sponsored plan. First, check with your employer to see if they have an employee contribution matching program.

You would agree to have a percentage of each salary paid directly into an investment account in this program. The employer can match part or all of the contribution. If you are self-employed and have no employees, you can contribute to a solo 401(k) plan.

33% of private sector workers in the United States do not have access to an employer pension plan. Unfortunately, people often don’t save for retirement without access to a 401(k) plan. But if your employer doesn’t offer a 401(k) retirement plan, a great alternative is to invest in an Individual Retirement Account (IRA).

Again, automate transfers from your checking account to your IRA to continue building your retirement savings.

The importance of financial autonomy

83% of people who set financial goals feel better about their financial situation even after one year. Create a budget, be consistent with your tracking, and commit to your plan. Automate your savings and build an emergency fund. You will pay your debts before you know it and your savings will increase. Not only will your financial health improve dramatically, but also your health and peace of mind.

— — —

The Best Personal Finance Software of 2022The 47 Best Personal Finance Blogs (And Why You Should Read Them)This article was produced and syndicated by Wealth of Geeks.

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The bears are back, so know if you can see them or not

Everyone likes to talk about bears. Bears spawn in everyone’s yard around Delta Junction. They are on every trail along the Denali Hwy. People spot them everywhere along the Richardson Highway. Except me. I have come to believe that I may be color blind to brown and black. Again, I am a believer in the theory that all animals must leave tracks.

Once upon a time, in the late 1960s, we were hunting along the Denali Highway, a friend of my dad and I. We were hanging out in Ole’s old Chevy somewhere around Milepost 100 – a lady comes running up the road screaming that a bear was chasing her. Of course Ole slammed on the brakes, he didn’t want to hit the girl, he wanted to shoot the bear. The woman gasped as she was picking blueberries and “a bear came up the hill right on top of her”. This was back when we carried rifles on our knees with a raised shell – sometimes there were creatures on the road in addition to other hunters.

We ran up the hill, only to find a medium-sized porcupine sniffing a tilted blueberry bucket. In another case, a girl whom I know well, and who should know better, came to our yard on the Maclaren with news that there was a bear on Crazy Notch Hill, just 3 miles down the road. The family and I grabbed binoculars and headed up to the Notch to see the big grizzly. Alas, another porcupine. It appears that porcupines could represent a significant portion of long-range grizzly bear sightings.

Moose feeding in the willows also turn into bears. The tracks easily give the truth, although most people really want to see a bear rather than just a moose. It is true that the Denali Highway has a good number of bears in some places. The hot spot for bears along the highway is the Upper Susitna River. Bear tracks are common on the sandbars along the Su and on area trails.

Bears like to feed on various vegetation along the vast gravel plain of the Susitna and Nenana rivers. There are also a good number of calving moose in this area. Grizzlies love them too. In the 1990s, the Alaska Department of Fish and Game decided that brown bear predation on moose needed to be reduced in Unit 13 along the Denali Highway.

Fish and Game was commissioned by the Board of Game to halve the bear population.

This never happened, despite liberalized seasons and a rather hazy vision regarding methods and means of enforcement. The bear population has remained stable or increasing. A study in addition to the survey was done to determine bear populations and what might be a maximum sustained harvest goal. Radio collars have been used for decades with good success on individual bears, but extrapolation from the data received has been difficult. Counting bears has been the thorn. Unless the population is a known quantity, data extracted from around 20 animals is suspect.

The newest and most promising technique is genetic information obtained from hair samples. It’s really amazing what you can get from a DNA sample. Researchers can tell gender and individual identity. Hormones in the hair sample can indicate whether the bear is stressed and what the bear has done with a staple in its diet. The age cannot yet be determined, but it is a future possibility.

Fish and Game places hair traps, piles of scent – blood or some other attractor – surrounded by barbed wire. A grizzly arrives and checks for good smells, finds nothing to eat and leaves. Ninety-nine percent of the time there are a few strands of hair left on the wire. Traps can be placed in a grid pattern, providing a great new tool for determining population density.

Meanwhile, the end of April has arrived. Snowmobile-mounted bear hunters travel through the highlands along the Denali Highway. Bears may emerge from their dens a little later this year due to a colder than normal April and heavy snowfall. However, snowmobiling conditions are the best since spring hunts were allowed 40 years ago. Snowmobiles are fast, reliable and easy to ride compared to the machines of yesteryear. A 100 mile hike through the mountains is common these days.

Yes, there will be leads. Tracks can be followed almost anywhere. It is not legal to chase a bear and shoot it from a snowmobile. Most people obey the law because it is in their nature to hunt fairly. The few who are inclined to want to down the bear and shoot it may hesitate because they understand that a snowmobile trail, following a bear trail for 10 or 15 miles, is a reasonably sure indicator of illegal hunting.

Despite liberalized methods/means and extended hunting seasons, bear populations virtually everywhere in the state are stable. There were temporary withdrawals in certain localities, but this did not last. Alaska is not populated enough to hunt bears. If we move away from the road, it is still the world of bears. The facts are that humans kill less than 2,000 bears a year statewide. That’s not many bears in a 586,000 square mile area. Non-residents take the lion’s share.

The snow will soon melt, perhaps, and soon we’ll be back in bear-watching summer mode. Most people who think they see a bear on the side of the road don’t immediately run to check the tracks and make sure of their identity. Well Named. And I, in my color-blind state, will continue to be skeptical of almost all “sightings”. However, there is a part of me that rejoices that people still have an unreasonable fear, satisfaction, and respect for one of the greatest symbols of true wilderness in our great state.

The Chase Sapphire Preferred Card is my favorite travel rewards card


Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We earn commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners.

the Chase Sapphire Preferred® Card is a great travel rewards credit card for many reasons, but a few standout perks include its valuable, transferable Chase Ultimate Rewards® points and comprehensive travel insurance benefits – on top of that, there’s no foreign transaction fees and you will only have to pay an annual fee of $95.

And while it might not offer as many flashy perks as some of the other travel reward credit cards, out of the 70+ credit cards I’ve had in my life, I’ve found that it was one of the best.

If you’re looking for a new travel rewards credit card, the Chase Sapphire Preferred is currently offering a whopping 80,000 point bonus as a welcome offer for new cardholders, available after spending $4,000 at during the first three months of card membership and worth $1,000 in flights, hotels and/or car rentals when redeemed through Ultimate Rewards (and potentially even more if you transfer to partners).

Here’s a look at some of the reasons I’ve enjoyed using the Chase Sapphire Preferred over the past six months, and why it continues to be a premium credit card for me.

Chase Sapphire Preferred® Card

  • Awards

    $50 annual Ultimate Rewards hotel credit, 5X points on travel purchased through Chase Ultimate Rewards®, 3X points on dining, 2X points on all other travel purchases and 1X points on all other purchases

  • welcome bonus

    Earn 80,000 bonus points after spending $4,000 on purchases within the first 3 months of account opening. It’s $1,000 when you redeem through Chase Ultimate Rewards®.

  • Annual subscription

  • Introduction AVR

  • Regular APR

    16.24% – 23.24% variable on purchases and balance transfers

  • Balance Transfer Fee

    Either $5 or 5% of the amount of each transfer, whichever is greater

  • Foreign transaction fees

  • Credit needed


  • Points are worth 25% more when redeemed for travel through Chase Ultimate Rewards®
  • Transfer points to major frequent traveler programs at a 1:1 rate, including: IHG® Rewards Club, Marriott Bonvoy™ and World of Hyatt®
  • Travel coverages include: Collision Damage Waiver for Rental Vehicles, Baggage Delay Insurance and Trip Delay Reimbursement
  • No fees charged on purchases made outside the United States

The inconvenients

  • $95 annual fee
  • No Intro 0% APR
  • Estimated rewards earned after 1 year: $1,506
  • Estimated awards earned after 5 years: $2,528

Total rewards include points earned from welcome bonus

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My experience with the Chase Sapphire Preferred Card

For several years I couldn’t get the Chase Sapphire Preferred card because of Chase’s 5/24 rule, which excludes applicants who have been approved for more than five credit cards in the past 24 months. Because I was always on the lookout for the next great welcome offer, I kept breaking that five-card limit consistently.

Eventually I found myself within the 5/24 rule, applied for the card and was approved in October 2021. Shortly after, I earned the welcome bonus after reaching the minimum spending requirement of $4,000 in the first three months of account opening and the 80,000 points I received provided $1,000 worth of flights and hotels when redeemed through Ultimate Rewards.

Here’s why I found this credit card so valuable.

Travel insurance is a major benefit included

When you book travel with the Chase Sapphire Preferred Card, you are immediately covered by the following travel insurance policies:

  • Trip cancellation and interruption insurance
  • Travel delay reimbursement
  • Collision Damage Waiver for Rental Car (Primary Rental Car Insurance)
  • Baggage delay insurance

These benefits have been extremely valuable to me as I have had many occasions where my travel plans have gone wrong. More recently, while flying from California to Florida over the holidays, my flight was canceled due to bad weather and I was forced to stay the night. Luckily, my trip delay insurance kicked in and covered my overnight hotel and meal expenses, which were about $250. By saving my receipts and submitting a claim, I was able to receive a direct deposit for related expenses into my checking account a few months later.

Ultimate Rewards points are valuable and easy to use

The Ultimate Rewards points I’ve earned continue to give me great value. Specifically, my partner and I appreciate the ability to transfer them into Southwest Rapid Rewards points at a 1:1 ratio. After recently earning the Southwest Companion Pass with the Welcome Bonus from Southwest Rapid Rewards® Plus Credit Card, I can now take the points I earn with the Chase Sapphire Preferred card and transfer them to Southwest. And with my Companion Pass benefit, I can book almost free flights for me and my travel companion, because I can book myself with Southwest points and my partner flies free (we only have to pay taxes and fees ).

I was also able to transfer my Ultimate Rewards points to IHG Rewards and Marriott Bonvoy loyalty programs to book free hotel stays during my travels.

Best of all, I’m always guaranteed 1.25 cents per point worth when using my points in the Chase Travel Portal, although in most cases I can usually find better value by transferring them directly to one of Chase’s 14 hotel or airline partners. , including the following loyalty programs:

  • Aer Lingus Aer Club
  • Air Canada Aeroplan
  • British Airways Executive Club
  • Emirates Skywards
  • Flying Blue (KLM and Air France)
  • Iberia More
  • JetBlue TrueBlue
  • Singapore Airlines KrisFlyer
  • Southwest Airlines Quick Rewards
  • United Airlines MileagePlus
  • Virgin Atlantic Aeroclub
  • IHG Rewards Club
  • Marriott Bonvoy
  • The world of Hyatt

For example, with the current welcome offer of 80,000 points, you could:

  • Transfer 50,000 points to the Virgin Atlantic Flying Club to book a one-way business class flight on Delta Air Lines from the United States to Europe (retail price: $2,800+). You will still have 30,000 points left.
  • Transfer 80,000 points to World of Hyatt and book four nights at the Hyatt Andaz West Hollywood (public price: up to $2,100 taxes and fees included)
  • Transfer 78,000 points to the British Airways Executive Club and book three round-trip flights from West Coast cities to Hawaii on American Airlines or Alaska Airlines (retail price: $1,350)

What to consider if you are interested in this card

While the Chase Sapphire Preferred card is a great option for people who love to travel, ultimately it might not be the best choice if you have other needs. Here’s what else you should consider before applying for the card:

Rewards transfer options

While you can always redeem your rewards points through the Chase Ultimate Rewards travel portal, to get the most bang for your buck, you’d definitely be better off transferring them to one of the partners listed above. However, you should also consider who these partners are – and how often you travel with them – before applying, as another travel rewards card might offer different options.

Personally, I appreciate being able to transfer mine to Southwest Airlines, Virgin Atlantic Flying Club (so I can fly Delta Air Lines), British Airways (so I can fly American Airlines or Alaska Airlines), JetBlue, IHG, and Marriott. Check and see if Chase’s available transfer partners meet your travel needs – if not, American Express and Capital One each offer travel rewards credit cards with transferable rewards to different partners that may work better for you.

Consider “doubling up” on Ultimate Rewards

The next step in the Chase Sapphire Preferred card is the Chase Sapphire Reserve®, which offers even more travel perks, including lounge access and fee credits for expedited airport security programs, among others. Although you are not allowed to have both cards in your possession at the same time, you can always decide to upgrade to the Chase Sapphire Reserve later.

If you are a business owner, you also have the option of applying for a business credit card such as the Chase Ink Business Preferred® Credit Card. The card currently offers a significant welcome offer of 100,000 bonus points after spending $15,000 within the first three months of opening your account.

Finally, you can add the absence of annual fees Hunt Unlimited Freedom® or Chase Freedom Flex℠ to earn bonus points in other categories, like pharmacies, then combine the points earned with these cards with your Sapphire cards to make them more valuable.

At the end of the line

the Chase Sapphire Preferred Card continues to be a staple in the wallets of many travelers for its great value and transferable points network, among other valuable perks. Its welcome offer of 80,000 points also offers a great opportunity to offset rising travel costs since it’s worth $1,000 worth of travel booked through the Chase portal, all for a modest annual fee of $95.

Even if you only travel or stay in hotels a few times a year, this card has the potential to quickly pay dividends by saving you money on your travels while earning reward points. reward. And as the travel landscape continues to be unpredictable, simply using this card to book your trips could save you hundreds of dollars in case your plans go wrong.

Editorial note: Any opinions, analyses, criticisms or recommendations expressed in this article are those of Select’s editorial staff only and have not been reviewed, endorsed or otherwise endorsed by any third party.

How Car Loan Settlement Affects Credit


No one wants to consider pay a car loan, but if you find yourself unable to make payment for your car, this might be the best option for you. Settling an auto loan involves working with the auto dealership as the liaison between you and the lender. They can often negotiate a lower lump sum payment than the full car loan if you pay by a certain date.

Your car loan settlement will affect your credit score. However, it is important to weigh the pros and cons for your long-term credit history and financial goals when deciding what to do.

Settling a car loan will lower your credit score

When you settle an auto loan, the immediate impact on your credit score is negative. Your credit score will go down when you settle a car loan, but the amount of the credit score varies depending on the situation. In general, the higher your score initially, the lower it will drop if you repay your loan.

However, paying off your car loan might be the best option for you in the long run. Your credit score will be negatively affected each time you miss a payment. If you’re having trouble making regular payments and can’t fully repay the car loanpaying off your car loan will allow you to start rebuilding your credit.

Once the loan is settled, your credit score will initially decrease, but then you can focus on restoring it. You can work to make other payments on time, pay off other debts, and boost your credit score again. Opening new lines of credit could negatively affect your credit, you may want to avoid new accounts until your credit score is in better shape.

Car Debt Settlement vs Repossession

Your car loan settlement is different from vehicle recovery. With an auto loan settlement, you enter into an agreement with the lender to pay off some of your original debt. Your debt is then considered settled. However, you will have to pay taxes on any amount of forgiven debt.

With repossession, the lender will repossess your car and sell it to pay off some or all of your loan debt. If the car is sold for less than the amount you owe, you may still owe the lender money. This is called a compensatory payment. You can either return your car and allow the lender to take it back voluntarilyor he may have the right to repossess your vehicle without your consent if you fail to repay your loan.

Car debt settlement and repossession will negatively impact your credit score. And, since both are often preceded by late payments, you may have several negative marks in your credit history.

Paying off your debt in full is always the best option for your credit, but that’s often too much to ask. If you can’t, try working with your lender to find the best solution. You may want talk to a credit counselor to determine what would be best for your situation.

6 alternatives to settling your car loan

  1. Repay the loan in full. Paying off your debt in full is always the best option for your credit.
  2. Modify your car loan. Depending on your situation, you may be able to change your car loan. Talk to your lender to see if they can help you rework the terms of your loan.
  3. Trade in your car. If your car loan is too expensive, consider trade in your car for an older vehicle. This could allow you to get a lower monthly payment for your car loan.
  4. Sell ​​your vehicle. If you can get around without a vehicle, even temporarily, consider sell your car.
  5. Allow your car to be repossessed. Vehicle repossession comes with its own set of negative marks for your credit, but it might be better than settling your car debt. Talk to a credit counselor to learn about the best options for your credit.
  6. File the balance sheet. If paying for your car isn’t your only financial concern, you could file the balance sheet. This will affect your credit for up to ten years, so it’s not something you want to do if you have other options.

The bottom line

Settling a car loan can be a daunting process, but improving your situation now will improve your finances in the long run. Consider all of your alternatives before deciding to settle your car loan, as it will negatively affect your credit score for seven years. If you’re unsure what to do, consider talking to a credit counselor.

Learn more

Three Mississippi women share their challenges with payday lenders


Payday loan outlets with interest rates as high as 521% are so prevalent in Mississippi that they outnumber McDonald’s restaurants by more than 5 to 1, USA TODAY found.

The Mississippi Center for Justice, a public interest law firm, works with a few cities and local banks in the state to teach residents about financial literacy and budgeting through a program called New Roots Credit Partnership. One of the goals: to get residents to stop using payday loans, which the law firm says are predatory, especially in predominantly black communities.

But INFiN, a consumer lending alliance that represents payday lenders, said its members provide low-cost, unsecured loans to residents who need cash fast. It says many borrowers need money for food, utilities, rent and prescriptions. The maximum payday loan in Mississippi is $500.

FIGHT PAYDAY LOANS:Mississippi social justice firm fights ‘predatory payday lending’ in low-income communities

Here are the experiences of three Mississippi residents who have dealt with payday loans.

Brandy Davis, 44, has a doctorate and a master’s degree in business administration and said his advanced training came from his experience with payday lenders.

Davis, who lives in Olive Branch, said in 2010 that she was a high school teacher struggling to make ends meet.

Davis said she needed about $600 for a utility bill and got three separate payday loans from different lenders in one day.

However, when payday came, she was unable to fully repay the debts.

So, she said she keeps getting new payday loans to pay off old loans, with the fees added each time with compound interest.

After a six-year cycle, Davis said she had racked up more than $10,000 in payday loan fees and interest on her many short-term loans.

“I was in a whirlwind and fell into a state of depression,” she said.

Davis said she was considering filing for bankruptcy protection, but said her mother’s insurance agent advised her on a plan on how to budget and settle her loan debt on salary.

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“Where we live in the Mississippi Delta and being surrounded by poverty, we sometimes find ourselves at the mercy of payday loans,” said Davis, who now works in academic affairs at LeMoyne-Owen College in Memphis, Tennessee. “If you are in poverty, it will bring you down.”

Tisha Willis, 50, said she had never borrowed from a payday lender after working in the industry for five years.

“I know better,” said Willis, who lives in the Florence suburb of Jackson. “I wouldn’t advise anyone to do that… If you go there once, they’ll keep needing that money.”

Tisha Willis, with a jacket, celebrates with her family and her real estate agent after buying a house.  Willis said he improved his credit rating, which enabled him to buy the house, through the New Roots Credit Partnership program in Mississippi.

Willis said she took the New Roots Credit Partnership’s financial literacy course and learned how to improve her credit rating, which helped her buy her first home – a five-bedroom house for her large blended family.

“It’s open to everyone. It’s a family home,” said Willis, who works for the City of Jackson in voter services. “When my dad gets older, he gets a bedroom. It’s a generational home.”

Willis said she encourages others who may be in dire financial straits to seek out a financial expert and “not rush into payday loans.”

Vokeya Hughes, 39, said she needed money in 2018 to pay funeral costs

She said she was approved for a payday loan of at least $500 through an online company, but was unable to repay all of the debt.

Hughes said she then lost her job and could no longer pay at all.

Eventually, Hughes said she incurred more than $2,000 in late fees and interest.

Indianola's Vokeya Hughes said when she applied for a payday loan, she was asked for references.  She later found out that these referrals were being offered loans from the payday loan company.

Hughes said she eventually paid off her debt, but her credit report showed she still owed money, making it difficult to buy a home.

“It (payday loans) affects you in the long run, even if I had paid it back,” she said.

Hughes added that when she applied for her loan, she asked for three referrals and was offered incentives for those names.

She later found out that the payday loan company offered these referral loans, and there are payday loan offices “on every corner” in some Mississippi towns.

“They’re side by side,” Hughes said.

Got a tip on business or investigative stories? Contact the reporter at [email protected] or 602-509-3613 or on Twitter @CraigHarrisUSAT or linkedin.com/in/craig-harris-70024030/

Summer rain brings some respite to Hyderabad | Hyderabad News

HYDERABAD: Residents received some respite from the scorching heat on Thursday as the city witnessed summer rains during the evening hours. Several regions including Banjara Hills, Kukatpally, Khairatabad, Ameerpet, Punjagutta, Madhapur, Shaik pet, Mehdipatnam, LB Nagar, Uppal, Charminar among others witnessed unexpected rains late in the evening bringing the temperature down a few notches .
“Hail/thunderstorm with light to moderate rain very likely to occur in parts of Rangareddy, Hyderabad, Medchal-Malkajgiri, Nalgonda, Vikarabad, Sangareddy, Medak, Yadadri Bhuvanagiri and Siddipet in the next three hours,” a forecast from the Indian Meteorological Department (IMD), read in Hyderabad.
Within the boundaries of the GHMC, the highest rainfall was observed in Balanagar which received a rainfall of 15.5mm, followed by Khairatabad with 13.0mm and Kukatpally with 10.3mm of rainfall.
Locals took to Twitter to talk about the pleasant weather and the city. “Storm and rain in #Hyderabad incredibly pleasant and relieved from the unrelenting heat,” Ramana tweeted with handle @CRamanaKumar.
Several flights entering the city from various locations have been diverted to other areas. “Due to bad weather in Hyderabad, flights from Mumbai, Delhi, Bengaluru and Vizag have been diverted to other areas,” an official from GMR Hyderabad International Airport Limited said.
While flights from Mumbai to Hyderabad and from Vizag to Hyderabad were diverted to Vijayawada, a flight from Delhi to Hyderabad was diverted to Bangalore and another flight from Bangalore to Hyderabad was diverted to Nagpur. IMD has predicted light to moderate rain or thunderstorms in isolated parts of Telangana for the next 5 days.
Houses struck by lightning
As thunderstorms and moderate to heavy rain hit parts of the city, there were reports of property damage in various locations Thursday. A few residences in HMT Nagar were struck by lightning destroying a significant portion of the roof which fell on them and caused minor injuries. A car was also damaged in the same vicinity after a tree branch collapsed on it.
Strong winds uprooted some of the tall trees by the roadside at Teegalguda in Malakpet. A tree branch collapsed on a bicycle and thunderstorms wreaked havoc in Sangareddy, Patancheru, BHEL, Ameenpur and Ramachandrapuram. The city recorded the highest rainfall of 16.5mm in Balanagar till 8pm.

Gen Z helps lead more than one in four property managers


CHICAGO, April 21, 2022 (GLOBE NEWSWIRE) — A growing number of tenants are benefiting from having their rent payments reported to credit reporting agencies, and that number is likely to grow as the younger generation – Generation Z – are the most interested in this practice. New research from TransUnion (NYSE: TRU) on tenants and jobs found that more than one in four property managers (27%) who are aware of the practice now report rent payments to rental reporting agencies. credit, of which almost a third have done so since January 2020 .

This is a significant increase since TransUnion last conducted similar research in early 2019 and found that only 17% of property managers were reporting rent payments at that time. The research included two surveys conducted in February and March 2022, with responses from more than 350 multi-family executives and 2,039 adults who rent the house or apartment they currently live in. Full results are detailed in the TransUnion report quick guide, How Gen Z is making rent payment reporting an industry standard.”

“We have seen progress in property managers’ adoption of rent reporting over the past two years; however, there is clearly still room for the number of companies reporting to grow,” said Maitri Johnson, vice president of tenant screening and employment at TransUnion. “With a strong push from Gen Z tenants, who make up a significant portion of the tenant base today, we will likely see reporting become an industry standard and, therefore, a critical mass of tenants who can raise their standard of living through better access to credit.

The survey also aimed to understand why property managers decide whether or not to report rent payments to credit reporting agencies, as well as their perceptions of the process.

Top 3 Reasons to Report The 3 main reasons not to report
1. Help residents build credit (80%) 1. The process takes too long (22%)
2. Encourage residents to pay on time (71%) 2. I don’t know what to do (21%)
3. Attract financially responsible residents (49%) 3. Too much work/I don’t see the benefit (20%)

While 72% of property managers who say they do pay rent say the process is fairly easy or very easy, only 28% of property managers who do not reporting rent payments expect this to be the case.

When asked to identify benefits that would convince them to start reporting rent payments, 70% of property managers said they were at least somewhat likely to report whether it meant attracting tenants who pay on time . Additionally, 69% were at least somewhat likely to say whether it reduced the risk of kicking and jumping.

On the other hand, when tenants were asked how reporting their rent payments to credit reporting agencies would influence their behavior, 77% said they would be more likely to pay on time.

Consistent with these findings, third-party data providers and industry associations are increasingly vocal in their support of rent reporting.

“We chose to start reporting monthly rent payments to TransUnion because we believed the people we serve needed an opportunity to be able to build their credit and financial future,” said Jim Rowley, Head of RentPlus. at Rent Dynamics. “TransUnion has been a great partner in this venture, with industry-leading data and analytics solutions and unparalleled knowledge of the multifamily industry.”

“Consumers should literally get credit for paying rent,” said Eric J. Ellman, senior vice president, public policy and legal affairs, Consumer Data Industry Association. He added: “The more information the credit reporting system includes to prove their creditworthiness, the more it can help consumers access fair and affordable credit.”

Noting this trend, Johnson added, “There is tremendous opportunity in this space, especially as the national conversation focuses on financial inclusion, a key strategic initiative for TransUnion. We need to expand access to financial goods and services to more consumers, especially those with little or no credit profile. Reporting rent payments is a win-win for these consumers and property managers because it attracts responsible tenants and rewards them for timely payments. »

Gen Z ahead of the curve

In its survey of tenants, TransUnion found that more than half know that rent payments can be reported and are at least somewhat interested in having their rent payments reported. These sentiments are more pronounced among Gen Z, as 60% know about and want their rent payments reported.

This interest is also put into action as 27% of Gen Z renters say their rent payments are reported. This is significant, given that only 15% of all tenants have their payments reported. A related finding: 59% of those who have rented for five years or less say they are interested in having their rent payments reported, compared to 47% of those who have rented for more than five years.

“Increasingly, younger tenants are looking for property managers who offer this service, which reinforces the competitive differentiation of property managers,” Johnson said. “It’s clear that Gen Z understands value and, as they gain influence in the market, will likely drive more property managers to report.”

Research also indicates that rent reporting has a positive impact, as more than 70% of those whose rent payments are reported to credit reporting agencies see an improvement in their credit rating. As a result, they plan to leverage their higher scores for material lifestyle improvements: 41% will apply for a personal loan; 38% will apply for a mortgage; and 28% will apply for a car loan.

“Ultimately, rent payment reports help more people access credit that can positively change their lives,” Johnson said. “Greater financial inclusion is good for the industry and good for consumers, and I’m glad to see it gain traction.”

For more information on research, read the Quick guide, “How Gen Z is making rent payment reporting an industry standard.”

Property Managers: Start helping your tenants build credit by reporting rent payments.

Are you a tenant interested in improving your credit score? Read TransUnion’s blog to learn more about how rent payment reports can help you. Renters can also read TransUnion’s guide “How to Read Your Credit Report.”

About polls

The online tenant survey took place in February 2022 and included responses from 2,039 tenants aged 18 and over who rent the house or apartment they currently live in. The survey of property managers took place in late February and early March 2022 and included responses from 353 multi-family executives.

About TransUnion (NYSE: TRU)

TransUnion is a global information and knowledge company that enables confidence in the modern economy. We do this by providing an actionable picture of each person so they can be reliably represented in the marketplace. As a result, businesses and consumers can transact with confidence and achieve great things. We call it Information for Good.® A leading presence in more than 30 countries on five continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people.


Contact Dave Blumberg
Trans Union
E-mail [email protected]
Phone 312-972-6646

Legacy Urban Revitalization presents do-it-yourself credit repair for a dollar


With their new DIY offering, Legacy Urban Revitalization gives its users the tools to improve their credit score by removing invalid collection accounts, late payments, and $1 charges. Customers can remove any errors from their credit file and restore their credit score.

Legacy Urban Revitalization believes that everyone has the right to an accurate credit report. So, using its new DIY product, the company walks its customers through the credit repair process and helps them if they need their exclusive credit repair services. The only thing the customer has to pay for is a monthly credit monitoring subscription. As the team works toward their clients’ financial goals, they also recommend credit-building offers like credit cards and loans. If users choose one of these tailored offers, the providers compensate the business, not the customer.

Legacy Urban Revitalization offers customers the ability to start repairing their credit for $1. Users can stop paying credit repair companies for credit repair. As most know, payment for credit repair can range from a one-time fee to a fee for each inaccuracy removed or even a rolling monthly payment. However, the Credit Repair Organizations Act states that credit repair companies cannot seek or receive compensation until the promised services have been provided. But most do! And often, the consumer is left with minimal results.

Also, applying for something like a mortgage or a car loan is difficult if users have bad credit. It’s incredibly frustrating if they’ve paid a company to work on improving their credit but have seen little or no results. After some thought, Legacy Urban Revitalization has come up with a strategy to repair the credit of its users and customers in an easy and hassle-free way.

It works consistently. When users sign up for their service, they must choose which items on their credit report they believe are incorrect, unfair or questionable. They can then contact their creditors in writing to demand their cancellation. If creditors fail to correct the errors, users can lobby the credit bureaus with new information as to why this item needs to be removed from their reports. Plus, as customers’ credit scores improve, they provide personalized recommendations for credit-building products such as low-interest credit cards, personal loans, and auto and home loans. .

Legacy Urban Revitalization can manage everything for its users, and it’s free! Simply purchase credit reports through their partner credit monitoring provider!

Visit https://www.fastfixesdiy.com/ and learn more about their services or join their Facebook group https://www.facebook.com/groups/1445916368881065

Media Contact
Company Name: Legacy Urban Revitalization, Inc
Contact person: Media Relations
E-mail: Send an email
City: Atlanta
State: Georgia
Country: United States
Website: www.FastFixesDIY.com

Families affected by dangerous payday loans


FOX13 Investigates focuses on what some have said is the dangerous and tricky nature of payday loans.

They are used by people who need money quickly, but many find themselves unable to pay them back. They can lead to a cycle of indebtedness that, according to one report, primarily affects blacks and browns in Memphis.

A man who was too embarrassed to be publicly identified shared his story with FOX Investigates.

“You have a person reaching out and they’re trying to help you up, but then they put their foot on your shoulder trying to hold you down,” he said. “In this scenario, you will never get out.”

He and his wife said they were stuck in a cycle of financial debt that started with heartbreak and a need for money.

“We had three deaths in the family and we needed time off. And when we left, we were late. So, we thought we had to get it so we could catch up,” he said. He said he and his wife took 15 days off.

He said that was when he saw a TV advert for Advance Financial in Millington.

It’s one of more than 100 so-called high-cost lenders in Memphis and surrounding areas, providing borrowers with quick cash loans at sky-high interest rates of 280 or 460 percent. , amounts permitted by Tennessee state law.

The loan money is recovered by drawing from the borrower’s bank account for regular withdrawals whenever there is money in it, no matter how much money and no matter what other bills he has. requires.

“They didn’t even tell us about the interest rate. They didn’t tell us how much we were going to have to pay back. They didn’t tell us when they were going to start,” he said.

The $1,100 spent on paying off the loan each month was more than his rent.

A new report from the Memphis-based Black Clergy Collaborative and Hope Credit Union, a black-owned bank, sheds light on what the authors call “debt traps.”

The report points out that the loans are, in its view, “marketed as a quick financial solution”, but “instead create a cycle of long-term debt”.

“Just because an individual is poor doesn’t mean you have to exploit that individual,” said Reverend Darrell Harrington, the group’s economic chairman and senior pastor of New Sardis Baptist Church in Memphis.

The study says there are 114 high-cost lenders in Memphis, double the number of McDonald’s and Starbucks combined.

Of the 114 storefronts listed, 65% belong to nine companies located in other states; 51 of them are owned by just two companies.

“Millions of dollars are flowing out of the pockets of those who are more vulnerable than if they weren’t plowed back into the community,” said Bill Bynum, CEO of Hope Credit Union, which offers loans with up to 18% interest. . designed to help borrowers rebuild their credit.

“Unless they provide services at a responsible and not 400% affordable rate…they shouldn’t be allowed to operate,” Bynum said.

Visit the Hope Credit Union website here

Download the FOX13 Memphis app to receive alerts on breaking news in your neighborhood.


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The banks, which include Bank of America Corp., Citigroup Inc. and an array of other major financial institutions, flagged the “recently obtained records” in a letter to U.S. District Judge Jesse M. Furman, who oversees the class consolidated antitrust. action against them in federal court in New York.

The files consist mainly of…

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US Bank announces 2 new credit card bonuses for businesses


Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We earn commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners.

US Bank announced new welcome offers for its business credit cards, the U.S. Bank Business Leverage® Visa Signature® Card and the US Bank Corporate Platinum Card. Each card offers valuable purchasing power and benefits to help business owners. However, their characteristics vary widely, so be sure to read on to find out which card and bonus would benefit you the most.

Select has analyzed the card’s benefits and features to see if they’re worth a place in your wallet and how you can select the best business credit card for your needs.

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US Bank introduces two new bonuses

US Bank tends to get overlooked when it comes to credit cards, but its products can add real value. Both business cards below have discounted welcome bonuses, including a $750 welcome offer and an interest-free introductory period on purchases and balance transfers.

Here’s what you need to know about each card.

U.S. Bank Business Leverage® Visa Signature® Card

the U.S. Bank Business Leverage® Visa Signature® Card is for business owners who want to recover money from business expenses. By spending on the card, you will earn:

  • 5% cashback on prepaid hotels and car rentals booked directly through the Travel Rewards Center.
  • 2% back in your top 2 categories where you spend the most each month, automatically.
  • 1% cashback on all other qualifying purchases

The 2% cash back categories are automatically chosen based on your spending habits: you don’t need to pre-select them and they automatically adjust each month to where you spend the most. There are 48 categories where you can earn 2% cash back, including advertising and office supply stores, you can find the complete list here.

And for starters, you can earn $750 in rewards when you make $7,500 in qualifying purchases on the account holder card within the first 120 days of opening your account. Including the expenses to get there, you’ll earn at least $825 in cash back in the first four months. And the best part is that the cash back you earn with the card is completely tax free.

With the card, you also have access to US Bank’s in-house buy now, pay later product — US Bank ExtendPay™. With qualifying purchases, you can spread payments over multiple months with no interest charges. You’ll still earn the same rewards and only pay a small monthly fee.

Finally, the card has an annual fee of $95, waived the first year. All employee cards are also free and there are no foreign transaction fees.

If you’re looking for a business credit card with a big welcome bonus and flexible spending categories, the U.S. Bank Business Leverage® Visa Signature® Card is a worthy competitor.

U.S. Bank Business Leverage® Visa Signature® Card

On the secure site of US Bank

  • Awards

    5% back on prepaid hotels and car rentals booked directly in the Travel Rewards Center, 2% back in your top 2 categories where you spend the most, automatically, and 1% back on all other purchases eligible

  • welcome bonus

    $750 in rewards when you spend $7,500 in qualifying purchases on the account holder card within the first 120 days of opening your account.

  • Annual subscription

    $95, waived the first year.

  • Introduction AVR

  • Regular APR

    16.24% to 21.24% (variable)

  • Balance Transfer Fee

    An introductory fee of 5% of each transfer amount or $5 minimum, whichever is greater for balances transferred with this app. After that, either 3% of each transfer amount or $5 minimum, whichever is greater.

  • Foreign transaction fees

  • Credit needed

US Bank Corporate Platinum Card

the US Bank Corporate Platinum Card is a solid choice for business owners who need flexible repayment terms for purchases or existing balances on other credit cards.

With this card, you’ll get 0% introductory APR on purchases and balance transfers for 20 billing cycles. After that, a variable APR from 12.24% to 21.24%. It’s a great way to make a significant investment in your business or transfer existing credit card debt and pay no interest for the introductory period.

Additionally, the card offers the option to use US Bank ExtendPay to split qualifying purchases over $100 into equal monthly payments.

The card has no annual fee.

If you’re not concerned about rewards, but want a business card that can fund certain purchases without interest, the US Bank Corporate Platinum Card is an excellent choice. In fact, this APR intro period is currently the best among all business credit cards.

US Bank Corporate Platinum Card

On the secure site of US Bank

  • Awards

  • welcome bonus

  • Annual subscription

  • Introduction AVR

    0% Intro APR on purchases and balance transfers for the first 20 billing cycles, then a variable APR, currently 12.24% to 21.24%.

  • Regular APR

    12.24% to 21.24% (varies)

  • Balance Transfer Fee

    Either 3% of the amount of each transfer or $5 minimum, whichever is greater.

  • Foreign transaction fees

  • Credit needed

How to choose a business credit card

Business credit cards come in many shapes and sizes. Some may have modest benefits and no annual fees, up to having to pay close to $1,000 a year for a card with flashy features.

But, when you start analyzing different business credit cards, keep these few factors in mind:

Annual subscription

There’s nothing wrong with paying an annual fee for a credit card, as long as you earn more rewards and perks along the way. And as a small business owner, the annual fee can be deducted from your taxes as a business expense.

Regardless of delisting, it is imperative to check your budget to see if you can afford the annual fee.

Usable Perks

Some business credit cards come with a ton of features, but it’s important to sift through them to understand which ones are actually useful for your business. For example, the Business Platinum Card® from American Express has a long list of benefits for business owners, including statement credits at: Dell Technologies, Indeed, Adobe Creative Solutions, and wireless phone services.

But if your business doesn’t need any of these services, it’s harder to extract value from the card. So while more perks are always a good thing, make sure you’re realistic about the perks you can enjoy. Otherwise, you could be wasting money on annual fees for benefits you wouldn’t otherwise use.

The Business Platinum Card® from American Express

On the secure site of American Express

  • Awards

    Earn 5X the Membership Rewards® points on prepaid flights and hotels on amextravel.com and 1X the points for every dollar you spend on qualifying purchases. Also earn 1.5x the points on qualifying purchases from US building materials and hardware suppliers, electronics retailers, and software and cloud system vendors, and shipping providers, as well as purchases of $5,000 or more everywhere else, up to $2 million of those. purchases per calendar year.

  • welcome bonus

    Earn 120,000 Membership Rewards® points after spending $15,000 on qualifying purchases within the first 3 months of card membership

  • Annual subscription

  • Introduction AVR

    0% Intro APR for 12 months from date of account opening on purchases eligible for Pay Over Time

  • Regular APR

  • Balance Transfer Fee

  • Foreign transaction fees

  • Credit needed

At the end of the line

For rates and fees for the Business Platinum Card from American Express, click here.

Editorial note: Any opinions, analyses, criticisms or recommendations expressed in this article are those of Select’s editorial staff only and have not been reviewed, endorsed or otherwise endorsed by any third party.

How to buy a house with little or no money – Forbes Advisor


Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors.

For many homebuyers, saving for a down payment can seem like a huge hurdle, especially with soaring home prices. But there are mortgage options designed specifically for those who can’t save the standard 20% down payment on the loan amount or don’t want to wait until they do.

Here are some of the most popular mortgage options that require no down payment or just a little cash to get you into home ownership as soon as possible.

Options for a No Down Payment Mortgage

The main way to get a mortgage with no down payment is to take out a government guaranteed loan. These loans are federally insured, which means the lender does not have to bear all the risk in the event of a default resulting in foreclosure. This encourages the lender to offer you more favorable loan terms. There are several main options for a no down payment mortgage that are backed by the government.

1. Veteran Loans (VA)

VA loans are made by private lenders such as banks, credit unions, and mortgage finance companies, and partially guaranteed by the Department of Veterans Affairs.

VA loans typically have little or no down payment requirements and lower interest rates than traditional mortgage products. These loans also tend to be more flexible, allowing for a higher debt-to-income ratio (DTI) and lower credit scores, and do not require private mortgage insurance (PMI).

VA loans don’t require a down payment as long as the sale price is at or below the appraised value of the home. The “VA Home Loan Guarantee” is an agreement that the VA will reimburse a lender in the event of a loss due to foreclosure – this replaces your down payment.

VA Loan Eligibility

To be eligible for a VA loan, you must:

  • Be a veteran, active duty member, member of the National Guard, reserve, or surviving spouse of a veteran
  • Have a Certificate of Eligibility (COE) from the VA

Other requirements vary depending on whether you are active duty or former member of the military, whether you served or are serving in the National Guard or Reserve, and when you served. View the full list of VA Loan Eligibility Requirements.

2. USDA Loans

The United States Department of Agriculture (USDA) provides homeownership opportunities for low- and middle-income Americans through several loan, grant, and loan guarantee programs.

These USDA low-interest, fixed-rate loans are issued directly through USDA Rural Development. Financing is also available as a loan from a lender and guaranteed by USDA Rural Development for qualified borrowers.

  • Section 502 Direct Lending Program: This program helps people with low and very low incomes living in eligible rural areas by providing payment assistance to improve their ability to repay the mortgage – a key indicator that lenders look at when determining whether to approve a loan. The amount of payment assistance is determined by your income.
  • Section 502 Secured Loan Program: This program works with approved lenders to provide low- and middle-income households with mortgage loans to purchase homes in eligible rural areas. The program offers a 90% guarantee to approved lenders to reduce the risk of providing 100% loans to eligible rural home buyers.

None of these home loan programs require a down payment, but you must live or plan to live in a eligible rural area to qualify.

USDA Loan Eligibility

In addition to buying from an eligible location, specific USDA loan terms include:

  • The home you buy must be your primary residence
  • You must demonstrate that you can manage your debts
  • Your DTI ratio must be 41% or less

Income limits for USDA loans also vary by program and location. For secured loans, your income cannot exceed 115% of the median income in your area. Income caps for direct-issue loans are much lower, as low as 50% of median income in some areas.

3. No down payment home loans with private lenders

You don’t have to rely solely on government-backed programs to get a mortgage with a no-down payment option. Some financial institutions also offer no down payment mortgages, although they are not as widespread as before the financial crash of 2008.

No-Down Lender Eligibility

Examples of lenders that offer no down payment loans include North American Savings Bank and Navy Federal Credit Union. Navy Federal does not require PMI, but you must be a member to qualify. The NASB only offers this mortgage to borrowers with a credit score of 700 or higher.

If you are considering this option, be sure to contact the lender directly to learn more about their offerings before applying.

Pros and Cons of a No Down Payment Mortgage

While it may seem tempting to have to put less money down on a mortgage, there are some things to consider before signing up.

Advantages of No Down Payment Loans

  • You don’t have to deplete your cash reserves (or wait until you’ve saved enough) for a big down payment
  • You don’t have to worry about paying mortgage insurance on top of your loan payments, in most cases.
  • You will get more favorable terms from the lender if it is a government guaranteed loan

Disadvantages of no down payment loans

  • If the loan is not guaranteed by a government entity, it will likely carry a higher interest rate
  • The lender will generally charge higher origination and financing fees
  • You generally need a good credit score to qualify

Options for a mortgage with little money down

If you don’t qualify for a no down payment mortgage, there are still several ways to buy a home without having to put down a large down payment up front. These options can go down to 3%.

1. FHA Loans

Federal Housing Administration (FHA) loans are insured by the FHA, which licenses certain lenders to offer the product. These loans are intended to help low- to middle-income borrowers purchase a home.

An FHA borrower can qualify with a lower credit score than required for conventional mortgages and buy a home with a smaller down payment compared to other loan options.

For this reason, FHA mortgage interest rates can be a bit higher.

FHA loan requirements

Specific requirements needed to qualify for an FHA loan include:

  • A minimum credit score of 500
  • A deposit of at least 3.5%
  • The accommodation must be your main residence
  • Home appraisal must be done by an FHA-certified appraiser
  • Property inspection must meet minimum eligibility standards
  • A maximum loan-to-value (LTV) ratio of 96.5% if your credit score is 580 or higher; or 90% if your score is below 580
  • A cap on the loan amount, depending on the type of property and the cost of living in that area

2. HFA Loans

Another affordable mortgage option is financial assistance provided by your state’s Housing Finance Agency (HFA), usually in partnership with a local lender. HFA homeownership programs differ by state, but all aim to promote homeownership and increase mortgage affordability for first-time homebuyers as well as low-income households. low and medium.

HFAs offer first mortgage products to eligible borrowers that require very little money and offer reduced interest rates, as well as assistance with down payment and closing costs. Once these loans are made, the HFAs buy them from the lenders.

3. Other HFA Homeownership Programs

These programs include low interest or low (or zero) down payment mortgage products. They can also offer down payment and closing cost assistance as well as mortgage tax credit certificates, which allow you to claim a federal tax credit of 20% to 40% of the mortgage interest you pay every year. calendar year.

HFAs also offer a grant or second mortgage to cover your down payment and/or closing costs. Most HFAs require these down payment assistance programs to be used in conjunction with an HFA loan.

4. Fannie Mae’s HomeReady Mortgage

Mortgage giant Fannie Mae offers the HomeReady mortgage product. It allows low-income homebuyers to finance up to 97% of their home purchase, which means you can make down payments as low as 3%. To be eligible, you must:

  • Being a low income borrower
  • Be a first or repeat buyer
  • Have a credit score of 620 or higher (a score above 680 guarantees better loan terms)
  • live at home
  • Take a homeownership course if you’re a first-time homebuyer

5. Possible mortgage at Freddie Mac

Home Possible is Freddie Mac’s mortgage product for low-income borrowers. Unlike Fannie’s option, you don’t have to pay a deposit. If the mortgage is for a single-family property, including a manufactured home, borrowers with no credit score can finance up to 95% of the home purchase. To be eligible, you must:

  • Earn less than 80% of your region’s median income
  • Use the house as your main residence
  • Have a minimum credit score of 660 if your lender does not use their automated loan product advisor tool

Advantages and disadvantages of a low down payment mortgage

It’s important to weigh all of your mortgage options before committing to a low down payment loan, as other costs may rise to compensate for putting less money up front.

Advantages of Low Down Payment Loans

  • Putting as low as 3% means you can afford to buy a house sooner
  • Less down payment means more savings available to cover other related expenses like closing costs
  • You will have money left over to buy new furniture or to increase your emergency fund

Disadvantages of Low Down Payment Loans

  • You will have to pay the PMI (usually until you have accumulated at least 20% equity)
  • Your interest rate and monthly mortgage payments will be higher
  • You will have to pay more in set-up and financing fees
  • Since you haven’t invested a lot of money, your house could end up worth less than you owe if house prices drop (negative equity)

Faster and easier mortgages

Check your rates today with Better Mortgage.

Innovative Consumer Credit Market Strategy to 2031 – Bloomingprairieonline


Proposal consumer credit market The report will encompass all qualitative and quantitative aspects including market size, market estimates, growth rates and forecasts and hence will give you a holistic view of the market. The study also includes a detailed analysis of market drivers, restraints, technological advancements, and competitive landscape along with various micro and macro factors influencing the dynamics of the consumer credit market.

the consumer credit market the sample report includes exclusive analysis of the COVID-19 pandemic on the market space under consideration. The sample represents the format of the overall study which is designed to clarify the structure of the consumer credit report and some data points demonstrated with the aim of giving insight into the quality of the study.

Moreover, the consumer credit market A comprehensive research study is designed due to the fact that each segment is individually assessed and then collated to form the entire Consumer Credit market, the study can be customized to meet your exact requirements.

Request sample pages from this study at @marketreports.info/sample/10800/Consumer Credit

The structure of the consumer credit market report can be categorized into the following sections:

  • Division 1: Consumer Credit Report Scope and Research Methodology
  • Division 2: Key points of consumer credit
  • Division 3: Consumer credit market variables and their impact on growth and analytical tools providing high-level insights into market dynamics and growth pattern
  • Division 4: Consumer credit market estimates and forecasts (with base year 2021, historical information from 2015 and 2020 and forecast from 2022 to 2030). Regional and country level estimates and forecasts for each category that are summarized to form the global Consumer Credit market.
  • Clause 5: Consumer credit competitive landscape. Attributes such as strategic framework, competitor categorization are included to provide in-depth details about the consumer finance market structure and strategic commitments and their impact.

Get Instant Cashback @ marketreports.info/discount/10800/Consumer Credit

The major/emerging players in the consumer credit market The research includes:

BNP Paribas, Citigroup, HSBC, Industrial and Commercial Bank of China (ICBC), JPMorgan Chase, Bank of America, Barclays, China Construction Bank, Deutsche Bank, Mitsubishi UFJ Financial, Wells Fargo

By Type– Cloud– On Premise By Application– Individual– Enterprise– Other

the consumer credit market Company profiles are represented individually for all major participants and indices such as financial performance, strategic initiatives, product portfolio and company overview.

Company presentation:

The consumer finance company overview provides information about the location of the company where it is headquartered along with the year established, headcount of employees as of 2022, regions where the company operates and main areas of activity.

Financial performance of consumer credit:

The global consumer credit company/segment revenue for the years 2021, 2020 and 2019 is provided in the subheading Consumer Credit (Publicly Listed Companies) with the Analysis and Explanation increase or decrease thereof due to factors such as mergers and acquisitions, profit or loss in any strategic consumer finance business unit (SBU) and others.

Comparative analysis of consumer credit products:

The product benchmarking includes the complete list of products relating to the respective consumer credit market along with the key application and features.

Strategic initiatives:

Consumer credit information regarding new product launch, strategic collaboration, mergers and acquisitions, regulatory approval and other company developments in the market are covered in the strategic initiatives section.

Order a copy of this consumer credit research study at @marketreports.info/checkout?buynow=10800/Consumer Credit

the consumer credit market The research study is designed keeping in mind all the major countries. Although all these countries and their consumer credit market trends have been considered while composing it, detailed sections are only available for spearheads. In case you are interested in specific countries that are not covered by the current scope, please share the list and we can customize the study according to the geographical scope you have defined.

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This startup aims to help MSMEs meet all business and digital needs on a single platform

From accounting to compliance regulations to reconciling payments, small businesses often struggle to keep up with the complexities of running a successful business.

“The problem was to help businesses in India grow, digitize and modernize. The genesis of Treflo was to be the default platform for all their digital needs when it comes to SMEs in India,” explains Rahul Meena, Founder and CEO of Treflo.

Founded in 2020 in bangalore, Treflo began as a B2B (business-to-business) marketplace startup for e-commerce and FMCG categories. Here he was immediately successful, generating annual revenue of $2 million.

In January 2021, Treflo took a new direction focusing on ways to help small and medium-sized enterprises (SMEs) grow and digitize their businesses.

Treflo is a freemium app, with the majority of its vast suite of services and core features being free.

The platform offers a cloud-based mobile business management platform for SMBs, providing easy workflows to automate and simplify tedious business tasks.

Treflo’s product suite includes a free GST invoicing application, electronic invoice generator and B2B commerce solutions.

“The ingenious platform can potentially help save countless hours by automating tedious compliance tasks such as electronic freight bill generation and GST filing processes for the 80% of sole proprietors among the 64 million of MSMEs (micro, small and medium-sized enterprises). The platform’s technological prowess allows family businesses or small business teams to scale their business efficiently and automate all trivial tasks,” says Rahul.


According to Rahul, Treflo’s USP is driven by its primary goal of enabling the power of financial analysis and business management to MSMEs in a format and language they can understand.

The artificial intelligence and machine learning (AI/ML) based solution can provide growth insights to SMBs and warn them of possible dangers, allowing them to plan for the future and grow rapidly.

The 10,000 partners in the Treflo community have helped keep the startup focused on the most important issues facing small businesses, the founders say.

“We are passionate about democratizing the tech space for SMBs, creating interactive technology platforms rather than passive tools as seen with our other competitors,” Rahul told YourStory.

Treflo competes with MyBillbook, Vyapaar and ClearOne from ClearTax.

“Despite significantly larger marketing budgets and technical teams, they were unable to convince value-conscious SMBs looking for simpler, faster and cheaper options,” says Rahul.

The team

Treflo is led by Rahul, the CEO and founder, with Pradeep Bhat, Sagar Dash and Ankit Garg as co-founders. They form the core Treflo team that oversees the day-to-day operations of the business.

With the accumulated experience of 10-15 years in building and scaling technology products, Treflo’s anchor team claims to have worked with some of the biggest players in the market, like Amazon, Gozefo, Samsung and Udaan, among others.

Sagar and Rahul worked for Niffler Labs, which was acquired by Tapzo (a Sequoia-backed company). Ankit and Rahul are band mates of IIIT Gwalior and have collaborated on many projects since college.

Ankit left Amazon to join Treflo in December 2020. Rahul and Pradeep launched Officepulse together in 2017, an enterprise SaaS startup automating final spend purchase categories for Indian businesses where they worked with names like WeWork , Tata Global Beverages, Swiggy, Ola and many other companies.

Treflo currently has a team of 30 employees.

Funding and monetization

Treflo is a seeded startup that began its journey with an investment of around $150,000 in the form of loans from friends and family.

“However, we are now in the middle of fundraising, 60% of the money coming from angel investors. The company is making money from B2B commerce through our marketplace. Recently, we have stopped developing market and we are focused on the SaaS product, but we are still making over $2 million in revenue from the FMCG and electronics businesses,” says Rahul.

As with other businesses, Treflo has had to deal with the challenges posed by the COVID-19 pandemic.

“It’s been difficult to keep teams together during the shutdowns and to keep them aligned with business goals, as their personal lives have been hugely impacted. For the past 2 years we have had to rigorously adapt almost every quarter, they say the boot ride is a bumpy rollercoaster ride. Add the effects of the pandemic and its influence, the roller coaster might as well be damaged and rusty, it’s a surprise that they even work,” adds Rahul.

The path to follow

India is home to 64 million MSMEs, of which 13 million are registered under the GST. According to a report by the Ministry of MSMEs, Indian MSMEs contribute about 31% to India’s GDP, which is expected to reach 40% by 2025.

As the MSME software landscape continues to evolve, a report by Grand View Research suggests that the global enterprise software and services market size was valued at $429.59 billion in 2021 and is expected to expand to a compound annual growth rate (CAGR) of 11.7% from 2022 to 2030.

“In this global market, India’s contribution is 16%,” says Rahul.

“With such a massive market, there is a lot of rivalry. With our execution capabilities, we are confident of taking a substantial slice of the market share. Our team has extensive expertise in building and growing technology from scratch,” adds Rahul.

Treflo has a pan-Indian presence with a majority of customers from Maharashtra, Karnataka, Gujarat and Uttar Pradesh. It currently has a user base of over 10,000 companies. Some of its clients include Greenwood Energy, Max Agency, Daya Charan and Company, Vardhman Trading Company, Raindew Commerce, Orbit Sales and Varni Raj Industries among others.

“Our financial maneuverability is built around the SaaS-based subscription revenue model. We are currently growing at a 250% MoM rate and working hard to maintain the growth trajectory. Our goal is to capture a significant market and to gain one million customers by the end of 2022. We plan to acquire $10 million in payments through our digital payment solution for SMEs,” says Rahul.

Edited by Affirunisa Kankudti

Parliamentary panel proposes credit cards for MSME entrepreneurs


The Parliamentary Standing Committee on Finance (SCOF) would have proposed to provide a credit card to MSME entrepreneurs similar to Kisan credit cards with the aim of providing small businesses with access to credit and integrating them into a formal financing system.

The aim is to help small businesses with working capital, trade finance, provide capital loans at affordable rates and the necessary credit guarantees, according to Economic times. The plan is to do this by registering in the Udyam portal and automatically obtaining the Vyapar credit card.

Currently, only 6.34 million MSMEs, which represent less than 40% of MSMEs in the country, have borrowed from the formal financial system.

Former Minister of State for Finance and Chairman of the Commission Jayant Sinha believes that such a platform will provide MSMEs with an affordable line of credit. Last week, Chief Economic Advisor V Anantha Nageswaran noted that bank lending was beginning to recover, especially in the MSME sector at an event organized by AIMA.

(Representative image)

During the 2022 Union Budget, which focused on three pillars of inclusive wellbeing – financial aid, digital transformation and upskilling – Finance Minister Nirmala Sitharaman reiterated his commitment to creating a strong ecosystem for MSMEs and startups.

The government has also ensured that MSMEs can avail themselves of the credit needed to cope with the pandemic-stricken economy by extending the Emergency Credit Line Guarantee Scheme (ECLGS) until March 31, 2023. .

It had provided credit support of an additional Rs 2 lakh crore to MSMEs in the form of a Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE).

According to Arun Poojari, co-founder and CEO of Cashinvoice, “supply chain finance is a readily available solution that offers a sustainable alternative, both for the immediate present where cash on hand is at a premium, and at future, as Indian MSMEs seek to grow.”

However, the ongoing war between Russia and Ukraine has had a significant impact on the Indian MSME sector with the unexpected supply chain disruption.

Here are some numbers behind Elon Musk’s bid to acquire Twitter


I have an urgent message for Elon Musk: When the number 58,008 is reversed on a calculator, the 8 looks like a B and the 5 looks a bit like an S, resulting in an informal anatomy term that makes every time laughing young school children. Rhymes with “tubes”. It’s a potential game changer for the attempt


to resume.

You see, naughty numbers play a central role in Musk’s math. His $54.20 bid for Twitter (ticker: TWTR) is not based on the current risk-adjusted value of anything in the future. This just took Twitter’s price of $45.85 before the deal was announced and determined the next highest price that contains 420, a nod to cannabis culture that references the lighting at 4:20 p.m. plug

You’re here

private at $420. Financing assured.

Nowhere, by the way, does Professor Aswath Damodaran discuss this pricing model in the third edition of Investment Valuation: Tools and techniques to determine the value of any asset.

Musk has another favorite number, and decorum prevents me from precisely explaining its meaning here. Let’s just say that the numbers 6 and 9, when placed in close proximity, evoke a certain non-financial merger of two willing parties. “Due to inflation 420 has increased from 69,” the world’s richest person tweeted in November.

Speaking at a TED talk last Thursday, Musk explained — you might want to hydrate and pack a compass for that long walk — that a book called The Hitchhiker’s Guide to the Galaxy refers to 42 as the answer to life’s ultimate question, and that 42 times 10 is 420, and it is possible to have a triangle with angles measuring 42, 69, and 69 degrees.

Nowhere is this even mentioned in Geometryby Ray C. Jürgensen.

I’m pretty sure Musk is making a running meta-joke about the absurdity of a brilliant engineer and consummate business leader inserting unscholarly references into scholarly settings.

It’s not super funny, but it’s been trending a lot on Twitter, and Musk continues the bawdy numerology laughs with the same persistence he used to upend space travel and the global auto trade. All of this has led to scattered, half-joking speculation that in a few days, on 4/20, he will be increasing his Twitter offer to $69.

On the mark but unlikely, I say, and not just because Musk called $54.20 his best and final offer. Its current offer is bullish, but not absurd. Before Musk went to court, Twitter stock was below $40, five dollars lower than it was at the end of its first day of trading in 2013. But it also topped $70 a day. last year. The new management has a plan, or at least a goal, to exceed $7.5 billion in revenue by 2023, a doubling in three years, while reigniting user growth.

Suspend disbelief about whether Twitter’s goals are achievable. Then extrapolate to 2025 and $10 billion in revenue; apply energetic software multiple of four to five times this far theoretical income; pause for a few ounces of fine rye whisky; then consider that Musk can borrow cheaply against inflated Tesla stock (TSLA) to pay for his $43 billion buyout. It’s all starting to look pretty reasonable.

But a key Twitter shareholder, Saudi Prince al-Waleed bin Talal and his Kingdom Holding Company, lamented that the offer fell short of Twitter’s “intrinsic value”. It’s a fancy term for a totally arbitrary price that gives the illusion of having achieved mathematical certainty – standard business school stuff.

On Friday, Twitter adopted a poison pill to prevent Musk from increasing ownership beyond 15%. Musk says he won’t remain a shareholder if his bid is rejected. Twitter recently traded at $45, well below the trade price. That leaves shareholders with a big potential move in either direction. (See our related article for perspective on what to do with stock.)

If Musk were to increase his offer to his other aforementioned favorite number, it would cost the deal $55 billion, which is an ambitious 5.5 times that speculative and far-off income. Musk says he’s not pursuing this deal to make money, but I doubt he’s doing it to lose money.

This is where my opening proposal comes in. A price of $58,008 per share for Twitter works out to a much more reasonable $46 billion and changes. Don’t tell Prince Talal what he spells when knocked down – he’ll appreciate that Musk’s use of a third decimal place suggests he takes intrinsic values ​​seriously. Twitter management might feel like Musk is meeting them at least halfway. And Musk will get his favorite editing platform for a meta-kidding price.

I’m sorry to interrupt this discussion of high finance for a few words about profit-making companies, but profit season has arrived. This week, companies representing 15% of the market value of the S&P 500 will release their quarterly results, followed by 48% the following week and 16% the following week. By Mother’s Day on May 8 (don’t forget those brunch reservations), the relative health of the stock market will have been revealed.

Expect good news. The index’s first-quarter earnings growth is pegged at 4.6%, a significant slowdown, but companies are no longer bouncing back from depressed levels. Grumps will point out that without windfall energy earnings, the estimate would be almost flat. Tell them that without the banks collapsing on Russia-related losses and the pinching of a flattened yield curve, earnings would rise by 14%.

Additionally, companies typically exceed earnings estimates. Factor that in and revenue could go up 9% or more, estimates

Swiss credit

Not all company reports are consolidated in the coming weeks. There are weirdos like


(NKE) and


Brands (CAG), both of which use fiscal years ending in May, and are therefore out of sync with the others.

BofA Securities would like you to know two things about the nearly two dozen companies whose results come in ahead of the others. Their rising earnings and revenue surprises have historically shown a 71% correlation with surprises for the rest of the companies. And this time around, early risers beat the estimates.

Write to Jack Hough at [email protected] Follow him on Twitter and subscribe to his Barron’s Streetwise podcast.

Biden’s claim that 70% of inflation jump was due to ‘Putin’s price hike’

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“What people don’t know is that 70% of the increase in inflation was a consequence of Putin’s price hike due to the impact on oil prices. Seventy percent.

– President Biden, remarks at North Carolina Agricultural and Technical State University in Greensboro, North Carolina, April 14

Two days after the Department of Labor reported that the consumer price index rose 8.5%, the fastest 12-month pace since 1981, the president made the above remarks, appearing to attribute much of the blame for the dismal inflation report on the Russian invasion of Ukraine.

Energy and food prices can be volatile and many economists focus on the “core” rate of inflation which excludes these items. But even that showed a rate of 6.5%, about 25% less than the overall rate.

So how can Biden make this claim? Many readers were eager for an answer – especially as some people on Twitter truncated his comment to be omitted “due to the impact on oil prices”, which makes it particularly absurd.

Let’s dig in the weeds. Turns out it doesn’t refer to the headline inflation figure.

The individual elements of the CPI report make for grim reading. Meat, poultry, fish and eggs increased by 13.7% from March 2021 to March 2022, used cars and trucks increased by 35.3%, air fares increased by 23.6% , butter jumped 12.5%, coffee rose 11.2% and clothing rose 6.8%.

Gasoline prices rose 48%, while overall energy prices rose 32%.

Energy is only 7.547% of the CPI basket of goods, so even with this big jump, how does Biden get to 70%?

Without saying it directly, it refers to the monthly variation in prices, and not to the annual variation.

Let’s go through the calculations, using the monthly numbers.

The price rose 1.2% from February to March. (This translates to an annual rate of 15.9%.) Now let’s express this increase in basis points, or one hundredth of 1 percentage point. So a jump of 1.2% would be 120 basis points.

Energy prices rose 11% last month. Since energy represents 7.547% of the basket, we multiply this figure by 11. This gives us 83 basis points. This is then divided by the total number of 120 basis points (83/120), resulting in 69.1%. In other words, that’s how much energy prices contributed to the monthly increase. Biden rounded that number up to 70%.

The White House Council of Economic Advisers made a similar calculation in a tweet it was released on April 12, after the report was released.

How did Biden implement this line in his remarks? He said: “Putin’s invasion of Ukraine has driven up gasoline and food prices around the world. Ukraine and Russia are the one and two largest wheat producers in the world. We are three. They are closed. We saw it in yesterday’s inflation data.

Many people might believe that the president was referring to the headline annual inflation report figure – 8.5% – and that Biden was saying that 70% of this digit was due to an increase in energy costs. We certainly did when we first heard that line. But if energy prices hadn’t risen at all in March, the 12-month price increase would still have been 7.6%.

A White House official pointed to the CEA tweet as an explanation for Biden’s comment, saying it should have been clear he was only referring to one month’s data because it wouldn’t make sense to claim that he war that started less than two months ago was responsible for a year’s worth of inflation. He noted that White House press secretary Jen Psaki had earlier in the week referred to the one-month data: “While energy accounted for 70% of monthly inflation in March on CPI data, it accounted for a substantial part of the PPI. [Producer Price Index] inflation too,” she told reporters on Wednesday.

Another way to look at it: excluding the increase in energy prices from last month’s 1.2% increase still translates to an annual rate of nearly 5% per year. (That’s 31% of an annual rate of 15.9%.) That can’t be blamed on the Russian invasion — and we highly doubt Biden would have thought such a high inflation rate would have been acceptable. one year ago.

This is one of those clever talking points that gets in the way when testing Pinocchio. Biden’s calculations are defensible, particularly because his full quote — not the truncated one circulating on Twitter — refers specifically to the impact of oil prices.

But at the same time, ordinary people would certainly have assumed that he was referring to the 12-month inflation rate, not the one-month figure. Moreover, even without taking into account energy costs, the inflation figure is relatively high. Most Americans care about the rate of inflation for the past year, not the past month.

We went back and forth on whether a certain level of Pinocchios was warranted. We were tempted to award Two Pinocchios, basically half true. We would certainly be more comfortable if Biden had referred specifically to the monthly inflation numbers. But he was referring to the invasion that started 50 days ago. So we’ll leave that without rating and let the readers decide for themselves.

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Forget the Fed, pay off your credit card debt


The cost of everything keeps rising. And if you happen to have credit card debt, that’s also likely to get a bit more expensive, thanks to a series of interest rate hikes starting this month.

With inflation at its highest rate since the early 1980s, the Federal Reserve is adjusting interest rates to hopefully stabilize the US economy. In short, the Fed changes the federal funds rate, which changes the prime rate – this is the rate banks charge customers with high credit ratings. Credit card issuers add to the prime rate to set their interest rates. So when the prime rate goes up, so does what you’ll pay when you’re in debt.

Do you have all that? Awesome. Now forget what you just read and pay attention to this part: if you have significant credit card debt, it doesn’t matter what the Fed does. Your credit card debt has always been and will continue to be expensive.

The true cost of credit card debt over time

If you have a balance on your credit card of $5,000 month over month and your interest rate is 16%, you will spend $800 in interest over the course of a year. If your interest rate increases to 16.25%, that translates to just $13 more in interest over a year.

Technically, this means it’s not so much a rate hike as a slight upward slope. But $800 was already a lot, and that’s without considering the fact that you’ll still have to spend extra money that you might not be able to pay back. Bills don’t stop just because you’re in debt.

That’s why squeezing a stress ball while watching the news isn’t helpful in this case. What helps is to face money problems head on.

“The hardest part is ripping off the bandage and adding up the numbers to see how much you owe,” says Akeiva Ellis, certified financial planner and founder of The Bemused, a financial education brand for young adults. “But if you’re able to get to that point, it’s really about making a plan. Don’t let your debt overwhelm you. The sooner you can face the numbers and devise a plan to pay it back, the easier you’ll breathe.

How to pay less interest

Shop for better deals

The average FICO score in the United States rose to 716 in August 2021, and this increase was more prevalent for those with lower credit scores. (FICO scores of 690 or higher are considered good credit). Tips. He recommends checking your credit report and score to see if you’ve moved to a higher score range. If so, you may be able to negotiate a better interest rate on your credit card.

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Consolidate your debts

This higher credit rating could also qualify you for a balance transfer credit card with an interest-free promotional period or a low-interest personal loan. These can both give you a high interest reprieve, but note that this depends on what terms you qualify for. And in the case of balance transfer cards, the interest rate will go up as soon as the 0% period ends.

Revisit your budget

The more money you can apply for your monthly credit card payment, the faster you can get out of debt. But that’s easier said than done in a time of rising prices. “Rising interest rates don’t live in a vacuum,” says McClary. “Other things keep happening that increase the financial pressures on every American.” If you’re not sure where to start, McClary recommends getting help from a financial advisor or nonprofit credit counseling agency. “Anything people can do to be proactive, they’ll thank themselves later.”

Use a debt repayment method

This can help you stay organized and motivated, especially if you have multiple debts at the same time. Ellis suggests the debt avalanche repayment method, where you list your debts from highest to lowest interest rate, make minimum payments on each, and apply any extra money in your budget to the highest debt. raised first. Once you’ve paid that, focus on the next debt on the list, and so on. “For most people, credit card debt is their most expensive debt,” Ellis says. “So that’s something that I usually encourage people to focus on first.”

• • •

About the Author: Sara Rathner is a NerdWallet travel and credit card expert. She has appeared on CNBC’s “Today”, Nasdaq and “Nightly Business Report”.

Here’s why your credit score matters and how to improve it


Pictures of people | Istock | Getty Images

In just a few months, mortgage rates have gone from just over 3% for a 30-year fixed loan to just north of 5%.

As potential buyers keep track of these numbers, there may be one thing they’re forgetting: their credit score.

The three-digit number has a big impact on the interest rate you’ll get on a mortgage. The higher the score, the lower the rate.

Credit scores range from 300 to 850. A good score is 670 to 739, a very good is 740 to 799, and 800 and above is considered excellent, according to FICO, one of the leading credit scoring companies. credit.

The mortgage rate for a 30-year fixed rate loan is now down slightly to 4.99%, according to Daily Mortgage News. To get that rate, your credit score would typically need to be above 740, said Glenn Brunker, president of Ally Home, which provides mortgage services and products.

Less than 740 and lenders start adding more costs to reflect the additional lending risk, he said. This is either added to the interest rate or paid separately in points. One point equals 1% of your mortgage.

“It doesn’t seem like a big deal, but when you think about adding an extra $20, $40, or $60 a month to your monthly payment because of a lower credit score, it can dramatically change your monthly budget and what you can afford,” Brunker said.

As mortgage rates are expected to continue to rise, consider lowering your credit score to take advantage of the best rates available. Here’s what you can do.

1. Check your credit report

Your The credit report is basically a history of your credit activity and includes payment histories, credit card balances, and other debts. A number of factors on this report help determine your credit score.

Writing your report before applying for a mortgage or pre-approval, ideally a few months in advance, will give you time to fix any issues you find.

Traditionally, you are entitled to one free credit report per year from the three major credit reporting companies: Experian, Equifax and TransUnion. You can contact each one directly or you can access them via annualcreditreport.com. During the Covid-19 pandemic, free admission was increased to once a week – but which expires on April 20.

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Also keep in mind that on July 1, Equifax, Experian and TransUnion are expected to remove all medical debts that have been sent to debt collectors and ultimately paid off.

“It could instantly improve someone’s credit rating dramatically,” said Ted Rossman, senior industry analyst at Bankrate and CreditCards.com.

“A person with a good credit score could lose 100 points or more if they have medical debt.”

2. Pay your bills on time

Late or missed payments can cause your score to drop.

The easiest way to avoid this is to set up automated payments for your invoices.

“Consistency in paying bills on time will improve your credit score,” said Tom Parrish, head of retail lending product management at Chicago-based BMO Harris Bank.

3. Reduce your credit utilization rate

Lenders will consider whether you have high balances on your credit cards.

Even if you pay your credit card bills in full each month, you can still have high usage, Rossman said.

For example, if you make purchases of $3,000 and have a limit of $5,000, you are using 60% of your available credit. Try to keep it below 30%, Rossman said. Those with the best credit ratings keep it below 10%.

Making an additional payment in the middle of the billing cycle can help reduce the balance before the statement comes out.

4. Consider a credit-generating loan

Some community banks and credit unions offer credit-building loans, which are designed to help the holder establish good credit as they make their payments.

You will pay interest, although some lenders may refund the fee after the loan is paid off.

5. Watch for additional credit inquiries

If you are looking to buy a house, avoid other expensive items, such as a car.

Also, do not open new credit cards or lines of credit, which will lead to more inquiries for your credit problem.

“If you have a high level of inquiries, it lowers your credit score,” Brunker said. “It sounds like you’re actively seeking additional credit and therefore at higher risk.”

Weigh the decision

If you decide to increase your credit score before applying for a mortgage, keep in mind that interest rates may be higher when you try to obtain a loan. Again, house prices may fall.

“We don’t know what’s going to happen with long-term rates and house prices,” Parrish said.

Brunker suggests those with a credit score between 700 and 740 go ahead with buying a home, while making an effort to clean up their credit score. For those with lower scores, first ask yourself if homeownership is the right decision and if you understand the true cost of homeownership, he said.

“If the answer remains yes, I would consider taking a break for a few months,” Brunker said.

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Child tax credit payments helped parents avoid selling plasma and take out payday loans


Monthly cash payments from the federal government last year may have helped some parents avoid taking out payday loans or selling their blood plasma to pay their bills.

According to a new report released with the Brookings Institution’s Global Economy and Development Program by researchers from the Social Policy Institute at Washington University in St. Louis and Appalachian State University.

Researchers found that 5.3% of CLC-eligible parents had borrowed from payday lenders before payments began in July but did not do so again, while only 3.3% of households in a control group also stopped borrowing from payday lenders.

Given that 36 million households received the monthly Child Tax Credit benefits, this means that nearly 2 million households may have moved away from payday loans, which carry high interest rates and, in some states , can be rolled over into another loan if the borrower does not pay.

“We noticed a significant drop in the number of families taking risky and damaging steps to make ends meet, such as payday or pawn loans, selling blood plasma, etc., in addition to much better eating habits” , said Greg Nasif, spokesperson for Humanity. Forward, the progressive group that sponsored the research. “This study confirms that monthly CTC payments help families not only with their long-term financial health, but also with their personal health.”

Democrats in Congress created the Child Tax Credit to reduce child poverty and reduce material hardship for parents. During the six months the benefit has existed, American parents have received the kind of family allowances that other advanced countries have offered for decades.

The economic impact of the payments, however, has received relatively little attention in Washington amid concerns over soaring inflation, which affects a much wider swath of the population than just parents of minor children.

The researchers interviewed a sample of eligible parents and a control group in July, when payments began, and conducted a follow-up survey of recipients and non-recipients in December and January, after payments stopped.

Advance monthly payments of child tax credits, worth up to $300 per child, may have prompted parents to reconsider pawnbroking and plasma donations. Recipients of the Child Tax Credit who had sold blood plasma before payments began were twice as likely as non-recipients to say in the follow-up survey that they had no longer sold plasma (4 .8% versus 2.6%).

Parents and children in Brooklyn, New York, celebrated monthly child tax credit payments and urged Congress to make them permanent outside the home of Senate Majority Leader Chuck Schumer (DN.Y.) on July 12, 2021. (Photo: Bryan Bedder via Getty Images)

Parents and children in Brooklyn, New York, celebrated monthly child tax credit payments and urged Congress to make them permanent outside the home of Senate Majority Leader Chuck Schumer (DN.Y.) on July 12, 2021. (Photo: Bryan Bedder via Getty Images)

However, parents who had not taken out payday loans or sold plasma in the six months before payments began were still as likely as the control group to use prompt payment programs despite receiving the child tax credit payments.

The research also suggested that the CTC offered parents more funds for rainy days, healthier meals and reduced risk of eviction. This adds to a growing body of evidence suggesting the monthly payments, which came out from July to December last year, have made life easier for tens of millions of parents.

The Columbia Center on Poverty and Social Policy, for example, estimated that the payments reduced child poverty by almost 30% and that the decline reversed as soon as the payments stopped in January.

Democrats had wanted the expanded child tax credit to become a permanent part of the welfare state, one that parents would rely on like seniors rely on Social Security retirement benefits. But their plans to entrench the policy crumbled when they couldn’t muster even 50 votes in the Senate for a bill to continue the payments as part of a larger package last year.

Republicans have generally opposed the payments, calling the money “welfare” and saying the government shouldn’t support unemployed parents. Some also said the payments would make inflation worse by giving parents too much buying power.

This article originally appeared on HuffPost and has been updated.


Today’s Mortgage Rates Remain Above 6% | April 13, 2022


Borrowers applying for a 30-year fixed rate mortgage should expect an average interest rate of 6.064% today. The 30-year rate recently crossed the 6% mark for the first time in years, but today’s rate is lower than yesterday’s. All other types of loans are also experiencing lower rates today.

  • The final rate on a 30-year fixed rate mortgage is 6.064%. ⇓
  • The final rate on a 15-year fixed rate mortgage is 5.12%. ⇓
  • The latest rate on a 5/1 ARM is 4.226%. ⇓
  • The latest rate on a 7/1 ARM is 4.38%. ⇓
  • The latest rate on a 10/1 ARM is 4.457%. ⇓

Money’s daily mortgage rates reflect what a borrower with a 20% down payment and a credit score of 700 — roughly the national average score — could pay if he or she applied for a home loan right now. Each day’s rates are based on the average rate that 8,000 lenders offered applicants the previous business day. Freddie Mac weekly rates will generally be lower since they measure the rates offered to borrowers with higher credit ratings.

Are you looking for a loan? Check out Money’s lists of top mortgage lenders and top refinance lenders.

Today’s 30-Year Fixed Rate Mortgage Rates

  • The 30-year rate is 6.064%.
  • It’s a day offold by 0.053 percentage points.
  • It’s a month increase by 1.275 percentage points.

The 30-year fixed rate mortgage is the most common type of home loan in America. The long payback period and fixed rate mean that monthly payments will be relatively low and also predictable. However, the interest rate will be higher than if you had taken out a shorter-term loan. Since you’ll be paying the higher rate for a longer period, your total borrowing costs will also be higher.

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Average mortgage rates

Data based on US mortgages closed April 12, 2022

Type of loan April 12 Last week Switch
15-year fixed conventional 5.12% 4.75% 0.37%
30-year fixed conventional 6.06% 5.91% 0.15%
ARM rate 7/1 4.38% 4.3% 0.08%
ARM rate 10/1 4.46% 4.38% 0.08%

Your actual rate may vary

Today’s 15-Year Fixed Rate Mortgage Rates

  • The rate over 15 years is 5.12%.
  • It’s a day offold by 0.002 percentage points.
  • It’s a month increase by 1.295 percentage points.

The 15-year fixed rate home loan will have a lower rate compared to a 30-year loan. Since you’ll be paying this lower rate over a shorter period, your total borrowing costs will be lower in the long run. However, the 15-year may not suit everyone’s budget, as the short payback period means your monthly payments will be a bit higher than on a longer-term loan of the same size.

Use a mortgage calculator to determine which option is best for you.

The latest rates of adjustable rate mortgages

  • The latest rate on a 5/1 ARM is 4.226%. ⇓
  • The latest rate on a 7/1 ARM is 4.38%. ⇓
  • The latest rate on a 10/1 ARM is 4.457%. ⇓

Another option is an adjustable rate mortgage. ARMs will have a fixed introductory rate that will eventually become variable, changing at set intervals. For example, a 5/a ARM will have a fixed rate for five years before starting to change each year. Although the initiation rate for ARMs is usually very low, the risk is that it could increase significantly once it becomes variable, which will also increase your monthly payments.

The Latest VA, FHA, and Jumbo Loan Rates

The average rates for FHA, VA, and jumbo loans are:

  • The rate on a 30-year FHA mortgage is 5.525%. ⇓
  • The rate for a 30-year VA mortgage is 5.637%. ⇓
  • The rate for a 30-year jumbo mortgage is 4.809%. ⇓

The latest mortgage refinance rates

The average refinance rates for 30-year loans, 15-year loans and ARMs are:

  • The refinance rate on a 30-year fixed rate refinance is 6.144%. ⇓
  • The refinance rate on a 15-year fixed rate refinance is 5.063%. ⇓
  • The rollover rate on a 5/1 ARM is 4.27%. ⇓
  • The refinance rate on a 7/1 ARM is 4.425%. ⇓
  • The rollover rate on a 10/1 ARM is 4.5%. ⇓
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Average Mortgage Refinance Rates

Data based on US mortgages closed April 12, 2022

Type of loan April 12 Last week Switch
15-year fixed conventional 5.06% 4.78% 0.28%
30-year fixed conventional 6.14% 5.97% 0.17%
ARM rate 7/1 4.43% 4.35% 0.08%
ARM rate 10/1 4.5% 4.43% 0.07%

Your actual rate may vary

Where are mortgage rates going this year?

Mortgage rates have fallen through 2020. Millions of homeowners have responded to low mortgage rates by refinancing existing loans and taking out new ones. Many people bought homes they might not have been able to afford if rates were higher. In January 2021, rates briefly fell to lowest levels on record, but rose slightly for the rest of the year.

Looking ahead, experts believe that interest rates will rise further in 2022, but also modestly. Factors that could affect rates include continued economic improvement and further labor market gains. The Federal Reserve also began to scale back its purchases of mortgage-backed securities and raised the federal funds rate for the first time in March to combat rising inflation. The Fed has signaled that six more hikes are likely this year.

While mortgage rates are likely to rise, experts say the increase won’t happen overnight and it won’t be a dramatic jump. Rates are expected to remain near historic lows throughout the first half of the year, rising slightly later in the year. Even with rising rates, it will still be a good time to finance a new home or refinance a mortgage.

Factors that influence mortgage rates include:

  • The Federal Reserve. The Fed acted quickly when the pandemic hit the United States in March 2020. The Fed announced its intention to keep money flowing in the economy by lowering the Federal Fund short-term interest rate between 0% and 0.25%, which is also low as you go. The central bank also pledged to buy mortgage-backed securities and treasury bills, supporting the housing finance market, but began to scale back those purchases in November.
  • The 10-year Treasury bond. Mortgage rates keep pace with government 10-year Treasury bond yields. Yields first fell below 1% in March 2020 and have since risen. On average, there is typically a 1.8 point “spread” between Treasury yields and benchmark mortgage rates.
  • The wider economy. Unemployment rates and changes in gross domestic product are important indicators of the overall health of the economy. When employment and GDP growth are weak, it means the economy is weak, which can lower interest rates. Thanks to the pandemic, unemployment levels reached historic highs early last year and have yet to recover. GDP has also taken a hit, and although it has rebounded somewhat, there is still plenty of room for improvement.

Tips for getting the lowest possible mortgage rate

There is no universal mortgage rate that all borrowers receive. Qualifying for the lowest mortgage rates takes some work and will depend on both personal financial factors and market conditions.

Check your credit score and your credit report. Mistakes or other red flags can lower your credit score. Borrowers with the highest credit scores are the ones who will get the best rates, so it’s essential to check your credit report before you begin the home hunting process. Taking steps to correct mistakes will help increase your score. If you have high credit card balances, paying them off can also give you a quick boost.

Save money for a large down payment. This will lower your loan-to-value ratio, which is the share of the house price that the lender has to finance. A lower LTV usually translates to a lower mortgage rate. Lenders also like to see money that has been saved in an account for at least 60 days. It tells the lender that you have the money to finance the home purchase.

Shop around for the best rate. Don’t settle for the first interest rate a lender offers you. Check with at least three different lenders to see who offers the lowest interest rate. Also consider different types of lenders, such as credit unions and online lenders in addition to traditional banks.

Also, take the time to learn about the different types of loans. Although the 30-year fixed rate mortgage is the most common type of mortgage, consider a shorter-term loan such as a 15-year mortgage or an adjustable rate mortgage. These types of loans often come with a lower rate than a conventional 30-year mortgage. Compare the costs of all to see which best suits your needs and financial situation. Government loans — such as those backed by the Federal Housing Authority, Department of Veterans Affairs, and Department of Agriculture — may be more affordable options for those who qualify.

Finally, lock in your rate. Locking in your rate once you’ve found the right rate, the right loan product, and the right lender will help ensure that your mortgage rate doesn’t increase before the loan is closed.

Our mortgage rate methodology

Money’s Daily Mortgage Rates show the average rate offered by more than 8,000 lenders across the United States. The most recent rates are available. Today we are posting rates for Tuesday, April 12, 2022. Our rates reflect what a typical borrower with a credit score of 700 might expect to pay for a home loan at this time. These rates were offered to people depositing 20% ​​deposit and include discount points.

More money :

The diversity of bees is important for maintaining

image: A bee of the genus Ceratina on a plant of the genus Ipomoea (morning glory).
to see After

Credit: Joe Zientek

Rutgers scientists assessing the level of bee species diversity needed to sustain wild plant populations have concluded that ecosystems depend on many bee species to thrive, not just a few dominant ones.

The report, published in The Proceedings of the Royal Society Bsupports the fundamental idea that biodiversity is essential for sustaining life on Earth, especially at a time when species are rapidly disappearing due to the pressures of climate change and human development.

“This is one of the strongest demonstrations to date of the importance of bee diversity and rare bee species in maintaining healthy ecosystems,” said Dylan Simpson, author and doctoral student on the program. Graduate Studies in Ecology and Evolution from Rutgers. “It’s important because pollination is essential for plant reproduction. And life on earth ultimately depends on plants.

The researchers conducted their investigation by analyzing data from extensive field surveys recording bees visiting flowers in 10 wilderness settings and an experimental garden of native plant species in New Jersey. In the surveys, the researchers directly observed bee-plant interactions, identified the bee species and flower species visited, and tracked the frequency of interactions between specific bee and plant species.

There are about 400 species of bees in New Jersey alone – some familiar ones, like the common eastern bumblebee (Bombus impatiens), but others rarely seen. “There are a lot more bees than you think,” Simpson said. “Many are small, some are metallic and shiny, some are dark, unscratched and inconspicuous.”

While the sightings were all made in open grassland habitats, the bee species observed included those associated with both forests and human-dominated habitats. Pollinated plants included some of the following plants: Black-eyed Susan (Rudbeckia hirta); bee balm (Fistulous monarda); different species of goldenrod (of the genus Solidago); New England Aster (Symphyotrichum novae-angliae); species of milkweed (of the genus Asclepias); and common weeds, such as white clover (Trifolium repens) and red clover (T. pratense).

Researchers were trying to establish how many species of bees are needed to pollinate distinct segments of nature. Using this as a framework for investigation, they also wanted to understand the function of rare species in this landscape.

“There is a moral and ethical imperative to try to manage ecosystems to keep communities as they are, so they don’t disappear,” Simpson said. “But there’s also the practical argument to be made to come to a better understanding – much of our food comes from animal-pollinated crops.”

Based on their analysis of the data, the authors found:

  • Different species of bees are often important for different plant species. Accordingly, while only a few bee species are important for a particular plant species, the number of bee species needed to support a large plant community must be equally large.
  • A significant portion of the bees that pollinated the plants were rare species.

Much of the past research has generally focused on single-species crops and concluded that pollination often depends on a few honey bees.

“In contrast, this study focused on a wider variety of plants and found that even rare bees can be important for particular plants,” Simpson said. “These findings suggest that ecologists have likely underestimated the importance of bee diversity for pollination in various natural ecosystems.”

Other authors on the paper include: Rachael Winfree, a professor in the Rutgers Department of Ecology, Evolution and Natural Resources; Lucia Weinman, Michael Roswell, and Molly McLeod, all from Rutgers’ graduate program in ecology and evolution; and Mark Genung of the University of Louisiana at Lafayette.

Warning: AAAS and EurekAlert! are not responsible for the accuracy of press releases posted on EurekAlert! by contributing institutions or for the use of any information through the EurekAlert system.

More nursing home identity theft charges


A Mamou woman has been charged with multiple counts, and a suspected accomplice has also been arrested, in an ongoing identity theft and fraud investigation against a resident of the La parish of Saint-Landry.

Last February, Tranessa Compton, 30, was convicted of 259 counts of access device fraud, 16 counts of identity theft and 4 counts of contributing to the delinquency of a minor.

This week she was booked with Exploitation of Persons with Infirmities; 112 counts of access device fraud, 57 counts of identity theft and three counts contributing to juvenile delinquency.

Jonas Wayne Patin, 35, also from Mamou, was also arrested this week in the case. He is charged with two counts of disability exploitation, 64 counts of device access fraud and six counts of contributing to the delinquency of a minor.

The investigation began in January, St. Landry Parish Sheriff Bobby Guidroz said, and Compton was first arrested Jan. 31 and charged in connection with the alleged exploitation of a resident. of a retirement home.

In February, a second nursing home resident filed similar complaints, after that victim received a notification that the credit card had an overdue balance. The victim said there was no balance on that credit card. It turns out that the fraudulent activity on the card — without the victim’s permission or knowledge — appears sometime after November 2021, Guidroz said.

The investigation revealed fraudulent activity beginning November 17 and continuing through December 20. Over $3,500 was charged to the card and over $12,000 in fraudulent charges were attempted. Compton also allegedly tried to open a new line of credit in the victim’s name, but was unsuccessful, Guidroz said.

Phone records were obtained from the credit card company and Tranessa Compton could have been heard identifying herself as the victim, the sheriff said. She allegedly provided the victim’s personal information, including credit card number, date of birth, photo ID, and social security number to access the victim’s account. Tranessa Compton also allegedly provided her home phone number and a personal email address in an effort to have the victim’s identification “verified” for the account, the sheriff said.

The calls Tranessa Compton allegedly made to the credit card company were about the credit card no longer working and trying to get fraud alerts removed from the account, the sheriff said.

As video and photographic evidence became available, Tranessa Compton and Jonas Wayne Patin could have been seen using the stolen credit card on numerous occasions. Tranessa Compton and Jonas Patin were observed using the stolen credit card in the presence of minors, according to deputies.

Additionally, according to video and photo evidence, Jonas Patin was also observed using the credit card belonging to the first victim, which was first reported to the St. Landry Parish Sheriff’s Office. on January 3, 2022. Jonas Patin was responsible for 60 transactions. and 1 attempted transaction totaling $3,609.13, according to deputies.

When questioned by detectives on April 7, 2022, Tranessa Compton initially denied any involvement and later replied that she had made a “mistake”. She was transported to the parish prison of Saint-Landry and charged with exploitation of infirm persons, 112 counts of access device fraud, 57 counts of identity theft and 3 counts of contributing to the juvenile delinquency.

After numerous attempts, detectives were unable to interview Jonas Wayne Patin about the first financial abuse complaint. An arrest warrant was issued on February 15, 2022 for exploitation of disabled persons, 61 counts of access device fraud and 3 counts of contributing to the delinquency of minors.

On April 7, 2022, Jonas Patin was incarcerated in the prison of the parish of Saint-Landry for the arrest warrant issued previously. Detectives then charged Jonas Patin with the following additional charges in relation to the second complaint: exploitation of the disabled, 3 counts of access device fraud, 3 counts of contributing to juvenile delinquency.

The Perfect Credit Score: Understanding the 850 FICO Score


Some of the most common credit score questions people ask relate to the subject of a perfect FICO® score:

  • What is the perfect FICO® score?

  • How do I get a perfect FICO® score?

  • Does anyone have a perfect FICO® score?

  • What is the typical credit profile of someone with a perfect FICO® score?

FICO® scores are a sequence of three-digit numbers ranging from 300 to 850*. Each lender determines the score threshold they need to approve a credit application and to help them set the conditions (interest rate, credit limit, etc.) of the credit granted. Generally, most lenders do not require an individual to have the highest possible credit score to get the best loan features. Instead, they set a high-end threshold (usually in the upper 700s) where applicants scoring above that threshold qualify as a good credit score and get those most favorable terms.

In other words, don’t worry if you’re “only” an 800, because most lenders are likely to treat you the same if you score between 800 and 850, because your risk of not pay as agreed is very low at these highs. FICO® score ranges.

The percentage of the population with a credit score of 850 is relatively low, but has been increasing. In April 2019, approximately 1.6% of the US testable population had a FICO® score of 850. This compares to 0.98% in April 2014 and 0.85% in April 2009. This slight increase is not surprising as we have seen the average FICO® score on the national population increase over time since the “Great Recession”. age.

The top five states with the highest percentage of their respective populations with an 850 credit score have remained fairly constant over the past ten years and this percentage has also increased with each state over the period.

These states also tend to exhibit other “high performing” behaviors in areas such as a healthier lifestyle and higher levels of education, which likely correlate with good credit management behaviors. According to Becker Hospital review, Hawaii, Connecticut, New Hampshire and Minnesota are among the top 10 states in overall health rankings. Connecticut, New Jersey, New Hampshire and Minnesota are in the top 10 states for percentage of residents with bachelor’s degrees diploma.

We also looked at the major MSAs (Metropolitan Statistical Area) to understand which cities have the highest percentage of their respective populations with a credit score of 850. As shown in the table below, the major metropolitan areas encompassing Boston, New York, San Francisco, Southern California, and Washington D.C. consistently surface for having “bragging rights” for the largest percentage of residents with a perfect 850 credit score. Data also shows that the percentage of the MSA population with a credit score of 850 also increased over the period.

If you happen to have a “high performing” personality and are focused on improving your good credit score to “perfect” with a FICO® score of 850, here are some credit behavioral characteristics we have. observed in the population with a FICO® score of 850 in April 2019:

  • Payment history makes up 35% of a FICO® score and, unsurprisingly, we find that those with an 850 have virtually no history of missed payments, collections, or derogatory information.

  • Many people assume that to get an 850 you should have no credit debt. In fact, and perhaps somewhat surprisingly to some, we find that the 850 profile has and uses credit with an average credit balance of around $13,000 (excluding mortgage balances). Their average use of revolving credit tends to be relatively low compared to their available credit at 4.1%.

  • Most have established credit histories, with the average age of their oldest account being 30 years old.

  • They are not all immune to seeking and opening new credits. About 10% had one or more inquiries in the past year and about 1/4 opened one or more new credit accounts in the past year.

While it’s true that having a high FICO® score can increase your access to more affordable credit, paying close attention to trying to have a “perfect” FICO® score of 850 won’t really change the way lenders look at you against other high-scoring applicants. Instead of focusing on a perfect credit score, you can focus on achieving a high FICO® score by paying your bills on time and improving your payment history, keeping credit card balances low, and not asking for credit only when needed.

* The FICO® Score versions of the automotive industry and bank cards have a slightly wider credit score range of 250 to 900.

How FICO can help you understand the FICO score:

Private credit transparency issues could threaten the entire lending market


Ratings agency S&P Global Ratings warns that no one knows how private credit will fare in a credit crisis due to its lack of transparency, and private credit performance issues could spill over into the much larger market. syndicated loans.

In a Feb. 9 private credit report, S&P said it was difficult to assess the extent of long-term risk and the vulnerability of borrowers in the event of a credit crisis. Much depends on the credit underwriting, portfolio management and restructuring capabilities of asset managers, according to the report.

S&P has analyzed the companies in the middle market secured loan bond portfolio. The vast majority of enterprises, 94%, were privately owned. The report says most of the companies it reviewed had “a low or vulnerable business risk profile” due to their relatively small size. S&P calculated that the companies’ median earnings before interest, taxes, depreciation and amortization was $24 million and their median adjusted debt was about $175 million.

Three-quarters of companies analyzed by S&P received a credit valuation rating of b-, one of the lowest rating levels in the company.

Another risk is that no one knows for certain the size of the private credit market and “who ultimately owns the risk”, due to the growing investor base and the wide spread of loans across managers’ portfolios. private credit companies, business development companies and CLOs, S&P said.

“As a result, problems in the private markets could spill over into the more transparent and much larger syndicated market,” the report concludes.

And private credit a relatively new market, which began its massive growth in the years following the global financial crisis of 2008-2009, the rating agency noted.

“The resilience of this (private direct lending) market was not truly tested during a protracted credit crisis,” S&P said.

Ameresco Provides Southern California Edison (SCE) Project Update

FRAMINGHAM, Mass.–(BUSINESS WIRE)–Ameresco, Inc. (NYSE: AMRC), a leading clean technology integrator specializing in energy efficiency and renewable energy, today announced updates on recent communications with the batteries for Ameresco’s Battery Energy Storage System (BESS) projects with Southern California Edison Company (SCE). Due to COVID-19 related lockdowns in several regions of China, the supplier has indicated to Ameresco a negative impact on the supplier’s ability to deliver the batteries within the agreed time frame. In addition, China’s newly implemented transportation security policies may cause delays in the shipment of part of the batteries.

Ameresco has evaluated the circumstances described in the vendor communications and the impact they may have on the schedule of BESS projects. While these circumstances may prevent Ameresco from fully completing the three BESS projects by August 1, 2022, Ameresco believes that the events described in the communications constitute force majeure events under the Engineering, turnkey procurement, construction and maintenance of Ameresco dated October 20, 2021 with SCE (the “EPCM Contract”). Ameresco has therefore notified SCE and is in communication with SCE and the supplier regarding the circumstances. Under the EPCM Agreement, the Guaranteed Substantial Performance Date for BESS projects may be extended without the imposition of force majeure damages.

In the face of market challenges, important milestones have already been achieved in BESS projects, including securing high and medium voltage transformers, auxiliary transformers, inverters, all switchgear and auxiliary equipment. Construction activities continue at all project sites in preparation for the delivery of the batteries. Ameresco is also actively working with its suppliers and SCE to avoid or mitigate potential delays, including working with the Port of Long Beach on expedited vessel and container handling.

Ameresco continues to monitor developments in China and their potential effects on BESS projects. Based on its current visibility, Ameresco does not expect potential battery supply delays to have a material impact on 2022 results and reaffirms the full-year earnings guidance announced on February 28, 2022.

Ameresco expects to provide further updates and insights on the BESS projects when it announces its financial results for the three months ended March 31, 2022 in early May.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE: AMRC) is a leading clean technology integrator and developer, owner and operator of renewable energy assets. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to customers across North America and Europe. Ameresco’s sustainability services in support of customers’ pursuit of Net-Zero include upgrades to a facility’s energy infrastructure and the development, construction and operation of distributed energy resources. . Ameresco has successfully completed energy-saving and environmentally friendly projects with federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. Headquartered in Framingham, MA, Ameresco has more than 1,200 employees who provide local expertise in the United States, Canada and Europe. For more information, visit www.ameresco.com.

Forward-looking statements

All statements contained in this filing regarding Ameresco, Inc.’s future expectations, plans and prospects, including statements about expected future financial results, the expected timing of the SCE project and the nature and duration of the circumstances surrounding project, and other statements containing the words “projects”, “believes”, “anticipates”, “plans”, “expects”, “will” and similar expressions, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements due to various important factors, including the timing and ability to conclude contracts for awarded projects on the terms offered or not at all; the timing of work we perform on projects for which we recognize revenue based on a percentage of completion, including the ability to promptly execute recently signed contracts; demand for our energy efficiency and renewable energy solutions; our ability to arrange financing to fund our operations and projects and to meet the covenants of our existing debt agreements; changes in federal, state and local government policies and programs related to energy efficiency and renewable energy and the financial health of the government; the ability for customers to cancel or postpone contracts included in our backlog; the effects of our acquisitions and joint ventures; the seasonality of construction and demand for our products and services; a customer’s decision to delay our work or other risks related to a particular project; the availability and costs of labor and equipment, particularly in light of global supply chain challenges; our reliance on third parties for our construction and installation work; the addition of new customers or the loss of existing customers, including our dependence on the agreement with SCE for a significant portion of our revenues in 2022; the impact of Covid-19 on our business and the SCE project; the market price of the Company’s shares prevailing from time to time; the nature of other investment opportunities presented to the Company from time to time; the Company’s operating cash flows; cybersecurity incidents and breaches; and other factors discussed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the United States Securities and Exchange Commission (SEC) on March 1, 2022. The forward-looking statements included in these represent our opinions as of the date hereof. We anticipate that subsequent events and developments will cause our views to change. However, while we may choose to update these forward-looking statements at some point in the future, we expressly disclaim any obligation to do so. These forward-looking statements should not be taken to represent our views as of any date subsequent to the date hereof.

Outgoing? Maybe it’s time to apply for a new credit card


Image source: Getty Images

Applying for a new credit card in anticipation of retirement might make sense.

Key points

  • Your spending habits may change in retirement.
  • Your existing credit card bonus program may no longer match your spending.
  • It may be easier to get a card approved before you retire.

Leaving the job market is a major change in all aspects of your life. Once you’ve made the decision to give notice and stop working for good, it might be a good idea to consider getting a new credit card along with the other changes you’re making to your financial life. .

Here’s why it might be a good idea to apply for a new credit card shortly before you retire.

Your drinking habits may change

When you retire, your life will likely be very different from when you were still working. Therefore, chances are you will spend your money differently than you did when you still had a job.

You may, for example, no longer have long commutes, so the amount you were spending on gas could drop dramatically. However, if you start taking a lot of air travel to fulfill your travel dreams as a retiree, the bulk of your spending could be in the travel industry.

If your spending habits have changed, the card you were using may no longer offer a bonus program that suits you. If your old card gave you extra bonuses for buying gas, for example, you might want to upgrade to a travel card instead.

The key is to consider what kind of expenses you’ll make the most as a retiree, and then look for a credit card that gives you extra points, miles, or cash back for those kinds of expenses.

You may also want to think about the types of cardholder benefits you will enjoy. If you travel often, access to airline lounges could make your trips much more enjoyable, and it might even be worth paying an annual fee for a travel credit card that offers it.

If you take the time to think about your future retirement budget and the lifestyle changes you plan to make, you can make an informed decision whether switching credit cards will give you more bang for your buck.

It may be a good idea to apply for a credit card while you are still earning income

If you decide it makes sense to get a new credit card for your modified retirement expenses, it’s a good idea to apply for one. before actually quit work if you can.

You may be asked about your earnings during the card application process and the amount you earn may affect your approval for the card as well as the size of your line of credit. If you still have your job, you’ll have a more stable source of income — and likely more retirement income — so it’s likely to be easier to get approved, even for cards with strict approval requirements.

As a retiree, it’s worth taking steps to make every dollar count since you won’t have any more paychecks. Having the right credit card is an easy way to increase your rewards and enjoy valuable benefits. It’s worth taking the time to determine if a new card is right for you.

The best credit card wipes interest until the end of 2023

If you have credit card debt, transfer it to this top balance transfer card guarantees you an introductory APR of 0% until the end of 2023! Plus, you won’t pay any annual fees. These are just a few of the reasons why our experts consider this card a top choice to help you control your debt. Read the full The Ascent review for free and apply in just 2 minutes.

Take your money to the next level




Millennials may still feel pretty young (despite those pesky gray hairs and less-than-fine fine lines), but in many ways, we’ve grown up. So it’s time for our money management to grow a little too.

Your financial to-do list is small but mighty in your twenties. Setting up automatic transfers to a high-yield savings account, contributing enough to your 401(k) to get full match from the employer, and paying off high-interest debt can get you pretty far.

Now you can do more to propel yourself to financial success in your 40s and beyond.


You don’t have to treat a high credit score like a valuable work of art. Good credit can qualify you for better borrowing terms, so put that to good use.

Try to reduce the cost of borrowing. “In terms of value for money, refinancing is a big thing you should be doing,” says Priya Malani, founder and CEO of Stash Wealth, a financial advisory firm in Charlotte, North Carolina. “If you can move even a quarter of a percent on a really big mortgage, it’ll save you tens of thousands of dollars.”

Get a better deal on high interest credit card debt. If your financial situation has improved, you may qualify for a balance transfer credit card offering a year or more at 0% interest.

If you don’t have credit card debt, but you’re still using that barebones card you got at 21, upgrade to a card that earns cash or travel rewards. However, leave that old credit card open and use it occasionally to keep it active. (The average age of your accounts is a factor in your credit score, and the older the better.)


Here are two ways to increase the stake on your investment. First of all, if your employer offers a pension plan with a match and you have contributed just enough to obtain this match, consider contributing more. A rule of thumb is to save 10-15% of your pre-tax income for retirement.

Next, map out your medium-term goals for the next five to 15 years. You can invest for these goals using other types of accounts, such as taxable brokerage accounts and 529s, to help fund early retirement, save for your child’s education, or plan for another major expense.

Money for short-term goals (within five years or less) should not be invested. Instead, a high-yield savings account is a more appropriate place to keep that money until you need it.


If you spent the beginning of your career growing and advancing, you probably had little energy to think about what kind of work (and life) would bring you the most joy. When you’re financially stable and progressing in your career, you can start thinking about what to expect next.

Shehara L. Wooten, certified financial planner and founder of Your Story Financial, a financial consulting firm in Dallas, says you don’t have to wait until retirement to do the things you really love.

“You may even want, if you’ve planned well, to take some time off,” she says. “If it’s not something you’re capable of doing, take the time to find out how you can get paid more, how you can really be appreciated for the work you do.”

Wooten also recommends seeking the help of a financial advisor to discuss the lifestyle you want to have in retirement and the savings you need to accumulate to get there. You may have a skill set that can translate into a better paying career, which will help you reach your goals faster.


What worked when you were 25 and single won’t work when you’re 35 with two kids and a mortgage. Here are some ways to protect your family:

— INSURANCE: Malani recommends a term life insurance plan if you own a home with someone else, if someone depends on you for support, or if you have a co-signer for one of your loans.

— ESTATE PLANNING: Talk to an estate attorney about writing a will, appointing guardians for your children, appointing a medical power of attorney, and other daunting but necessary details.

— UPDATE BENEFICIARIES: Review who you have listed as beneficiaries on your bank and investment accounts. If this information is outdated and you were to die, your money will not go to the right person.


As your salary increases, it becomes easier to meet your needs and you have money left over each month. Some of this money can be allocated to important causes. Estate planning can also help you determine how you want to give money or valuable property to charity.

“I like people to write their story and go to the end of their life,” says Wooten. “What do you want it to look like? What do you want people to say about you? What do you want your legacy to entail?”

10 Cheapest US States to Purchase Auto Insurance


When it comes to auto insurance rates, where you live matters.

The difference between the highest and lowest average annual premiums in the United States is $2,120, according to a recent Bankrate study that ranks states based on the “true cost” of auto insurance.

The study’s true cost ranking is derived from the average total percentage of income spent on auto insurance, based on the average income in each state, not just the average amount spent on premiums. Since average income varies by tens of thousands of dollars between states, the ranking is intended to better reflect the burden on drivers’ overall budgets.

Using this measure, the average cost of car insurance in the United States is 2.57% of a US driver’s annual income, with an average annual premium of $1,771 per year.

Below, check out the 10 cheapest states for annual car insurance rates, with a ranking based on their “true cost.”


  • Average percentage of income spent: 1.87%
  • Average annual cost: $1,249


  • Average percentage of income spent: 1.85%
  • Average annual cost: $1,449


  • Average percentage of income spent: 1.68%
  • Average annual cost $1,065


  • Average percentage of income spent: 1.60%
  • Average annual cost: $1,313

6. Vermont

  • Average percentage of income spent: 1.48%
  • Average annual cost: $1,000

5.New Hampshire

  • Average percentage of income spent: 1.47%
  • Average annual cost: $1,182

4. Virginia

  • Average percentage of income spent: 1.46%
  • Average annual cost: $1,340


  • Average percentage of income spent: 1.45%
  • Average annual cost: $1,296


  • Average percentage of income spent: 1.44%
  • Average annual cost: $876

1. Hawaii

  • Average percentage of income spent: 1.41%
  • Average annual cost: $1,206

The ranking also reflects the many factors that contribute to auto insurance rates in each state, including your age, the car you drive, your driving record, your credit score (in most states), the length of your route and even local weather conditions.

Drivers in Louisiana and Florida spend the largest share of their income on car insurance: 5.26% and 4.42%, respectively. These rates are comparatively higher since these states have relatively low median incomes compared to other states. Weather could also be a factor, as hurricanes and flooding are common in both states, says Lizzie Nealon, the report’s author.

Other factors are also at play, to varying degrees.

On average, U.S. drivers with great credit scores pay nearly $1,500 less than those with poor ratings, according to data from Bankrate, but that can vary by state. In California, Hawaii and Massachusetts, insurers are not allowed to use credit scores to determine their rates.

Misbehavior also has a huge impact. Drivers who cause a car accident pay an average annual premium of $2,521 in the United States, but it can be much higher depending on where you live. In New York, for example, the average annual rate is $3,239 for drivers who cause accidents.

What you can do to keep rates low

“If you’re a driver in Louisiana, living there, probably working there, it would be pretty hard to just uproot yourself and move to Hawaii, where it’s the cheapest,” says Bankrate analyst Sarah Foster. who worked on the study.

Since some of the costs are out of your control, the best way to lower rates is to maintain good driving habits and keep your credit score as high as possible, especially in the majority of states where it is used to determine your car insurance rate, says Foster.

It’s also worth considering a new policy from time to time. Drivers often forget to periodically shop around for new fares, especially if their credit score has improved, Foster says. But insurance companies won’t necessarily adjust their rates before the renewal date, so it’s up to drivers to stay in control of their own policy.

“Even if a credit score is absent of any kind of change, it’s still a good idea to shop around and make sure you’re not paying extra for insurance that you could get for hundreds of dollars less. somewhere else,” says Foster. “Nobody likes to overpay for anything when inflation is at its highest level in 40 years.”

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Emefiele: InfraCo to unlock N8 trillion pension fund assets to deploy in bankable infrastructure projects across Nigeria

* Sign terms with four asset managers

Nume Ekeghe
The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, yesterday announced that the Infrastructure Corporation of Nigeria (InfraCo) would release N8 trillion in pension fund assets to be deployed in bankable infrastructure projects in across Nigeria. Emefiele also announced the appointment of Mr. Lazarus Angbazo as Managing Director of InfraCo and signed an agreement with four infrastructure asset managers – AAA Consortium, Chapel Hill Denham, Africa Infrastructure Investment Managers and Sanlam Infra works.

Infracorp is promoted by the Africa Finance Corporation (AFC) and the Nigerian Sovereign Investment Authority, with KPMG as transaction advisers. In addition, together with their legal advisers – Kenna Partners, Olaniwun Ajayi and Ukiri and Lijadu – they are to provide InfraCo as a catalyst to accelerate public-private solutions for infrastructure in Nigeria, with an initial fundraising of 15 trillion USD. naira. During a press briefing in Lagos yesterday, Emefiele said:

“We have done our scoping, we believe a substantial part of the trillion naira is available locally. There is a lot of liquidity today, not just in the banking sector; there is a lot of cash currently held by our pension fund managers. From the latest count, I understand that the size of the Nigerian pension fund exceeds N13 trillion. I am told that in three to five years, Nigerian pension assets will grow to nearly 20 trillion to 25 trillion naira.

“There is a lot of local capital and liquidity in Nigeria and what we would like to say is that we would start by talking to the people, the institutions that have that liquidity to come in and take on that kind of debt and that is why I am trying to say that of the 14 trillion naira that will be debt we imagine looking at it in a straight line we should be looking at the 8-9 trillion naira available say within the Nigerian banking sector and pension fund administrators.

“And of course, naturally, the rest will be raised by foreign debt like Eurobond and the rest. So, yes, there will be Eurobonds, but because we are moving very quickly, very quickly, we will look at more of that at the Nigeria.” So let’s not forget that these are projects from a viability perspective and they will generate revenue in Naira. . Most of the roads will carry the traffic camera, they will be chargeable but we will try as much as possible to ensure that the tolls are not too high and become so burdensome for road users.

“The important thing, I think, is that we have to start realizing that for us to have good infrastructure, for us to have good roads, we’re going to have to make it commercially viable and that means we really have to pay for it.” Talking in more detail about how InfraCo would be funded, Emefiele said the first phase of this funding is to raise N14 trillion in debt plus N1 trillion in equity, which is provided by the CBN, l ‘AFC and NSIA. He added, “After signing the term sheet today, we will go straight into execution mode because Nigeria really needs to develop its infrastructure.

There is an infrastructure deficit in the public sector, there is an infrastructure deficit in the private sector and we would like to see that we have played our part at this time to support the efforts not only of the government but also of the sector private sector by doing all that can be done to develop infrastructure in Nigeria. “We are determined to do this because we all travel to different parts of the world and we see the state of development of their infrastructure and indeed most of the developing countries that we like to compare ourselves with also have some kind of our type of InfraCo and that is why they have taken very aggressive measures to develop infrastructure in these countries.

We are determined to ensure that from today InfraCo is open for business. “As of today, we are unveiling InfraCo in Nigeria and because we are confident, we are confident that the N15 trillion financing is available.” In other countries where infrastructure corporations have operated, pension funds have been used to develop the infrastructure of those countries.

“Emerging market economies have used private sector funds from either pension fund managers or the banking sector to set an example that we here in Nigeria are ready to support infrastructure development, support the government in the development of Nigerian infrastructure, and it is our solemn promise today that we will do so.

I am so sure with the gap in the Nigerian infrastructure, this is the first tranche and I think it will soon be exhausted very quickly and now we can go to a phase two and a phase three. “Nigeria as the largest economy in Africa and a country with the largest population in Africa truly deserves this at this time. Its infrastructure must be top notch in order to continue to encourage local and foreign investors to have confidence to come and do business in Nigeria.” For his part, Angbazo said:

“InfraCo’s specific mission is to exploit infrastructure development opportunities in Nigeria by originating, structuring, executing and managing end-to-end bankable projects. These projects would be privately managed by asset managers who are private entities and they would do so in partnership with public and private sector actors to provide long and attractive returns on investment, necessary not only in terms of financial return , but also in terms of social impact. “InfraCo is a dedicated vehicle to unlock and enable infrastructure development.

It is a catalyst to unlock private capital by leveraging local and international capital pools and ultimately it is a catalyst for economic growth and development by stimulating local capacity building, inclusive growth and development with impact.

Your American Airlines credit card has even more value


Image source: Getty Images

Your AAdvantage credit card isn’t just for flights anymore.

Key points

  • American Airlines status now has a single requirement called frequent flyer points.
  • All AAdvantage credit cards earn loyalty points on purchases, so you can earn status just by using your card.

Your average airline loyalty program is about as simple as the US tax code. They often require a combination of miles flown, flight segments, and even money spent on airline purchases.

These hoops can be worth jumping through; earning elite airline status can unlock seat upgrades and free checked baggage. But unless you fly frequently, you’re unlikely to meet these qualifications.

Some airline credit cards offer ways to ease the pain – quite a bit. Unlike hotel credit cards, which enjoy free elite status, airline credit cards only help you get there by providing extra miles or dollars. Until now.

American Airlines recently revamped its frequent flyer program, streamlining it considerably. And under the new program, your airline credit card could be the key to elite status.

Status now requires Loyalty Points

American Airlines got rid of all the complicated branches of its elite tree. Instead, you only need one thing: loyalty points. You will reach the base level with only 30,000 points, and it will increase from there:

  • AAdvantage Gold® / oneworld® Ruby status: 30,000 loyalty points
  • AAdvantage Platinum® / oneworld® Sapphire status: 75,000 loyalty points
  • AAdvantage Platinum Pro® / oneworld® Emerald status: 125,000 loyalty points
  • AAdvantage Executive Platinum® / oneworld® Emerald status: 200,000 loyalty points

And yes, as stated above, having AAdvantage status still unlocks oneworld® status. This gives you benefits with more than a dozen oneworld® alliance airlines.

It also means that you can get your status with all of these airlines with just your American Airlines credit card.

Earn loyalty points for every dollar spent

You can earn frequent flyer points in several ways, including the traditional route of flying with American Airlines. You’ll also earn miles – and frequent flyer points – when you fly on oneworld® and partner airlines.

But the exciting new change is that you can also earn frequent flyer points just by swiping your American Airlines credit card. Each base mile you earn with your American Airlines co-branded credit card also earns you one loyalty point.

Every AA card is eligible to earn loyalty points. Some of our favorites include:

One thing to note is that you only earn frequent flyer points for your base miles earned. You will not earn additional frequent flyer points for bonus miles. Essentially, this means you earn one loyalty point for every dollar spent, not for every American Airlines mile earned.

For example, you may earn 2x the miles per dollar spent on American Airline purchases made with your card, but you will only earn 1x the loyalty point per dollar spent. So that $500 plane ticket may earn 1,000 AAdvantage miles, but it will only earn 500 frequent flyer points.

Unfortunately, this policy also extends to things like sign-up bonuses. You will not earn frequent flyer points for miles earned as part of a registration or welcome bonus. Bonus miles earned through special promotions are also not eligible unless otherwise stated.

If you’re disappointed that bonuses don’t earn loyalty points, there may be another way to increase your earnings: portals. American Airlines offers both shopping and dining portals – known as AAdvantage eShopping and AAdvantage Dining – and your purchases could earn loyalty points.

As with card purchases, your portal purchases earn one loyalty point per dollar spent, not miles earned. However, you can double your loyalty points if you use your AAdvantage credit card; you’ll earn one loyalty point for every dollar spent on the portal, plus one for every dollar spent on your card.

The best credit card wipes interest until the end of 2023

If you have credit card debt, transfer it to this top balance transfer card guarantees you an introductory APR of 0% until the end of 2023! Plus, you won’t pay any annual fees. These are just a few of the reasons why our experts consider this card a top choice to help you control your debt. Read the full The Ascent review for free and apply in just 2 minutes.

Homeownership has created financial stability for me in 5 ways

  • I bought my first (and possibly last) home a bit late in life, at 41.
  • My housing costs have remained virtually stable, which has helped me establish financial stability.
  • Home ownership also allows me to approach retirement with more confidence.
  • Learn more about Personal Finance Insider.

Buying a home is a rite of passage for many Americans, but I kept putting it off until San Francisco spat me out. In 2004 the owner of the two Victorian apartments where my wife and I had lived for almost 10 years decided to sell the property.

We offered to buy it for $500,000, but he turned us down and then sold it for $800,000. So we had to find new accommodation.

The rent in our neighborhood, the Castro, at the time was triple the $900 rent we paid each month. That, plus a real estate investment boom and the fact that I had already turned 40, made it feel like a good time to buy a house – or maybe our last chance. .

Buy on a wing and a prayer

The housing market in 2004 was booming, and I feared that we would be locked out of the market forever if we failed to buy quickly.

We had a few personal hurdles – the first being that we had almost no money set aside for a down payment. I was also a freelance artist, so I didn’t have a guaranteed income, and neither my wife nor I had high incomes. I had also given up on credit cards and had no established credit score because of it.

That said, we were able to put together a deposit by asking our families to contribute. Additionally, it was the heyday of subprime mortgages that required little or no money and sometimes did not require income verification. I also reopened a credit card that I had closed, which established a credit score that I need to show lenders.

We found a small condo in a cohousing subdivision, where our fit for the community was more important to the seller than our credit scores or the amount of money we could set aside.

Our meager income allowed us to qualify for a homeownership program which made the mortgage more manageable. And we landed a subprime mortgage that got us through our first two years of homeownership.

At first, paying a mortgage was difficult, but over time my wife and I became much more financially stable due to home ownership for five reasons.

1. We build equity

Our first mortgage was interest only for two years, and we weren’t allowed to refinance until the end of the two years, so we didn’t build equity initially. The amount we owed was daunting, and the prospect of paying off a mortgage until I was at least 71 was frightening.

However, getting a better mortgage wasn’t difficult once we had two years of regular mortgage payments to show a lender.

Of course, each refinance for a new 30-year mortgage pushed the repayment date further into my 70s and left me wondering if I would ever be able to afford to retire. the average age to buy a first house in 2004 was 33.5, so buying in my 40s felt like a catch-up game that I might be destined to lose.

However, as interest rates fell and our equity increased, we were able to move to a 20-year mortgage and make additional principal payments. This should align the payment date more closely with a reasonable retirement age.

2. Renting is not cheaper and the value of our house increases over time

I did a rough calculation of our cost of ownership versus rent over the past 18 years, and the numbers are about even. The average rent in Oakland today, according to RentCafe, is $2,918. In Berkeley, the average is $3,196 and in San Francisco it is $3,244. Our mortgage payments are well below these rental costs and, unlike rental prices, they will not increase.

Also, while the costs of renting versus owning are about the same (so far), the value of the house has gone up. So, we acquired the equity in our home by paying roughly the same amount that would have gone to rent.

3. Home ownership creates great credit

Home ownership and having a mortgage are great ways to build better credit without racking up credit card debt.

I was able to give up my credit cards again after buying our house, and now I have good credit with no revolving debt.

4. Home ownership will make retirement easier

We may not finish paying the mortgage until I am about 70 because we bought it late in life. But, when we pay it back, our housing expenses will only be HOA dues, home insurance, and property taxes. Our total payments in 2034 will probably not be much higher than our rent in 2004.

Because of this, our predictable housing costs have made it easier for me to plan and save for my retirement. I like knowing that if we ever decide to move, we could use the equity in our condo for the down payment, so even if we buy another house, the costs will probably still be manageable.

5. It allowed us to take business risks and earn more

Today, our household income is about four times what it was when we bought our house, and I attribute a lot of that to the stability and security of our living situation.

A mortgage is a big responsibility, and my desire to keep up with payments has made me take my career more seriously. This led me to better paying jobs, which allowed me to save more and build up my financial reserves.

Having a stable place to live has helped my wife and I achieve our dreams. She was able to get an advanced degree that qualified her for her dream job, and I was able to take a risk and start a business as a freelance writer. Knowing that we could afford periods when either of us earned less without fear of rent increases made those choices easier.

What to know if you have medical debt on your credit report – NBC 5 Dallas-Fort Worth


According to research from the Consumer Financial Protection Bureau, there was $88 billion in medical debt on consumers’ credit reports as of last June. COVID-19 didn’t help.

Read on to find out what consumers should know about changes to how medical debt collection debt is reported.


Equifax, Experian and TransUnion have announced changes to medical debt collection reporting — starting this summer, when the bureaus announce they will change how they handle paid medical debt collection debt.

“Currently, once medical debts are paid, they still appear on your report for a while, but that will change in July. Once you have a medical debt that has been paid off, starting in July, it will come out of your credit report,” explained Sara Rathner of NerdWallet.


In another change, consumers will also have up to a year to work with insurance or healthcare providers to pay off medical debt before the unpaid debt is flagged on their credit report.

“You might be able to lower the cost of your bill and that takes time. This gives you more time to figure out what you really need. It could be less, much less than you were originally charged,” Rathner said.


In the first half of next year, the credit bureaus say medical debt under $500 will not be included in credit reports.

“If you want to apply for a mortgage in the future, if you think you may need to replace your car, and if you need to apply for financing, these are all things that can be affected by the information on your credit report. “, Rathner said. . “It’s really unfair to have negative information on your credit report just because you got sick or injured yourself.”

In a joint statement, the CEOs of Equifax, Experian and TransUnion said, “Medical collection debt often arises from unforeseen medical circumstances. These changes are another step we’re taking together to help people across the United States focus on their financial and personal well-being. As an industry, we remain committed to helping foster fair and affordable access to credit for all consumers. »

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