Loyalty programs are popping up in many other areas of our daily activities, whether through the airlines or hotels, supermarkets or restaurants. It was just a matter of time before financial services joined in.
That difference of roughly 1.5 percentage points is enough to generate $150 in interest income that you'd otherwise leave on the table with a $10,000 investment.
Pay off cards with low balances. This will create some breathing room in the budget that may be needed to keep up with the higher minimums on your other credit cards.
The range of scores is more intuitive to the consumer. Lenders will have a choice about which scoring methodology to use. Whether they accept the new system will depend on pricing, and how widespread the new scores are accepted.
To be able to lock in those kinds of returns — without risk — is attractive to investors at a time when bond investments are lucky to be break even.
The extended low-rate holiday that consumers have enjoyed is a thing of the past.
The things you need to do remain the same. You have to pay your bills on time and keep your debt level under control, regardless of who's keeping score.
Stringing a car loan out is not healthy. Four years on an auto loan is normal. Seven years is not. Your loan shouldn't last longer than the car.
It's decidedly less attractive now.
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