Tag Archives: credit cards

Bernie Sanders and AOC want to lower credit card interest rates but it may not be a great idea

**Bernie Sanders and AOC want to lower credit card interest rates but it may not be a great idea**



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Yahoo Finance’s Rick Newman discusses Bernie Sanders and Alezandria Ocasio Cortez’s plan to discuss lower credit card interest rates.

Nobody should ever pay a 25% interest rate to a credit-card issuer.

With that said, the understandable urge to pass a law capping what banks can charge could hurt the very people it’s meant to help, and cause other problems that may ravage people’s finances even worse.

On Thursday, Democrats Bernie Sanders and Alexandria Ocasio-Cortez introduced new legislation that would cap credit-card interest rates at 15%, and require the U.S. Postal Service to offer basic banking services for those who can’t afford a traditional bank.

The bill addresses legitimate problems. Millions of Americans are “unbanked” or “underbanked,” with limited access to modern financial tools that help people get ahead. And high rates often charged to low-income borrowers can lock in an unbreakable cycle of debt and poverty.

Solutions aren’t as obvious as they seem, however. Banks would lose revenue if there were a federal cap on card interest rates, which is why they oppose such a move. Don’t cry for them.

Banks would be fine, but they’d make other adjustments that the New York City congresswoman and Vermont senator may not be anticipating. Banks set rates according to the riskiness of the borrower — and if 15% were the most they could charge for what are basically loans via credit card, they’d curtail borrowing limits. It could result in credit to fewer people.

Some consumers with weak credit might not even be able to get a card —even if they paid off the balance each month and never paid interest. Fees might also rise just for having a card. And people who do get cards might try to borrow more via plastic, if rates were lower and it cost them less (another wrong incentive).

So unintended consequences of a cap would include less access to credit for some and more credit-card debt, at a slightly less onerous rate, for others.

People run up costly credit-card balances for a couple reasons. Some people are just uninformed or undisciplined consumers. The best solution there is consumer education, along with new tools like financial-planning apps that can help people manage money, and send alerts when spending levels are too high.

Others rely on credit cards because they simply lack the cash to buy basics when they need them, which is a tougher problem.

As bad as credit-card debt is, it’s better than borrowing from a payday lender or illicit loan shark. The core solutions here are improved financial literacy, better skills and stronger earning power for the most vulnerable consumers. None of those are a quick fix.

That speaks to the second part of the Sander-AOC plan, which is postal banking. The postal service has outlets in most American communities, and it already cashes government-issued checks. So why not expand that to basic financial services? Other countries do, including France, the U.K., Germany, Japan and South Korea.

This could work, but only if done carefully. It’s possible for the postal service to offer savings and checking accounts, debit cards, ATMs for cash withdrawal and other basic services that entail little risk. There are legitimate questions about whether an agency backed by the federal government should compete for customers with private-sector banks. But it would be possible to tailor a menu of postal financial services so narrowly that there’d be little overlap.

The legislative proposal would go further, requiring the postal service to offer low-interest loans— and this is where the problem begins.

Anybody making a loan faces a risk of not getting their money back, which is why banks do extensive research to establish creditworthiness standards. That’s a core expertise of banking. Riskier borrowers pay higher interest rates, because it’s more likely they’ll default on a loan.

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Know everything about Kotak Bank PVR Platinum Credit Card - Paisabazaar

**Know everything about Kotak Bank PVR Platinum Credit Card – Paisabazaar**



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Did you know everything about Kotak Bank PVR Platinum Credit Card?
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Top 5 Travel Rewards Trends in 2018

**Top 5 Travel Rewards Trends in 2018**



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My top 5 best travel rewards trends for 2018! 💳 Free PDF 25 Dopest Travel Cards in 2019:

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Secret Tips I Can’t Share with The Public:

Travel Rewards Coach take a unique approach to the travel credit card rewards game. Jason uses travel points & miles to travel the world free full time through the art of travel hacking.

I teach my students how to maximize everyday spending to maximum points accumulation or cash back. Travel Credit cards can be an amazing way to earn free travel & increase your credit score & net worth when used correctly.

Using my method of “Reversed Engineered Travel Hacking” coaching my students earn the most miles possible for the destinations they want to go based on the way they already spend money. They also learn how to save more miles (& fees) when redeeming their points.

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what's up guys today we're going to be talking about the top five best improvements in the travel awards game in 2018 but if this is your first time here my name is Jason or on this channel we talk Travel points and miles credit card tips and tricks consider subscribing so you don't miss anything well guys come and echa live from my parents house down in sunny Florida a beautiful December day Golf Course video all that stuff so I wanted to talk about some positive things that we saw in 2018 in the travel awards game so not all of it was positive but today I'm gonna give you my top 5 best things that I saw about how the travel awards game got better this year number one this is the year of these spending multipliers we saw so many cards become way more valuable to use on day to day purchases the American Express gold card definitely is the cream of the crop with the four x miles on all of your supermarket purchases and so much more so we just saw a lot of different cards start to aweful offer multipliers on things like restaurants and some things silly things like gems but so many more cards other than just your premium credit cards are offering benefits for day-to-day spending things like dining and travel and just a whole lot more so a lot of cards are much more useful than just getting that signup bonus and not ever using it again number 2 TSA PreCheck well I'm sure some people will argue and say it is not a positive it is a negative if you're a savvy traveler and travel a lot maybe having more people get access to TSA PreCheck is not a positive to you but I think it's a positive because it just gives more people access on just so many more cards and now will give them to your family members and so many other people you don't have to get some kind of premium credit card to get a TSA PreCheck benefit number three is transferrable points this year it was on fire with transferrable points and transferrable points are really what makes a travel rewards game in my opinion if we're all just trying to get one or two or maybe even three percent cash back this game isn't as valuable and probably not worth many of our times but with transferrable points especially when you're getting them full or business or first-class international flights you can then get an ROI of 5 10 sometimes 15 percent on taking amazing vacations doing amazing first-class travel I never would have been able to take flights like at Ahad first-class apartment Singapore Airlines and just so many of these flights that are ten thousand fifteen thousand dollars that I would never pay no matter how rich I was but just being able to do that with points and transferable points is really what makes this hobby amazing in my opinion and we saw bit banks like Capital One get in the game recently here and they had a pretty decent showing in it Barclays also got in the game for a little bit but they massively failed I think they've already shut down the program I wouldn't be surprised to see them reopen their transferable point program at some point but hopefully they'll have a little bit better showing and it won't be frowned upon but overall having more options for transferable points as such a good thing in my opinion number four and again I'm sure someone on here is gonna argue with me about this but I think travel awards has gone a lot more mainstream this year a lot people in my family look at me like I'm Way less crazy this year for having travel credit cards I don't watch much TV in fact I hate TV outside of really watching football I rarely watch TV and if I do it's usually Netflix so I don't see many commercials but I spent most of the year outside of the US but when I got back this year and started watching football I noticed that every single card I have now has a commercial I thought that was pretty interesting and pretty surprising before you would only see cards like the Capital One what's in your wallet commercial now I swear like every single card has its own commercial it seems to be more mainstream more people are into the hobby and overall I think that's a good thing and the last biggest improvement I saw in 2018 was the improvement of on align booking so basically what I mean by that is last year we Staz you see American Airlines and Delta it was just really tough to book partner awards especially American Airlines it was terrible but we've seen a lot of new partners added for internationals so you can make a lot more international bookings online with American Airlines now you still gotta find availability but overall we more partners at it which is a good thing we've also seen huge improvements of systems like British Airways which for most of the year was an absolute crapshoot you couldn't really use it and anyone that hadn't you British Airways obvious was very frustrated because they couldn't use them well they've seemed to fix the system and now there are some amazing things that you can do with a vo so you can book so much award partner availability online instead of having to make a call just makes this game so much better I think Delta is showing a lot more availability online while they don't have a partner a word chart anymore and you might not always get the best value it's just great that they have a lot more availability online and United is just as good as it has been in my opinion Alaska still fire so much great online award availability and just overall I saw different online award systems I think Avianca got a lot better and many more they just got a lot better this year and it's just way easier to use your points to book online without having to pick up the damn phone well guys that is all for today and if you liked this video give it a thumbs up it really helps me out drop me a comment let me know what did I miss out on the best improvements in the travel awards game of 2018 if you guys haven't already go ahead and hit subscribe so you don't miss any upcoming videos and as always guys using any of the links down in the description help support the channel thanks for watching talk to you soon

✈️ Quick Airline Alliance Tutorial & Gift for YOU ✈️

**✈️ Quick Airline Alliance Tutorial & Gift for YOU ✈️**



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Quick chat about the power of the 3 airlines alliances & a free gift for you:

💳 Free PDF 25 Dopest Travel Cards:

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🔥Best Travel Cards this Month (video):

💳 Chase Cards Tips & Reviews:

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🍴Shopping via this link is like buying me a (cheap) beer:
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Secret Tips I Can’t Share with The Public:

Travel Rewards Coach take a unique approach to the travel credit card rewards game. Jason uses travel points & miles to travel the world free full time through the art of travel hacking.

I teach my students how to maximize everyday spending to maximum points accumulation or cash back. Travel Credit cards can be an amazing way to earn free travel & increase your credit score & net worth when used correctly.

Using my method of “Reversed Engineered Travel Hacking” coaching my students earn the most miles possible for the destinations they want to go based on the way they already spend money. They also learn how to save more miles (& fees) when redeeming their points.

Book a custom coaching session with Jason:

✈️✈️✈️✈️✈️✈️✈️✈️✈️✈️✈️✈️✈️✈️✈️✈️✈️✈️✈️✈️✈️✈️

Some referral links may be affiliate offer or I may receive a small amount of points by signing up through my links. It’s the easiest way to support the channel. Thank you in advance!
what's up TRC fan a super short video today but basically I just wanted to have a little gift for you so I was working with one of my students last week and we were talking about the airline alliances and you know that's something I'm noticed is a big topic of confusion for a lot of people just getting into the game so many people don't know that there are airline alliances and to be honest until I really got on this game I didn't either and I hear all the time you know well I never fly AAA why would I want any a miles or well I'll never fly United again after what happened last year and you know stuff like that all the time so people think that they just need to get something like a Chase Sapphire Preferred or an Amex platinum and get you know Amex points or chase points and then book within the system to fly internationally and that is not the way to do it so usually the best way to do it is through transfer partners or just booking through partner Airlines through you know a lot of the US airlines so most people don't realize that each of the three biggest airlines in the u.s. is attached to one of the three biggest airline alliances and it's getting easier and better than ever there's more and more airline partners available to booked inside of the online booking system AAA has really made a big improvement recently to where it used to be really hard to book any partners but they've really expanded that a lot United has always been great for that and you know Delta is actually not too bad for that either so basically long story short it just created this little document because my student was saying it's always annoying for him to have to go and find these things online and look at it and if you go to the like the oneworld alliance or the Star Alliance websites are actually like not it's a little hard to actually find where they show the Alliance is we know weird enough so basically I just had my team and I we put together this easy little PDF just with all the Alliance's and all of the partner Airlines just in one easy place and a simple PDF and a couple different formats so that's pretty much it so I just wanted to share it with you guys and give it to you for free so basically just click the link down below and you can go and download that I figured more people should enjoy it since I actually took there's quite a bit of time to put it all together and make it look nice and I do think it looks nice if I Tuesday sell myself but that is pretty much all for today guys so I hope this video I hope hope you guys enjoy it so give this video a thumbs up if you appreciate it drop me a comment and let me know if you guys like it if you haven't already go ahead and hit subscribe so you don't miss any upcoming videos and as always using any of the links down in the description help support the channel thanks for watching guys talk to you soon

10 Amazing Travel Rewards Trends in 2019

**10 Amazing Travel Rewards Trends in 2019**



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10 amazing trends in travel rewards for 2019 & beyond. Lots of great trends in travel hacking right now… Free PDF 25 Dopest Travel Cards in 2019: …