Economy | Credit Card Topics

CoreLogic Chief Economist Selma Hepp: Housing Data Pinpoints Price, Inventory Trends

By: Mike Senecal, 3/7/2023

In a Nutshell: The COVID-19 economic downturn added fresh impetus to the long-standing price appreciation trend in single-family housing. Mortgage rates plummeted, and new demand entered the market. But as the economy overheated in 2022 and the Federal Reserve responded, many markets saw mortgage rates surge and price growth slow. As Chief Economist at CoreLogic, Selma Hepp looks at tax, property, and geospatial data to understand the variables that promote a healthy housing market.... read more »

How Inflation Is Affecting Americans’ Credit Scores

By: John Ulzheimer, 1/16/2023

Soaring inflation has impacted the financial lives of countless millions of Americans. And although recent reports suggest that inflation may finally be slowing down, recent (and significant) price hikes in consumer goods and services have placed a heavy burden on many households. That means stuff is more expensive, but it’s stuff we still have to buy somehow. The rate of inflation doesn’t directly factor into consumer credit reports or credit scores, but inflation reduces the... read more »

The Cost of Living Index: Price Comparison Data Helps Workers Understand the Financial Benefits of U.S. Cities

By: Adam West, 2/14/2022

In a Nutshell: The cost of goods and services can affect people’s quality of life, and prices often differ dramatically from one location to another. The Cost of Living Index has quantified price differences for consumers since 1968. The index measures the price of living expenses in a range of categories from groceries to health care based on verified national data and issued quarterly by the Council for Community and Economic Research. It provides a reliable benchmark to evaluate... read more »

Rent the Backyard Helps Homeowners Earn Passive Income That Can Be Used to Pay Off Credit Card Debt

By: Matt Walker, 3/5/2021

In a Nutshell: Perhaps now, more than at any other time in the modern era, people are looking for ways to earn extra income, whether it's to pay off credit card debt or to simply boost their savings for retirement. For residents in California, Rent the Backyard provides a simple way for people to earn passive income with an upfront investment in an accessory dwelling unit. The company offers pre-fabricated, one-bedroom, one-bath structures that homeowners can install in their backyard... read more »

Average Credit Card Interest Rate by Year

By: Marcie Geffner, 11/3/2020

Credit cards tend to carry relatively high interest rates compared with other types of debt, such as car loans or home loans. One reason is that most credit cards are unsecured. That means there's no asset, such as your home or car, that the card company can seize if you don't pay your credit card balance. Since credit card rates can be high, it's all the more important to be aware of how much interest you're paying and whether it's higher than it needs to be. One way to figure... read more »

Experts Weigh in on Global Credit Creation and Inflation as a Result of the COVID-19 Pandemic

By: Adam West, 10/20/2020

In a Nutshell: The COVID-19 pandemic has not only impacted the lives and health of people all over the world, but it has also sent governments scrambling to prop up economies. We spoke with Adam Slater, Lead Economist at Oxford Economics, to learn more about recent economic trends, including credit expansion and the likelihood of inflation. Slater discussed the initial monetary boom that occured in the early months of the pandemic as well as the subsequent tightening of credit in... read more »

Running Start Prepares Women to Run for Public Office and Help Reform Credit and Financial Policy

By: Adam West, 9/24/2020

In a Nutshell: Running Start is a nonpartisan, nonprofit organization that prepares women to run for public office ensuring that women's diverse political views are represented at every level of government. Running Start hosts programs for high school and college students to help them develop leadership, messaging, and fundraising skills. And Running Start teaches women to educate themselves about important policy issues, including credit and economic reform and how to establish a... read more »

6 Wise Ways to Use Economic Stimulus Money

By: Andrea Woroch, 9/21/2020

Money is tighter than it’s ever been before for many U.S. households. In fact, a report on the financial impact of COVID-19 by Haven Life found that 61% of Americans lost household income as a result of the pandemic. With so many people financially affected, talk of another stimulus check coming to consumers is no surprise. Although negotiations are on hold, hopeful families are eagerly planning how to spend this money once it arrives. Whether you’re waiting for a new... read more »

How the Pandemic is Affecting Credit Card Debt, Savings, and Rewards Programs

By: Erica Sandberg, 9/15/2020

Could the COVID-19 pandemic have resulted in something positive? The answer is yes if you focus on the amount of revolving balances consumers are carrying now. The August 2020 Federal Reserve report revealed that credit card debt in the United States is down by more than $2 billion, dropping from a total of $996.8 billion in May to $994.7 billion in July. The less high interest debt you owe to creditors the better because the finance fees won’t be eating into your cash flow. ... read more »

Bonbast Charts Open Market Foreign Currency Exchange Rates in Iran Through Economic Challenges and International Struggles

By: Adam West, 6/16/2020

In a Nutshell: Bonbast has reported the foreign exchange value of Iran's rial currency since 2012, based on data obtained from a network of currency dealers in Iran and neighboring countries. While Iranians have continued their everyday struggle to build lives and futures since the rise of the Islamic Republic in 1979, massive depreciation of the rial has severely hampered the economy in the wake of a succession of UN and western sanctions. Now, coronavirus is closing off additional... read more »

The Sound Money Defense League is Working to Bring Back Gold and Silver as America’s Constitutional Money

By: Adam West, 5/22/2020

In a Nutshell: The Federal Reserve instituted a policy of unlimited quantitative easing in March 2020 in response to the COVID-19 pandemic, in effect injecting trillions of dollars into the economy. But some analysts believe the consequences of that action may not be limited to stimulus checks and paycheck protection. According to Stefan Gleason, Director of the Sound Money Defense League, the Fed's pandemic response is only the most recent manifestation of a long-standing inflationary... read more »

Transitioning to a Low-Carbon Economy: Why a Green New Deal Initiative Could Produce Economic and Environmental Benefits

By: Adam West, 5/12/2020

In a Nutshell: Rather than reject the claim that human activity contributes to global warming, today's opponents of climate change action tend to argue that the cost of any Green New Deal initiative would outweigh the benefits. But a team of ecological economists at the Tufts University Global Development And Environment Institute (GDAE) argues that the climate debate doesn't need to be a zero-sum proposition. Recent GDAE analysis asserts that sensible sustainability policies inspired... read more »

A Study Reveals that Mortgage Lenders Sidestep Transparency Mandates by Offering Loans Just Below Interest-Rate Thresholds

By: Adam West, 2/4/2020

In a Nutshell: The 2013 Home Ownership and Equity Protection Act (HOEPA) mandates loan term disclosures and borrower counseling, and restricts points and fees, among other provisions. But those mandates are only triggered for mortgage loans that exceed specific interest rate thresholds. Youssef Benzarti, a research fellow at the National Bureau of Economic Research, reveals that lenders may have found a way to avoid the act's controls altogether. His research shows a rise in loan... read more »

With a Focus on Anti-Corruption, RepresentUs Aims to Bring Conservatives and Progressives Together to Ensure the Integrity of American Democracy

By: Adam West, 1/22/2020

In a Nutshell: No matter where people fall on the political spectrum, it's easy to see that money and special interests have a profound impact on American democracy. And surveys show that the vast majority of Americans — Republicans, Democrats, and Independents alike — believe their votes don't count. RepresentUs set out to change that dynamic by empowering conservatives, progressives, and everyone in between, to make the democratic process work for them. It accomplishes that... read more »

How the ICCR Works with Banks and Financial Institutions to Fight for Economic Justice and Human Rights for the Disenfranchised

By: Matt Walker, 5/20/2019

In a Nutshell: Over the last 49 years, the Interfaith Center on Corporate Responsibility (ICCR) has worked alongside banks and financial institutions to promote the reformation of company policies to help poor and disenfranchised Americans. One example is the organization's work with Wells Fargo to shape new policy in the wake of the bank's product sales tactics brought to light in 2016. ICCR has also pressured banking giants JP Morgan Chase and Wells Fargo to stop providing lines of... read more »

2018’s Top 10 Booming College Towns

By: Ashley Dull, 11/5/2018

A 2017 study by TD Ameritrade found that nearly 50% of college graduates return home after receiving their diploma out of financial necessity. The financial strain of student debt, lack of job opportunities, and a high cost of living are just some of the reasons students choose to move back with their families, which for most, was never the intended plan. Some college towns, however, provide economically friendlier climates for recent grads and job seekers than others. The following... read more »

On the Issues Presents Political Candidates’ Stances Without Commentary so Voters Can Decide for Themselves

By: Matt Walker, 10/25/2018

In a Nutshell: US politics is surrounded by an influx of voices espousing every opinion on countless issues — it can be overwhelming. Thankfully, On the Issues offers voters straightforward information about where political candidates stand on topics of public interest. The website was founded in 1999 ahead of the 2000 presidential election as a reaction to the news media’s lack of real coverage on issues. Since then, it has grown to include house, senate, gubernatorial, and other... read more »

CareerArc: How Retailers are Recruiting New Employees and Transitioning Seasonal Hires in the Modern, Connected Economy

By: Ashley Dull, 10/11/2018

In a Nutshell: Talent acquisition and retention present challenges for the retail industry especially with its high turnover, seasonal hiring, and competition for technically skilled workers. Retailers must also promote their unique brand values to recruit the quantity and quality of workers they need. CareerArc provides the software tools and access to employment channels to accomplish those tasks. Brands can use the Social Recruiting platform to optimize messaging to reach top... read more »

HomeStreet Bank Recognized with Editor’s Choice Award for Creating Employment Opportunities for Veterans

By: Ray FitzGerald, 8/28/2018

In a Nutshell: Most military veterans don’t return home to the parades and fanfare that welcomed past decorated heroes, and some even struggle to find employment once they’re back on US soil. HomeStreet Bank understands and appreciates the value and discipline trained military members bring to its company, which is why the institution provides veterans with extensive hiring opportunities. In addition to its hiring practices, HomeStreet also offers veterans an array of financial... read more »

CalEITC4ME Works to Bring Awareness to the Estimated 1.7 Million Californians Who are Eligible for the State Earned Income Tax Credit

By: Ray FitzGerald, 4/9/2018

In a Nutshell: For more than 40 years, observers have hailed the federal government’s Earned Income Tax Credit (EITC) as one of the most effective anti-poverty tools in the US. In recent years, individual states have set aside money for low- and moderate-income families to claim state tax credits to supplement the federal EITC. California, a forerunner in the movement, has an estimated 1.7 million residents who are eligible for the credit. CalEITC4ME works to spread word of the... read more »

Rasmussen Reports Delivers Unbiased & Accurate Economic and Political Opinions with the Collection, Publication, and Distribution of Public Polling Information

By: Ray FitzGerald, 3/20/2018

In a Nutshell: Opinion polls have been popular for nearly a century, with many individuals and companies working to find ways to appropriately gauge public sentiment on topics ranging from politics to the latest movie releases. While many of these companies have faced accusations of bias or using underhanded tactics designed to sway respondents’ answers, Rasmussen Reports has proven its methods of data collection and publication are both fair and accurate. Rasmussen rose to... read more »

10 Cities Primed for Economic Growth & Opportunity in 2018

By: Brittney Mayer, 2/7/2018

The United States is home to hundreds of cities and towns, each with its own unique history — many of which stretch back decades or even several centuries. And among the many is nearly every combination of size, geography, and lifestyle one could want, with small towns and big cities, coastal communities and mountain villages, swamp-side neighborhoods and desert oases — and just about everything in between. But despite the draw of a particular climate or style of life,... read more »

Socrata Open Finance Brings Transparency to Local Government Spending So Citizens Can See Where Their Tax Dollars Are Going

By: Ray FitzGerald, 1/31/2018

In a Nutshell: The signs of road improvement abound on city and state thoroughfares: the clutter of heavy machinery, the orange traffic cones lining the shoulder, and the ubiquitous "Your Tax Dollars at Work” electronic display signal. But what exactly does the sign mean? Socrata introduced its Open Finance suite of solutions in 2017 to inform citizens of exactly how their tax money is being used, and to help streamline government access to data often scattered among different... read more »

State-Sponsored NY Green Bank Drives Up to $1.6 Billion in Investments Furthering Clean Energy Projects Throughout New York

By: Ray FitzGerald, 1/12/2018

In a Nutshell: Individual states are often given the task of finding solutions to the nationwide push for cleaner energy and environmental recovery. That job becomes more difficult when it comes time to finance projects that can cost tens of millions of dollars. New York has long been on the cutting edge of everything from fashion to finance, but Governor Andrew Cuomo’s Reforming the Energy Vision initiative looks to set the state apart in its environmental and resilience... read more »

Marijuana Legalization Has Far-Reaching Economic and Financial Implications for Communities

By: Adam West, 1/3/2018

In a Nutshell: In recent years, voters in eight US states and the District of Columbia have chosen to legalize the recreational use of marijuana among adults. In even more states, marijuana is now decriminalized and/or legal for medical use. While this may be a controversial subject in many communities, what’s clear is that legalizing, regulating, and taxing marijuana sales has led to increased revenue and jobs in those states that have adopted the change. What’s less clear is the... read more »

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