At Apple's big event on Monday, the company entered a whole new business: credit cardsThe tech giant is betting that its Apple Card will be a game changer for the credit card industryBut most experts said they're underwhelmed, noting mostly me-too kinds of featuresStill, Apple fans are loyal, and the new card does have enough perks that could be tempting Apple is rolling out a credit card that it says is designed to do things no other card can. So how does it actually stack up? It looks different from a traditional credit card – it has no number on the front, and the users' name is etched in metal. The card expands the company's digital Apple Pay services, marrying the physical card to a virtual one and integrating both with the iPhone. And it comes with a bevy of perks -- quick sign-up, elimination of most fees, strong security protections and cash back. But industry experts said they're not impressed: The financial benefits mirror many of those already out there for … [Read more...] about Can Apple Card really disrupt the credit card market?
New credit cards coming out
Sarah Skidmore Sell, Ap Personal Finance Writer Updated 2:08 pm PDT, Tuesday, March 26, 2019 FILE- In this Monday, March 25, 2019, file photo, Jennifer Bailey, vice president of Apple Pay, speaks about the Apple Card at the Steve Jobs Theater during an event to announce new products in Cupertino, Calif. Apple is hoping a credit card will entice more iPhone owners to use Apple Pay. less FILE- In this Monday, March 25, 2019, file photo, Jennifer Bailey, vice president of Apple Pay, speaks about the Apple Card at the Steve Jobs Theater during an event to announce new products in Cupertino, ... more Photo: Tony Avelar, AP Photo: Tony Avelar, AP Image 1 of / 1 Caption Close Image 1 of 1 FILE- In this Monday, March 25, 2019, file photo, Jennifer Bailey, vice president of Apple Pay, … [Read more...] about Apple tries to take a bite out of credit card industry
UNIVERSAL Credit is being rolled out across Britain, and 64 areas across Britain are set to get it in November. It’s expected that the service will be available everywhere by the end of 2018. Whether you can claim it depends on where you live and your personal circumstances. After the rollout is complete for new claims, the DWP will start putting people who are already on benefits on the Universal Credit system - which wraps six benefits into one. That will start around July next year, its expected. If your circumstances change, for example you lose your job, move house or move in with your partner, you might have to claim Universal Credit instead. How to get ready 1. Find out when it’s coming in your area If your jobcentre area is not on the list then enter your postcode here to find out when it’s coming to near you. 2. Open a bank account Most people will need a bank account to receive benefits - or a similar account with a credit union or building society. 3. Get … [Read more...] about Universal Credit is coming to these areas now – see whether you’re affected
Although credit card interest rates are rising, not all the news about plastic is bad. That's because some credit card fees are disappearing -- particularly foreign transaction fees. In 2015, 77 out of 100 cards charged these fees, 3 percent to 5 percent nicks that hit your account each time you use a card to buy something outside of the U.S. But just 52 cards still charge these fees today, said Ted Rossman, analyst with CreditCards.com, which conducts annual credit card fee research. "Credit card companies are competing for affluent travelers," said Rossman. "Not only are issuers eliminating these fees, more of the new cards coming out don't have them." However, credit card interest rates have risen sharply over the past year, jumping to 17.01 percent on average from 16.15 percent a year ago and from 15.2 percent in 2016. Still, consumers who play their cards right don't need to pay a cent to use plastic in this environment, Rossman said. Interest is assessed only on … [Read more...] about Credit cards are hiking rates, but cutting fees
A good credit score could impact your ability to get a new home or car. But credit card debt, with high interest rates, can hold you back. According to credit bureau Experian, the average American carries more than $6,000 in credit card debt, up 3 percent from 2017. Avoiding credit card debt John Vento, a certified public accountant and financial planner, told CBS News the best way to avoid credit card debt is to follow a basic principle -- only buy what you can afford. "Clearly it's safer than using cash but at the end of the month, if you don't have those funds available to pay for whatever it is you're purchasing, then quite frankly you should not be buying whatever that is," Vento said. He recommends sticking to no more than two cards. When it comes to retail credit cards, it's tempting to sign up at stores in order to get discounts off your total purchase. But Vento says don't fall for it if you're spending a small amount of money. "If you're about to refurbish your entire … [Read more...] about How to avoid credit card debt and improve your credit score