What Citi Just Told the SEC About the Real Cost of Your Card Rewards
Citi’s own SEC filing shows the fee side of its card business ran $663 million in the red this quarter. Here’s what that means for how you use your card.
credit card interest
Credit Cards: The Complete Guide (How They Work, What They Cost, and When to Get Out)
Credit cards aren’t evil — but most people don’t understand the math. This complete guide covers how credit cards actually work, what the minimum payment trap really costs you, how credit cards affect your credit score, and every option available when the debt gets out of hand.
Too Broke to Win: Why Being in Debt Costs More Than You Think
Steve Rhode and Damon Day explore why being broke actually costs you more money through higher fees, interest rates, and missed opportunities. They discuss…
Credit Card Math Mistakes Costing You Money
Quick Answer: Credit card math mistakes cost consumers money because card issuers calculate interest differently than other loans, causing a $2,100 balance at 17.9% to take over 15 years to pay off at minimum payments versus just 5 years using standard loan calculations.Twenty years ago when Michael Riley first released his Credit Card Math tutorial, …
Mexico’s 100% Credit Card Rates: What to Know
Quick Answer: Mexico’s credit card interest rates can exceed 100% annually when including fees and commissions, with some lenders like Walmart de Mexico charging 59-75% base rates. The Mexican Senate removed interest rate cap language from proposed legislation, leaving consumers vulnerable to predatory lending practices during economic downturns.Just when you thought the banks in the …
Citibank Layoffs: What It Means for Your Rates
Quick Answer: Citibank’s planned layoffs of 10,000 additional employees (totaling 33,000 cuts this year) will likely result in higher credit card interest rates and increased fees for consumers. The bank appears to be using rate hikes and fee increases to offset revenue losses from workforce reductions.Anonymous sources in Citibank are leaking that Citibank expects to …
