P.J. Washington (Charlotte Hornets) with an and one vs the Phoenix Suns, 02/24/2021
P.J. Washington (Charlotte Hornets) with an and one vs the Phoenix Suns, 02/24/2021
While major credit card issuers tightened lending standards and slashed credit limits amid COVID-19, some financial technology startups took a different tack. In 2020, young companies like Grow Credit, TomoCredit and Chime launched or expanded credit cards that are available to those with less-than-ideal credit — because they don’t run a credit check at all. Instead of relying on the traditional FICO credit scoring model, these “fintech” products can evaluate alternative factors like bank accounts and money management to determine eligibility. What’s more, these cards don’t feature annual fees or even APRs. It’s literally not possible to carry a balance on them. Here’s how this new breed of credit cards differs from traditional cards and why they’re easier to get, even in tough times. HOW STARTUPS CAN EVALUATE APPLICANTS DIFFERENTLY Traditional credit card issuers typically conduct a hard inquiry on your credit report to evaluate your creditworthiness. Hence, even before the pandemic, card options were slim for those with no credit or poor credit (FICO scores of 629 or lower). But some new products on the market aren’t as concerned with your credit report as they are with other facets of your financial life. Grow Credit, for example, offers the Grow Credit Mastercard, issued by Sutton Bank. The company has proprietary technology that evaluates income, according to Joe Bayen, CEO and founder of Grow Credit. Applicants must provide access to their bank account information. The card allows you to build credit as you pay for qualifying monthly subscriptions like Netflix or Hulu. Subscription services traditionally aren’t factors in your credit reports, but Grow essentially gives cardholders an installment loan that can only be used to charge eligible subscriptions to the card. Cardholders pay off the bill in full each month and build credit along the way. Cell phone bill payments can also be handled this way, if you’re willing to pay a monthly Grow membership fee. “The combination of a small loan that can only be used toward a product of necessity makes our platform very resilient to recessions,” Bayen said in an email. Or consider the Chime Credit Builder Visa Secured credit card, issued by Stride Bank, which also does not require a credit check. To get it, you’ll have to open a Chime Spending Account with an eligible direct deposit. You can use it to add money to your Credit Builder secured account, which determines your credit limit on the card. “The direct deposit definitely does help us understand members’ income and spending habits in a way that makes this product safer for us to offer,” says Zachary Smith, head of product at Chime. TomoCredit offers the Tomo Card. The startup’s technology allows its issuer, Community Federal Savings Bank, to determine eligibility for the card based on multiple factors, including income and account balances. The card also earns rewards. Linking a qualifying account through a third-party service is required. BENEFICIAL FOR CARDHOLDERS AND CARD COMPANIES ALIKE These kinds of cards come with guardrails that can minimize risks for both the consumer and the issuer. For one, you can’t carry a balance with these products and, as such, they don’t charge interest. The companies behind these cards make money at least in part through interchange fees, which are assessed to merchants when they accept a credit card as payment. Since you’re required to pay on time and in full, overspending is difficult to impossible. Both you and the card company can be less worried about a potential default. Plus, payments are reported to all three major credit bureaus: TransUnion, Equifax and Experian. (The Grow Mastercard is reported to credit bureaus as an installment loan.) These bureaus record the information used to calculate your credit scores. Good scores of 690 or higher can save you money on interest rates for a car, a home or other credit cards. And no-fee credit cards make it easier to keep the accounts open and active, which preserves the length of your credit history, another factor in your credit scores. For LaToya Wilson , a 46-year-old Minnesota resident, the Chime Credit Builder Visa Secured credit card allows her to rebuild credit without the risk of credit card debt and to get closer to buying a house. She got the card in 2020. “This time I’m more cautious about what I’m doing and (where) I’m spending,” Wilson says. “I see my credit score going up every month by using it.” __________________________________- This article was provided to The Associated Press by the personal finance website NerdWallet. Melissa Lambarena is a writer at NerdWallet. Email: email@example.com. Twitter: @lissalambarena. RELATED LINKS: NerdWallet: COVID-19 and Your Money: Our Guide to Managing Your Finances During Tough Times http://bit.ly/nerdwallet-covid-money-times Consumer.gov: Your credit history https://www.consumer.gov/articles/1009-your-credit-history Experian: What Affects Your Credit Scores? https://www.experian.com/blogs/ask-experian/credit-education/score-basics/what-affects-your-credit-scores/ Melissa Lambarena Of Nerdwallet, The Associated Press
Used to be that if you ran a business in America you’d stay as far away as possible from politics. But this has been changing in recent years, and now taken to another level with the Georgia voting law, the fallout of which has rippled from Fortune 500 companies and prominent executives to major league baseball and golf.
Under the deal, Aramco will lease the usage rights of its pipelines to a consortium of investors led by EIG through the newly formed Aramco Oil Pipelines Company.
Political figures and celebrities are remembering the life of Prince Philip, who died Friday morning at Windsor Castle.
A Kerala advocate recently posted on Facebook, criticizing Janaki and Naveen's viral dancing video
The U.K.’s national broadcaster switched instantly into mourning mode when Prince Philip’s death was announced Friday. The BBC canceled its regular programming and aired special coverage hosted by black-clad news anchors throughout the day. The broadcaster received so many complaints alleging its reporting was excessive that it set up a special website page for viewers to register objections if they felt there was “too much TV coverage of the death of HRH Prince Philip, Duke of Edinburgh.”
The scandal that wasn’t: Republicans deflated as nation shrugs at Hunter Biden revelationsTrump and his allies foresaw a ticking timebomb centred on the president’s son – but it has not turned out that way Hunter Biden, middle, with his half-sister Ashley at Joe Biden’s inauguration in January. Photograph: Carolyn Kaster/AP
The Biden administration recently introduced a $2.3 trillion spending plan to upgrade the nation's infrastructure over the course of the next decade. Among the target industries that would get a cash influx under the yet-to-be-approved plan, some $280 billion is earmarked for highways, bridges, public transit, freight and rail; $100 billion is for eclectic grid upgrades; $213 billion is for affordable housing and existing housing upgrades; and $300 billion is for manufacturing and small business. There are a lot of companies that could benefit from this epic influx of cash, but software is one of the most profitable players in any construction or manufacturing project.
With that in mind, we asked three Motley Fool contributers to provide some color on the outlooks for major players in the e-commerce industry. Read on to see if they think these online retail stocks have what it takes to thrive in a post-pandemic world. Keith Noonan (ContextLogic): The Wish e-commerce platform at the center of ContextLogic's (NASDAQ: WISH) business has been the single-most downloaded online retail app worldwide since 2017.
The La Soufriere volcano shot ash thousands of feet into the air
UPDEIEd is a two-year diploma course. In this course, teachers are trained for the primary level. The training is imparted to DEIEd students through classroom or distance learning mode.
The First Sea Lord and Chief of the Naval Staff, Admiral Tony Radakin, has recorded a video message paying tribute to the duke.
MALANG, Indonesia — A strong earthquake killed at least one person and damaged buildings on Indonesia’s main island of Java and shook the tourist hotspot of Bali, officials said Saturday. No tsunami warnings were posted. The U.S. Geological Survey said the magnitude 6.0 quake struck off the island's southern coast at 2:00 p.m. local time (0700 GMT). It was centred 45 kilometres (28 miles) south of Sumberpucung town of Malang District in East Java province, at a depth of 82 kilometres (51 miles). Rahmat Triyono, the head of Indonesia’s earthquake and tsunami centre, said in a statement the undersea earthquake did not have the potential to cause a tsunami. Still, he urged people to stay away from slopes of soil or rocks that have the potential for landslides. Falling rocks killed a woman on a motorcycle and badly injured her husband in East Java’s Lumajang district, vice district chief Indah Amperawati told MetroTV. Several homes were also reportedly damaged in the district. Television reports showed people running in panic from malls and buildings in several cities in East Java province. Indonesia’s search and rescue agency released videos and photos of damaged houses and buildings, including a ceiling at a hospital in Blitar, a city neighbouring Malang. Authorities were still collecting information about the full scale of casualties and damage in the affected areas. Indonesia, a vast archipelago of 270 million people, is frequently struck by earthquakes, volcanic eruptions and tsunamis because of its location on the “Ring of Fire,” an arc of volcanoes and fault lines in the Pacific Basin. In January, a magnitude 6.2 earthquake killed at least 105 people and injured nearly 6,500, while more than 92,000 displaced, after striking Mamuju and Majene districts in West Sulawesi province. Agus Basuki, The Associated Press
For the Philadelphia 76ers, Saturday night's road game against the Oklahoma City Thunder was to be an important milestone. The 76ers had hoped to play Joel Embiid on consecutive days for the first time since he missed 10 games with a bone bruise in his left knee. "All plans were to play Joel tomorrow, but he fell awkwardly, so now we'll have to wait and see," Philadelphia coach Doc Rivers said.
Due to the ongoing coronavirus pandemic, a physical condolence book will not be available for the public to sign
A shooting in a detention center for migrants in Libya's capital left one migrant dead and two others injured, an international charity said Saturday. The circumstances surrounding the shooting Thursday were not immediately clear and Doctors Without Borders said authorities have reportedly opened an investigation. One migrant was killed and two others, ages 17 and 18, were wounded and taken to a hospital run by the charity.
Candidates can accept the offered seat latest by 26 April, 23:55 hours. The result of the second round of seat allotment will be announced on 10 May followed by the Round 3 list on 10 June
Tyrone had better watch out.
All there is to know before the top-flight meeting
Everything you need to know ahead of the top-flight clash