Ruth Bader Ginsburg Paved the Way for Women to Get Credit Cards
If you are a woman who holds a credit card, you owe it in large part to the efforts of Ruth Bader Ginsburg. In Reed v. Reed, the landmark 1971 case highlighted in the 2018 film “On The Basis Of Sex”, Ginsburg co-wrote a brief arguing that a provision of Idaho state law which said men were to be preferred to women in appointing the administrators of an estate violated the Constitution. The court agreed, finding unanimously that dissimilar treatment, “on the basis of sex,” between men and women was unconstitutional. [NextAdvisor]
Here’s Who Qualifies for Chase Sapphire Preferred’s New Massive, Limited-Time 80,000-Point Welcome Bonus
Chase just released its highest ever welcome bonus: eligible new Chase Sapphire Preferred Card applicants can earn 80,000
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While most folks seem to be traveling much less these days, if at all, hotel credit cards can still be an important part of any savvy traveler’s rewards strategy—especially once social distancing restrictions begin to ease and borders start to reopen. For the time being, even a huge welcome offer of 100,000 points or more might not be quite enough to get you to open or use a hotel credit card.
CNN Underscored reviews financial products such as credit cards and bank accounts based on their overall value. We may receive a commission through The Points Guy affiliate network if you apply and are approved for a card, but our reporting is always independent and objective.
The old saying “Cash is king” might never have been as true as it is right now. One of the best perks of using a credit card is that you can earn rewards on your everyday spending, and while many people like to earn travel points or miles to redeem for a once-in-a-lifetime trip, those plans are on pause for many right now.
So, instead of using a credit card that earns rewards for a vacation that might not be happening in the near future, you may be better off with a card that gives you cash back almost instantly. Having cash in your pocket
Image source: Getty Images
If you’ve ever read about things you should look at before you apply for a credit card, there’s a good chance APR was on the list. This popular piece of advice seems logical enough. A credit card’s APR is its interest rate, and the card issuer can charge you that rate on any balance you don’t pay off by the due date.
But as smart as this advice sounds, it’s completely wrong. APR isn’t a factor to look at when you’re credit card shopping, unless you specifically want a 0% intro APR card. Don’t apply for the wrong credit card based on bad information, find out instead why a credit card’s APR shouldn’t matter.
Why a credit card’s APR is irrelevant
A credit card’s APR isn’t an important feature because you should never pay any credit card interest. And if you’re never getting charged interest, then
SAN FRANCISCO, Sept. 22, 2020 /PRNewswire/ — LendingClub Corporation (NYSE: LC), America’s largest online lending marketplace connecting borrowers and investors, today released findings from two recent studies on member financial health and payment behavior before and during the novel coronavirus (COVID-19). Conducted in January and June 2020, the studies sought to understand member behavior before and during the coronavirus-driven recession and how they make decisions regarding prioritization of bills and expenses in relation to their long-term financial goals.
The key takeaway: Customers are prioritizing personal loan payments over their credit cards. These findings support recent assertions from TransUnion suggesting that personal loan delinquency rates were either in line with, or performed better than, credit cards across most credit tiers during the Great Recession.
The findings show that:
- Despite their overall high levels of income ($90,000 average) and healthy credit profile (700 average), financial stress affected the day
India’s own card payment network, RuPay, is suffering because of the discriminatory pricing structure by the central government, a study by the Indian Institute of Technology, Bombay, has found.
To bring RuPay at the same level as the other card networks, the study has suggested a MDR cap of 0.6 percent for debit card transactions.
The study, Merchant transactions through debit cards – costs and prices, conducted by Professor Ashish Das of the Mathematics department, has found less RuPay debit cards being issued by banks from September 2019 to August 2020.
Only 65 lakh debit cards have been issued in the period, compared to 4.6 crore cards in the corresponding period of the previous year, the study found.
More Jan Dhan accounts, less RuPay cards
Das argues that this happened when 3.6 crore new Jan Dhan accounts
LendingClub (NYSE:LC), a top marketplace lender serving consumers, says two recent studies indicate that personal loan payments take priority over paying off credit cards. Of course, this is good news for LendingClub – a long time advocate of cheaper personal loans versus expensive credit card debt. LendingClub has criticized expensive credit debt in the past as a big problem for consumers stuck in a debt trap.
The key takeaways of the studies are:
- Despite their overall high levels of income ($90,000 average) and healthy credit profile (700 average), financial stress affected the day to day lives of 77% of members before taking a personal loan with LendingClub.
- In addition, 89% say personal loans helped them get closer to their financial goals.
- And, 90% of members surveyed say LendingClub has helped them save money on their existing debt, allowing them to start saving so they can live more comfortably, worry less,
Delta Air Lines credit cards have significantly boosted welcome offers for new cardholders, dangling thousands more Delta SkyMiles as an incentive to apply for an airline card during the worldwide pandemic, when relatively few people are flying.
Here are the welcome offers for new holders of these cards by American Express:
Delta SkyMiles® Gold American Express Card
New: Earn 50,000 bonus miles after you spend $2,000 in purchases on your new Card in your first 3 months, Offer Expires 10/28/2020. Terms Apply.
Old: Earn 35,000 bonus miles after you spend $1,000 in purchases on your new Card in your first 3 months. Terms Apply.
Annual fee: $0 intro for
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Supreme Court Justice Ruth Bader Ginsburg, who died Friday, September 18, is mourned by millions as a trailblazer who paved the way for women’s rights and gender equality. But there’s a less known aspect of her legal work that has had profound consequences in the world of finance: if you are a woman who holds a credit card, you owe it in large part to the efforts of Ruth Bader Ginsburg.
Until the mid-1970s, banks and other financial institutions denied married women in the U.S. credit cards or loans in their own name, and single women also had trouble getting credit.
Enter the Equal Credit Opportunity