Gen X and Baby Boomers Rely on Credit Cards More than Millennials

Gen X and Baby Boomers Rely on Credit Cards More than Millennials

Millennials are less likely to use plastic and many feel credit cards aren’t required
August 21, 2015: 12:00 PM ET

CHARLOTTE, N.C., Aug. 21, 2015 /PRNewswire/ — LendingTree, the nation’s leading online loan marketplace, recently conducted a survey among a nationally representative sample of 3,170 Americans to gain insight into credit card behaviors, sentiments and trends. Most notably, the survey data suggests that younger generations are less reliant on credit cards than previous generations. Additionally, both Gen Xers...

Father accused of robbing South Lyon Vibe Credit Union to pay for daughter’s …

SOUTH LYON, Mich. (WXYZ) – The family of 23-year-old Brian Randolph says the only reason the Oakland County man robbed a bank was to pay for his young daughters chemo treatments.

Now, hes being held on $500,000 bond.

He just asked me, when am I gonna get out of here. I said you may not get out of here, says Karri Mitchell, Randolphs attorney.

Randolph was arrested August 14th, two days after police say he robbed a Vibe Credit Union in South Lyon.

Debt Consolidation USA Shares Financial Benefits Of House Downsizing

Debt Consolidation USA shared in a recently published article how consumers would benefit in downsizing their house. The article titled What Financial Benefits To Expect When You Downsize Your Home points out some of the key financial benefits that comes with choosing to live in a smaller house.

Los Angeles-Long Beach, CA (PRWEB) August 21, 2015

Debt Consolidation USA shared in a recently published article how consumers would benefit in downsizing their house. The article titled What Financial Benefits To Expect When You Downsize Your Home points out some of the key financial benefits that come with choosing to live in a smaller house.

The article starts off by pointing...

Debt Consolidation USA Explains Common Reasons For Financial Problems

Debt Consolidation USA recently shared in an article some of the common causes of money problems of American consumers. The article, titled 6 Reasons Why You Are Having Financial Problems, aims to lay out some of the reasons behind these financial problems to educate consumers and help make financial management a little better.

New York, NY (PRWEB) August 09, 2015

Debt Consolidation USA recently shared in an article some of the common causes of money problems of American consumers. The article, titled 6 Reasons Why You Are Having Financial Problems, aims to lay out some of the reasons behind these financial problems to educate consumers and help make financial management a little...

African American Wealth: Real talk with real experts

The first in a special three-part series of financial planning discussions with black financial experts hosted by Prudential Financial Inc.

During a recent morning seminar at Minneapolis’ Hilton hotel, I was hit with the sudden realization of how the minor purchases I make during the week -morning lattes, breakfast sandwich, lunch out, ┬áreally do impact my financial future in a major way. The panel of leading financial experts seated in the front of the room at the 2015 National Association of Black Journalists Conference drove that point home and made me a believer, sharing real-life examples of wealth building and exciting news regarding the economic outlook for African American...

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Why Personal Loans Are Making a Comeback

Once upon a time, young professionals and college grads who took out personal loans were thought to be financially troubled in a big way.

But after the financial crisis sent more and more college graduates back to school to gain MBAs, PhDs and more credibility with employers, consolidating student loans has actually become the norm after graduation, said Dave Hardin, president of Hardin Financial Group in Bloomfield Hills, Mich.

“If I had taken out a personal loan back in the 60, anyone that knew about it would have thought that I was desperate,” said Hardin.┬áBut “college graduates and student loan debt have created a new scenario where debt consolidation...

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How Marketplace Lenders Will Save Financial Services

Todd Baker argued in a recent op-ed in American Banker that marketplace lenders are a systemic risk and need greater regulation. While his intentions are good, his rationale is flawed.

MPLs are already regulated by multiple agencies. They reduce the financial systems leverage, provide greater financial transparency and ultimately deliver a better product to consumers and investors. In fact, the product is so much better that banks are some of the biggest buyers of MPL loans.

MPLs are a diverse lot. Lending Club and Prosper have historically focused on debt consolidation. OnDeck and Funding Circle have emphasized small business lending. SoFi and CommonBond started in student...

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Credit Market Opportunities Seen After Ugly Selloff

The wider spreads in corporate credit markets that have opened up this week may eventually prove irresistible to fixed-income investors, who still see corporate bonds as the yield-enhancing asset class of choice, Bloomberg strategist Simon Ballard writes.

While investor sentiment remains fragile after Mondays incredibly ugly selloff, underlying fundamentals are generally stable and further fallout may be limited by seasonal considerations. With many traders and portfolio managers away on vacation, corporate bond trading volumes, new issue activity and generic liquidity remain muted for now.

Although theres little evidence so far that investors might interpret current wider spread...

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Building wealth through personal relations

In the last few months I have had many experiences with different organizations where their treatment of the customer was less than stellar. In some instances telephone calls were put through with promises to return my calls, to no avail. In other cases emails are sent to addresses meant for the purpose, and even visits made to physical locations yet no feedback.

I have had no choice but to come to the conclusion that most organizations seem to take the customer for granted. This unacceptable behavior is prevalent in a wide spectrum of industries, both private and government owned. The government owned enterprises feel that since the customer does not have an alternative but to patronize...

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Insurers double premiums for homeowners with poor credit

(Photo: Shutterstock/NorSob)

Homeowners with poor credit pay twice as much for homeowners insurance as those with excellent credit, a new study revealed. The study, conducted by insurancequotes.com, showed that homeowners with fair credit pay 32% more than those with excellent credit, up from 29% in 2014, while premiums of those with poor credit may increase by 100%, up from 91% in 2014.

Homeowners with poor credit pay at least twice as much as those with excellent credit in 38 states and Washington, DC The highest in the nation is West Virginia with a 202% increase, followed by Washington, DC, with 185%, then Montana with...