Loans – A Camet Wed, 22 Sep 2021 20:57:04 +0000 en-US hourly 1 Loans – A Camet 32 32 Excel Corporation Hires Industry Veteran to Lead New Thu, 11 Mar 2021 06:15:03 +0000

IRVING, Texas, June 23, 2015 (GLOBE NEWSWIRE) – Excel Corporation (OTCQB: EXCC), a leading provider of integrated financial and transaction processing services to small and medium-sized businesses in the United States today announced that ‘He recently appointed the advancing cash merchant, industry veteran Bret Martin, as president of his wholly owned subsidiary, Excel Business Solutions Inc., which will do business as Mom & Pop Merchant Solutions. Since 2008, Mr. Martin has founded and managed several successful businesses in the areas of merchant cash advances, transaction processing, independent sales organization (ISO) development and training. As a leading provider in the merchant cash advance industry, Mr. Martin has placed millions of dollars in global cash advances during this period. Prior to entering the Merchant Services and Merchant Cash Advances industries, Mr. Martin founded a large mortgage brokerage firm in the United States which he sold in 2006.

“In addition to his current ISO relationship with merchant cash advances, Bret has already built several large national distribution networks, both in the merchant cash advances and transaction processing market segments,” he said. said TA “Kip” Hyde, Jr., CEO and President of Excel Corporation. “Bret brings a broad perspective and in-depth experience to building our own organization to sell cash advances to merchants and will play a key role in developing our distribution capabilities in this important business segment.

Martin added, “The merchant transaction processing services that Excel provides to its clients go hand in hand with providing these same clients with much-needed funding flexibility that they simply cannot get with many banks today. ‘hui. Businesses of all sizes, especially small and medium-sized businesses (SMEs) need capital to grow and we can help them provide them with the money they need to achieve their goals. needs of the SME market. “

About Excel Corporation

Based in Irving, Texas, Excel Corporation provides integrated financial and transaction processing services to merchants across the United States. With Securus Payments, Excel is a single source for virtually all types of merchant payment processing, including the new Apple Pay mobile payment and digital wallet service from Apple Inc. For more information, visit Through Mom & Pop Merchant Solutions, Excel provides merchant cash advance products to its small and medium-sized business customers who need capital to grow. Go to Excel operates as a National ISO and Member Services Provider (“MSP”), using its own direct sales and marketing teams and fully integrated customer relationship management systems to promote and support its thousands of merchant customers. With over 160 employees and a nationwide network of independent sales representatives, Excel is one of the largest ISO / MSP companies in the United States.

The common shares of Excel Corporation are traded over-the-counter under the ticker symbol: EXCC. Additional information about the Company can be found at

All statements of Excel Corporation in this press release that are not based on historical fact are “forward-looking statements” within the meaning of the PSLRA of 1995 and the provisions of Section 27A of the Securities Act of 1933, as as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the management of the Company has based all forward-looking statements contained in this document on its current expectations, the information on which those expectations were based may change. These forward-looking statements are based on a number of assumptions about future events and are subject to a number of risks, uncertainties and other factors, many of which are beyond the control of the Company, which could cause actual results differ materially from these statements. . These risks, uncertainties and other factors include, but are not necessarily limited to, those set out under the heading “Risk Factors” in the Company’s most recent Forms 10-K and 10-Q, and their modifications, as well as ‘other public filings with the SEC since that date. The Company operates in a competitive and rapidly changing environment, and new risks may arise. Therefore, investors should not rely on forward-looking statements as a prediction of actual results. The Company disclaims all intentions and assumes no obligation to update or revise any forward-looking statement.

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]]> Are you a revolver? What banks don’t tell you Thu, 11 Mar 2021 06:15:03 +0000

Dubai: If you found out that you are the most profitable customer through your credit card payments, would you change your spending habits?

The people who keep credit card balances from month to month, incurring interest and finance charges, are practically slots for credit card companies or banks.

They are called “revolvers”. The banks love them and intend to keep them as customers for as long as they can. Most guns don’t know they are. In cases where they know, they feel trapped. Or they are in denial.

Generally speaking, people can have good salaries but they collect stuff; by “stuff” I mean they must have the latest go pro, the latest iPhone, the latest TV, the latest car.

– Andrew Prince | Financial Advisor

A study on consumer debt stress caused by credit cards published in the Arabian Journal of Business and Management Review last month found that the majority of UAE residents who participated in the study only paid the minimum payment and carried balances from month to month.

Only 16% of the 250 respondents from five local UAE banks paid their credit card bills in full each month.

Dr Jaishu Antony, assistant professor of finance and accounting at City University College in Ajman, said he conducted the study because credit card mismanagement in the UAE persists despite extensive information about the risks poorly managed credit.

“A lot of people I know who have been in the UAE for a long time tell me that they are unable to properly manage their credit cards,” Antony told Gulf News.

Besides not paying their balances, many never check their monthly statements before paying their bills.

The majority of users have also shared their card usage with others and are making cash advances on their cards.

Making only the minimum credit card payments means you hardly pay back anything. Pretending that the problem does not exist will not make it go away.

-Bina Mathews | NLP Master Coach

“To pay off one card’s credit card bill, they’ll make a cash advance on another card. It’s like shifting your debt burden from one shoulder to the other. They just create more liabilities, ”said Antony.

United Arab Emirates Credit Cards Market

According to the UK-based Lafferty Group, a provider of knowledge services to the global financial industry, the UAE is the most profitable credit card market in the world based on profit pool analysis of the group with a card profit exceeding $ 200 (Dh 734) in 2016. There are approximately 5.9 million credit cards in circulation in the United Arab Emirates.

Due to their profit potential, debt, the most common of which is credit cards, is the most marketed financial product in the industry. Often, revolvers bite easily on the hook. Some end up having three to eight cards at a time.

“The first thing to stress is that banks … are a commercial organization,” Andrew Prince, professional financial adviser, told Gulf News.

But revolving credit isn’t necessarily bad all the time, Prince said, because there’s what’s called a “smart gun.”

“I am a gun, but so smart that my UK credit card very often gives me 12 months without interest [cash withdrawal]. So rather than spending my money on my rent, I take the 12-month interest-free credit card, pay the rent, and then every month in a disciplined manner, emphasizing the word discipline, I pay off that debt over 12 months. “

To pay off one card’s credit card bill, they’ll make a cash advance on another card. It is as if you are shifting the burden of your debt from one shoulder to the other.

– Dr Jaishu Antony | University College of the City

Revolvers generally have a dissociation with silver in general. This is due to the lack of financial education in school curricula.

Another reason to become a gun is the uncontrolled spending due to an emergency or peer pressure, ending up borrowing in the future to pay for today’s whims.

“Generally speaking, people can have good salaries but they collect stuff; by ‘stuff’ I mean they have to have the latest go pro, the latest iPhone, the latest TV, the latest car, ”Prince said.

Behaviour change

The common solution of revolvers is debt consolidation. But Prince said that wasn’t always the answer.

“One of the biggest challenges is getting people to change their ways. Back in the UK, when I was volunteering for the Citizens Advice charity, there was a perfect example of someone using revolving credit and racking up a high credit card bill. He took out another credit card to facilitate payments, then consolidated it into a bank loan. He wiped out the credit card but did not change his habits, so he ran into credit card debt again.

Prince said revolvers should educate themselves on what information is available on how to tackle debt such as the snowball or the debt avalanche.

Antony and Prince both said credit cards are a useful tool if used wisely. The decision to abuse it is ultimately up to the user.

“When the people from the bank come to you, you can also say no. You don’t need to have a credit card. It is not a necessity. You will survive without a credit card, ”said Antony.

“At the end of the day, it’s your life, your card, your decision. It’s up to you to manage it, not someone else.

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Israel signs official deal with Pfizer worth NIS 800million Thu, 11 Mar 2021 06:15:03 +0000

Israel signed a formal contract with Pfizer Inc. on Friday to receive eight million doses of its coronavirus vaccine candidate, if successful. Pfizer The vaccine will cost the country NIS 800 million, Ynet reported – NIS 100 per dose or NIS 200 per person, because each person needs two doses to be protected. Israel is supposed to provide Pfizer 120 million NIS. cash advance as of this week and an additional 680 million shekels. in January, when vaccines are supposed to start arriving.

“This is a great day for the State of Israel and a great day on the way to our victory over the coronavirus,” Prime Minister Benjamin Netanyahu said on Friday. “Today we see a light at the end of the tunnel. vaccines in Israel. On the contrary, Ynet wrote, the contract includes only an intention to do so “according to the circumstances”. effective. “After reaching a critical milestone in our vaccine development program, the world is starting to hope that a potential vaccine could actually help end this devastating global pandemic,” said Albert Bourla, CEO of Pfizer, during the presentation. signing of the contract with Israel. . “Today, we finalized a critical supply agreement with the Government of Israel that will provide the Israeli people with access to a COVID-19 vaccine once approved by regulatory authorities. Netanyahu added that “Our national mission is to enable immunization of every person in Israel.” … I am working with my colleagues around the world so that we can get the vaccine alongside the major countries of the world. Health Minister Yuli Edelstein also welcomed the signing of the deal, but warned Israelis should not become complacent. “There is no vaccine against complacency,” he said, reminding Israelis to follow health ministry regulations, wear masks and respect social distancing. On Saturday evening, the Department of Health reported that there were 748 people diagnosed with the new virus the day before and 137 between midnight and press time on Saturday. Out of 35,719 people screened, 2.1% of people tested positive. Some 294 people were in serious condition, including 130 who were intubated. The death toll has reached 2,720. Some 500,000 doses of the vaccine are expected to arrive in the country in January – enough to immunize 250,000 people. As such, the mass vaccination will not take place in January and probably not until the middle or the end of 2021, that is to say in about a year. Moreover, even if the Pfizer vaccine is successful and Israel receives its full allocation, only four million of the nearly 10 million Israeli citizens and resident non-citizens will be eligible for protection. According to Ynet, Israel has requested 18.5 million doses of the vaccine, but due to previous commitments to the United States and Europe, Pfizer has said it will provide no more than eight million. And another challenge remains: the Pfizer vaccine must be stored at 70 degrees negative. Celsius and this technology is still not available to transport the vaccine to Israel or secure it on arrival. The company said it is working on this technology and this process. Edelstein said on Friday that Israel was also working on other ways to deal with the virus, such as rapid tests. Israel has concluded vaccine deals with Moderna Inc. and Arcturus, two American companies. Hadassah-University Medical Center signed a memorandum of understanding with Russia for its Sputnik V vaccine, which last week reported 92% efficacy. Israel is also working on its own vaccine against the coronavirus, which was developed by the Israel Institute for Biological Research (IIBR). Hadassah said on Friday it had vaccinated 23 people with Brilife, the name of the IIBR vaccine candidate. “The 23 participants in their 20s to 50s have received the vaccine in the past two weeks and are feeling well,” said Professor Yossi Karko, director of the Clinical Research Center at Hadassah. “They did not suffer from any unusual side effects or medical problems after the vaccine, other than temporary tenderness at the injection site – as expected.” The hospital said patients report their feelings each day through a dedicated app and some have come in for checkups and have not needed any treatment. Ten more people are expected to be vaccinated at Hadassah this week and seven more the following week. A total of 40 people will participate in the phase I trial at the hospital. Some 40 volunteers are participating in the same trial through Sheba Medical Center. The hospital spokesperson did not have an updated number of people vaccinated. “We wish each other success along the way,” Karko said. Israel launched its Phase I trial of the IIBR vaccine on November 1. A phase II study, which will take place in additional medical centers, is expected to begin within the month. In this study, 960 volunteers between the ages of 18 and 85, some with underlying medical conditions, will be vaccinated. Phase II is intended to complete safety testing and determine the correct doses, as well as continue to assess efficacy. If the first two phases are successful, a phase III trial of 30,000 volunteers will begin in April or May for the final phase. Once successfully completed, the vaccine can be approved and the population can be vaccinated against the virus. The IIBR vaccine candidate is based on a well-known vaccination method, the institute said. What is new is the use of a vesicular stomatitis virus (VSV) – a type of virus that does not cause disease in humans. Through genetic engineering, proteins are attached to the VSV virus to form coronavirus “crowns” that are identified by the body as COVID-19. As a result, the body produces antibodies against it. The vaccine has already been tested in pigs and has been shown to be effective. Source link

How to use money in the bank to save on your mortgage Thu, 11 Mar 2021 06:15:03 +0000

Hi Nicole,
We have a compensatory mortgage account connected to our mortgage, and whatever we earn goes directly into it, to reduce the mortgage. We lived on our credit card for daily expenses for years, as you suggest, and paid off the credit card every month. However, I began to realize that we had to pay a cash advance amount for every transaction we made. I called Heritage Bank and they said, “Yes, every purchase is classified as a cash advance, so you immediately pay interest on that transaction.” I’m sure we weren’t used to charging interest in the past, as we’ve been doing for years. We have therefore decided to no longer use our credit cards and to make purchases only from our clearing account. Unfortunately, it comes out of this account right away, so doesn’t stay on our mortgage any longer. I would really appreciate your thoughts on this. Maybe it’s different with the other banks? Trac, Queensland

Well done for cleverly exploiting the banking system, with what I call the “steroid compensation strategy”. It helped me a lot to pay off my mortgage in just seven years, saving me about $ 200,000 in interest.

Put your savings to work by reducing the interest on your mortgage through a mortgage compensation accountCredit:Star of virginia

So let’s get it back because something is wrong with the charges you described.

If you wipe your entire credit card balance every month – as you say you do – you shouldn’t be paying a dime in interest. You should use the bank money for free to save yourself a lot of interest on home loans.

On an average loan of $ 400,000, if you have $ 30,000 in compensation (six months’ salary plus savings for your next vacation, car, couch), plus salaries of maybe $ 10,000 (like you live conservatively off your credit card), you save almost $ 85,000 in interest and save three years over the life of your loan.

Heritage Bank confirms that these are the only circumstances that would trigger a cash advance charge:

♦ Transfer of funds from your credit card account via Heritage Online or Heritage Access Line.

♦ Cash withdrawal, check withdrawal, manual transfer or over-the-counter transfer at a Heritage branch. This includes periodic payments established to transfer funds from your account to another account.

♦ Withdrawals at ATMs and EFTPOS.

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Biden’s transition team warns Kamala’s niece of fame Thu, 11 Mar 2021 06:15:02 +0000
Biden’s transition team warns Kamala’s niece against losing Kamala’s fame in the public service. Photo by @meena.

Newly appointed Vice-President Kamala harrisThe niece, Meenakshi “Meena” Harris, can make things a little tricky for the new administration. Her 3-year-old lifestyle brand, Phenomenal Woman, has just signed new deals and launched products that appear to be linked to her Aunt Kamala being elected vice president.

Biden-Harris transition team warned Meena she could not enjoy the image of her famous aunt after revealing a collaboration between his company and Beats By Dre, Axes reported.

Meena is a lawyer and founder and CEO of Phenomenal, as well as a New York Times bestselling author who published her first children’s book in June 2020. “Kamala and Maya’s Big Idea” is based on her mother, Maya, and her aunt. , Kamala. On January 19, Meena published a second book, “Ambitious Girl”.

During his presidential campaign, Joe Biden vowed that neither his family nor Harris’s would benefit from their service as president and vice president.

“My son, my family will not be involved in any business, any business that is in conflict or appears to be in conflict,” he said. noted in 2020.

Meena is the daughter of Kamala Harris’s sister, Maya. His latest trade deals cause an optical problem for Biden.

Meena’s company, Phenomenal, selected products with Beats By Dre including a black hoodie with the word “AMBITIOUS” on the front; a Bluetooth speaker with the word “PHENOMENAL” on it; and on-ear headphones. The headphones bear the words “The First But Not The Last” – an obvious reference to Kamala Harris becoming the first female vice president, Axios reported.

The products are not for sale but were offered to influencers and celebrities prior to the launch.

Apparently, the Biden-Harris transition team was not given advance notice of the collaboration, people familiar with the situation told Axios.

But Phenomenal has sold other Kamala Harris inspired items. They include a sweatshirt with “MVP” on it, depicting “Madam Vice President”, and another with the phrase “I speak” on the front – “a nod to a time when Kamala Harris walked away. complaint of being interrupted during a vice presidential debate, ”Axios reported. After Harris was criticized for being “too ambitious,” Meena created and sold a pink sweatshirt with “AMBITIOUS” written on the front.

“I consider her another figure in history and someone to celebrate,” Meena said of her aunt in an interview with The New York Times.

In addition to the original Phenomenal Woman t-shirt, Phenomenal has created other activist-focused campaigns and products such as # 1600Men, Phenomenal Voter, Phenomenally Black, Phenomenally Asian and Phenomenally Latina, Deadline reported.

In December, lawyers for the Presidential Transition Team began drafting new rules for the Biden White House that will likely be more restrictive than the rules that governed Barack Obama’s administration, The Washington Post reported.

Mena also partnered with the former Funny Or Die executive and former Obama White House executive, Brad Jenkins, to throw Phenomenal productions, Deadline reported.

Phenomenal Productions is a full-service creative production house that will produce videos, social content, design, and creative products for nonprofits, foundations, causes, and businesses.

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“Phenomenal Productions seeks to be at the intersection of culture and politics with a particular focus on communities of color and under-represented voting blocs,” Yahoo reported.

Meena launched Phenomenal Media in 2020. Its goal is to raise awareness of issues affecting underrepresented communities. The online platform included essays from Tamika Palmer, mother of Breonna Taylor, as well as WNBA players Nneka Ogwumike and Sue Bird.

Vice President Harris is close to Meena and Meena’s daughter. In fact, a video of Senator Harris with her toddler great-niece went viral during the campaign. Meena posted the clip of her 4-year-old daughter sitting on her great-aunt’s lap and expressing her desire to be president.

In the video, Kamala Harris tells her great-niece, “You could be president” before explaining that she should be at least 35 years old, The Grio reported. The little girl quickly responded by telling Harris that she also wanted to be “an astronaut.”

Twitter responded warmly to Meena after posting a family photo on January 19 with the words “COUSINS DO DC !!!!!!!!”

“Honestly, I am so happy for your family and our country,” one user replied.

“A normal family,” tweeted another.

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]]> California NAACP leader quits after taking money from big business and surety industry to oppose abolition of cash surety bond Thu, 11 Mar 2021 06:15:02 +0000
California NAACP leader resigns after taking money from big business and the surety industry to oppose the abolition of the cash bond Photo: Alice Huffman, president of the California NAACP, takes speaking at a press conference, May 4, 2016 (AP Photo / Jeff Chiu)

The longtime California NAACP leader resigned amid conflict of interest allegations after her private company earned $ 1.7 million approving the voting measures earlier this year.

Alice Huffman, 84, claimed health issues led to her resignation as chair of the California Hawaii State Conference from the NAACP. She plans to resign on December 1. The allegations have nothing to do with her decision to leave the post she has held since 1999, she said.

“It was a demanding and rewarding job,” Huffman said in an interview with The Los Angeles Times. “But it’s time to hand over the leadership to someone else.”

Huffman comes under scrutiny for her work on various election measures campaigns in the November 2020 election. She is accused of taking money from big business and the bond industry in exchange for his opposition to the abolition of the cash bond, among others.

In addition to her position at the NAACP, Huffman runs AC Public Affairs, a political consultancy in Sacramento that she runs with her sister. Ahead of the 2020 election, AC Public Affairs worked for opposition campaigns on five ballot measures, according to state campaign finance records.

The surety industry’s campaign against Proposition 25 hired Huffman’s company, paying him $ 200,000 to oppose a plan to abolish California cash deposit system. The measurement failed.

The push to abolish the cash bond system in California was led by a group of billionaires.

The the four main donors to a committee called Yes On Prop 25, A Coalition Of Justice Reform And Labor Organizations, were billionaires or the spouse of a billionaire, Forbes reported.

John Arnold of Texas, who donated $ 5 million to support the committee, was the largest individual donor. Arnold is a former hedge fund manager turned philanthropist. He now heads his charitable and activist arm, Arnold Ventures (formerly known as the Laura and John Arnold Foundation).

The second and third biggest donors to Yes On Prop 25 were Steve and Connie Ballmer, who each donated $ 3 million to support its passage. Steve Ballmer was the longtime CEO of Microsoft. Patty Quillin, wife of Netflix co-founder Reed Hastings, has donated $ 1 million to support Proposal 25. Other billionaire donors include Tom Steyer, a retired hedge fund investor and former Democratic 2020 presidential candidate , who donated $ 500,000, and Oklahoma-based philanthropist Lynn Schusterman, who donated $ 250,000.

Proposition 25, a referendum on a law former California Governor Jerry Brown signed in 2018, sought to replace the cash bond with a risk-based algorithm. If passed, the new system would allow some people unable to pay a cash bond to be released until trial depending on the risk they proposed.

Supporters of Proposition 25 included the state Democratic Party, Governor Gavin Newsom and Steven Bradford, vice-chair of the California Legislative Black Caucus.

The main opposition came from American Bail Coalition, a trade association of national bail insurance companies, reported Forbes.

The California NAACP officially opposed the use of an algorithm. “Computer models can be useful in recommending songs and movies, but using these profiling methods to decide who gets a loan has been proven to hurt communities of color,” Huffman wrote in the article. the state. voter guide for the section of arguments against proposition 25.

In a campaign ad for No on proposition 25 Hoffman wrote: “Prop. 25 terminates our right to post bond for anyone, even though they may have been the subject of racial profiling. The prop. 25 replaces the deposit with computer algorithms. University studies show that these algorithms are biased. Some call them black boxes. And the new bureaucracy of Proposition 25 delays justice for the imprisoned innocent people. The NAACP asks you to vote no on Proposition 25.

Huffman’s statement has been criticized as misleading, The Sacramento Bee reported.

While she is correct that Proposition 25 would have ended the bail in the state of California, she is misleading when she says it replaces the bail with a computer algorithm.

While the pre-trial risk assessment model analyzes whether a person is at risk of reoffending or not appearing in court and uses computer algorithms, “judicial officers remain the final authority to make decisions on release or pre-trial detention”, according to the judicial branch from California.

Judges have the power to override these recommendations.

Huffman also weighed in on other controversial proposals in the November poll. She sided with the ridesharing companies that supported Proposition 22, which was approved by voters. The measure will allow Uber, Lyft and their peers to continue to classify drivers as independent contractors, making them ineligible for benefits such as health insurance. Huffman’s company received $ 95,000 for consulting services.

Huffman’s opposition to Proposition 23, to impose new rules on kidney dialysis companies, brought his company $ 85,000. The proposal was rejected by voters.

AC Public Affairs earned $ 740,000 from campaigning against Proposition 15. Ultimately rejected by voters, Proposition 15 would have increased property taxes on businesses to increase funding for schools and local services, the LA Times reported.

Homeowner groups and other proponents of Proposition 21 donated $ 620,000 to the Huffman Company to help it fight a rent control measure who also failed in the election.

Huffman said she hadn’t done anything wrong. She said she only works with campaigns that the state’s NAACP has endorsed and that “her critics are often Democrats who feel she’s gone outside the box,” the LA Times reported.

“Huffman’s dual role as a paid campaign consultant and leader of a much-vaunted civil rights group is an unusual – but legal arrangement,” Cal Matters reported.

Huffman’s small business was paid by five election campaigns in 2020, according to public records – more than it took in the previous election. Many of them are funded by business interests at war with the unions, Cal Matters reported.

While trade deals like this may be legal and routine for political campaigns that hire strategists, it is unusual for consultants to be associated with “a brand as well known as the NAACP for its anti-discrimination work over the years. of the last century, ”Cal Business reported.

Critics said the inner workings of the NAACP lacked transparency.

Darrell Goode, president of the Santa Monica-Venice branch of the NAACP, complained that he was unable to obtain meeting minutes showing how the state board voted on the voting measures . Goode said he sent a request to the National NAACP requesting an investigation of Huffman and other members of the NAACP board, alleging a “lack of transparency and an apparent conflict of interest.”

Goode said in the letter that an investigation is needed to “restore our tarnished image.” Huffman is a member of the board of directors of the National NAACP.

“We’ve raised these issues before,” Goode told the LA Times. “We have told people not to be silent, and we are not silent either. It is more obvious this time because there were so many key proposals for the communities. We must stand up for what is right.

Goode isn’t the only one complaining. In November, the state’s political watchdog, the Fair Political Practices Commission (FPPC), received an anonymous letter asking if there was a conflict of interest regarding Huffman and his firm’s involvement in proposals.

“I am very concerned that, in speaking about his leadership of the NAACP, these advertisements are misleading minority voters into supporting positions that may not be aligned with their political interests,” it reads. the complaint.

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The Fair Political Practices Commission said the complaint was under review.

Huffman has denied all allegations of conflict of interest, saying “everything I did was legal.”

The California State NAACP has had problems in the past. In 2016, the FPPC fined him for failing to disclose $ 67,000 spent on lobbying efforts.

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Royal Caribbean Visa Signature Review Thu, 11 Mar 2021 06:15:02 +0000

The Royal Caribbean Visa Signature Credit Card is not one of the top rated reward credit cards to review our list of the best rewards credit cards for what we think are better options.

Full Royal Caribbean Visa Signing Review


  • Easy to earn bonus worth up to $ 200

  • $ 50 off airline tickets on Royal Caribbean’s Air2Sea program with qualifying purchases

  • Higher points earning rate available for three cruise lines

  • No annual fee

The inconvenients

  • MyCruise points are only valid for cruise exchange options

  • Points earning rates are not exceptional

  • Points expire after five years

  • Limit of 540,000 MyCruise points per year

Benefits explained

  • Easy to earn bonus worth up to $ 200: You can earn the 10,000 MyCruise point bonus, worth $ 100, simply by completing a single transaction within the first 90 days of opening the account. This transaction can be a purchase, balance transfer, or cash advance. Many other cards require you to spend between $ 500 and $ 5,000 or more to earn their bonuses. Additionally, this card offers a $ 100 statement credit after making purchases of $ 1,000 or more within 90 days, a more standard bonus in addition to the easy-to-earn bonus.
  • $ 50 off airline tickets on Royal Caribbean’s Air2Sea program with qualifying purchases: As a new Visa cardholder, you can receive a $ 50 reduction on an airline ticket purchased through Royal Caribbean’s Air2 Sea program if you make at least $ 3,500 in purchases with your card during the first 90 days after opening the account. This discount, which expires 18 months after issuance, will be credited to your reservation after final payment of your cruise reservation. You must also book your plane ticket as part of a Royal Caribbean cruise reservation. In addition, there is a non-refundable reservation fee of $ 15 for North American destinations and $ 25 for international destinations.

All in all, this perk could come in handy if you still got the $ 50 rebate from spending that you already intended to put on this card, and were planning to use the Air2Sea program as well. Otherwise, you are spending thousands of dollars on a credit card for a relatively small advantage over bonuses offered by other cards with similar spending requirements.

  • Higher point earning rate available for three cruise lines: You are not limited to earning 2 MyCruise points per dollar only on Royal Caribbean purchases. This higher earning rate also extends to Celebrity Cruises and Azamara.
  • No annual fee: This card does not charge an annual fee. This means you can keep your card without having to assess whether the rewards and other perks potentially justify the cost of the annual fee.

Disadvantages Explained

  • MyCruise Points only valid for cruise exchange options: You can redeem your MyCruise points for a variety of rewards, but they all involve cruises, cruise-related merchandise, or charitable donations. For people who don’t always want to redeem their rewards for cruises, this can be a significant downside compared to cash back cards that allow you to use your rewards for just about anything.
  • Points earning rates are not exceptional: You earn 2 MyCruise points per dollar spent only on qualifying Royal Caribbean, Celebrity Cruises and Azamara purchases. Many other reward credit cards offer a wider variety of payout categories and some have higher reward rates. The 1 MyCruise point per dollar spent anywhere else is lacking compared to simple credit cards with 1.5% or 2% cash back.
  • Points expire after five years: MyCruise points expire five years after the month they were earned. If you save to redeem your points for a free cruise, that may not be enough to earn enough. Some other credit card rewards programs have points that never expire.
  • Limit of 540,000 MyCruise points per year: The rewards program limits the number of MyCruise points you can earn each calendar year to 540,000. Although this limit is high, many other rewards programs do not put a cap on the number of points you can earn.

The Royal Caribbean Visa Signature card may be of interest to frequent cruise passengers from Royal Caribbean, Celebrity Cruises or Azamara, if they spend enough money with these cruise lines and carefully redeem their points for maximum value. However, the low point rate on all other purchases and less than optimal rewards redemption options mean another credit card would likely offer more value.

Royal Caribbean Visa Signature Bonus

You can earn 10,000 MyCruise points by making a single transaction on your card within the first 90 days of opening the account. For the purposes of this bonus, a transaction is considered a purchase, balance transfer or cash advance. When redeemed for their maximum value, those 10,000 MyCruise points could be worth up to $ 200 for some premium cruise options, although their average value of $ 0.01 per point (according to Investopedia assessment) would only return the bonus for $ 100. The bonus is only for new accounts and will not apply to account conversion requests. Bonus points take approximately six to eight weeks to be credited to your account once you have qualified.

In addition to the points bonus, this card offers a $ 100 statement credit for new cardholders. Once you make purchases of $ 1,000 or more within 90 days of opening your account, you will see the statement credit applied within eight to twelve weeks.

Reward Details

The Royal Caribbean Visa Signature card allows you to earn 2 MyCruise points per dollar on qualifying purchases made through Royal Caribbean, Celebrity Cruises or Azamara. You will also earn 1 MyCruise point per dollar on all other purchases. These reward rates are low when you consider that other credit cards offer up to 2% cash back on all purchases and sometimes higher reward rates in specific spending categories.

The points you earn expire five years after the month they were earned. Additionally, you are limited to earning 540,000 MyCruise Points in any given calendar year. If your account is closed for any reason, any points that have not yet been redeemed will be forfeited.

Details on how to use rewards

You can redeem your MyCruise reward points for several options starting at 1000 points. Unfortunately, all redemption options are for cruises, cruise cargo, or charitable donations. The rewards options give point values ​​of around 1 to 2 cents.

You need to be careful when redeeming your rewards to make sure you get the maximum value. For example, you can redeem 50,000 MyCruise points for a three or four night Royal Caribbean cruise. The cruise can have a value of up to $ 1,000, but the reward is only valid for the minimum ocean view cabin available. If that cabin is worth less than $ 1,000 for the cruise you book, you will not receive the full value of 2 cents per MyCruise point.

How to Maximize Your Rewards

Maximizing your rewards with the Royal Caribbean Visa Signature card is a two-part process. First of all, you need to earn all MyCruise points and possible benefits. This includes completing a trade in the first 90 days to collect the 10,000 point bonus, as well as spending $ 1,000 in the first 90 days to get the $ 100 and 3,500 statement credit. $ during the first 90 days to get the $ 50 rebate on Royal Caribbean’s Air2Sea program.

You would also want to put all of your qualifying Royal Caribbean, Celebrity Cruises and Azamara purchases on the card to earn the 2 MyCruise points per dollar spent. Keep in mind that you can probably earn higher value on all other purchases by putting them on another credit card that earns more than 1% cash back.

Then, once you’ve accumulated enough MyCruise points, redeem them for an option that allows up to 2 cents of value per point and consider any cash back earned on another card as partial compensation for the additional costs associated with the cruise.

Standard benefits

  • $ 50 Air2Sea rebate with $ 3,500 spent in the first 90 days
  • No foreign transaction fees

Cardholder experience

In JD Power’s 2020 US Credit Card Satisfaction Study, Bank of America, which issues the Royal Caribbean Visa Signature card, received a score of 812 out of 1,000. The average score for domestic issuers was from 810.

This card gives you free access to your FICO score, updated monthly, through the mobile banking app or the bank’s website. If you have any questions and need to contact customer service, they are available 24/7 at 800-732-9194.

Security functions

The Royal Caribbean Visa Signature card is equipped with contactless chip technology. This allows you to make purchases on contactless terminals as well as those that only accept chip and PIN transactions. Otherwise, the security features of this card meet industry standards.

Fees to watch out for

The fees on this card are relatively standard for the industry. On the bright side, it has no annual fee and does not charge overseas transaction fees, which can be a money-saver when visiting overseas ports. However, if you make a late payment you will be subject to a variable APR penalty of up to 29.99%. And once you’ve triggered the APR penalty, it will apply to new purchases indefinitely.

Our verdict

The Royal Caribbean Visa Signature card can be useful for people who sail frequently with Royal Caribbean, Celebrity Cruises or Azamara. It doesn’t charge an annual fee or overseas transaction fees, and the 10,000 MyCruise point bonus for completing a transaction in the first 90 days could help pay for part of your cruise. But for non-qualifying and non-cruise purchases, you’ll likely get more value using a separate card, like the Citi Double Cash, which offers 1% cash back on purchases and an additional $ 1 cash back. % when you pay for these purchases.

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Banks Prepare for Consumers to Avoid Credit Card Payments Thu, 11 Mar 2021 06:15:02 +0000

Credit card payments are often among the first loans people stop paying during economic crises because they are usually unsecured. Lenders are bracing for this to be the case during the COVID-19 crisis.

Indeed, the NAB Financial Anxiety Index rose for the third consecutive quarter in the first quarter of 2020, with 4 in 10 Australians reporting having experienced some form of stress or financial difficulty in the past three months. Banks are therefore preparing to face more difficult times alongside their customers, as consumer spending is an important source of income.

Westpac has announced a three-month hiatus on refunds and interest for customers who have been affected by the COVID-19 pandemic, and will not require those customers to make refunds during that time.

As part of Westpac’s support program, consumers will not be charged or accrued interest on new card purchases or cash advances (although a cash advance fee still applies) nor will they accumulate interest on existing amounts owed.

To be eligible, Westpac credit card holders will need to have been up to date with minimum refunds at some point in the past 90 days and have had the credit card on 1st January. You can view all of the requirements for Westpac’s Credit Card Relief Package. here.

Stock images from Westpac Bank in Adelaide on Wednesday, December 11, 2019 (AAP Image / Kelly Barnes) NO ARCHIVE

Most of the major Australian banks continue to charge interest but have lowered their rates. For example, starting today, NAB reduces the minimum monthly payment to 0.5% of the closing balance until at least 24e July. NAB also reduces the standard purchase interest rate on personal NAB Low Rate Classic cards to 12.99%.

ANZ does not yet offer lower rates. Instead, the bank encourages customers facing financial difficulties to contact them to switch to a product with lower interest rates or credit limits.

CommBank will reimburse late payment charges and / or interest for March 2020 for qualifying credit card holders, but has not specified whether this will be extended until April.

ING allows credit card payments to be suspended for three to six months, but interest and charges will still accrue during this period.

Given the difficult times ahead, we may see the major banks introduce more support measures. Today, Roy Morgan reported that a staggering 10.5 million Australian workers have seen their employment situation altered by the COVID-19 pandemic, of which 2.7 million have been dismissed.

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Citi Simplicity credit cards review 2020 – Forbes Advisor Thu, 11 Mar 2021 06:15:02 +0000

Citi Simplicity® Card vs Chase Freedom Flex℠

The Chase Freedom Flex Card offers an impressive 5% cash back on purchases of up to $ 1,500 in rotating quarterly bonus categories when activated. Plus, cardholders get 5% cash back on travel purchases made through the Chase Ultimate Rewards portal, 3% cash back on restaurant meals and drugstore purchases, and cash back 1% on all other purchases.

The Chase Freedom Flex has no annual fee and offers an introductory 0% APR on purchases for 15 months; however, the introductory APR does not apply to balance transfers. After the introductory period, the variable APR is between 14.99 and 23.74% Variable.

For those looking for an everyday shopping card with an introductory 0% APR on purchases and an attractive rewards program, Chase Freedom Flex is a great choice. Citi Simplicity remains a better choice as a balance transfer card.

Citi Simplicity® Card vs. Amex EveryDay® Credit Card*

The American Express EveryDay card works exactly as the name suggests: it allows you to earn money on daily purchases with 2 Membership Rewards points per dollar spent on purchases in American supermarkets and 1 point per dollar on all others purchases. There is also an incentive to use the card as often as possible; cardholders earn 20% more points if the card is used 20 or more times during a billing cycle. In addition, the card offers a welcome bonus: earn 10,000 Membership Rewards® points after spending $ 1,000 on qualifying purchases on the card during the first 3 months of card membership.

The Amex Everyday card also has no annual fee and offers an introductory APR of 0% on purchases for 15 months. After that, the variable APR is 12.99% to 23.99% variable APR on purchases. A great card for everyday purchases, the card is not an ideal choice for someone interested in balance transfers. For those, Citi Simplicity always wins.

Citi Simplicity® Card vs. Wells Fargo Platinum Card

The Wells Fargo Platinum card is the most similar to Citi Simplicity of the cards we compared here; it has no annual fee, no rewards program, and also offers an introductory APR of 0% for 18 months from opening the account on purchases and an introductory APR of 0% for 18 months on qualifying balance transfers.

This is where the paths diverge: The Wells Fargo Platinum APR is between 16.49% and 24.49% (variable). The lower end of this range is quite high. Although the card offers travel benefits such as travel accident insurance and roadside assistance, unless the card is used to finance a trip, there is no real incentive to choose it. rather than Citi Simplicity. Other than these travel benefits, which arguably would be best paired with a card that will reward travel purchases and provide the experiences that accompany them, the Wells Fargo Platinum offers nothing that Citi Simplicity does not.

With a lower standard rate APR after the APR launch period, Citi Simplicity might be a better bet as a balance transfer or debt management card.
histles of a rewards card.

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Man who allegedly defrauded veterans of superannuation and disability awards for 7 years fined $ 1 Thu, 11 Mar 2021 06:15:02 +0000

A man accused of giving cash advances with excessively high interest rates to veterans while disguising the transactions as interest-free sales was ordered to pay a settlement after it was determined he had ” caused serious harm “by swindling veterans off of their disability and retirement allowance.

A financial agent for several loan companies from 2011 to 2018, Mark Corbett is said to have offered to send lump sum payments to veterans – some payments amounting to tens of thousands of dollars – in return for receiving all or part of the pension. veteran’s monthly. or disability benefits for a period of five to ten years, depending on a January 23 Consent Ordinance.

And what did the Consumer Financial Protection Bureau deem necessary for these fraudulent transactions? A dollar, which he was comically ordered to pay within 10 days by bank transfer or else to suffer the accumulation of interest on the said dollar.

The miniscule sum “counts for Corbett’s inability to pay more based on the sworn financial statements he has provided to the Bureau and Corbett’s continued cooperation with the Bureau’s investigation,” according to the order.

Seven Year Disability and Retirement Veterans Review? Your rule, sir, is a McChicken sandwich.

The office concluded in its investigation that Corbett never accurately conveyed the exorbitant interest charges veterans would incur after signing the contract. Instead, he would have presented the exchange as a sale.

“Please keep in mind this is not a loan,” the new vendor information packet Corbett would send to veterans. “You are selling a product at a fixed price. “

Additionally, Corbett ignored a federal law that prevents pension payments from being reallocated to another party, a law that would have voided contracts put in place by Corbett requiring veterans to access their VA or DFAS online portal. and reconnect their direct deposits to accounts controlled by companies. he worked for.

Several veterans reportedly complained to Corbett that such transactions were illegal, but he would repeatedly reassure them that no laws were being broken, according to the report.

The names of Corbett’s employers were withheld from the report.

Veterans were also required, as part of the contract, to purchase life insurance policies to ensure that any outstanding amounts would still be paid if that Veteran died before all financial obligations were met.

As part of the ruling, Corbett was, unsurprisingly, banned from “negotiating, proposing or arranging agreements between veterans and third parties under which the veteran claims to sell a future right to income from the veteran’s pension.” , according to the ordinance.

An entirely separate federal lawsuit in 2017 filed by three veterans, meanwhile, names Corbett as the one who swindled them out of millions of dollars in retirement and disability awards, Stars and stripes reported.

It is still unclear what effect this ruling will have on this case.

The office partnered with the Arkansas Attorney General’s Office and the South Carolina Department of Consumer Affairs in its investigation.

JD Simkins is a writer and editor for Military Times, and a USMC veteran.

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