This week’s (un)lucky number is: 40
That is the percentage of banks that have tightened their lending standards on people looking for credit cards who have subprime credit. So, no more of this Oprah-ing of credit cards (“you get a credit card and you get a credit card and you get a credit card”). It seems that, for the foreseeable future, it’s going to be a little harder for Americans with a score lower than 580 to get a credit card.
These are the things to look forward to this week.
Forgive and forget: Monday is International Day of Forgiveness, but don’t count on your credit card company forgiving your debt. Instead, think about settling it, but don’t fall for these eight myths in the process. And while you’re at it, forgive that friend who forgot to return your Season 1 DVD of “The O.C.,” to whom you haven’t talked since.
Expert advice: Paying your bills is such a drag, unless it’s someone else’s money. So, use your credit card company’s money to pay them back. This is totally legal, I promise. Just use these payment strategies to rack up the rewards, straight from the mouth of experts, then turn around and use those rewards to stick it to the man.
What you might have missed last week.
Death of a charge card: Those pesky millennials are at it again. They’ve already killed Applebee’s, diamonds and televised sports. Is nothing sacred anymore?! Well, apparently not, because their insatiable thirst for rewards may now be killing the charge card.
You scream, I scream, we scream for plain vanilla cards: Forgo the miles. When will you ever use a free flight to Nebraska at 5:32 a.m.? Stop charging up that card just to get a free iPod mini. Sometimes, a plain credit card is just the trick. While you’re at it, skip paying to monitor your credit. Except for you, Mary Smith. You really, desperately, need it.
Billion (and billions and billions)-dollar baby: The most expensive (and petty, number 10; c’mon man) player in soccer was traded for a world-record breaking fee last week, and all I could think about was how they really missed out on some primo rewards.
Tangled in the web
Here are things from around the internet that the CreditCards.com staff are reading.
You know a story about fishing for a debit card in between cushion seats won’t end well when “It all started with a trip to Taco Bell” is the first line. -New York Magazine
Your credit card company is freaking out because your bill is late. -Wall Street Journal
Alexa can’t loan you $50 – yet. -American Banker
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