Jim Cramer's favorite announcement from Apple this week was the Apple credit card. Here's why.
DepositAccounts.com, which tracks the savings industry, says in a new report that banks are increasing early withdrawal penalties on certificates of deposit, making it harder for savers to exit and reinvest in higher-paying products as interest rates rise.
The digital version of Apple's new credit card with Goldman Sachs and Mastercard will give customers 2% cash back on all purchases made using Apple Pay technology. That could be a tough offer to resist, since the average cash-rewards card pays roughly 1%.
Kohl's is well positioned to meet both the needs of the debt-strapped consumer and the desire of investors for attractive dividend yields.
The Federal Reserve, led by Chairman Jerome Powell, said it will hold interest rates steady in their current range from 2.25% to 2.5%, while waiting for signs that the economy is stabilizing.
It's easier and simpler to determine the full cost of a loan when using simple interest instead of compound interest.
Knowing who the three major credit bureaus are, and how they work, can make you a stronger financial consumer.