Hutchins Roundup: Gig economy jobs, credit card competition, and more

The Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009 limited companies’ abilities to raise interest rates on outstanding balances on consumer credit cards, potentially reducing the incentive for companies to compete by lowering rates. Geng Li of the Federal Reserve Board and Yiwei Dou and Joshua Ronen of New York University find that, following passage of the CARD Act, competition declined significantly in the market for consumer credit cards relative to the market for small business credit cards, which were not subject to the Act. They show that…

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Best Airport Lounge Access: The Platinum Card from American Express

While lounge access is one of the biggest attractions of The Platinum Card® from American Express, other perks that ease the hassle of traveling also makes it worth the $550 annual fee.Some of our favorites include:A yearly $200 airline credit to cover fees, including checked bags and in-flight refreshments.Up to $200 yearly in Uber credit.Gold status with the Marriott Bonvoy™ and Hilton Honors loyalty programs.Special benefits after enrolling in Avis® Preferred Club, Hertz Gold Plus Rewards and National Emerald Club Executive loyalty programs.Free Wi-Fi access at Boingo hotspots worldwide.Access to…

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5 Options for When a Balance Transfer Credit Limit Isn’t Enough

When you should consider a balance transfer cardAccording to CompareCards’ 2018 Balance Transfer Credit Card Report, among the 41 percent of Americans who say they’ve used a balance transfer card in the past, four in 10 admit that they failed to pay off the balance during the introductory period.That’s why before you open a balance transfer card, the true test is to figure out if you can pay your debt before the interest kicks back in, says Mike Sullivan, a personal financial consultant with Take Charge America, a national nonprofit…

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