For many Americans, the prospect of retiring in the Golden State is nothing more than a pipe dream. California boasts an unbeatable quality of life, but it’s also one of the most expensive places to live in the U.S. With the third highest cost of living and the eleventh highest tax burden in the nation, the state appropriately ranked No. 34 in affordability on WalletHub’s “Best & Worst States to Retire” study.
It’s easy to see why California might seem out of reach to retirees living on a fixed monthly income. But a closer look at individual cities in the Golden State proves there are exceptions.
The American narrative is a story of diversity. Our history tells of many different peoples coming together from every walk of life to form what is today a complex tapestry of backgrounds.
And our story will continue to advance that narrative in the decades to come. The U.S. Census Bureau predicts that by 2044 the U.S. will no longer have a single ethnic majority, currently non-Hispanic whites, and will grow increasingly more diverse in the years to follow.
Everyone likes to have fun. But we all prefer our personal brand of a good time. Some people like trying new restaurants, traveling, going to bars and clubs or playing outdoor sports. Others enjoy riding roller coasters, going to the movies, or playing video games. But having fun can be expensive – the Bureau of Labor Statistics reports that the average American spends nearly $3,000 on entertainment per year.
With such different preferences, what, then, makes a fun city? At WalletHub, we define such a place as one that packs a little bit of everything for everyone — except maybe people seeking the most extreme of thrills. In a city with enough variety, you won’t have to compromise with your friends, your family or even yourself about the next fun activity to do alone or together.
The following represents historical data on credit card interest rates in the United States. These rates are presented as functions of credit card delinquency, national unemployment and credit card charge-offs. The margin reflects the differential above the Prime Rate.
Credit card interest rates are quite revealing, as they speak to changes in the economic environment, allow for historical comparison, and enable consumers to determine if they are getting a good deal on their credit card. Furthermore, they can be used to unearth seasonal trends in credit card offers and therefore time applications more fortuitously.
You can’t get an accurate sense of the consumer debt situation without considering credit card delinquency and charge-off rates. These metrics speak to the sustainability of consumer spending habits, indicating the ability of credit card users to stay current on their bills. For example, high delinquency rates may foreshadow a rash of defaults as well as the potential for a downturn in the economy, while a downward trend in default rates could indicate economic or habitual improvement.
Furthermore, consumers continue to owe charged-off debt for years, which means ignoring such sums will paint a misleading picture of the debt landscape.
Americans have much to thank the Germans for: BMW, bratwursts and hard syllables for letting off steam, for instance. Another of the Germans’ most famous contributions to our society is Oktoberfest, a weeks-long festival with beer as one of its centerpieces.
Oktoberfest often lasts from mid-September to the first Sunday in October. It originated in early 19th century Munich. It was only a matter of time before the Oktoberfest madness would find its way to U.S. soil, where nearly 45 million German-Americans make up the largest single ethnic group. A typical Oktoberfest in the U.S. includes many varieties of beer, live music, folk dancing, German fare and elaborate parades. Some American cities have even added their own traditions, like the “Running of the Wieners” race in Cincinnati or “Keg Bowling” in Denver.
After a string of nine interest-rate increases that took the Federal Reserve’s target rate from near zero in December 2015 up to a range of 2.25% - 2.5%, the Fed is poised to reduce rates for the second time since the Great Recession. Exactly what impact such a move will have on consumers’ wallets and the economy more broadly remains to be seen. But the hope is that lower rates will prolong what is already the longest economic expansion on record. At the very least, we can expect people with credit card debt to save hundreds of millions of dollars on interest.
To help shed some light on what we can expect from interest rates in the near future and how Americans feel about the prospect of a Fed rate cut, WalletHub conducted a nationally representative survey and assembled some relevant research. You can find the results below.
Credit card debt statistics speak to the financial health of American households. They can also foreshadow over-borrowing bubbles, changes to lending standards, and other trends with the potential to impact our wallets.
Americans began 2019 owing more than $1 trillion in credit card debt. Although the forecast initially appeared brighter, thanks to consumers repaying $38.2 billion in credit card debt during Q1 2019, poor second-quarter results nearly erased that effort. U.S. consumers added $35.6 billion in new credit card debt during the second quarter of 2019 – the largest second-quarter build-up ever. As a result, WalletHub now projects a $70 billion net increase in consumer credit card debt for 2019 overall.
Public transportation may be a simple convenience or an absolute daily necessity, depending on the city and the size of its population. The scope of public transportation in giant metropolises like New York City can be massive. According to the MTA, the New York City subway has over 665 mainland track miles and transports over 1.75 billion passengers per year. That’s not to mention the city’s 5,700 buses that carry over 760 million passengers per year.
There are many benefits to using public transportation over personal vehicles. The first is economic growth. According to the American Public Transportation Association, “every $1 invested in public transportation generates $4 in economic returns.” In addition, the APTA states that taking public transportation is cheaper in the long run than buying a vehicle and paying for its upkeep and gas costs. Public transportation also has drastically lower odds of an accident than driving a personal vehicle and helps to cut down pollution from emissions.
Personal Injury Protection (PIP) insurance covers medical expenses when a car accident results in injuries to you, other drivers listed on your policy, members of your household and your passengers. These expenses can include medical bills as well as some other expenses that are not typically covered by health insurance such as lost wages.
Happiness comes from a combination of internal and external factors. We can influence it somewhat by approaching situations positively or choosing to spend time with people we love, doing activities we enjoy.
One thing that doesn’t drive happiness is money. Happiness only increases with wealth up to an annual income of $75,000 to $95,000. But one thing that can have a big influence on how we feel about life is where we choose to live.
The credit card market is highly competitive, ever-evolving, and top-heavy. As such, the hierarchy of companies in this space is very revealing. Issuer market share, and changes therein, indicate trends in financial brand recognition, consumer preference, and competitive dynamics. Such statistics also provide useful context to investors as they approach the banking sector.
Below you will find historical market share information for general-consumer credit cards, store credit cards, and business credit, expressed in terms of both purchase volume and outstanding balances.
Colorado is known for recreation: hiking, skiing and camping, to name a few. But as any native of the Centennial State will tell you, Colorado is much more diverse than it seems. And it’s all that diversity that makes Colorado an ideal place to raise children.
Filled with mountains, plains, valleys and deserts, Colorado boasts a much wider array of outdoor activities than most states. This abundance of natural beauty and fun has led to healthy living in the state: Coloradans are the least obese and most active people in the U.S.
After putting in decades of hard work, we naturally expect to have financial security in our golden years. But not all Americans can look forward to a relaxing retirement. According to the Employee Benefit Research Institute’s 2019 Retirement Confidence Survey, two in three workers reported feeling at least somewhat confident that they will have enough money to retire comfortably, but only 23 percent said they were “very confident.”
If so many American workers are worried about their financial future, what other options provide a pathway to a comfortable retirement? For some, the only solution is to keep working. According to Gallup polling, workers in 2019 plan to retire at age 65 on average, compared to age 60 in 1995. The alternative? Relocate to an area where you can stretch your dollar without sacrificing your lifestyle.
The Verdict: The Bank of America® Cash Rewards credit card is an attractive everyday spending vehicle for people with excellent credit (Bank of America is a WalletHub partner). Things begin on a positive note, with no annual fee to worry about and the ability to earn a $200 initial bonus for spending just $1,000 in the first 90 days after account opening.
The Bank of America® Cash Rewards credit card even supplements its base 1% cash-back earning rate with 2% back on groceries and wholesale clubs and 3% back on a category of your choosing. But there’s a catch. Those bonus earning rates apply to only the first $2,500 in combined grocery, wholesale clubs and gas purchases each quarter. So if you spend more than $833 a month on such everyday necessities, you will wind up hitting that limit and earning only 1% back — slightly less than the market average of 1.06% — on all your purchases for the rest of the quarter.
The Verdict: The BankAmericard® credit card is a very good tool for avoiding interest on credit card debt, whether you’re planning a big purchase or need a way to reduce the cost of an existing balance (Bank of America is a WalletHub partner). The stars of the show are BankAmericard’s $0 annual fee and its 0% introductory APRs, which apply to purchases and balance transfers for the first 18 billing cycles. If you transfer a balance, you just have to do so within 60 days of opening an account to get that rate.
Those features compare favorably to most competing offers. The average 0% purchase APR lasts for about 10.7 months. And the average 0% balance transfer deal gives you about 12 months. But that is not to say BankAmericard’s financing offer is flawless. The most important imperfection for folks with expensive debt is the card’s 3% balance transfer fee. Not only is that above average for a balance transfer credit card, but it’s also a distinguishing factor between the BankAmericard credit card and its biggest competitors.
Most Americans rely on cars to get around. According to the Bureau of Transportation Statistics, “87 percent of daily trips take place in personal vehicles.” And even with growing access to public transportation in U.S. cities, most people still choose to travel by car, mainly for reasons such as “comfort and reliability.”
In truth, however, driving is often a major hassle and expense. Drivers annually spend an average of more than 310 hours on the road. That’s nearly 13 days. Add the costs of wasted time and fuel due to traffic congestions, and our collective tab comes to about $124 billion annually, or $1,700 per household.
The Verdict: The Bank of America® Travel Rewards credit card is a very good option for people with excellent credit who want to reduce the cost of travel without paying an annual fee. But it’s only a truly great choice for fairly low-spending Bank of America banking customers with a lot of cash saved (Bank of America is a WalletHub partner).
The party starts with a 25,000-point initial rewards bonus, worth $250 in travel, when you spend $1,000 or more within 90 days of opening your account. That’s well above average for a card offering a points-based bonus. Still, if you’re someone who spends $1,000 per month, rather than every three months, you can get at least twice as much dollar value from competing offers.
The Verdict: The Bank of America® Premium Rewards® credit card is one of the best rewards cards for people with excellent credit who like to travel and dine out (Bank of America is one of our partners). In fact, it ranked 9th overall in WalletHub’s 2019 Credit Card Rewards Report for the net value that the average person can expect to earn in two years: $1,534.
The premium rewards start with an initial bonus of 50,000 points after you spend at least $3,000 within 90 days of opening your account. That’s worth $500. And the perks keep coming, with 2 points per $1 spent on travel and dining, plus 1.5 points per $1 on everything else. The average points card gives you just 1.16 per $1.
Complaints about high premiums and long claims processing times.
Must request a quote to get full coverage details.
Infinity Review Summary: Infinity auto insurance is an option for high-risk drivers who are looking for just enough coverage to drive legally. Despite its basic offerings, Infinity insurance doesn’t come cheap. Plenty of customers have complained about high premiums, and WalletHub’s research on car insurance prices backs up these complaints. Infinity ranks 27th among the 46 auto insurers studied. And that doesn’t even factor in potential costs associated with supplemental policy options such as roadside assistance or rental reimbursement.
Infinity prides itself on catering to the Spanish-speaking community by providing bilingual services and developing its presence in major cities with large Hispanic populations. The company was acquired by Kemper insurance in 2018, and Infinity auto policies are a part of the Kemper family of insurance products.
The following represents historical data on credit card interest rates in the United States. These rates are presented as functions of credit card delinquency, national unemployment and credit card charge-offs. The margin reflects the differential above the 
You can’t get an accurate sense of the consumer debt situation without considering credit card delinquency and charge-off rates. These metrics speak to the sustainability of consumer spending habits, indicating the ability of credit card users to stay current on their bills. For example, high delinquency rates may foreshadow a rash of defaults as well as the potential for a downturn in the economy, while a downward trend in default rates could indicate economic or habitual improvement.
Credit card debt statistics speak to the financial health of American households. They can also foreshadow over-borrowing bubbles, changes to lending standards, and other trends with the potential to impact our wallets.
The credit card market is highly competitive, ever-evolving, and top-heavy. As such, the hierarchy of companies in this space is very revealing. Issuer market share, and changes therein, indicate trends in financial brand recognition, consumer preference, and competitive dynamics. Such statistics also provide useful context to investors as they approach the banking sector.
