Anna Maria Andriotis

speaker

3,396 appearances 52 recordings 1 series first heard Jul 2017 last heard Dec 2022

Anna Maria Andriotis’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Credit-Card Lenders Resume Courting Subprime Consumers · 11 Jan 2022 podcast

And the lower your credit score is when you apply for the credit card, the higher your interest rate is likely to be. matched

So depending on the balance that the person is carrying from month to month, that can be $20, $40 in monthly interest charges, or it can be more than that. matched

So that's something also that adds up over time for people who don't only carry a balance from, let's say, one month to the next, but carry balances for months or years on end. matched

So essentially what consumers will have to consider are the costs of signing up and using these credit cards if they're not able to pay that bill in full. matched

There are benefits and disadvantages to getting a credit card in general for your credit score, as well as when you are a consumer with low credit score. matched

So on the negative side of things, for people who are going to be carrying balances from one month to the next, matched

if those balances come close to their total spending limit on that credit card, that can negatively impact their credit score. matched

Their credit score can fall as a result of that. matched

On the other hand, though, consumers who get more access to credit and use that credit, pay their bills in full every month, pay on time every month, well, they could certainly move from being people who are categorized as being subprime to people who have higher credit scores. matched

And as a result, matched

are able to get other forms of credit at lower interest rates and with better overall terms. matched

So a lot of what's happening right now with regards to the question of, well, banks are making it easier for subprime consumers to get approved for credit cards. matched

Is that a good thing or not? matched

A good amount of that depends on how the consumer manages the cards that they get, whether they're able to pay their bills in full and on time every month or not. matched

WSJ Your Money Briefing · Using 'Buy Now, Pay Later' Will Soon Be on Your Credit Report · 23 Dec 2021 podcast

So the question with these companies is, will that frequent use or other elements of how our plans are set up potentially result in people who are being financially responsible and paying their bills with us on time having a negative impact on their credit score? matched

Great to be speaking with you. matched

These plans are available at merchants' checkout, often online, sometimes in stores. matched

And essentially, they allow people to pay for the items that they're buying over time as opposed to paying for them in one shot. matched

These plans are meant to resonate with people who don't have much in savings, don't have credit cards because they can't qualify for them, or have credit cards but don't want to use credit cards. matched

And it's pitched to them as basically a way to make something that seems out of reach for them to buy more within reach to make it seem affordable. matched

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