AnnaMaria Andriotis

speaker

201 appearances 3 recordings 1 series first heard Dec 2018 last heard Oct 2019

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

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WSJ Your Money Briefing · Interest Rates Are Falling. Why Aren't Credit Card Rates? · 15 Oct 2019 podcast

So in 2016 and 2017, more cardholders were not paying their credit card bills.

And so as loan losses increase, that eats into profits for banks, right?

So now over the last year or so, they've gotten those loan losses under control because they've tightened underwriting standards.

But

They're sort of sitting back and taking a look at the broader economy and saying, well, if there is going to be a recession or an economic downturn of sorts at some point in the coming years, that would increase the chances of us dealing with higher loan losses, which would therefore eat into our profits.

It's a cushion.

So essentially, this isn't just a way to make the rewards game play out well financially for the banks, but it's also a cushion against the possibility of rising loan losses in the future.

So there's definitely enough of a range where it's worthwhile shopping around, especially if you are a consumer with a high credit score, figure 720 or above on a scale that tops out at 850.

So a couple ways to do this would be the credit card offers that come in the mail, the solicitations.

Oftentimes there's this page which just sort of lays out the terms.

It's a pretty boring-looking black-and-white page.

It lays out the terms, including the APR.

And these sheets look very different from one lender to another.

And oftentimes what it'll show you is that your rate, it'll show you your rate will either be X, Y, or Z, depending on your credit.

Sometimes it'll show a specific rate because maybe they've already determined what your rate will be

when they were looking at your credit report before they sent you the solicitation.

So a good starting point is just take out the solicitations that come in your mailbox and put them all sort of side by side and look at that term sheet and what they're offering.

Essentially, yes.

Thank you.

WSJ Your Money Briefing · Artificial Intelligence: Boosting Your Odds for Getting a Loan? · 5 Mar 2019 podcast

What this will do is improve the odds for some people and lessen the odds for others.

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