Latest news with #Wallethub
Yahoo
4 days ago
- General
- Yahoo
Utah spends the 3rd lowest amount of income on childcare in nation: Wallethub
SALT LAKE CITY () — Utah's parents spend some of the smallest amount of their incomes on childcare in the country, according to . Wallethub looked at median incomes for married couples and single parents in each state and compared it to the costs of family-based childcare (care based in a private home) and the costs of center-based childcare (care in a more traditional daycare center). Nationwide, married couples can spend up to 13% of their income on childcare, and single parents can spend up to 51% of their income on childcare. 'Childcare has become less affordable over time,' said Lori Latrice Martin, PhD, Professor and Associate Dean at Louisiana State University. 'Childcare costs may exceed what some families pay in rent. The causes for the increase in childcare include the lingering effects of the COVID-19 pandemic, operational costs, limited public funding, and declines in available childcare options.' Compared to those national averages, childcare in Utah is cheap. In Utah, married couples spend 6.5% of their income on family-based childcare and 7.97% of their income on center-based childcare. For married couples, Utah ranks at 48 on the list, or the 4th smallest amount spent on childcare. Single parents in Utah rank even better than married couples, at the second lowest amount of their income spent on childcare in the country, or number 50 on the list. However, single parents spend a much greater percentage of their income on childcare than married couples, since there is only one income. Single parents in Utah spend 17.25% on family-based childcare and 21.15% on center-based childcare. Across married couples and single parents, Utah ranks third for the least amount of money spent on childcare. New York state has the highest cost of childcare for married couples in the nation, followed by New Mexico and Washington state. New Mexico's high childcare cost is mainly because the incomes in the state are so low, according to the report. In New York and Washington state, incomes are high, but comparatively, costs are higher too. Here are the states where childcare is the most expensive for married couples: New York New Mexico Washington Oregon Vermont Here are the states where childcare is the least expensive for married couples: South Dakota South Carolina Mississippi Utah North Dakota Interestingly, childcare for single parents in the District of Columbia (Washington D.C.) is the most expensive in the country, but for married couples, it ranks at number 29 on the list. Here are the states where childcare is the most expensive for single parents: District of Columbia (Washington D.C.) New York Massachusetts Vermont Rhode Island And here are the states where childcare is the least expensive for single parents: South Dakota Utah Alaska Idaho South Carolina You can see the rest of the rankings and read about the methodology of the study . Latest headlines: Republicans eye efforts to quiet Epstein uproar but can't quash it Utah spends the 3rd lowest amount of income on childcare in nation: Wallethub Utah's air tanker bases have already used 1.2 million gallons of retardant fighting wildfires One dead after Orem house fire Friday morning Officials warn of potential flash floods in burn scars and Zion National Park Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Solve the daily Crossword
Hindustan Times
20-05-2025
- Business
- Hindustan Times
Which is the best US city to start a career? It's not New York City or San Francisco
With graduation season in full swing in the US, a list by WalletHub about the "Best & Worst Places to Start a Career" in the US has surprised the internet. It claims that the title goes to Atlanta, Georgia. The list ranked 182 cities using several parameters, such as job growth, affordable housing, average commute, starting salary, and more, to find where each American city stands. The survey says, "Atlanta is the best place to start a career, boasting one of the highest growth rates in the median household income, at around 8.2% annually. The median annual household income in Atlanta is already pretty high as well, at nearly $85,400.' It further claims this city is perfect for those looking forward to starting their business. The survey added that on Glassdoor, an anonymous review website of workplaces, most companies based in Atlanta are rated 4 out of 5, with a high satisfaction rate. Orlando in Florida bagged the title of the second-best city for starting a career, and the third-best city is Tampa, also in Florida. Pearl City in Hawaii is at the bottom of the list. New York ranked 179th among the 182 cities. As for San Francisco, this California city claimed the 51st position on the list. 'Transitioning out of school and into the workforce can be a difficult and stressful process, but certain cities make things a lot easier than others. The best cities for starting a career not only have a lot of job opportunities but also provide substantial income growth potential and satisfying work conditions,' Wallethub analyst Chip Lupo said. 'It's also important to consider factors such as how fun a city is to live in or how good of a place it is for raising a family, to ensure life satisfaction outside of your career,' Lupo added.
Yahoo
15-05-2025
- Business
- Yahoo
Are rewards credit cards worth it with surcharges, transaction fees? We explain.
Heather Bernhardt is a small business owner. But she has a rant as a business owner and a customer. She can't stand the growing practice of businesses charging consumers a surcharge to use their credit card. "Let me tell you, if you own a small store, you own a store, whatever, restaurant, and you charge me a surcharge for using a credit card, I'm not coming back," Bernhardt said in a Tiktok post. "Eat it. It's good customer service." Bernhardt's ire about credit card surcharges is not unique. In two separate national surveys of consumers, shoppers have said they are sick of being nickel-and-dimed to pay a surcharge that used to be a cost of doing business. The practice of charging consumers a surcharge on transactions is allowed based on a 2012 settlement between credit card networks and a group of U.S. merchants, according to an article by Wallethub. The surcharges, can range from 1.5% to 3%. The practice of passing along credit card transaction fees to consumers by adding a surcharge to their bill began showing up during the COVID-19 pandemic, when more consumers were moving to e-commerce and in-person businesses and restaurants were dealing with higher costs, said John Kiernan, WalletHub editor. However, the 2012 settlement only covered credit card transactions and not debit cards or pre-paid gift cards. Visa and Mastercard rules prohibit transaction fees for debit card transactions, but enforcement is pretty lax since that is not widely known, especially among smaller businesses and consumers, Kiernan told USA TODAY. For credit card transaction fees, the consumer is supposed to be notified in some manner before the transaction takes place. If not, the consumer can file a dispute with the credit card issuer, Kiernan said. Additionally, some states, such as Connecticut, Maine and Massachusetts, have state laws that prohibit credit card surcharges for consumers, Kiernan said. The credit card surcharge fee usage is widespread in practice and also causes widespread annoyance. In a recent study by WalletHub, 87% of people said "they are being nickel-and-dimed when they are asked to pay an extra fee for credit card payment processing." More than 4 in 5 Americans said they were charged a fee for paying with a credit card and 2 in 3 consumers said they would not use their credit card if they were charged a fee. More than 3 in 5 people also said they thought it was unfair for merchants to pass their payment processing fees on to their customers. Kiernan said the practice of adding the surcharge for credit card payments – or offering a discount for cash, which is common at many gas stations – has been growing in recent years. "I think businesses and consumers for that matter, are always going to kind of push the boundaries and try to test the waters to see what they can get away with," said Kiernan. Once businesses started seeing that other companies were charging the surcharge without much backlash, they started doing it, too, he said. In a J.D. Power 2025 U.S. Merchant Services Satisfaction Study released in January, 34% of merchants said they were adding surcharges for customer purchases made using credit cards. In the latest data from the JD Power US Credit Card Satisfaction Study, 82% of shoppers who said they faced a surcharge for using credit cards chose an alternative method of payment. John Cabell, managing director for payments intelligence said the survey did not ask whether any of those customers walked away from the transaction. Consumers don't like such add-ons, said Ted Rossman, Bankrate senior industry analyst. "A surcharge is kind of a way to raise prices without raising prices," Rossman told USA TODAY. While they may be legal, "in the court of public people would frown upon any sort of add-on." Consumers may complain to management, or on social media, which "is actually even worse because they're telling all their friends about this bad experience," he said. Most shoppers aren't carrying cash and they are fighting both inflation and other rising costs, Rossman said. Businesses are also facing similar headwinds. "People feel like everything costs enough already, so businesses are looking to shift some of the cost burden onto the customer," he said. Many customers are stuck paying the surcharge since they aren't carrying cash or don't have a debit card, said Rossman. But some customers are pushing back. Rossman said he doesn't understand the philosophy of businesses adding surcharges since it angers customers and probably loses sales. "We're not going back to a cash-first economy," said Rossman, adding that such extra fees are "a deterrent to sales." Is cash king?: Are we moving toward a cashless, checkless society? Bernhardt owns Blackbird Boutique in Marine City, Michigan. She sells women's clothing, gift items and small home decor pieces. Bernhardt said it's hard enough to compete as a small business owner and she wants to please her customers. She doesn't tack on a credit card surcharge. But she was mad enough recently after visiting another store that charged her to use her debit card – she didn't know it wasn't allowed until a reporter notified her – that she put her rant on TikTok. In her video, Bernhardt said businesses should either eat the cost or "bake it in" to the price of the goods, which she doesn't do. Such surcharges are bad for business, she said. "You've probably lost a customer and you're not getting that returning customer and future sales," she said. If more consumers are having to pay surcharges, is it worth using a credit card to earn cash-back rewards or other perks? Rossman said consumers should weigh how much they're paying in a surcharge versus what they're earning in rewards. Consumers should also pay their credit card bill each month to avoid paying extra interest fees, he said. But credit cards can also offer extra perks, such as extended warranties, purchase protection or travel insurance, so that is something to think about as well, said Rossman. Consumers can also get ahead by picking the right credit card, said Kiernan. "Set yourself up to ignore a lot of this if you have the right card or right collection of cards," he said. "There are a number of cards that give you 5% cash back in custom categories and you can pick two categories a quarter; the categories you spend the most in." Use those cards for your common purchases, then "even if you get charged the surcharge, you're still coming out ahead," he said. You won't come out ahead in all transactions since the surcharge may be more than what you are earning in rewards, he said. But there are credit cards that also give you initial points or cash-back bonuses, he said. "If you're making a bunch of small purchases, even if they have a small surcharge added on, if you're saving $1,000 at the end of the day, it's still coming out way ahead," he said. Some consumers will use multiple cards, or debit cards or store credit cards, which may offer better rewards or incentives, Kiernan said. Some consumers may also opt to do automatic payments via their bank account or link their checking account to a retailer or business account to get a discount, he said. Kiernan suggests having a credit card with good rewards and then having a debit card on hand for the times when a retailer wants to charge a surcharge for the credit card. But remember, he cautions, that debit card transactions come right out of the checking account and the fraud protections on debit cards are not as strong as credit cards. Betty Lin-Fisher is a consumer reporter for USA TODAY. Reach her at blinfisher@ or follow her on X, Facebook or Instagram @blinfisher and @ on Bluesky. Sign up for our free The Daily Money newsletter, which will include consumer news on Fridays, here. This article originally appeared on USA TODAY: Are rewards credit cards worth it with surcharges? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
Are rewards credit cards worth it with surcharges, transaction fees? We explain.
Heather Bernhardt is a small business owner. But she has a rant as a business owner and a customer. She can't stand the growing practice of businesses charging consumers a surcharge to use their credit card. "Let me tell you, if you own a small store, you own a store, whatever, restaurant, and you charge me a surcharge for using a credit card, I'm not coming back," Bernhardt said in a Tiktok post. "Eat it. It's good customer service." Bernhardt's ire about credit card surcharges is not unique. In two separate national surveys of consumers, shoppers have said they are sick of being nickel-and-dimed to pay a surcharge that used to be a cost of doing business. The practice of charging consumers a surcharge on transactions is allowed based on a 2012 settlement between credit card networks and a group of U.S. merchants, according to an article by Wallethub. The surcharges, can range from 1.5% to 3%. The practice of passing along credit card transaction fees to consumers by adding a surcharge to their bill began showing up during the COVID-19 pandemic, when more consumers were moving to e-commerce and in-person businesses and restaurants were dealing with higher costs, said John Kiernan, WalletHub editor. However, the 2012 settlement only covered credit card transactions and not debit cards or pre-paid gift cards. Visa and Mastercard rules prohibit transaction fees for debit card transactions, but enforcement is pretty lax since that is not widely known, especially among smaller businesses and consumers, Kiernan told USA TODAY. For credit card transaction fees, the consumer is supposed to be notified in some manner before the transaction takes place. If not, the consumer can file a dispute with the credit card issuer, Kiernan said. Additionally, some states, such as Connecticut, Maine and Massachusetts, have state laws that prohibit credit card surcharges for consumers, Kiernan said. The credit card surcharge fee usage is widespread in practice and also causes widespread annoyance. In a recent study by WalletHub, 87% of people said "they are being nickel-and-dimed when they are asked to pay an extra fee for credit card payment processing." More than 4 in 5 Americans said they were charged a fee for paying with a credit card and 2 in 3 consumers said they would not use their credit card if they were charged a fee. More than 3 in 5 people also said they thought it was unfair for merchants to pass their payment processing fees on to their customers. Kiernan said the practice of adding the surcharge for credit card payments – or offering a discount for cash, which is common at many gas stations – has been growing in recent years. "I think businesses and consumers for that matter, are always going to kind of push the boundaries and try to test the waters to see what they can get away with," said Kiernan. Once businesses started seeing that other companies were charging the surcharge without much backlash, they started doing it, too, he said. In a J.D. Power 2025 U.S. Merchant Services Satisfaction Study released in January, 34% of merchants said they were adding surcharges for customer purchases made using credit cards. In the latest data from the JD Power US Credit Card Satisfaction Study, 82% of shoppers who said they faced a surcharge for using credit cards chose an alternative method of payment. John Cabell, managing director for payments intelligence said the survey did not ask whether any of those customers walked away from the transaction. Consumers don't like such add-ons, said Ted Rossman, Bankrate senior industry analyst. "A surcharge is kind of a way to raise prices without raising prices," Rossman told USA TODAY. While they may be legal, "in the court of public people would frown upon any sort of add-on." Consumers may complain to management, or on social media, which "is actually even worse because they're telling all their friends about this bad experience," he said. Most shoppers aren't carrying cash and they are fighting both inflation and other rising costs, Rossman said. Businesses are also facing similar headwinds. "People feel like everything costs enough already, so businesses are looking to shift some of the cost burden onto the customer," he said. Many customers are stuck paying the surcharge since they aren't carrying cash or don't have a debit card, said Rossman. But some customers are pushing back. Rossman said he doesn't understand the philosophy of businesses adding surcharges since it angers customers and probably loses sales. "We're not going back to a cash-first economy," said Rossman, adding that such extra fees are "a deterrent to sales." Is cash king?: Are we moving toward a cashless, checkless society? Bernhardt owns Blackbird Boutique in Marine City, Michigan. She sells women's clothing, gift items and small home decor pieces. Bernhardt said it's hard enough to compete as a small business owner and she wants to please her customers. She doesn't tack on a credit card surcharge. But she was mad enough recently after visiting another store that charged her to use her debit card – she didn't know it wasn't allowed until a reporter notified her – that she put her rant on TikTok. In her video, Bernhardt said businesses should either eat the cost or "bake it in" to the price of the goods, which she doesn't do. Such surcharges are bad for business, she said. "You've probably lost a customer and you're not getting that returning customer and future sales," she said. If more consumers are having to pay surcharges, is it worth using a credit card to earn cash-back rewards or other perks? Rossman said consumers should weigh how much they're paying in a surcharge versus what they're earning in rewards. Consumers should also pay their credit card bill each month to avoid paying extra interest fees, he said. But credit cards can also offer extra perks, such as extended warranties, purchase protection or travel insurance, so that is something to think about as well, said Rossman. Consumers can also get ahead by picking the right credit card, said Kiernan. "Set yourself up to ignore a lot of this if you have the right card or right collection of cards," he said. "There are a number of cards that give you 5% cash back in custom categories and you can pick two categories a quarter; the categories you spend the most in." Use those cards for your common purchases, then "even if you get charged the surcharge, you're still coming out ahead," he said. You won't come out ahead in all transactions since the surcharge may be more than what you are earning in rewards, he said. But there are credit cards that also give you initial points or cash-back bonuses, he said. "If you're making a bunch of small purchases, even if they have a small surcharge added on, if you're saving $1,000 at the end of the day, it's still coming out way ahead," he said. Some consumers will use multiple cards, or debit cards or store credit cards, which may offer better rewards or incentives, Kiernan said. Some consumers may also opt to do automatic payments via their bank account or link their checking account to a retailer or business account to get a discount, he said. Kiernan suggests having a credit card with good rewards and then having a debit card on hand for the times when a retailer wants to charge a surcharge for the credit card. But remember, he cautions, that debit card transactions come right out of the checking account and the fraud protections on debit cards are not as strong as credit cards. Betty Lin-Fisher is a consumer reporter for USA TODAY. Reach her at blinfisher@ or follow her on X, Facebook or Instagram @blinfisher and @ on Bluesky. Sign up for our free The Daily Money newsletter, which will include consumer news on Fridays, here. This article originally appeared on USA TODAY: Are rewards credit cards worth it with surcharges? Sign in to access your portfolio
USA Today
15-05-2025
- Business
- USA Today
Are rewards credit cards worth it with surcharges, transaction fees? We explain.
Are rewards credit cards worth it with surcharges, transaction fees? We explain. Show Caption Hide Caption How to use credit card reward points effectively Here are different ways to use your credit card to make the most of it. ProblemSolved, USA TODAY Heather Bernhardt is a small business owner. But she has a rant as a business owner and a customer. She can't stand the growing practice of businesses charging consumers a surcharge to use their credit card. "Let me tell you, if you own a small store, you own a store, whatever, restaurant, and you charge me a surcharge for using a credit card, I'm not coming back," Bernhardt said in a Tiktok post. "Eat it. It's good customer service." Bernhardt's ire about credit card surcharges is not unique. In two separate national surveys of consumers, shoppers have said they are sick of being nickel-and-dimed to pay a surcharge that used to be a cost of doing business. What is a credit card surcharge? The practice of charging consumers a surcharge on transactions is allowed based on a 2012 settlement between credit card networks and a group of U.S. merchants, according to an article by Wallethub. The surcharges, can range from 1.5% to 3%. The practice of passing along credit card transaction fees to consumers by adding a surcharge to their bill began showing up during the COVID-19 pandemic, when more consumers were moving to e-commerce and in-person businesses and restaurants were dealing with higher costs, said John Kiernan, WalletHub editor. However, the 2012 settlement only covered credit card transactions and not debit cards or pre-paid gift cards. Visa and Mastercard rules prohibit transaction fees for debit card transactions, but enforcement is pretty lax since that is not widely known, especially among smaller businesses and consumers, Kiernan told USA TODAY. For credit card transaction fees, the consumer is supposed to be notified in some manner before the transaction takes place. If not, the consumer can file a dispute with the credit card issuer, Kiernan said. Additionally, some states, such as Connecticut, Maine and Massachusetts, have state laws that prohibit credit card surcharges for consumers, Kiernan said. Customers don't like being nickel-and-dimed with surcharges The credit card surcharge fee usage is widespread in practice and also causes widespread annoyance. In a recent study by WalletHub, 87% of people said "they are being nickel-and-dimed when they are asked to pay an extra fee for credit card payment processing." More than 4 in 5 Americans said they were charged a fee for paying with a credit card and 2 in 3 consumers said they would not use their credit card if they were charged a fee. More than 3 in 5 people also said they thought it was unfair for merchants to pass their payment processing fees on to their customers. Kiernan said the practice of adding the surcharge for credit card payments – or offering a discount for cash, which is common at many gas stations – has been growing in recent years. "I think businesses and consumers for that matter, are always going to kind of push the boundaries and try to test the waters to see what they can get away with," said Kiernan. Once businesses started seeing that other companies were charging the surcharge without much backlash, they started doing it, too, he said. In a J.D. Power 2025 U.S. Merchant Services Satisfaction Study released in January, 34% of merchants said they were adding surcharges for customer purchases made using credit cards. In the latest data from the JD Power US Credit Card Satisfaction Study, 82% of shoppers who said they faced a surcharge for using credit cards chose an alternative method of payment. John Cabell, managing director for payments intelligence said the survey did not ask whether any of those customers walked away from the transaction. Consumers anger at the surcharges Consumers don't like such add-ons, said Ted Rossman, Bankrate senior industry analyst. "A surcharge is kind of a way to raise prices without raising prices," Rossman told USA TODAY. While they may be legal, "in the court of public people would frown upon any sort of add-on." Consumers may complain to management, or on social media, which "is actually even worse because they're telling all their friends about this bad experience," he said. Most shoppers aren't carrying cash and they are fighting both inflation and other rising costs, Rossman said. Businesses are also facing similar headwinds. "People feel like everything costs enough already, so businesses are looking to shift some of the cost burden onto the customer," he said. Many customers are stuck paying the surcharge since they aren't carrying cash or don't have a debit card, said Rossman. But some customers are pushing back. Rossman said he doesn't understand the philosophy of businesses adding surcharges since it angers customers and probably loses sales. "We're not going back to a cash-first economy," said Rossman, adding that such extra fees are "a deterrent to sales." Is cash king?: Are we moving toward a cashless, checkless society? Bernhardt owns Blackbird Boutique in Marine City, Michigan. She sells women's clothing, gift items and small home decor pieces. Bernhardt said it's hard enough to compete as a small business owner and she wants to please her customers. She doesn't tack on a credit card surcharge. But she was mad enough recently after visiting another store that charged her to use her debit card – she didn't know it wasn't allowed until a reporter notified her – that she put her rant on TikTok. In her video, Bernhardt said businesses should either eat the cost or "bake it in" to the price of the goods, which she doesn't do. Such surcharges are bad for business, she said. "You've probably lost a customer and you're not getting that returning customer and future sales," she said. Is a cash rewards or rewards credit card worth it with surcharges? If more consumers are having to pay surcharges, is it worth using a credit card to earn cash-back rewards or other perks? Rossman said consumers should weigh how much they're paying in a surcharge versus what they're earning in rewards. Consumers should also pay their credit card bill each month to avoid paying extra interest fees, he said. But credit cards can also offer extra perks, such as extended warranties, purchase protection or travel insurance, so that is something to think about as well, said Rossman. Consumers can also get ahead by picking the right credit card, said Kiernan. "Set yourself up to ignore a lot of this if you have the right card or right collection of cards," he said. "There are a number of cards that give you 5% cash back in custom categories and you can pick two categories a quarter; the categories you spend the most in." Use those cards for your common purchases, then "even if you get charged the surcharge, you're still coming out ahead," he said. You won't come out ahead in all transactions since the surcharge may be more than what you are earning in rewards, he said. But there are credit cards that also give you initial points or cash-back bonuses, he said. "If you're making a bunch of small purchases, even if they have a small surcharge added on, if you're saving $1,000 at the end of the day, it's still coming out way ahead," he said. Some consumers will use multiple cards, or debit cards or store credit cards, which may offer better rewards or incentives, Kiernan said. Some consumers may also opt to do automatic payments via their bank account or link their checking account to a retailer or business account to get a discount, he said. Kiernan suggests having a credit card with good rewards and then having a debit card on hand for the times when a retailer wants to charge a surcharge for the credit card. But remember, he cautions, that debit card transactions come right out of the checking account and the fraud protections on debit cards are not as strong as credit cards. Betty Lin-Fisher is a consumer reporter for USA TODAY. Reach her at blinfisher@ or follow her on X, Facebook or Instagram @blinfisher and @ on Bluesky. Sign up for our free The Daily Money newsletter, which will include consumer news on Fridays, here.
