Latest news with #Wallethub
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.
Yahoo
26-03-2025
- Business
- Yahoo
Grocery prices have plateaued overall, but the cost of these items is still rising in Wisconsin
Nationwide grocery prices have skyrocketed since the COVID-19 pandemic and are expected to keep rising as diseases like bird flu wipe through parts of the industry. Food prices across the country, including in the Midwest, continue to spike in a few categories, according to a report from the Bureau of Labor Statistics consumer price index, although some foods such as bakery products have seen a dip in prices in the past few months. The U.S. Department of Agriculture released a report last month predicting that egg prices will increase by 41.1% this year. Egg prices continue to face volatile changes due to an outbreak of bird flu that started in 2022. The report said more than 18 million commercial egg layers were infected with bird flu in January 2025, which was the "highest monthly total since the outbreak began in 2022." As prices soar, Wisconsin residents are spending more on groceries compared to most other states, according a new study by Wallethub. Here's a look at which grocery items have increased the most in price since last year, plus how much Wisconsin consumers are spending on groceries. Nationwide, the overall food at home index — the general cost of groceries — rose 1.9% over the last year, according to the U.S. Department of Agriculture. Specifically, meats, poultry, fish and eggs saw the largest hike in price at nearly an 8% increase. The Bureau of Labor Statistics consumer price index did report that the cost of groceries was nearly flat between January and February 2025, as some price increases in certain foods were offset by a dip in others. In the Midwest, the average price of specific products has skyrocketed compared to 2024. The average price of eggs jumped by nearly 97%, and the cost of ground coffee increased by nearly 20%. Prices of some products did lower compared to the previous year, including bakery items, which decreased in price by about 11% from 2024. Wisconsinites must spend 2% of their monthly household income to buy common grocery items, WalletHub reported. As of 2023, the median household income Wisconsin was $75,670, according to data from the U.S. Census Bureau. That means Wisconsinites would spend $1531.40 annually, or about $126 monthly, to buy common grocery items at least once a month. In actuality, people likely grocery shop more than once a month, meaning this bill would be higher. RELATED: Which restaurants are charging more for eggs in Wisconsin? Here's a list USA TODAY contributed to this report. This article originally appeared on Milwaukee Journal Sentinel: Grocery prices climb in Wisconsin, Midwest for meat, eggs, coffee
