Best financial advisors in 2024, Ignore this Zelle cousin

April 22, 2024 | Read Online

Clark loves rewards credit cards but it comes with a warning. Find out more later on in this email.

💵 Today’s Top Stories

Best Financial Advisors in 2024

Team Clark recommends just two lists that you can check to find the best financial advisors. Here’s how to find the right one for you. Read more.

Why Clark Says You Should ‘Ignore’ Paze as Trendy New Payment Option

Banks are offering a new digital payment method called Paze. Clark may not hate it as much as Zelle, but he says you can turn your back when your bank pushes it toward you. Read more.

Are Municipal Bonds a Good Investment?

Bonds got beat up even when the stock market was struggling post-COVID. But they’re still important long-term, Clark explains. This type can give you a great tax benefit. Read more.

First-Hand Review of One of the Best Prepaid Plans on AT&T’s Network

We signed up for Cricket Wireless, with plans that begin as low as $30 a month. Here’s how it compares to other cheap cell phone plans. Read more.

💳️ Clark Warns Millions of Americans Against Using Rewards Credit Cards

Clark loves a good 2% cash-back rewards credit card.

Team Clark covers rewards credit cards year-round. And Clark prefers that you use credit cards to pay for almost everything considering the cash back as well as the consumer protections.

But there’s a major caveat to that. If you’re someone who runs a credit card balance, you need to ignore this category of credit cards. It’s a deceiving trap for you. (By the way, that represents about half of all Americans.)

Among those carrying credit card balances, about two-thirds are using rewards credit cards.

“Why is that something that I would be upset about? Because reward cards tend to carry the highest interest rates of any credit cards,” Clark says.

“[The rewards are] fool’s gold because of what you’re paying in interest every month for the card. Forget the rewards if you’re not paying balances.”

Instead, Clark says, get a credit card from a local credit union. You’re almost sure to save big on interest.

“If you’re paying twice the interest, you’re not getting anywhere [with rewards cards]. You’re going backwards,” Clark says. “Don’t make the bank rich.”

🏠️ Today’s Current Mortgage Rates

According to Freddie Mac, 30-year mortgage rates are 7.10% and 15-year rates are 6.39% as of April 18, 2024. The following chart shows the 30-year mortgage rate trend over the last year.

Refi Info | Mortgage Refi Calculator

📊 Stat of the Day

💸 67: Average number of hours that married American couples work each week. It’s a number that has stayed remarkably consistent since the 1880s. Although women are making up a higher percentage of those hours these days.

💰️ Deal Alert: Today’s Top Deals

40+ of the best deals for Earth Day 2024

Get this deal.

The best deals of The Home Depot’s Spring Black Friday Sale

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See All of the Best Deals Today

🎙️ Podcast

YouTube video by Clark Howard: Save More, Spend Less

Full Show: Clark Stinks! and Working Less on Fridays

It’s time for "Clark Stinks!" Christa reads the latest "Clark Stinks!" submissions and Clark responds. Also, in some jobs, Fridays have become slightly less productive than other workdays. Clark explains why it’s not a bad thing!

Watch the Full Episode

☎️ Need Money Help?

The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.