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Posted in Personal

Is Chase’s 5/24 rule based on inquiries or new accounts?



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Editor’s note: This is a recurring post, regularly updated with new information.

Since credit card sign-up bonuses represent some of the best ways to rack up a large number of points and miles, it’s critical to understand the various application restrictions from major issuers. One of the most important among these is Chase’s 5/24 rule, which says that Chase will automatically reject your application if you’ve opened five or more credit cards in the last 24 months across all issuers (excluding most business cards).

It can be confusing to understand the practical implications of this restriction, and TPG reader Aaron wants to know whether new inquiries or new accounts are used to determine 5/24 status:

I just applied

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Posted in Business

Assessing health insurance options amid a pandemic

For the tens of millions of Americans who have lost their jobs, there is another frightening reality to absorb: amid a global health pandemic, they no longer have health insurance. This is one of the big problems with having insurance linked to a workplace plan, but for more than 156 million Americans, or just under half of the country’s total population, that’s the coverage they have.



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According to healthcare advocacy group Families USA, layoffs between February and May meant that 5.4 million workers lost their health insurance coverage — “an increase nearly 40% higher than the largest previous annual increase in uninsured adults ever recorded.” If you suddenly find yourself uninsured, there are three choices for coverage: COBRA, the Affordable Care Act, and Medicaid.

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Let’s start with COBRA (Consolidated Omnibus Budget Reconciliation Act), the federal rule that requires group health plans

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Posted in Finance

CNA Financial Corp (CNA) Q2 2020 Earnings Call Transcript

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Image source: The Motley Fool.

CNA Financial Corp (NYSE:CNA)
Q2 2020 Earnings Call
Aug 3, 2020, 9:00 a.m. ET

Contents:

  • Prepared Remarks
  • Questions and Answers
  • Call Participants

Prepared Remarks:

Operator

Good morning and welcome to CNA’s discussion of its 2020 Second Quarter Financial Results. CNA’s second quarter earnings release, presentation and financial supplement were released this morning and are available via its website, www.cna.com. Speaking today will be Dino Robusto, CNA’s Chairman and Chief Executive Officer; and Al Miralles, CNA’s Chief Financial Officer. Following their prepared remarks, we will open the line for questions.

Today’s call may include forward-looking statements and references to the non-GAAP financial measures. Any forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from the statements made during the call. Information concerning those risks is contained in the earnings release and in CNA’s most recent SEC filings.

In addition, the

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Posted in Money

The future of digital currencies EJINSIGHT

Photo: Reuters

As the COVID-19 crisis accelerates the long-term shift away from cash (at least in tax-compliant, legal transactions), official discussions about digital currencies are heating up. Between the impending launch of Facebook’s Libra and China’s proposed central-bank digital currency, events today could reshape global finance for a generation. A recent report from the G30 argues that if central banks want to shape the outcome, they need to start moving fast.

Much is at stake, including global financial stability and control of information. Financial innovation, if not carefully managed, is often at the root of a crisis, and the dollar gives the United States significant monitoring and sanctions capabilities. Dollar dominance is not just about what currency is used, but also about the systems that clear transactions, and, from China to Europe, there is a growing desire to challenge this. This is where a lot of the innovation is taking place.

Central

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Posted in Personal

Where Can You Invest Your Money?

Savings should be encouraged, but it is better to invest your money and watch it grow. There are minimal benefits of saving money, but with the right investment, you can be assured of excellent financial security. However, investments can be risky, making many people prefer keeping their money than taking these risks.

What factors will reduce these risks, and are there companies that can guarantee safe investments? You must invest with the right companies with excellent services, and they should ensure growth in your finances.

How to Choose an Investment Company

With the right investments, you will make money, and it will put you at ease to know that your payment is secured. But how do we know that a company is the right financial institution to invest and feel safe. Read Silver Gold Bull Reviewsas one of the companies to consider for your investment amongst other great companies.… Read More

Posted in Insurance

When will you get your next coronavirus stimulus check?

Officials are moving closer and closer to a deal that would put more money directly into your pocket as the country continues to struggle with the coronavirus pandemic.

Senate Majority Leader Mitch McConnell (above) and his fellow Republicans have introduced a relief package that includes a repeat of those popular “stimulus checks” of up to $1,200 that most Americans got earlier this year. And this time, families would get bigger payouts.

The proposal is very similar to one the Democratic-controlled U.S. House passed a couple of months ago — but not close enough to avoid congressional bickering that could keep you from getting your money quickly.

Here’s what we know about the timing of the next round of checks, direct deposits and debit cards.

How the second stimulus checks are shaping up

ungvar / Shutterstock
The new payments will be the same as the last ones, except for families.

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Posted in Personal

‘What enemies have I indicted?’ Four takeaways as William Barr spars with House Democrats

Attorney General William Barr is sworn in before testifying before the House Judiciary Committee on Capitol Hill on 28 July, 2020: REUTERS
Attorney General William Barr is sworn in before testifying before the House Judiciary Committee on Capitol Hill on 28 July, 2020: REUTERS

Attorney General William Barr sustained a number of attacks from House Democrats during a sometimes-contentious hearing on Tuesday, managing to deliver a few shots of his own.

Mr Barr took a rhetorical lashing from the start during a hearing, delayed in dramatic fashion when House Judiciary Chairman Jerrold Nadler was involved in a minor car accident, as the New York Democrat came out firing. He accused Mr Barr of waging a “war” on his own Justice Department to “protect” his boss, the president.

A two-time Cabinet member and no stranger to the hot seat before a committee controlled by hostile Democrats, Mr Barr toggled between listening to the opposition party’s charges of corruption and presidential interference by sitting stone-faced or raising his voice during several tense exchanges.

Congressman

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Posted in Personal

Virgin Galactic shows off passenger spaceship cabin interior

LOS ANGELES (AP) — Passengers flying Virgin Galactic on suborbital trips into space will be able to see themselves floating weightless against the backdrop of the Earth below while 16 cameras document the adventures, the company said Tuesday.

Highly detailed amenities to enhance the customer flight experience were shown in an online event revealing the cabin of the company’s rocket plane, a type called SpaceShipTwo, which is undergoing testing in preparation for commercial service.

There are a dozen windows for viewing, seats that will be customized for each flight’s six passengers and capable of adjusting for G forces, and, naturally, mood lighting.

Yet designer Jeremy Brown said the passengers’ most lasting impression may come from a large mirror at the rear of the cabin.

“We think that there’s a real memory burn that customers are going to have when they see that analog reflection of themselves in the back of

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Posted in Insurance

Aspiration Review: The big bank alternative

Aspiration defies easy labels. It’s almost like this financial company is daring you to categorize it.

It’s not a bank, though it offers accounts that are sort of like checking accounts, sort of like savings accounts. Plus, it has debit cards, offers better-than-the-usual interest, provides cash back and has a do-gooder vibe.

The MoneyWise editorial team developed a grading system — taking into account fees, features and other factors — to prescribe the four-star rating shared in this first-person review. The opinions and writing in this article are solely my own, conveying my experience with Aspiration as a product. Other customer’s outcomes may differ.

MoneyWise Rating: 4 stars (out of a possible 5)

Courtesy of Aspiration Partners, Inc.

As a customer with one of the “Spend & Save” accounts, I’d use quirky to describe Aspiration, and I mean that in a good, likable way. Fees are voluntary, the debit

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Posted in Money

Miami Man, 29, Spent PPP Money On Lamborghini: Feds

MIAMI, FL — A 29-year-old Miami man has been accused of using $3.9 million in Paycheck Protection Program money to buy a $318,000 Lamborghini Huracan for himself and make other lavish purchases.

David T. Hines, 29, of Miami, Florida, was charged with one count of bank fraud, one count of making false statements to a financial institution and one count of engaging in transactions in unlawful proceeds.

“The complaint alleges that Hines sought approximately $13.5 million in PPP loans through applications to an insured financial institution on behalf of different companies,” federal prosecutors said. “The complaint alleges that Hines caused to be submitted fraudulent loan applications that made numerous false and misleading statements about the companies’ respective payroll expenses. The financial institution approved and funded approximately $3.9 million in loans.”

U.S. Attorney Ariana Fajardo Orshan of Miami announced the charges Monday along with Acting Assistant Attorney General Brian C. Rabbitt

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