Will lower interest rates help you escape credit card debt? Experts say no — but you still have options [Business Insider]
LendingClub Corporation (LC)
Last lendingclub corporation earnings: 2/18 04:06 pm
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Source: Business Insider
However, Fed rate cuts won't be large enough to significantly lower high-interest credit card debt. Four financial experts share debt management advice, such as negotiating lower interest rates. The Federal Reserve is widely expected to lower interest rates by 25 basis points this month, which has many would-be homebuyers wondering if now is the right time to buy a house But what does the anticipated rate dip mean for those who are looking to consolidate debt or fund emergency expenses with a personal loan or credit card ? Not much will change, according to four financial experts we spoke with — your game plan should still be to pay down debt as quickly as possible at the lowest interest rate you can secure. A national debt crisis Americans are facing a credit card debt crisis , with millennials and Gen Z at the forefront of the struggle. U.S. households collectively carried $1.15 trillion of credit card debt in the first quarter of 2024, according to Federal Reserve data r
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News
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- LendingClub Bank review (2024) [Yahoo! Finance]Yahoo! Finance
- 20 CDs that pay 5% APY or higher (updated weekly) [Yahoo! Finance]Yahoo! Finance
- I'm 32 and need cash to pay this month's rent. I'm considering getting a car title loan — is it worth the risk? [Yahoo! Finance]Yahoo! Finance
LC
Earnings
- 7/30/24 - Beat
LC
Sec Filings
- 9/6/24 - Form 4
- 8/28/24 - Form 4
- 8/28/24 - Form 4
- LC's page on the SEC website