Americans returned 8% of their purchases last year – including return fraud and abuse, costing retailers and merchants $15.9 billion annually.
1. Estimates of the total U.S. retail industry sales in 2015 are right around $3.256 trillion.
2. An astounding 8% of all retail merchandise was returned, which amounts to $260.5 billion in returns!
3. Abuse and fraud (abuse has a pretty wide definition) constitutes 6.1% of all returns, costing retailers $15.9 billion.
4. U.S. retailers lose around $9.6 billion annually on return abuse, and $14.8 ... Continue Reading →
Your credit card bill, mortgage, or auto loan statement may have a Due Date prominently displayed, but when do those lenders actually report your balance – or if your payment is late – to the credit bureaus?
Knowing when each of your credit accounts reports can serve as a valuable aid in managing your credit score and finances. For instance, if you purposely pay down a credit card balance by this date – not just the due date – your credit ... Continue Reading →
Have you ever run into a sales professional – maybe even one of your realtor or loan officer peers – that talk a mile a minute, spouting so much information and banter that their client barely has a second to get a word in? Chances are they’re not the top-producing sales person in your office – or even anywhere close, right?
That’s because a sale occurs when you listen, not when you’re speaking. For that reason the Socratic Method – or ... Continue Reading →
We spend a lot of time on this blog scrutinizing the factors and financial decisions that affect our credit scores, but we realize it’s important to educate consumers what WON’T hurt their credit scores. But as you go down this list, remember that there are different credit agencies and scoring models that treat things differently, and we always advocate paying all of your bills and debts on time. That being said, here are 15 things that WON’T hurt your credit ... Continue Reading →
Are we facing an auto loan subprime bubble?
In part one of this blog, we discussed why America may be facing the biggest subprime bubble since the mortgage meltdown in 2008, but this time the shaky loans in question are to finance automobiles, not houses.
Will this lead to mass defaults and greater economic problems like what happened with the mortgage market? We outlined 15 facts about our auto loans and the possibility of another subprime bubble.
Here are the next 10 ... Continue Reading →