04.25.23 Apple’s Savings Offer / Medical Debt & Your Credit: New Rules

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.6 • 4.9K Ratings

🗓️ 25 April 2023

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

What to know about Apple’s new savings account offer. Plus, a cautionary note about companies promoting high savings rates that only amount to promissory notes because they’re NOT insured. Learn what to look out for to protect your hard earned savings. Also today, the wait is over. Finally a new rule on medical debt kicks in that could kick up your credit score. Apple Savings Offer: Segment 1 Ask Clark: Segment 2 Medical Debt Law Now In Effect: Segment 3 Ask Clark: Segment 4 Mentioned on the show WSJ: Apple Makes the iPhone a Home for Savings Accounts Clark.com: Apple Is Now Offering 4.15% APR Savings Accounts: Is There a Catch? This Start-Up Promises Rates 13 Times Higher Than a Typical Savings Account. One Problem: It Isn’t a Bank Deposit Insurance - FDIC / Are Credit Union Deposits Insured Up To $250,000? Fidelity Youth Account frequently asked questions (FAQs) CarMax Review: 5 Things To Know Before You Buy or Sell [The Washington Post] Finally, medical debt under $500 has been removed from credit reports What is a “surprise medical bill” and what should I know about the No Surprises Act? 3 Ways To Get a Free VIN Check Before Buying a Used Car How To Spot a Puppy Scam Online Clark.com resources Episode transcripts Community.Clark.com Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Crypto doesn't sleep, so neither do we.
0:04.0	Crack-and-client support is available 24-7, 365 days a year by call, chat, or email.
0:11.0	We're here for you whenever you need us.
0:14.0	Give us a shout at crackin.com forward slash support proof, not investment advice.
0:19.0	Crypto trading involves risk of loss.
0:22.0	I'm so glad to welcome you here to the Clark Howard Show.
0:30.0	Our mission is to serve you and empower you to make better financial decisions in your life.
0:37.0	Hope you find our website's Clark.com and ClarkDeals.com to be helpful when you are making financial decisions.
0:45.0	On today's show, I talk a lot about Apple because I'm asked a lot of questions about Apple.
0:52.0	They are a cultural phenomenon.
0:55.0	Apple has become the dominant cell phone in the United States.
1:01.0	To my knowledge, we are the first country in the world where iPhones have more than 50% market share in the world,
1:10.0	just so you know, Android is 70% of the market.
1:15.0	Apple is so embedded in people's lives in the United States.
1:21.0	They're doing something that is a real deal for your wallet.
1:26.0	I want to explain it to you and what it means about how banking works in the United States.
1:34.0	Something that I have told you about going back last year, talked about it earlier this year, is now in place.
1:45.0	It's how medical debts in many cases are not going to destroy your credit like they have in the past.
1:53.0	I'll be right on that later.
1:55.0	So now the Apple news.
1:57.0	I've always believed this stayed archaic industry, the banking industry in the United States, was never going to change from within.
2:08.0	It would only progress because of threats from without.
	...

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