09.15.23 Clark Answers His Critics on Clark Stinks / The Credit Card Competition Act

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.6 • 4.9K Ratings

🗓️ 15 September 2023

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

Friday - Clark Stinks day! Christa shares Clark Stinks posts with Clark. Submit yours at Clark.com/ClarkStinks. Also today, the U.S. has the highest credit card processing merchant fees in the world - the system that feeds credit card rewards. Clark explains the industry battle surrounding the proposed Credit Card Competition act of 2023, which would allow free market competition for merchant processing. Learn what’s at stake and where Clark stands on getting U.S. fees aligned with the world standard. Clark Stinks: Segments 1 & 2 The Credit Card Competition Act: Segment 3 Ask Clark: Segment 4 Mentioned on the show Home Equity Loan vs. HELOC: What's the Difference? Aven HELOC Card: 5 Things To Know About the Home Equity Credit Card Credit Card Car Rental Insurance: What You Need To Know Target Date Funds: Clark's Favorite Retirement Investment Equifax - Can Creditors Go After My Retirement Accounts? 3 Strategies for Building a Core Portfolio Should I Buy an AirTag for My Checked Airport Luggage? 4 Things To Know Before You Buy a Digital TV Antenna WSJ - Visa, Mastercard Prepare to Raise Credit-Card Fees Congress.gov - S.1838 - Credit Card Competition Act of 2023 Clark.com -Are Credit Card Rewards Going Away? The Best Places To Buy Unlocked Phones 6 Things To Know Before You Buy Gas at Costco Wholesale TOP TIER™ Gasoline Brands 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	When you can't quite get the angle, take hands free selfies with the Samsung Galaxy Z Flip 5.
0:05.1	Stand it up, step back, and your photos are also synced to your Chromebook, ready to edit.
0:10.8	The new Samsung Galaxy Z Flip 5 and Chromebook, available on Vodafone.
0:20.0	It's my pleasure to welcome you here at the Clark Howard Show.
0:22.9	Our mission is to serve you and empower you to make better financial decisions in your life.
0:30.4	One decision I made years ago was to add a segment of the show that is the highlight of my week
0:38.8	and what we do here. It's our Clark Stink segment where you get to set me straight, disagree
0:44.4	with me, be hot under the collar at me, whatever, because that's how we learn.
0:50.8	We learn from constructive criticism from each other and I really appreciate that you take the
0:57.7	time to do your posts. Later, I've been getting a lot of questions about the Credit Card Competition
1:07.2	Act. I've got to tell you what's going on behind the curtain with this, that the word on the
1:14.6	street is this is going to eliminate credit card rewards. I'm going to give you my 2% on this
1:23.8	later in this podcast. But right now it's time for Clark Stinks.
1:30.3	I should have never encouraged you to speak. You know what you think? I'm pretty stupid.
1:34.4	You should be ashamed of yourself. Maybe I'm wrong, maybe I'm wrong.
1:38.0	Maybe you're right, pal.
1:45.2	Okay, you ready?
1:46.2	Ready, aim, fire.
1:48.4	You're just a little smelly like deli meat a day past its prime.
1:52.1	Recently you advised a listener to consider important factors when thinking about taking
1:56.4	out a home equity loan to pay off credit cards and do home improvements.
2:00.3	I appreciate that you pointed out that they need to make sure they're not the type person
	...

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