Tag: credit card

Fined illustration

Credit card companies usually set small-dollar minimum payments, so there’s really no excuse for incurring fees for late card payments. Yet many consumers fail to pay on time. In a new study, British researchers found a no-brainer solution that is highly effective: setting up automatic payments of our credit cards. The researchers started out wit…

elderly man inserting credit card to ATM

Abstract Mounting evidence suggests that behavioral factors depress wealth accumulation.  Although much research and policy focuses on asset accumulation, for many households debt decumulation is more efficient.   Yet the mass market for debt reduction services is thin.  So we develop and pilot test Borrow Less Tomorrow (BoLT), a behavioral approach to debt reduction that combines…