Did you know there is a consumer "distress" index?
TheStreet has the details, but basically, a nonprofit credit counseling firm called CredAbility owns a Consumer Distress Index – and it shows that Americans are getting more anxious about the economy.
The Index is at 64.4 right now, down from 65.2 from the second quarter of 2010. CredAbility says any number below 70 indicates “financial distress.”
Any way you spin it, Americans just aren’t buying talk from Wall Street or Washington about an economic recovery. The fact that we even have such an index tells you how tough things are for many families right now.
Bank savers understand that, too. Interest rates are at historic lows, and the Federal Reserve seems determined to keep bank rates down, given its low-interest rate policy.
This is all the more reason to check out Deals Of the Week, your best bet for finding the best banking deals on the market – and for keeping your own “distress index” in check. Here are this week's finds:Credit Cards
The deal is only good for new cardholders, but even existing customers can get 5% cash back using the More card.
Here’s how to get in on the action. Go to the Discover More card page, fill out the application, choose a card design, and transfer the balance from your existing card if you like. And that’s about it. Discover says you’ll get your $100 within eight weeks of being approved for the More credit card.
With the Discover More card, you’ll also get:
- 5% cash back bonus in categories like travel, home improvement stores, department stores, gas, groceries, restaurants, and many more.
- Up to 1% unlimited Cash back Bonus on all other purchases automatically.
- Unlimited cash rewards that never expire.
- The ability to increase, or even double, your rewards every time you redeem for gift cards or instant eCertificates from over 100.