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need to know
‘War Room’ could be box-office surprise
Nassim Taleb’s ‘Black Swan’ fund made $1 bln
Staples, Office Depot to delay close of merger
PBF Energy chemical leak in Del. refinery
5 silly new words in the Oxford dictionary

10 money stories you might have missed but shouldn’t have
10 money stories you shouldn’t have missed

Now is the time to fix your investment portfolio
Now is   the time to fix your investment portfolio
Both worry, be happy that stocks aren’t sure bet

By this measure, stocks have weathered the worst
By this measure, stocks have weathered the worst

Atlantic hurricanes lose sway over oil-and-gas market
Atlantic hurricanes lose sway over oil, gas markets

Blue-chips with fat dividends offer value


These are the best jobs for millennials
These are the best jobs for millennials


Have kiddie birthday parties gone too far?

Parents: You’re putting your kids in danger
Parents: You’re putting your kids in danger

Harry Styles makes more waves for SeaWorld
Harry Styles makes more waves for SeaWorld

Apple Watch debut stronger than previously thought: IDC
Apple to host Sept. 9 product event
Apple closes in on Fitbit in wearables
Apple loses key Beats1 radio executive

Apple, Amazon, Google on post-selloff shopping lists
Amazon, Google on post-selloff shopping lists
In this Amazon Prime, not all goods ship for free

Never use a market order when stocks are selling off
Schwab site hit by outages in busy trade stretch
Lack of fear means this correction isn’t finished

Most imposing stock ‘wall of worry’ in 5 years
Worried? With good advice, you won't be

Meet the author of one of Wall Street’s best-read blogs
Meet the author of a best-read Wall Street blog

This is the happiest country on Earth to live in
This is the happiest country on Earth to live in

China wins the Battle of Mountain Pass
China just undermined the U.S. Defense Department

China may be in worse shape than most of us think
What should China do to fix its economy?
Analysts dismiss fears of a China hard landing
‘Loch Ness monster’ and China's mystery rally

Tesla Model S scores 103 on 100-point scale
Tesla Model S scores 103 on 100-point scale
Elon Musk retweets slow-driving Tesla owner
Colbert should ask Elon Musk, Kalanick this
$400,000 supercar goes up in flames

How Aldi stacks up vs. Trader Joe's
How Aldi stacks up against Trader Joe’s


/conga/frontpage.html 353633

Markets »

131.79MDow Volume:
Avg Vol: 112.32M
Unchanged
186
Decliners
2190
Advancers
4209
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,643 -12 0.07%
Nasdaq
/quotes/zigman/12633936/realtime 4,828 +16 0.32%
S&P 500
/quotes/zigman/3870025/realtime 1,989 +1 0.06%
GlobalDow
/quotes/zigman/629063/realtime 2,373 +13 0.54%
Gold
/quotes/zigman/662444/delayed 1,133 +11 0.95%
Oil
/quotes/zigman/2331095/delayed 45.33 +2.77 6.51%
FTSE 100
/quotes/zigman/3173262/delayed 6,248 +56 0.90%
DAX
/quotes/zigman/2380246/delayed 10,299 -17 0.17%
CAC 40
/quotes/zigman/3173214/delayed 4,675 +17 0.36%
FTSE MIB
/quotes/zigman/1482176/delayed 21,994 -208 0.93%
IBEX 35
/quotes/zigman/2759620/delayed 10,353 +63 0.61%
Stoxx 600
/quotes/zigman/2380150/delayed 363 +1 0.28%
Asia Dow
/quotes/zigman/6959860/realtime 2,798 +45 1.64%
Nikkei 225
/quotes/zigman/5986735/delayed 19,136 +562 3.03%
Hang Seng
/quotes/zigman/2622475/delayed 21,612 -226 1.04%
Shanghai
/quotes/zigman/1859015/delayed 3,232 +149 4.82%
Sensex
/quotes/zigman/1652085/delayed 26,392 +161 0.61%
Singapore
/quotes/zigman/1709939/delayed 2,956 +11 0.36%
Euro
/quotes/zigman/16008136/realtime/sampled 1.12 -0.01 0.54%
Yen
/quotes/zigman/16008150/realtime/sampled 121.70 +0.67 0.55%
Pound
/quotes/zigman/16008140/realtime/sampled 1.54 0.00 0.07%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.72 +0.00 0.03%
DXY Index
/quotes/zigman/1652083/delayed 96.15 +0.38 0.40%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.50 +0.24 0.27%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.18 0.00 0.12%
German 10y
/quotes/zigman/15866409/realtime 0.75 +0.00 0.17%
Italy 10yr
/quotes/zigman/15866497/realtime 1.91 -0.02 0.80%
Spain 10yr
/quotes/zigman/15866444/realtime 2.06 +0.01 0.26%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.85 -0.02 0.96%
Japan 10yr
/quotes/zigman/15866525/realtime 0.38 -0.01 2.48%
Crude Oil
/quotes/zigman/2331095/delayed 45 +3 6.51%
Gold
/quotes/zigman/662444/delayed 1,133 +11 0.95%
Corn
/quotes/zigman/7599553/delayed 374 -1 0.20%
DJIA F
/quotes/zigman/38649152/delayed 16,632 -18 0.11%
S&P F
/quotes/zigman/30356461/delayed 1,986 -3 0.15%
Silver
/quotes/zigman/3134148/delayed 15 +0 0.89%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 91.01 1.28 1.43%
AAPL /quotes/zigman/68270/composite 113.29 0.37 0.33%
GOOG /quotes/zigman/30194416/composite 630.38 -7.23 -1.13%
BAC /quotes/zigman/190927/composite 16.36 -0.08 -0.49%
C /quotes/zigman/5065548/composite 53.28 -0.16 -0.30%
F /quotes/zigman/264304/composite 13.74 0.18 1.33%
T /quotes/zigman/398198/composite 33.29 -0.15 -0.45%
BP /quotes/zigman/247026/composite 33.26 0.23 0.70%
GE /quotes/zigman/227468/composite 25.16 0.15 0.60%
Visit the quote page and your most recently viewed stocks will automatically be displayed here.
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World News from MarketWatch

Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

SPONSORED SECTIONS

Trending Tickers
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Our real-time advice on how market shifts and news impact you and your money

Pay Down Student Loans — by Shopping?

College graduates can now pay off their student loans by paying their bar tabs. That’s the marketing pitch for a debit card aimed at those saddled with loan debt.

Getty Images

But borrowers should tread lightly: They’ll have to spend a lot on clothing and nightlife before seeing any meaningful rewards, experts say. They also may incur high fees.

Launched Wednesday, the so-called SmarterBank Visa debit card offers graduates rewards of up to 1% on purchases, which are put towards their student loan balances. The size of those rewards will depend on several factors, including the purchases a cardholder makes – the more they swipe for, the more they can earn in rewards – and whether they incur one of the 20 or so fees the card — or the checking account it’s tied to — charge. The card was launched by SimpleTuition.com, a student loan comparison company, whose executives include former student loan lenders.

Though the first student loan debit card, it’s not the first product aimed at students sinking deeper into debt. The UPromise credit card, for instance, offers at least 1% back on all purchases, which cardholders can use to pay down their student loans. And more will likely roll out as student debt grows, says John Ulzheimer, president of consumer education at SmartCredit.com, a credit monitoring site. Roughly 37 million Americans have outstanding student loans, according to FinAid.org. Last year, 66% — or 1.8 million – of Bachelor’s degree recipients had student loans – a figure that’s expected to rise.

Here’s how the card works: Cardholders get 0.5% rewards for signature-based purchases of up to $100 and 1% on anything over that amount. (Regular debit-card programs offer 0.5% on average in rewards, according to Bankrate.com.) To earn enough rewards to make a dent in their student loan balance, cardholders will need to spend – a lot. Someone who swipes for $1,000 in purchases per month can get up to $10 in monthly rewards. The company says those rewards can lead to real savings: If applied to a 10-year loan of $8,500 at 6.8% interest, it could help a borrower repay that debt 16 months faster and save up to $1,500. But for the roughly two-thirds of students who graduate college with loans, which are projected to average $28,700 this year, earning $10 a month in rewards will shave just five months off their repayment period.

There are also fees. Cardholders will incur a $2 fee if they use an ATM outside the card’s network, while the average out-of-network fee is $1.41, according to Bankrate.com. Checking account fees include a $5 fee to get a copy of their statement and a “research fee” of $25 per hour if the cardholder wants the bank to review their account – something many banks don’t charge for, says Ulzheimer. Some of the fees are no higher than the industry average, says Greg McBride, senior financial analyst at Bankrate.com. For instance, there’s a $25 charge for insufficient funds, when the cardholder tries to withdraw more money from their checking account than they have. The average fee is $30.83, McBride says.

Consumer advocates say the idea of spending to save on student loans doesn’t make sense. “They’re using the flashy reward of paying your loans faster by spending more money, which is counterintuitive,” says Rich Williams, a higher education advocate with U.S. PIRG.

For its part, SimpleTuition.com says that the fees don’t impact the rate at which rewards are earned. The company says the SmarterBank debit card can be used in conjunction with borrowers’ overall plan to pay down their student loan debt. “They can get ahead and pay it down faster rather than carry it for 20 years,” says co-founder Patrick Kandianis.

Consumers who’d like to use earn rewards to pay down their student loan debt can consider alternative options. Community banks and credit unions tend to offer free debit cards, which also often have rewards. Another option is using credit cards, as fees have been dropping and rewards have been rising. Consumers who avoid interest charges by paying their balance in full could potentially earn more in rewards than they would with a debit card.

Comments

We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name.

Comments (5 of 12)

View all Comments »
    • I had an account with Smarterbank (Bancorp bank) and they put a restriction on my account when I bounced a check AND didn’t tell me they closed my account while drawing interest on my refund check from school. Needless to say I prepay my bills and those checks bounced now I owe over $130 in NSFs to those companies! And they only paid $15 to wards my loans! Lesson learned….

    • I have one of these cards and did some research beforehand. I also kept my credit union account for my savings accts, rent and other bills.
      Here’s what I know about using Smarterbank:
      This is a debit card so, no interest rate. I have my existing checking account so I would never use the Smarterbank checks and therefore never incur the fees that go along with them. I got this card to pay for gas, groceries, bills I can pay with a card including my $200 cell bill, other household items, family trips, hotels, dinners out, etc…, etc… Do we not spend a considerable amount monthly to maintain our households? If you buy frivolous things, than so be it, but that is not what the company encourages.

    • The product is a checking account with a Visa Debit card. Its NOT a credit card.

    • my neighbor’s aunt made $14862 past week. she has been working on the computer and moved in a $587500 home. All she did was get lucky and use the guide uncovered on this link (Click on menu Home more information) lazycash33.cøm

    • roomate’s step-sister got paid $18728 the prior week. she works on the laptop and moved in a $426400 house. All she did was get fortunate and put in action the instructions given on this website makecash16. çom

About Real-Time Advice

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MarketWatch - Stock Market Quotes, Business News, Financial News
Bulletin
Investor Alert

Tokyo Markets Open in:

need to know
‘War Room’ could be box-office surprise
Nassim Taleb’s ‘Black Swan’ fund made $1 bln
Staples, Office Depot to delay close of merger
PBF Energy chemical leak in Del. refinery
5 silly new words in the Oxford dictionary

10 money stories you might have missed but shouldn’t have
10 money stories you shouldn’t have missed

Now is the time to fix your investment portfolio
Now is   the time to fix your investment portfolio
Both worry, be happy that stocks aren’t sure bet

By this measure, stocks have weathered the worst
By this measure, stocks have weathered the worst

Atlantic hurricanes lose sway over oil-and-gas market
Atlantic hurricanes lose sway over oil, gas markets

Blue-chips with fat dividends offer value


These are the best jobs for millennials
These are the best jobs for millennials


Have kiddie birthday parties gone too far?

Parents: You’re putting your kids in danger
Parents: You’re putting your kids in danger

Harry Styles makes more waves for SeaWorld
Harry Styles makes more waves for SeaWorld

Apple Watch debut stronger than previously thought: IDC
Apple to host Sept. 9 product event
Apple closes in on Fitbit in wearables
Apple loses key Beats1 radio executive

Apple, Amazon, Google on post-selloff shopping lists
Amazon, Google on post-selloff shopping lists
In this Amazon Prime, not all goods ship for free

Never use a market order when stocks are selling off
Schwab site hit by outages in busy trade stretch
Lack of fear means this correction isn’t finished

Most imposing stock ‘wall of worry’ in 5 years
Worried? With good advice, you won't be

Meet the author of one of Wall Street’s best-read blogs
Meet the author of a best-read Wall Street blog

This is the happiest country on Earth to live in
This is the happiest country on Earth to live in

China wins the Battle of Mountain Pass
China just undermined the U.S. Defense Department

China may be in worse shape than most of us think
What should China do to fix its economy?
Analysts dismiss fears of a China hard landing
‘Loch Ness monster’ and China's mystery rally

Tesla Model S scores 103 on 100-point scale
Tesla Model S scores 103 on 100-point scale
Elon Musk retweets slow-driving Tesla owner
Colbert should ask Elon Musk, Kalanick this
$400,000 supercar goes up in flames

How Aldi stacks up vs. Trader Joe's
How Aldi stacks up against Trader Joe’s


/conga/frontpage.html 353633

Markets »

131.79MDow Volume:
Avg Vol: 112.32M
Unchanged
186
Decliners
2190
Advancers
4209
Price Chg %Chg 1 Day
Range: 1 Day
  • 1 Day
  • 5 Days
  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 2 Years
Dow
/quotes/zigman/627449/realtime 16,643 -12 0.07%
Nasdaq
/quotes/zigman/12633936/realtime 4,828 +16 0.32%
S&P 500
/quotes/zigman/3870025/realtime 1,989 +1 0.06%
GlobalDow
/quotes/zigman/629063/realtime 2,373 +13 0.54%
Gold
/quotes/zigman/662444/delayed 1,133 +11 0.95%
Oil
/quotes/zigman/2331095/delayed 45.33 +2.77 6.51%
FTSE 100
/quotes/zigman/3173262/delayed 6,248 +56 0.90%
DAX
/quotes/zigman/2380246/delayed 10,299 -17 0.17%
CAC 40
/quotes/zigman/3173214/delayed 4,675 +17 0.36%
FTSE MIB
/quotes/zigman/1482176/delayed 21,994 -208 0.93%
IBEX 35
/quotes/zigman/2759620/delayed 10,353 +63 0.61%
Stoxx 600
/quotes/zigman/2380150/delayed 363 +1 0.28%
Asia Dow
/quotes/zigman/6959860/realtime 2,798 +45 1.64%
Nikkei 225
/quotes/zigman/5986735/delayed 19,136 +562 3.03%
Hang Seng
/quotes/zigman/2622475/delayed 21,612 -226 1.04%
Shanghai
/quotes/zigman/1859015/delayed 3,232 +149 4.82%
Sensex
/quotes/zigman/1652085/delayed 26,392 +161 0.61%
Singapore
/quotes/zigman/1709939/delayed 2,956 +11 0.36%
Euro
/quotes/zigman/16008136/realtime/sampled 1.12 -0.01 0.54%
Yen
/quotes/zigman/16008150/realtime/sampled 121.70 +0.67 0.55%
Pound
/quotes/zigman/16008140/realtime/sampled 1.54 0.00 0.07%
Australia$
/quotes/zigman/16008115/realtime/sampled 0.72 +0.00 0.03%
DXY Index
/quotes/zigman/1652083/delayed 96.15 +0.38 0.40%
WSJ $ Idx
/quotes/zigman/41508961/realtime 88.50 +0.24 0.27%
U.S. 10yr
/quotes/zigman/15866666/realtime 2.18 0.00 0.12%
German 10y
/quotes/zigman/15866409/realtime 0.75 +0.00 0.17%
Italy 10yr
/quotes/zigman/15866497/realtime 1.91 -0.02 0.80%
Spain 10yr
/quotes/zigman/15866444/realtime 2.06 +0.01 0.26%
U.K. 10yr
/quotes/zigman/15866328/realtime 1.85 -0.02 0.96%
Japan 10yr
/quotes/zigman/15866525/realtime 0.38 -0.01 2.48%
Crude Oil
/quotes/zigman/2331095/delayed 45 +3 6.51%
Gold
/quotes/zigman/662444/delayed 1,133 +11 0.95%
Corn
/quotes/zigman/7599553/delayed 374 -1 0.20%
DJIA F
/quotes/zigman/38649152/delayed 16,632 -18 0.11%
S&P F
/quotes/zigman/30356461/delayed 1,986 -3 0.15%
Silver
/quotes/zigman/3134148/delayed 15 +0 0.89%

Quotes

Symbol Price Change % Change
FB /quotes/zigman/9962609/composite 91.01 1.28 1.43%
AAPL /quotes/zigman/68270/composite 113.29 0.37 0.33%
GOOG /quotes/zigman/30194416/composite 630.38 -7.23 -1.13%
BAC /quotes/zigman/190927/composite 16.36 -0.08 -0.49%
C /quotes/zigman/5065548/composite 53.28 -0.16 -0.30%
F /quotes/zigman/264304/composite 13.74 0.18 1.33%
T /quotes/zigman/398198/composite 33.29 -0.15 -0.45%
BP /quotes/zigman/247026/composite 33.26 0.23 0.70%
GE /quotes/zigman/227468/composite 25.16 0.15 0.60%
Visit the quote page and your most recently viewed stocks will automatically be displayed here.
Please log in to view your watchlist
MarketWatch Portfolio

World News from MarketWatch

Rates »

5 yr CD
1.5%
2 yr CD
0.8%
1 yr CD
0.6%
MMA $10K+
0.3%
MMA $50K+
0.4%

National averages from Bankrate.com

You Don’t Need Another Credit Card, You Need A Better One.
Avg. APR Last Week 6 Months
Low Interest 11.62% 11.62% 11.53%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Balance Transfer 14.12% 14.12% 14.00%
Airline 15.10% 15.10% 15.15%
Reward 15.14% 15.14% 14.99%
Cash Back 15.27% 15.27% 15.26%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.48%
Source:CreditCards.com

SPONSORED SECTIONS

Trending Tickers
  • /quotes/zigman/10944615/composite FIVE+2.39%
  • /quotes/zigman/3000986/composite DANG-3.30%
  • /quotes/zigman/83890/composite MDCO+5.95%
  • /quotes/zigman/7601800/composite JOY-1.23%
  • /quotes/zigman/477947/composite XME+2.38%
X
Powered by StockTwits
Link to MarketWatch's Slice.

As of July 2, 2013, the SmartMoney content you loved now lives on MarketWatch.

MarketWatch will continue to provide the same important news and information you rely on every day. And, as a MarketWatch user, you will be able to enjoy:

  • Personalized news and quote email alerts
  • Editorial e-newsletters about personal finance, mutual funds and market-specific coverage
  • Premium newsletters by our market experts
  • Games, such as Virtual Stock Exchange and Beat the Darts
  • Free WSJ.com registration

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