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- Why you still owe after paying off your credit card (4 3 25)
Why you still owe after paying off your credit card (4 3 25)
Anthony Hazzard
April 03, 2025
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Auto prices could face significant price increases. But what does this mean for you and me? Find out more later in this email.
💵 Today’s Top Stories
 | A Clark listener paid off her credit card balance. She felt surprised when she owed “residual interest” the next month. Is that legal? Read more. |
 | Want to immediately lower your living expenses? Here are 10 cities to consider based on quality of life, value, desirability and the job market. Read more. |
 | First determine whether you actually need one. You may be surprised. Then make sure your advisor is working in your best interests, not making money off your back. Read more. |
 | Clark calls this “one of the worst rip-off products that the banks have dreamt up.” Why is it so bad? And what exactly is it? Read more. |
 | Are you trying to build or repair your credit? Navy Federal has a new secured credit card that could be just what you need. Read more. |
📣 Today’s Top News
💻️ Tech Tip From Kim Komando
🚨 Banking app scam alert: A phishing attack is tricking people into installing an “updated” (read: bogus) banking app. Scammers contact you via email, SMS or voice call. Download their app, log in, and now they have your password. Stay safe: Only update apps via the App Store or Google Play. If you need your bank’s app, go to their website for a direct link. Join 575K people who get tech smart with my friend Kim Komando’s free newsletter, The Current.
🚘️ Tariffs: All Eyes on the Car Market
The tariff landscape in 2025 has been difficult to predict.
But whatever tariffs exist, and for however long, are likely to affect the auto industry. And sometimes by a significant amount.
An interesting stat: One day after the U.S. announced it will charge a 25% import tax on imported vehicles and auto parts, shares of rental car companies Avis and Hertz soared. They had gained nearly 20% at one point, threatening all-time record days.
Rental car companies often sell their used cars. So that’s a strong signal on what may happen to car prices, assuming these tariffs are implemented and remain active in the intermediate term.
U.S. car dealerships imported 46% of light vehicles (cars, SUVs, hybrids and pickup trucks) it sold last year, mainly from Mexico, South Korea, Japan, Canada and Germany.
According to Car Dealership Guy, Ford and Hyundai are among the brands most insulated from these tariffs, while General Motors, Porsche, BMW and Mercedes-Benz could get hit hard.
It’s hard to predict how much of those increased costs that automakers will pass on to consumers – and how other factors could impact prices. It’s likely a brand-by-brand situation, just like recovery from the COVID-19-fueled supply chain issues was.
But it’s possible that some vehicles could see significant price increases on the horizon.
📊 Stat of the Day
💸 $47.5 billion: Wall Street bonuses paid out in 2024, an all-time record. The average: nearly $250,000, up 30%. One in 11 jobs in New York City is tied to Wall Street in some way.
💰️ Deal Alert: Today’s Top Deals
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🎙️ Podcast
New data shows home insurance premium increases across the country. Which areas will get hit the hardest? Clark shares the latest. Also, there’s a surge in cryptocurrency again. Clark explains his crypto money rule.
☎️ Need Money Help?
The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.
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