Some retailers are increasing interest rates on their credit cards, including Macy’s

FILE — Data shows people in their 20s and 30s are impacted the most by credit card debt. (Pixabay via MGN)

Store credit cards can be tempting regarding certain benefits, but they also carry some of the higher interest rates for credit.

According to multiple reports, Macy’s recently sent a notification to some of their credit card holders regarding an APR increase.

Some card holders for Macy’s are seeing their rate increase to 34.49%, the Houston Chronicle reported.

The retailer’s card holders were reportedly told about the increase in letters sent out this month.

Personal finance website Bankrate reported earlier this year that retail credit cards were charging an average of 28.93% APR in 2023. However, some retailers were charging even higher interest rates.

“Just remember that any balance you carry on a retail credit card is likely to be more expensive than you realize, so do your best to pay off your purchases as quickly as possible,” Nicole Dieker and Aja McClanahan, personal finance writers, shared.

KFMB reports other retailers with APRs over 30% include Petco and Exxon Mobil, according to Ted Rossman, a senior industry analyst at Bankrate.

Owning a home is the least affordable it has been in nearly 2 decades, report says

FILE — Home prices continue to rise in the U.S. and a new report says home ownership is becoming the least affordable for many Americans in nearly 20 years. (WHSV)

Home prices continue to rise in the U.S. and a new report says home ownership is becoming the least affordable for many Americans in nearly 20 years.

ATTOM, a curator of land, property and real estate data, released its second-quarter 2024 U.S. Home Affordability Report earlier this month.

The report showed that median-priced single-family homes and condos remained less affordable in the second quarter of 2024 compared to historical averages in 99% of counties around the nation.

ATTOM reports that major expenses on median-priced homes consumed 35.1% of the average national wage in the second quarter, marking the highest percentage seen since 2007.

“The latest affordability data presents a clear challenge for home buyers. While home prices are increasing and mortgage rates remain relatively high, these factors are making homes less affordable,” said Rob Barber, CEO for ATTOM.

According to the report, the national median home price spiked to a new high of $360,000 during this year’s spring buying season, leading to increases in the cost of owning a home outpacing wage increases, with mortgage rates remaining around 7%.

“It’s common for these trends to intensify during the Spring buying season when buyer demand increases. However, the trends this year are particularly challenging for house hunters, more so than at any point since the housing market boom began in 2012,” Barber said.

Last month, CNN reported that the price of owning a home has been rising sharply over the last few years for expenses more than just mortgage payments.

U.S. homeowners are paying an average of $18,118 a year for property taxes, homeowners’ insurance, maintenance, energy and various other expenses, according to a June Bankrate study.

That number represents a reported 26% increase from four years ago when it cost $14,428 annually to own and maintain a home.

Counties with the largest populations that were considered unaffordable according to ATTOM were Los Angeles County, Cook County (Chicago), Maricopa County (Phoenix), San Diego County and Orange County (outside Los Angeles).

According to the report, the most populous of the 115 counties that were considered to be affordable were Harris County (Houston), Wayne County (Detroit), Philadelphia County, Cuyahoga County (Cleveland), and Allegheny County (Pittsburgh).

Man vows to never eat bologna again after winning $1 million on lottery scratch-off

A Tennessee man has secured the first top prize of the $1 million Casino Nights Kentucky Lottery scratch-off game. (Kentucky Lottery)

Logan County, Ky.

A lucky Tennessee man turned a $20 ticket into a $1 million lottery jackpot.

According to the Kentucky Lottery, Jody, who requested his last name not be shared, came to Louisville on June 10 with his father to claim their winnings from the $1 million Casino Nights Kentucky Lottery scratch-off game.

Lottery officials said Jody’s father purchased the winning ticket just a few days earlier at an Adairville Market and began scratching the ticket at the store.

“I said [to the clerk], ‘If I hit this million dollars, I ain’t ever eating bologna again,’” the father shared

The top prize was revealed within the first couple of rows where he matched the three key symbols next to the top prize amount.

“It kind of shocked me,” the father said.

He told lottery officials that he immediately called his son when he realized he’d won.

“He went, ‘You’ll never believe what I just did,’” Jody said. “And, I said, ‘What?’ He said, ‘We just won $1 million!’ I was sitting there thinking, yeah right, I don’t believe you!”

According to Jody, his father then drove down to his home to show him the ticket and they made plans to drive up to Kentucky Lottery headquarters.

Jody said he still continued with his weekend plans that included mowing the lawn while looking forward to their Louisville trip.

As for the winnings, Jody said he plans on investing the money.

“Houses are paid off. Cars paid off. We will be bill-free probably next week,” he said.

Lottery officials said Jody and his father opted to take the game’s $700,000 lump sum cash option.

White couple accused of adopting Black children and forcing them to work as ‘slaves’

Jeanne Whitefeather, 62, and Donald Lantz, 63, are accused of using five children for “forced labor” on their farm. (WV Division of Corrections)

Charleston, W.Va.

A West Virginia couple has been charged for allegedly using their adopted African American kids as “slaves.”

Jeanne Whitefeather, 62, and Donald Lantz, 63, are accused of using five children for “forced labor” on their farm.

The discovery of the reported abuse came to light last October and the couple was taken into custody.

Whitefeather appeared in court for a preliminary hearing late last year regarding the child neglect case.

Deputies said they found two children locked in a shed after using forced entry into the couple’s barn following up on a welfare check that was called into them.

Deputy H.K. Burdette responded to the October 2023 call and described the awful conditions where the children were found.

“One of them responded and said ‘Ma’am, we are not able to open the door from the inside,’ " she said. “I was repulsed, for the lack of a better term. As soon as the door was open, the heat from inside hit us. The smell made my eyes water. It was terrible without running water, circulating air, or beds.”

According to NBC News, the couple is facing dozens of charges including human trafficking, child neglect, and forced labor after their adopted five Black children were forced to do labor and live in deplorable conditions.

“What these children were going through ... it is frankly horrifying and despicable; there is no other way to describe it,” Kanawha County Assistant Prosecutor Debra Rusnak said.

Whitefeather admitted to deputies that the children were left in the shed but stated that “they like it.”

Deputies said at the couple’s main residence, they located another small child who was locked inside and alone. That child was in an unprotected loft, approximately 15 feet high.

According to the Kanawha County Sheriff’s Office, the family had moved to West Virginia last year from Washington state with all five adopted children being home-schooled.

Officials said the children are currently all safe while Whitefeather and Lantz have pleaded not guilty to the charges they are facing.

The couple is being held on $500,000 bonds as they await their trial that is scheduled for Sept. 9.

Southwest father-daughter duo fly together for the first time as pilots

A father-daughter made it a family affair when taking to the skies together as Southwest Airlines pilots for the first time. (Southwest Airlines)

A father and daughter recently took to the skies for the first time together as Southwest Airlines pilots.

New Southwest Airlines First Officer Mackenzie Rennhack said she always knew she wanted to be a pilot.

When she was a little girl, Rennhack would dress up like her dad, Captain Michael Rennhack, according to Southwest Airlines.

She was then gifted a “discovery flight,” a short introductory flight for those who might be interested in earning their pilot’s license one day, and that’s when Mackenzie Rennhack knew she had to fly.

Mackenzie Rennhack took her passion to Arizona State University, where she participated in the University Pathway of the Southwest Airlines Destination 225° Pilot Pathways Program.

Southwest Airlines said the family’s story came full circle last month when she joined her father in the cockpit for their first flight together.

Mackenzie Rennhack was also joined by her mother, brother, and her fiance for the flight with her dad.

“Welcome aboard, First Officer Mackenzie; we’re so glad you’re here!” representatives with Southwest Airlines shared.