News — CreditCards

Editor’s note: At TPG, our top priority is providing our readers with the information needed to make educated decisions about travel and your rewards-earnings strategy. This is not the best time to travel, domestically or internationally, as airlines have cut major parts of their route network. But we are sharing this information to provide value for future travel once coronavirus concerns have subsided. For people new to the loyalty world, one misconception is thinking the only way to earn points and miles is by flying an airline regularly or carrying its travel rewards credit card. You probably aren’t earning the miles...

The typical U.S. household spends about $1,800 a year on clothing. If this statistic leaves you thinking, “That’s not me” — either because the number strikes you as too high or too low — know this: Households with annual incomes below about $70,000 spend much less than the yearly average, according to consumer expenditure data from the Bureau of Labor Statistics. On the other hand, upper-income households tip the scales in the opposite direction. Households reporting annual incomes of $127,000 or more spend about $2,500 a year on clothing. (Photo by Shutterstock) No matter what your income level, clothing purchases likely...