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Nick Clements
Works at MagnifyMoney.com
Attended Stanford University
Lives in New York, NY 10024
209 followers|150,509 views
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Nick Clements

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Revolvers beware: your credit score is not enough for a mortgage. 
Big changes are coming to the U.S. mortgage market. On June 25, Fannie Mae will be introducing new underwriting policies that will impact how millions of Americans qualify for a mortgage. The most meaningful change is the introduction of "trended credit data" that will punish revolvers and reward transactors. If you don't know [...]
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Nick Clements

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4 Ways to manage your student loan burden (and yes, that includes parents!)
The rapid growth in student loan debt is a big challenge facing students, graduates and parents. With more than $1.2 trillion of student loan debt outstanding, presidential candidates are making a lot of promises to help ease the nation's burden. If we believe the campaign rhetoric, we can expect free college [...]
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The risks and rewards of consolidating credit card debt. 
Credit card debt is once again growing in America. The average U.S. household with debt carries $15,762 in credit card debt. The average interest rate is 13.70%, which means American families could pay more than $2,000 of interest over the next year if they make only the minimum payment. One popular [...]
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Since the interest rate on credit cards is usually very high, it takes forever to payoff the credit card debts. It is pretty amazing that adding some little extra payment could help shorten the time significantly and save a lot. Use this great Credit Card Payoff app to find out how fast you can get out of debts. https://play.google.com/store/apps/details?id=com.tsoftone.creditcardpayoff
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Nick Clements

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And the Best Credit Cards of 2016 - read the full guide at MagnifyMoney. 
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Considering a balance transfer? Ask yourself these 4 questions before proceeding. 
Millions of Americans receive balance transfer offers in their mailbox every month. Banks regularly entice people with 0% interest for a fixed period of time if you transfer debt from another credit card or use one of the convenience checks provided. These 0% offers can be excellent deals. But before accepting, make [...]
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Nick Clements

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THE credit score guide. Myths busted, rules explained - all in one place. 
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Nick Clements

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Just because you have an 800 credit score doesn't mean you will automatically get approved by your bank or credit card company. I explain in my first piece for the USA Today. 
Just because you have an 800 credit score doesn’t mean you're golden. Five reasons why your bank might still reject you.
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Nick Clements

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4 Ways to Manage Your Student Loan Burden: You don't have to drown in high payments. 
The rapid growth in student loan debt is a big challenge facing students, graduates and parents. With more than $1.2 trillion of student loan debt outstanding, presidential candidates are making a lot of promises to help ease the nation's burden. If we believe the campaign rhetoric, we can expect free college [...]
1
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Nick Clements

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The risks and rewards of consolidating credit card debt. 
Credit card debt is once again growing in America. The average U.S. household with debt carries $15,762 in credit card debt. The average interest rate is 13.70%, which means American families could pay more than $2,000 of interest over the next year if they make only the minimum payment. One popular [...]
1
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I know. How to get out of debts?
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Nick Clements

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Find the Best Savings Accounts of March 2016 on Forbes. 
Interest rates on savings accounts at traditional banks remain painfully low. Bank of America currently pays 0.01% APY on its Regular Savings Account. The other major banks pay similar interest rates. If you keep $100,000 in an account paying 0.01%, you will earn just $10 of interest in one year, before [...]
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Nick Clements

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Here it is - the Best Credit Cards of 2016. 
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Nick Clements

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Love them or hate them - credit scores still dominate our lives. An excellent score is the key to lower interest rates on loans and lower auto insurance premiums. Make sure you avoid these 4 mistakes that can crush your credit score - at Forbes. 
Credit scores play a large role in our financial lives. FICO, the nation's leading credit score, is used in 90% of credit decisions. If you have a FICO score above 750, your excellent credit rating will help you get the lowest rates on credit cards, loans and even (in most states) [...]
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People
In his circles
188 people
Have him in circles
209 people
Cosenza 2.0's profile photo
Dan Korpman's profile photo
The Finance Wand | Financial Platform's profile photo
Sylvie Dauphin's profile photo
LT FX Trading's profile photo
Christine Meiller's profile photo
Mohamed Elessowy's profile photo
Alan Miller's profile photo
Terry Hill's profile photo
Collections Nick is following
Education
  • Stanford University
    1996 - 2000
Basic Information
Gender
Male
Story
Tagline
I want to help you cut your costs without cutting your lifestyle. My dreams in life: cheaper banking, easier budgeting, more dogs adopted, anything Italian and good conversations with friends.
Introduction
I am the co-founder of MagnifyMoney.com - a website on a mission to make it easy to cut costs without cutting back on your lifestyle.  Interest rates on credit cards are too high.  Fees on bank accounts are too high. We will help you find better deals.  

A 15 year veteran of the banking industry, I am an outspoken expert - fighting for more transparency, greater competition and simpler products.  

I have been married for 8 years and have 2 dogs (rescued from Russia).  My ancestors came from Sicily, and I love anything Italian (the wine, the language, the opera, the food and especially the people).  

You will find me writing about banking, savings, dogs and anything Italian.  
Bragging rights
I have 2 rescue dogs (Goofski and Beatrice) who have lived in Moscow, London and now New York!
Work
Occupation
With nearly 15 years in banking - I am now focused on helping people save money.
Skills
Personal Finance, Credit Cards, Risk Management
Employment
  • MagnifyMoney.com
    Co-founder, 2013 - present
  • Barclaycard
    Managing Director, 2010 - 2013
    Ran Barclaycard UK - the #1 credit card issuer in England.
  • Citigroup
    Director of Risk Management, 2009 - 2010
    Risk Director of Western Europe; Risk Oversight of US Cards Business
  • Brysam Global Partners
    Vice President, 2007 - 2009
    Financial services private equity fund that invested in emerging market banks and credit card companies.
  • Citigroup
    Country Risk Director, 2005 - 2007
    Director of Credit Risk Management for the Russian consumer business.
Places
Map of the places this user has livedMap of the places this user has livedMap of the places this user has lived
Currently
New York, NY 10024
Previously
London SW7 2PE, United Kingdom - Moscow, Russia - Manchester, England - Zurich, Switzerland - Florence, Italy - Laguna Niguel, CA
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