04.11.25 Clark Answers His Critics on Clark Stinks / Job Market Update

Summary

The Clark Howard Podcast – Episode Summary Episode: April 11, 2025 – "Clark Answers His Critics on Clark Stinks / Job Market Update"

Clark Howard, the renowned money expert and host of The Clark Howard Podcast, delves into two significant segments in this episode: addressing listener criticisms in the "Clark Stinks" segment and providing an insightful update on the current job market. Released on April 11, 2025, this episode offers valuable financial advice while transparently engaging with audience feedback.

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Clark Stinks: Listener Feedback and Clark's Responses

In the "Clark Stinks" segment, Clark Howard invites listeners to voice their critiques and experiences with his financial advice. This interactive portion underscores Clark's commitment to transparency and continuous improvement.

1. Maximizing Credit Card Bonuses

Listener: Linda (00:54 - 04:34)
Linda criticizes Clark's suggestion regarding credit card sign-up bonuses. She points out that Clark recommended utilizing a sign-up bonus from the Chase Sapphire Preferred card for purchasing airline tickets. However, since she already holds this card, additional bonuses are unattainable with the Chase Reserve card. Linda proposes an alternative strategy: obtaining multiple credit cards to maximize sign-up bonuses, potentially earning up to 300,000 points by distributing purchases across several cards.

Notable Quote:
"He could sign up for two cards and his wife, for instance, could sign up for two cards and they could split the $40,000 into four purchases, putting 10k on each card to maximize the points." — Linda (01:54)

Clark's Response:
Clark acknowledges Linda's valid points and shares a personal anecdote about his pets named after wholesale brands, highlighting his appreciation for her insights. He agrees that strategic utilization of multiple credit cards can lead to substantial rewards, emphasizing the importance of monitoring sign-up bonuses and leveraging them effectively.

2. Car Loan Advice Concerns

Listener: Maureen (04:34 - 06:31)
Maureen recounts her experience following Clark's advice to finance a used car purchase of approximately $42,000 and then paying off the loan promptly. She encountered difficulties with online payments, unexpected interest accrual, and delays in title processing, leading her to question the effectiveness of this strategy.

Notable Quote:
"In addition, I was surprised to find that some interest has already accrued in the three weeks or so since the car purchase, given the hassle, been better off just paying the dealer directly." — Maureen (04:34)

Clark's Response:
Clark expresses confusion and concern over Maureen's experience, clarifying his stance on financing used vehicles. He emphasizes the benefit of negotiating without disclosing financing intentions and highlights scenarios where financing can lead to better deals, especially when loans come with no prepayment penalties. Clark admits the possibility of miscommunication and reassures Maureen of his intent to provide beneficial advice.

3. Frequency of Vehicle Oil Changes

Listener: Warren (06:31 - 07:07)
Warren disputes Clark's recommendations on oil change frequency, advocating for changing oil every 5,000 miles regardless of the manufacturer's guidelines. He argues that modern engines require more frequent lubrication due to tighter tolerances and complex components.

Notable Quote:
"Owners should change the thermostat too high, especially if you live in a humid place. Clark, you do not stink, but you need to smell like fresh linen all the time." — Herman (07:52)

Clark's Response:
Clark acknowledges Warren's perspective and shares a mechanic friend's agreement on the matter. He concedes that while manufacturers' schedules are generally sufficient, personal discretion based on individual vehicle use and maintenance preferences is crucial. Clark emphasizes the minimal cost of oil changes compared to potential engine expenses, supporting proactive maintenance.

4. Thermostat Settings and Humidity Control

Listener: Herman (07:52 - 09:21)
Herman critiques Clark's advice on adjusting thermostat settings to save on power bills. He points out that HVAC systems also manage ventilation and humidity, which are critical in humid climates like Georgia. Improper thermostat settings can lead to excessive humidity, causing damage like warped wood floors.

Notable Quote:
"If you live in Georgia where the humidity is high during the summer months... it can cause damage." — Herman (07:52 - 08:41)
"Clark, you do not stink, but you need to smell like fresh linen all the time." — Herman (07:52)

Clark's Response:
Clark appreciates Herman's detailed feedback and discusses advancements in thermostat technology, such as Nest thermostats, which can automatically adjust settings to manage humidity effectively. He admits his oversight and highlights the importance of balancing temperature settings with humidity control to prevent home damage.

5. Roth IRA Income Limits Miscommunication

Listener: JG (10:20 - 10:56)
JG challenges Clark's explanation of Roth IRA income limits, stating that Clark inaccurately referred to high-income thresholds ($250,000 for singles and $500,000 for married couples) instead of the IRS-specified phase-out ranges ($150,000-$165,000 for singles and $236,000-$246,000 for married couples filing jointly).

Notable Quote:
"The correct limits per The IRS website for 2025 the phase out range is between 150,000 and 165,000 for singles and heads of household. For married couples filing jointly, the income phase out ranges between 236,000 and 246,000." — JG (10:20)

Clark's Response:
Clark apologizes for the misstatement and clarifies his intent was to differentiate between traditional and Roth 401(k) plans, which have higher income considerations. He acknowledges the confusion and reiterates the importance of understanding specific retirement account limits, thanking JG for the correction.

6. Transferring 529 Plans to Grandparents

Listener: Barry (12:05 - 13:23)
Barry challenges Clark's assertion that transferring ownership of a 529 plan from a parent to a grandparent is not straightforward. He shares that Ohio's College Advantage offers a simple transfer process, contradicting Clark's earlier statement about potential complications.

Notable Quote:
"I think you're incorrect. My 529 accounts are with Ohio's College Advantage and they have a straightforward form to transfer the ownership." — Barry (12:05)

Clark's Response:
Clark concedes that the ability to transfer 529 plan ownership depends on state-specific rules and acknowledges that some plans, like Ohio's College Advantage, facilitate straightforward transfers. He commends Barry for highlighting this possibility and clarifies that while general FAFSA rules are accommodating, individual institutions might have varied requirements.

7. Parking App Savings vs. Valet Services

Listener: Jennifer (13:23 - 14:22)
Jennifer shares her experience of saving $39 by using a parking app instead of paying a $49 valet fee at a Detroit hotel. She appreciates Clark's advice on seeking cost-effective parking alternatives.

Notable Quote:
"But thanks to your show, we pocketed $39. Keep us on our toes." — Jennifer (13:23)

Clark's Response:
Clark humorously recounts his own limited experience with hotel parking fees, illustrating that while he managed to avoid extra charges, the savings were modest. He acknowledges Jennifer's success and uses it to emphasize the cumulative benefits of small savings, suggesting even minimal amounts invested wisely can grow over time.

8. Cruise Booking and Purchase Protection

Listener: Dan (22:46 - 23:18)
Dan inquires about the value of purchase protection programs offered by cruise lines, which reimburse price drops after booking. He seeks Clark's opinion on whether such programs are worthwhile or if there are better strategies to secure the best deals.

Notable Quote:
"Do you think this type of protection is worth it or is there a better strategy to ensure I get the best deal?" — Dan (22:46)

Clark's Response:
Clark endorses purchase protection programs, especially for frequent cruisers. He underscores the unpredictability of cruise pricing and the advantage of securing the best possible rate by monitoring fare changes. Clark shares a personal anecdote about achieving significant savings through such vigilance, reinforcing the practicality of Dan's approach.

9. Specialty Credit Bureaus and Payday Loans

Listener: Gary (25:06 - 27:25)
Gary discusses an issue where his credit monitoring service alerted him to an attempt to obtain a payday loan in his name. He seeks clarification on the specialized credit bureaus that monitor such activities, which are different from the major bureaus like Experian, Equifax, and TransUnion.

Notable Quote:
"Does Clark know what these three or four firms are? They're not related to Experian, Equifax or Transunion or in Novus, according to this host." — Gary (25:06)

Clark's Response:
Clark acknowledges the existence of numerous specialty credit bureaus that operate beyond the major three. He expresses skepticism about the practicality of freezing credit across all these entities due to sheer volume. Clark advises focusing on freezing credit with the major bureaus and expresses reservations about the efficacy and necessity of monitoring minor bureaus, though he remains open to changing his stance in the future.

10. Scam Alert: Fake Norton Antivirus Charges

Listener: Lisa (27:25 - 28:25)
Lisa recounts her boss's attempt to dispute a fraudulent Norton antivirus charge, which led to a near-fraudulent account reversal request. She emphasizes the importance of verifying the authenticity of contact numbers on statements to prevent further scams.

Notable Quote:
"The lesson. Don't assume an 800 number on your statement is real. Always call the company directly with questions." — Lisa (27:25)

Clark's Response:
Clark highlights the sophistication of modern scams, noting how criminals exploit familiar company names to deceive consumers. He advises listeners to independently verify contact numbers through official company websites rather than relying on those listed on potentially compromised statements. Clark underscores the importance of vigilance to prevent identity theft and financial loss.

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Job Market Update

Following the "Clark Stinks" segment, Clark transitions to discuss the prevailing state of the job market, drawing parallels to the "deep freeze" experienced during the Great Recession (2009-2012).

Key Points:

• Current State:
  Clark describes the present job market as "frozen," albeit not as severely as during the Great Recession. Employers are hesitant to initiate new hiring or expand due to economic uncertainties exacerbated by persistent tariffs and disrupted business confidence.

• Economic Indicators:
  Contrary to optimistic forecasts predicting a robust economy for the year, Clark notes that economists are now contemplating a potential recession with substantial odds, reflecting shifting economic sentiments.

• Job Opportunities:
  Clark advises job seekers to pivot towards smaller, service-oriented businesses and local activities, which are more adaptable and less impacted by large-scale economic disruptions. He suggests that opportunities may also arise within state or local government roles or through entrepreneurial ventures.

• Adaptation and Resilience:
  Emphasizing the resilience of the diverse and large American economy, Clark is optimistic that businesses will adjust to overcome tariff-induced challenges. He encourages flexibility and creativity among workers, such as engaging in gig work, to navigate the temporary economic stagnation.

Notable Quote:
"For the first time in years and years, the job market is not an employee job market anymore. And how long that's going to go on, don't know." — Clark Howard (18:18)
"This is a bump in the road. This is not an unmitigated disaster like what followed the banking scandals." — Clark Howard (18:18)

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Conclusion

In this episode, Clark Howard effectively balances addressing critical listener feedback with providing a comprehensive analysis of the current job market. His openness to criticism and willingness to clarify and adjust his advice demonstrates his dedication to serving his audience's best interests. Simultaneously, his job market update offers essential insights for individuals navigating uncertain economic times, reinforcing his role as a trusted financial advisor committed to empowering his listeners.

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Resources Mentioned:

• For personalized financial advice and resources, visit clark.com and clarkdeals.com.
• Submit your questions at www.clark.com/askclark.

Transcript

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[Ann]

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[Clark Howard]

I'm so glad you're here with us on the Clark Howard Show. You know our miss to serve you with advice and information that empowers you so you make better financial decisions in your life. And Happy Friday, Krista, because it's time for my favorite segment of the week, Clark Stinks. On a less happy note, we're going to end our Friday podcast talking about the frozen job market. I'm going to explain what that means and why we all need to be beefing up our finances right now. But speaking of right now, it's time for Clark Stakes.

[Listener]

I should have never encouraged you to speak.

[Clark Howard]

You almost think I'm pretty stupid. You should be ashamed of yourself. Well, maybe I'm wrong.

[Ann]

Maybe I'm wrong.

[Clark Howard]

Maybe you're right, pal.

[Listener]

Hey Clark, I still love you, but I think you missed the boat on a few points. When someone asked today what the best credit card would be when purchasing $40,000 in airline tickets for a dream vacation, he mentioned he already had the Chase Sapphire Preferred card. You correctly suggested he should utilize a sign up bonus. You mentioned the Chase Reserve, but you cannot get the sign up bonus on the Chase Reserve if you already have an active Chase Preferred card. In addition, if I were in his position, I would sign up for multiple cards to get multiple signup bonuses. This is a great opportunity to earn substantial points. He could sign up for two cards and his wife, for instance, could sign up for two cards and they could split the $40,000 into four purchases, putting 10k on each card to maximize the points. This would probably net him 300,000 points just for the signups alone. Love you in the show and you'll be happy to know, one of my cats is named Costco. Linda.

[Clark Howard]

Linda, thank you. You know, right now, Linda, we have our dog named Kirkland Signature and we used to have a Costco wholesale who's passed on. And Lane says we should maybe make our next dog again Costco Wholesale. See how, how cute would that be if we had Costco wholesale and Kirkland Signature introducing them. When people say what's your dog's names? Okay, enough about that. Linda, I think you're so right for this that if somebody will play the sign up game and the annual fees would not matter on the huge travel cards like this would be an opportunity, just as you said, to get one or two Capital One Venture X cards with very large sign up bonuses or get even the American Express Platinum which has the crazy $700 sign up. But if you're going to get huge value from it, huge numbers of points, it can be so worth it. A friend of mine recently from a sign up bonus on Capital One Venture X was able to fly not business class, but first class to Asia from the United States round trip, all on sign up bonus points.

[Listener]

Wow.

[Clark Howard]

That ticket is retails at over $22,000. Wow.

[Listener]

Was that like they transferred. Did they have to book it through?

[Clark Howard]

No, they transferred it to an airline, transferred the points to one of the Arab airlines. It was Emirates.

[Listener]

Okay. Wow, that's a really nice first class. That's like an apartment.

[Clark Howard]

They were able to take a shower.

[Listener]

Oh my God.

[Clark Howard]

On the plane.

[Listener]

That's insane.

[Clark Howard]

Yeah.

[Listener]

There's something stinky about the experience of following Clark's advice on this one. At the end of February, my husband was sh. Shopping for a used car for around $42,000. Based on Clark's advice, I told him to go ahead and take a loan because he'd be more likely to get a better deal on the car. But then we just pay the loan off at the first due date. But now that the first due date is approaching, I've discovered that I am unable to pay more than $10,000 online, which I did, and 15k over the phone, which I also did. And now I've been instructed to call back to do the payoff in a few days. The lovely woman at the bank's customer service who took my 15k also advised me to be ready for a long wait for the title as it will first be sent by the dealership to the bank. And the dealership will likely not be in a hurry to get that done. In addition, I was surprised to find that some interest has already accrued in the three weeks or so since the car purchase, given the hassle, been better off just paying the dealer directly. I guess we'll never know what price we would have paid for the car under those circumstances. Still, I think we're unlikely to car shop this way ever again. Live and learn. And I still love Clark. Maureen.

[Clark Howard]

Maureen, thank you. I'm. I'm confused. I must have given some bad advice at some point or something like that. I absolutely love for people to pay cash for buying a newer used vehicle and only take out if you have the cash. Only take out a low. First of all, you never tell the dealer when you're negotiating the price of a vehicle that you're going to pay cash because then they calculate that in and charge you more or quote you a higher price. But on the other hand, if you're at the point of getting ready to buy it and they say, well, we can offer you 20 $500 lower price if you finance or something like that, this is substantial amount of money and the loan has no prepayment penalty, then it's to your advantage to go through the hassles.

[Listener]

You're talking about your recommendation on frequency of vehicle oil changes. Smelled a little bit of smoked herring. Never trust the owner's manual for fluid changes. The car companies already believe we are keeping our vehicles too long. So why would we trust an owner's manual from the same company that has a vested interest in our vehicle wearing out more quickly? Cars totally today have much tighter tolerances and complex engine components like cam phasers that are very sensitive and picky about clean lubrication. Owners should change their oil every 5,000 miles. Remember, oil is cheap, engines are expensive. Warren.

[Clark Howard]

Warren. Thank you. Friend of mine who's an auto mechanic says exactly what you said. That you ignore the owner's manual and you change oil every 5,000 miles. Other stuff I've read finds that as long as you stick to the manufacturer's recommended schedule, you'll be fine. The reality is we're. We're talking, you and me both talking about something that the real problem is people who ignore the schedule and don't get oil changes done. But you are right versus the cost of a vehicle. An oil change is a very, very minimal expense. And if you want to do it more often, go for it.

[Listener]

Clark's advice on saving money on power consumption and bills was almost right. He mentioned that one should try to raise the temperature as much as they can tolerate. He missed one key point here. H Vac systems are not only for heating and cooling. The V in H VAC stands for ventilation. Besides, cooling AC helps remove humidity from your home. I live in Georgia where the humidity is high during the summer months. If the AC does not come on in needed intervals as the thermostat is set too high, then the humidity builds up in the house and can cause damage. I've seen warped wood floors at a friend's place as he set his thermostat too high and the AC did not turn on to remove the humidity. So be careful with setting the thermostat too high, especially if you live in a humid place. Clark, you do not stink, but you need to smell like fresh linen all the time. Grateful to you and your team for helping us save our hard earned money, Herman.

[Clark Howard]

All right, so I got. I got to give a follow up to that. So we have advanced nest thermostats, and I'll have them set high, you know, automatically in the summer. And the nest is apparently able to test humidity and it comes on the heat pump, comes on with cool air, and I'm watching my money just go out the door for this reason. So advanced thermostats apparently now override settings if they need to to make sure the humidity content is not too high and does not cause damage in a home.

[Listener]

Clark, Clark, Clark. No amount of masking the scent will ever cover this up. You go to the Google Play store, your payment method gets suspended because Google wants government ID with your actual birthday to prove your age for the laws around the game. Apps. Talk about a scary thought. Pepper spray. An Amazon seller wants your driver's license, an actual birthday because of state laws requiring you to be 18 years old to buy. So the Amazon seller has a feed from the California dmv. Huh? Yikes. All healthcare systems. What's your date of birth? Yes, we're looking at you. Cvs, Rite, et cetera. Give it up, Clark. Resistance is futile.

[Clark Howard]

Oh, what a great point. So what line of defense do we still have? Don't give them your Social Security number. 2. You're giving up your birthday and your Social Security number and your address. Man, you got everything. You've just handed on a silver platter to a hacker to steal your identity.

[Listener]

Clark, you stink like a humid and moldy gym changing room. When providing information on Roth IRA income limits. Most recent example was on the episode when Clark stated, you want the Roth unless you're earning giant money. What's giant money? For a single individual, a quarter million or more a year. For married couple, 500,000 or more a year. The correct limits per The IRS website for 2025 the phase out range is between 150,000 and 165,000 for singles and heads of household. For married couples filing jointly, the income phase out ranges between 236,000 and 246,000.

[Clark Howard]

JG JG, what's happening with me? Have I fallen on my head? I know those limits and if I gave the wrong numbers before referring to huge money, I apologize. But I think what you may be mixing here or I didn't explain well what I was talking about as I recall was when you want to be in a traditional 401k and when you want to be on a Roth version of a 401k, those are the limits I talk about with the much higher amounts that you stated. The quarter million and 500,000 that if you have a 401k at work people tend to default in the traditional 401k and traditional should only apply to people that are mega income earners. The quarter million and 500,000. If I misspoke and somehow was talking about inadvertently about Roth iras and how much you could earn before you weren't eligible, that was my bad because that's not the point I would be trying to make.

[Listener]

You answered my question about moving my 529 plan to my parents, the student's grandparents, so I don't have to report it on the fafsa. However, you quickly said you can't just do that referring to transfer ownership of a 529 from a parent to a grandparent. I think you're incorrect. My 529 accounts are with Ohio's College Advantage and they have a straightforward form to transfer the ownership. You said some schools may ask about 529 plans owned by a grandparent, but I'm willing to take steps for the more likely case when they don't ask. Can you provide more details of why you can't just transfer ownership of the account? Barry?

[Clark Howard]

Barry, it depends on on the rules of the state plan if you can do the procedure. And there are a number of reasons why State 529 would allow a change of ownership. So I just breezed right by that. And your point is so accurate. And the second thing you said is true. Although under general FAFSA rules the 529 money and a grandparents ownership for benefit of a grandchild does not count. An individual school can override that, but again that is rare.

[Listener]

Hi Clark, thanks to you I now stink. We went to Detroit this past weekend and the hotel wanted 49 to Valet park, plus the tips. I hopped on a parking app and found a spot next door for $10. The valet was not too happy when we checked in and told them their services were not required. But thanks to your show, we pocketed $39. Keep us on our toes. Jennifer.

[Clark Howard]

Jennifer. Thank you. Okay, I have a true confession. I was at a hotel in Salt Lake last month, and parking at the hotel was $10. So I went looking because it was in an area that if I walked three blocks, I could park on the street for free. I couldn't find a space available, and I went back and yes, I did it. I pulled in the hotel parking lot and for two nights, had to pay the $10 a night.

[Listener]

That doesn't sound terrible for hotel parking. A long time.

[Clark Howard]

Yeah, that is, well, relatively cheap, I guess, for hotels. But I get the bill from the hotel, and they didn't bill me for the parking.

[Listener]

Oh.

[Clark Howard]

So I go back to the desk because, you know, you get the thing on your phone with your bill, and I'm not charged for parking. I said, I'm sorry, I was in room, blah, blah, blah. And accidentally, you didn't charge me for parking. And she smiled and said, have a nice day.

[Listener]

Oh, that's awesome.

[Clark Howard]

So I. So I fessed up and still got the free parking.

[Listener]

Nice.

[Clark Howard]

So I, you know, sometimes. What's that expression your dad always used sometimes?

[Listener]

Some days you eat the bear, some days the bear eats you.

[Clark Howard]

So think about that. I mean, I take that $20, I put it into an ETF index fund, and how much money am I gonna have in 40 years?

[Listener]

Oh, man.

[Clark Howard]

Well, thank you so much for your posts on Clark Stinks. And I gotta tell you, today I learned something about myself, and that is, sometimes I think I'm speaking clearly about something when clearly I'm not. And I really appreciate it. When I say something, it doesn't ring true, doesn't sound right, or sometimes I'll just be wrong. It can be any of those things. And so when you take the time to post the Clark stinks, it is so helpful to all of us, the listeners, the viewers, to me, because it's no good if the advice and information I give are not spot on. And so I really am grateful when you take the time to post. And coming up ahead, there's a shift in the job market that I want to talk about that we have not seen since 2009. And it's significant and meaningful for your wallet.

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[Clark Howard]

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[Clark Howard]

The hardest time I've ever had in this job, which is not really a job. It's a joy. But it was very, very tough after the banking scandals resulted in the Great Recession. And the term that came into Vogue in 2009 when the job market seized up and we were having big jumps in unemployment was that the job market was frozen. Now today we have moved into perhaps another frozen job market, but not at this moment, anywhere severe like what happened with the Great Recession. What it does mean is that employers are afraid right now to engage in new initiatives. New hiring employers are afraid to expand right now because the economic dislocations of a steady parade of tariffs has so disrupted business confidence that just for now, employers are afraid. And it's why we were this year supposed to have a solid economy. And now economists are debating laying percent odds on us going into a recession. So the job market is not in a deep Freeze, which when it was frozen from 09 to 12, it was in the deep freeze. And if you live through that and you suffered from it, you know what I'm talking about. We're not anywhere like that right now, but we're not in a great space right now. For the first time in years and years, the job market is not an employee job market anymore. And how long that's going to go on, don't know. We're a large economy, we're a diverse economy. And as much as I've made it clear, I don't like tariffs at all. We will eventually adjust because business people do that. They don't want to go out of existence. They adapt and we will adapt. The job market will heal again. But in the meantime, it means you've got to be creative. Where are the opportunities going to be? And number one, the opportunities are going to be in smaller service oriented companies and businesses, not well known brand names because most big enterprises in some way are involved in businesses where they are directly affected by the tariff mania. Small businesses operate in a different environment and they only shrink from a decline in economic activity, I. E. A recession, or as I described recently, a growth recession. So the big names are not where you're going to find the market thawed out. You're going to find that in local activities. You might find it even with a state or local government job is an example that I talked about before. It may even be as it was so much from 2009-12 that that business idea you always had that you get out there and start that. And so this is a bump in the road. This is not an unmitigated disaster like what followed the banking scandals. So this is a rougher patch than we've had in a while, but it is not something that needs to feel hopeless in any way. It just requires you being more flexible, more creative in the meantime. I mean pick up gig work or whatever that brings some money in to pay bills if you're somebody who has been laid off.

[Listener]

Okay, we'll go to questions. Dan in Florida says Clark. I frequently book cruises and have noticed that if I pay in full, I can't get a refund if the price drops. However, some cruise lines offer a purchase protection program that allows me to get the difference back if the price changes. This program comes out at an extra cost, but I'd plan to monitor prices regularly to take advantage of any drops. I did this on my last cruise before it was paid in full and saved $500. Do you think this type of protection is worth it or is there a better strategy to ensure I get the best deal?

[Clark Howard]

Dan, I love this question because having been on just now 30 cruises, I can tell you it's almost impossible to know that whatever you booked is the best price that's going to be available on that ship, on that cabin, on that sailing date, no matter how much they say second passenger, 50% off, free this, free that, free the other. And then later you booked and you paid and then there's a cheaper deal. So yes, I do think that it's worth it to pay a small amount at the time you book for the purchase protection program. And then it's only worth it, though, if you, like a hawk, keep watching to see if the price on those cabins drops. I think about where we once went on a cruise that we booked less than two weeks out. I guess someone had canceled the cabin that we booked. We got such a ridiculous deal and became friendly with somebody on the ship and they said, so what you get that cabin for? Because they knew I was cheap guy. And I said, I'm not sure you really want to know. And they said, yeah, yeah, yeah, we got to know. What did you do? What did you do? What'd you get? And so I told him the price and then I heard a string of expletives one after another because, you know, we got one of those great, great deals that popped up. And so that's the, the danger with booking whenever you book. And that's why I like particularly if you're a planner and you buy way ahead. I like the purchase protection plans if you stay on top of it, though.

[Listener]

Gary in South Carolina says another podcast host explained how his credit monitoring company notified him that someone was trying to take out a payday loan in his name. He was able to stop the attempt, but he was told by the monitoring company that he would have to contact the three or four credit bureaus that only provide credit information for payday loans. Does Clark know what these three or four firms are? They're not related to Experian, Equifax, Transunion or in Novus, according to this host.

[Clark Howard]

Yeah, so there are specialty credit bureaus. I don't know if there's two or three or 400 of them. I mean, it gets really mind numbing. And I thought there are more than three or four that are specialty for people with their subprime or specialty like payday loans. And so you just go crazy trying to set up a credit freeze at every last one of these. But you Start looking at the percent of activity that is with one of these minor credit bureaus. And I have not wanted to get into that game. And so what I've encouraged people to do is absolutely set up the credit freeze where most of the activity is not 100%, but most of it with Equifax, TransUnion and Experian. And even to this day, only a tiny fraction of Americans have done credit freezes with Big Three. So the credit monitoring telling you about the payday loan app in your name. So that is pretty far out there as something that's going to happen that's going to be a mess you're going to have to deal with. I would not feel like credit monitoring you pay for is worth it for the minor activity that happens on these minor bureaus. I may change my opinion on that in someday. But so far I've been happy just having the free credit monitoring that I get from Credit Karma that then they get all my data, but I get all these things in return, including being able to monitor how my score is doing whenever I want.

[Listener]

Lisa in Florida says my boss saw a Norton antivirus charge on her business account. Online charges on your statement have an 800 number associated. So she called that number to dispute the charge from what she thought was Norton. But it was the scammer's number who imposed the charge. This man answered and said he would be glad to return the charge. Just link your account and type in a reversal of the amount. When she did, she mistakenly added too many numbers, making it a return of like $8 million. The guy freaked out, so she knew it wasn't legit. It was Sunday night, so she couldn't undo this. She called me at 8.30am on Monday. He called her back, but she put a recording of a crying baby on her cell phone so he couldn't hear it in the room. She said her grandson was crying and she needed to settle him so she could concentrate. Give 30. Give her 30 minutes and call back. As soon as they hung up, she went to the bank and froze all of her accounts. Here's the lesson. Don't assume an 800 number on your statement is real. Always call the company directly with questions.

[Clark Howard]

Yeah. Okay, so remember when we had the people who were getting ripped off for a tiny amount per month by a scammer and a con artist that had bought 2 million people's credit card numbers, no questions asked from a bank? You remember that? And people were never noticing that they were getting these bogus charges, had just an innocuous explanation on their statements which proved nobody was actually looking at their statements each month. And this is an opposite. Your boss saw this supposed Norton antivirus charge and this is one that I don't know where. I'd already read about these phony Norton charges showing up on people's statements. But know that what you just heard is true, that criminals have been able to penetrate the credit card numbers and be able to post phony charges for who knows what. And before you call a number that is there in the explanation, you need to look up on your own at the company's own website and see what number you call for customer service there. And I can't believe I'm having to say this, but it's just a fact. Because then otherwise you can get scammed twice like almost happened in this case. A lot for us to have to fool with and worry about, right? And remember, just as has happened with the, with the scandals inside the cell phone companies where they just have to have one dishonest person working in one department to be able to steal a lot of information on individuals, steal service, steal new phones, all the rest. And then the bill comes to you. These systems at big corporations are so easily penetrated through Trojan horse strategies of just getting somebody in a department, even as a low level employee who has access to data. And that's why we always have to be on our guard. And I want to thank you for being with us this week. But know that we continue to serve you through the weekend at clark.com and clarkdeals.com and when you're looking for great information on something, I hope that you will go to our newsletters. Subscribe to them. They're free. Who doesn't like that? But the great part of our free newsletters is the information is good, it's well researched and it's there for you. If you want to subscribe to one of our newsletters, go to clark.comnewsletter or clark.com newsletters in either case. And remember, they are free. So have a wonderful weekend and I hope we've empowered you with strategies that will help you save more, spend less, and avoid getting ripped off.