Manilla Helps Nearly 50 Percent of Cardholders Avoid Late Fees During Holiday Season, According to New Data From Manilla.com
Free Online and Mobile App Reminder Tool Sends Automated Bill Pay Reminders
December 19, 2012 --
NEW YORK, NY -- (Marketwire) -- 12/19/12 -- New data released today from account management service Manilla.com provides new insights on consumer behavior as it pertains to credit card spending and debt during the holiday season. Manilla is the leading free and secure service that allows consumers to manage their bills and other personal accounts on desktop, tablet and mobile devices.
In November alone, Manilla sent automated email and SMS text reminders to 43 percent of its active customers, alerting them that their credit card bills were almost overdue, according to Manilla reports. With credit card companies charging up to $25 for late fees, according to the Consumer Financial Protection Bureau, Manilla is proud to have helped its customers avoid paying nearly $5 million in potential charges.
The percentage of reminders that Manilla sent to retail store credit card holders was even higher, with 50 percent of cardholders receiving bill pay reminders.
"With the increase in spending, the holidays are the most important time of year to make sure your finances and accounts are in order and to avoid costly late fees," said Jim Schinella, CEO of Manilla. "Manilla provides its customers with automated email and mobile text reminders when a bill is about to become overdue, allowing them to take action before they're faced with a late fee or a negative impact to their credit score. This feature becomes increasingly helpful when it comes to retail credit card payments, which consumers tend to overlook. The cards may be new to the household and, consequently, not part of the regular bill management routine. This anomaly occurs most often during the holiday season, when consumers open the cards specifically to take advantage of discounts and rewards."
The anonymous Manilla reports also show that not all states in America are equal in terms of bill-paying and credit habits. Manilla customers in Alaska, Minnesota, Florida and Nebraska were among those who held the largest credit card balances on average, while Manilla customers in Mississippi, Montana and Texas held the lowest average credit card balances.
Manilla's platform provides convenient, secure online access to all household accounts and services for more than 3,500 businesses. The free service helps consumers manage all of their household accounts, including financial accounts, utilities, subscriptions, daily deals and travel rewards programs, all through Manilla.com or via the Manilla Android or iOS mobile apps.
Consumers can use Manilla to securely pay bills online, set reminders and custom alerts, track spending, sign into accounts with one password, and store unlimited documents online, among other features.
Manilla organizes and simplifies people's lives by providing one secure access point to all household accounts and services. The free service helps consumers manage their household accounts, including financial accounts, utilities, subscriptions, daily deals, and travel rewards programs, all through Manilla.com. Consumers can also use all of the Manilla features on the go by using Manilla's 4+ star customer-rated Android and iOS mobile apps. Under a single password, Manilla gives customers an automated, organized view of all of their account information, text and email reminders to pay bills, renew expiring subscriptions, and manage soon-to-expire daily deals, all with unlimited storage and seamless document retrieval.
Manilla is a company incubated within and backed by Hearst Corporation. Manilla is the recipient of the 2012 Webby Award and People's Voice Award for Best Banking/Bill Pay Service. For more information, please visit www.manilla.com.
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