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Marvel's VFX Artists Are Suffering -- and Starting to Speak Out

Marvel's VFX Artists Are Suffering -- and Starting to Speak Out

Thor: Love and Thunder  director Taika Waititi makes interviews look fun. During the long and often tedious press tour filmmakers endure to promote their latest films, Waititi brought his trademark laid-back goofiness to a video in which he breaks down a scene. Only, this time, it backfired. Almost offhandedly, Waititi questioned whether a character named Korg, a CGI rock creature he also played, looked "real." "Do I need to be more blue?" he asked.

The comment launched headlines. Waititi, the director, appeared to cruelly mock his own film's VFX work -- work painstakingly toiled over across hundreds of hours by visual effects artists. It got worse. At the same time, severalReddit threads surfaced, charting the harsh experiences of effects artists who worked on Marvel projects as far back as 2012.

Chris Hemsworth and Taika Waititi at the Sydney premiere of Thor: Love And Thunder.

Photo by Lisa Maree Williams/Getty Images

"Working on Marvel projects ends up being incredibly stressful, and this is a widely known issue throughout the VFX industry, it's not specific to any one VFX house," a person who worked on Marvel projects and wished to remain anonymous, told CNET via email. Industry standards dictate a strict policy of not speaking to the press.

Marvel and Disney didn't immediately respond to a request for comment.

Visual effects artists are in more demand than ever, servicing abundant productions from Marvel, Warner Bros., Sony and more. VFX studios secure work by placing a bid based on the number of shots a studio requests. Competition can be aggressive. While a low bid might win, the actual workload the shots amount to can vary dramatically.

"You bid on a number of shots and hope that on average they don't end up being too complicated or difficult, or that the client gets too caught up in minor details and keeps sending shots back for more work," said Peter Allen, an animator and VFX artist and former lecturer in film and television production at the University of Melbourne.

The work is contracted to a VFX house at a set price. An effects artist might manage grueling hours to meet hard release dates but work overtime unpaid. If the final product fails to satisfy audience expectations, VFX artists often take the blame.

"As a visual medium, visual effects are among the easiest targets for fans to pick apart, especially if there are leaks or early releases of unfinished shots," Allen said. Cats and Sonic the Hedgehog are recent examples.

The upcoming She-Hulk has already drawn criticism for the CGI look of its hero.

Marvel Studios/Screenshot by CNET

With an avalanche of new projects lined up in the next phases of the Marvel Cinematic Universe -- a seemingly never-ending stream of content -- effects artists have been coming under intensifying strain. Ms. Marvel, She-Hulk and Thor: Love and Thunder are the latest to weather criticism about underwhelming superpower effects.

But now, the artists vital to Marvel's storytelling are speaking out. Sick of bearing the brunt of visual effects criticism, tired of punishing working conditions, VFX artists are demanding change.

Unless the industry can make fundamental improvements, Marvel could have a problem on its hands.

An infamous client

Even before the public Reddit threads, insider stories and viral tweets, Marvel had a reputation for pushing VFX artists to the brink. Forget 38-hour weeks. One source described working 60 to 80. This lasted "multiple months in a row."

The toll was brutal. "I've had to comfort people crying at their desks late at night from the sheer pressure involved, and routinely had colleagues call me having anxiety attacks," the effects artist said. "I've heard personally from many artists that they ask to avoid Marvel shows in their future assignments."

Another VFX artist, who also wished to remain anonymous, described harsh conditions that extended beyond the Marvel machine.

"I have worked on several projects for Marvel and other tentpole films," the effects artist told CNET. "For many years, I did work long hours, mostly unpaid. No longer. At no time do I work for free, nor will I work an all-nighter for a perceived emergency."

Sequences underwent late changes in Doctor Strange in the Multiverse of Madness.

Marvel Studios

One effects artists boils Marvel's problems down to three major issues: a demand to see near-complete work much earlier in the process compared to other clients; high-pressure environments leading to burnout and low morale; and lower budgets squeezing out more experienced, more expensive workers from future Marvel projects.

Even after shots are exhaustively delivered, Marvel is allegedly "infamous" for requesting "tons of different variations" until one earns the green light. It doesn't end there. More changes to a production often come late in the game, potentially weeks out from release, resulting in an endemic practice of working overtime. The latest Doctor Strange flick, for example, underwent late changes to sequences involving VFX.

"We've literally made up entire third acts of a film, a month before release, because the director didn't know what they wanted," one source said about Marvel in general. "Even Marvel's parent Disney is much easier to work with on their live-action films."

Could VFX houses push back? Not if they want to risk financial loss. In 2013, Rhythm & Hues, the acclaimed VFX house that worked on The Lord of the Rings and Life of Pi -- which won the Oscar for best visual effects -- filed for bankruptcy. It was the last major independent VFX studio in Los Angeles. Moving Picture Company, an effects house that worked on Spider-Man: No Way Home, reportedly announced in July that it would be freezing pay rises this year.

Marvel, providing a seemingly endless source of work, is a lucrative client. "Marvel has multiple blockbusters in a row, and studios that displease them risk losing out on tons of work," said one effects artist. "So they don't push back as much as they would with other clients."

The size of Marvel allows it to secure bargain effects work, to "string along" a studio or move on to the next best bidder. Yet, for some, working on Marvel projects is no different from any other big action film. It's about managing expectations.

The VFX studio behind Oscar-winning Life of Pi went bankrupt.

Fox 2000 Pictures

Balance

Not all VFX gigs are an overwhelming slog. Not even with Marvel.

"My experience working on the one Marvel film was pretty much the same as any other film," another artist told CNET. They said that, while the workload was high, the deadlines "were the same as any other action film."

Another VFX artist believes the onus is on the effects houses to stand up for their workers, to "pay overtime" and "manage expectations," both with clients and artists.

"The blame is on the VFX studios, not the client -- Marvel or otherwise."

Yet less established VFX houses might lack the influence to shield artists from the "crazy" schedules Marvel could impose. One solution to this power dynamic has already started to unfold.

A decade ago, visual effects artists were part of one of the "largest non-unionized sectors in showbiz," according to a Variety report. Since then, VFX unions such as the International Alliance of Theatrical Stage Employees have attempted to organize visual effects artists.

"Employees unionizing would dramatically change how VFX houses bid shows because they can't simply dump the poor choices onto their employees," one effects artist said. "It makes sure employees can't be pushed around as easily."

Animation artists, for example, can unionize in their respective workplaces with the help of the Animation Guild. The organization acts as an advocate for its members over wage disputes and more between employees and employers. Major studios such as Dreamworks and Walt Disney Animation Studios -- as well as Marvel Animation -- employ artists covered by the guild.

The time could be right for making unionization happen for effects artists, VFX artist Allen said. "Right now, there's high demand for staff so there is an unusual opportunity for those staff to organize since production companies really need them."

But this solution isn't as easy as snapping one's fingers. Outsourcing, or using ununionized workers, is another way for studios to cut costs. "Many studios will bring in people on work visas with the promise of long-term employment," one effects artist said. The studios then leave the employee "dangling."

Still, signs could be positive for effects artists. Other production workers, including staff in IT and logistics, have been successful in joining the Animation Guild, which "used to be for artists only," Allen says. For VFX professionals, traditionally viewed as craftworkers rather than artists, this could be an "interesting development."

"But individual workplaces have to agree to unionize, it's not an automatic protection for all workers."

Chris Hemsworth as Thor in Thor: Love and Thunder.

Marvel Studios/YouTube

The Marvel effect

One effects artist believes the onus is still on Marvel to enact its own changes. It could come down to greater training for its directors on the VFX process.

"Marvel's directors are often inexperienced with the VFX process, both on set and after," an effects artist said.

If the director happens to prefer longer takes, it can "dramatically" increase the workload on artists, Allen said. Not only are there more frames to create effects for, but the longer the effect is on screen, the more precise they have to be. "Shorter shots mean you can cut a few corners."

The effects artist said Marvel must stop believing "VFX gives [it] infinite room to change things." They said Marvel must work with its directors to reduce the number of iterations in the VFX process. "With training -- with clearer, more 'decisive' visualization provided to directors early in the process -- everyone could be on the same page." 

Then, maybe, no one would have their work come under fire during press tours.

---

Source

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Marvel's VFX Artists Are Suffering -- and Starting to Speak Out

Marvel's VFX Artists Are Suffering -- and Starting to Speak Out

Thor: Love and Thunder  director Taika Waititi makes interviews look fun. During the long and often tedious press tour filmmakers endure to promote their latest films, Waititi brought his trademark laid-back goofiness to a video in which he breaks down a scene. Only, this time, it backfired. Almost offhandedly, Waititi questioned whether a character named Korg, a CGI rock creature he also played, looked "real." "Do I need to be more blue?" he asked.

The comment launched headlines. Waititi, the director, appeared to cruelly mock his own film's VFX work -- work painstakingly toiled over across hundreds of hours by visual effects artists. It got worse. At the same time, severalReddit threads surfaced, charting the harsh experiences of effects artists who worked on Marvel projects as far back as 2012.

Chris Hemsworth and Taika Waititi at the Sydney premiere of Thor: Love And Thunder.

Photo by Lisa Maree Williams/Getty Images

"Working on Marvel projects ends up being incredibly stressful, and this is a widely known issue throughout the VFX industry, it's not specific to any one VFX house," a person who worked on Marvel projects and wished to remain anonymous, told CNET via email. Industry standards dictate a strict policy of not speaking to the press.

Marvel and Disney didn't immediately respond to a request for comment.

Visual effects artists are in more demand than ever, servicing abundant productions from Marvel, Warner Bros., Sony and more. VFX studios secure work by placing a bid based on the number of shots a studio requests. Competition can be aggressive. While a low bid might win, the actual workload the shots amount to can vary dramatically.

"You bid on a number of shots and hope that on average they don't end up being too complicated or difficult, or that the client gets too caught up in minor details and keeps sending shots back for more work," said Peter Allen, an animator and VFX artist and former lecturer in film and television production at the University of Melbourne.

The work is contracted to a VFX house at a set price. An effects artist might manage grueling hours to meet hard release dates but work overtime unpaid. If the final product fails to satisfy audience expectations, VFX artists often take the blame.

"As a visual medium, visual effects are among the easiest targets for fans to pick apart, especially if there are leaks or early releases of unfinished shots," Allen said. Cats and Sonic the Hedgehog are recent examples.

The upcoming She-Hulk has already drawn criticism for the CGI look of its hero.

Marvel Studios/Screenshot by CNET

With an avalanche of new projects lined up in the next phases of the Marvel Cinematic Universe -- a seemingly never-ending stream of content -- effects artists have been coming under intensifying strain. Ms. Marvel, She-Hulk and Thor: Love and Thunder are the latest to weather criticism about underwhelming superpower effects.

But now, the artists vital to Marvel's storytelling are speaking out. Sick of bearing the brunt of visual effects criticism, tired of punishing working conditions, VFX artists are demanding change.

Unless the industry can make fundamental improvements, Marvel could have a problem on its hands.

An infamous client

Even before the public Reddit threads, insider stories and viral tweets, Marvel had a reputation for pushing VFX artists to the brink. Forget 38-hour weeks. One source described working 60 to 80. This lasted "multiple months in a row."

The toll was brutal. "I've had to comfort people crying at their desks late at night from the sheer pressure involved, and routinely had colleagues call me having anxiety attacks," the effects artist said. "I've heard personally from many artists that they ask to avoid Marvel shows in their future assignments."

Another VFX artist, who also wished to remain anonymous, described harsh conditions that extended beyond the Marvel machine.

"I have worked on several projects for Marvel and other tentpole films," the effects artist told CNET. "For many years, I did work long hours, mostly unpaid. No longer. At no time do I work for free, nor will I work an all-nighter for a perceived emergency."

Sequences underwent late changes in Doctor Strange in the Multiverse of Madness.

Marvel Studios

One effects artists boils Marvel's problems down to three major issues: a demand to see near-complete work much earlier in the process compared to other clients; high-pressure environments leading to burnout and low morale; and lower budgets squeezing out more experienced, more expensive workers from future Marvel projects.

Even after shots are exhaustively delivered, Marvel is allegedly "infamous" for requesting "tons of different variations" until one earns the green light. It doesn't end there. More changes to a production often come late in the game, potentially weeks out from release, resulting in an endemic practice of working overtime. The latest Doctor Strange flick, for example, underwent late changes to sequences involving VFX.

"We've literally made up entire third acts of a film, a month before release, because the director didn't know what they wanted," one source said about Marvel in general. "Even Marvel's parent Disney is much easier to work with on their live-action films."

Could VFX houses push back? Not if they want to risk financial loss. In 2013, Rhythm & Hues, the acclaimed VFX house that worked on The Lord of the Rings and Life of Pi -- which won the Oscar for best visual effects -- filed for bankruptcy. It was the last major independent VFX studio in Los Angeles. Moving Picture Company, an effects house that worked on Spider-Man: No Way Home, reportedly announced in July that it would be freezing pay rises this year.

Marvel, providing a seemingly endless source of work, is a lucrative client. "Marvel has multiple blockbusters in a row, and studios that displease them risk losing out on tons of work," said one effects artist. "So they don't push back as much as they would with other clients."

The size of Marvel allows it to secure bargain effects work, to "string along" a studio or move on to the next best bidder. Yet, for some, working on Marvel projects is no different from any other big action film. It's about managing expectations.

The VFX studio behind Oscar-winning Life of Pi went bankrupt.

Fox 2000 Pictures

Balance

Not all VFX gigs are an overwhelming slog. Not even with Marvel.

"My experience working on the one Marvel film was pretty much the same as any other film," another artist told CNET. They said that, while the workload was high, the deadlines "were the same as any other action film."

Another VFX artist believes the onus is on the effects houses to stand up for their workers, to "pay overtime" and "manage expectations," both with clients and artists.

"The blame is on the VFX studios, not the client -- Marvel or otherwise."

Yet less established VFX houses might lack the influence to shield artists from the "crazy" schedules Marvel could impose. One solution to this power dynamic has already started to unfold.

A decade ago, visual effects artists were part of one of the "largest non-unionized sectors in showbiz," according to a Variety report. Since then, VFX unions such as the International Alliance of Theatrical Stage Employees have attempted to organize visual effects artists.

"Employees unionizing would dramatically change how VFX houses bid shows because they can't simply dump the poor choices onto their employees," one effects artist said. "It makes sure employees can't be pushed around as easily."

Animation artists, for example, can unionize in their respective workplaces with the help of the Animation Guild. The organization acts as an advocate for its members over wage disputes and more between employees and employers. Major studios such as Dreamworks and Walt Disney Animation Studios -- as well as Marvel Animation -- employ artists covered by the guild.

The time could be right for making unionization happen for effects artists, VFX artist Allen said. "Right now, there's high demand for staff so there is an unusual opportunity for those staff to organize since production companies really need them."

But this solution isn't as easy as snapping one's fingers. Outsourcing, or using ununionized workers, is another way for studios to cut costs. "Many studios will bring in people on work visas with the promise of long-term employment," one effects artist said. The studios then leave the employee "dangling."

Still, signs could be positive for effects artists. Other production workers, including staff in IT and logistics, have been successful in joining the Animation Guild, which "used to be for artists only," Allen says. For VFX professionals, traditionally viewed as craftworkers rather than artists, this could be an "interesting development."

"But individual workplaces have to agree to unionize, it's not an automatic protection for all workers."

Chris Hemsworth as Thor in Thor: Love and Thunder.

Marvel Studios/YouTube

The Marvel effect

One effects artist believes the onus is still on Marvel to enact its own changes. It could come down to greater training for its directors on the VFX process.

"Marvel's directors are often inexperienced with the VFX process, both on set and after," an effects artist said.

If the director happens to prefer longer takes, it can "dramatically" increase the workload on artists, Allen said. Not only are there more frames to create effects for, but the longer the effect is on screen, the more precise they have to be. "Shorter shots mean you can cut a few corners."

The effects artist said Marvel must stop believing "VFX gives [it] infinite room to change things." They said Marvel must work with its directors to reduce the number of iterations in the VFX process. "With training -- with clearer, more 'decisive' visualization provided to directors early in the process -- everyone could be on the same page." 

Then, maybe, no one would have their work come under fire during press tours.

---

Source

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The Worst Credit Card Mistakes You Should Stop Making

The Worst Credit Card Mistakes You Should Stop Making

There are several important benefits of using a credit card to shop. You can earn rewards, build your credit and take advantage of travel points and perks. But while shopping with a credit card can be convenient, there are also certain risks you need to be aware of.

If you pay a card late or don't pay your balance in full, you can incur fees and extra interest charges that make your purchases more expensive in the long run, especially considering today's rising interest rates, fueled by skyrocketing inflation. You could also wind up jeopardizing your credit score, which could make it harder to buy a house or get a loan.

So what are the biggest mistakes well-meaning people commonly make with their credit cards -- and what can you do to avoid financial pitfalls? I spoke with experts for their suggestions, and identified some of the most dangerous credit card behaviors. For more, learn how to get out of credit card debt and why now is the right time to pay off your credit cards.

Paying your credit card bill late

Missing a payment or making a late payment on a credit card is a major no-no. Colleen McCreary, a consumer financial advocate at Credit Karma, says this is the most common mistake people make with credit cards. Your payment history is a major factor of your credit rating and accounts for more than 30% of your overall score, McCreary said in an email.

A late payment is a one-way ticket to ruining your credit, and the ding on your report won't go away for seven years. Even worse, if your credit card bill remains unpaid, your creditor could sell your debt to a collection agency, which could tank your credit rating.

The best way to avoid late fees is to set a monthly reminder to pay your bill, and at least make the minimum payment. Most credit card companies will also let you set up monthly auto-payments, so you won't skip a beat. If you're worried you may not have enough each month to cover an autopayment, remember you can always set it to pay out the minimum, the full balance or a specified amount.

The credit bureau Experian notes that some credit card issuers may provide a short grace period for late payments, while others will mark your payment late as soon as you miss your due date.

If you do pay your credit card bill on time regularly and accidentally miss one payment, call your bank as soon as possible to see if it will offer one-time forgiveness, provided you pay in full at the time of your call. Your bank might refund your late fee and interest, but it isn't required to do anything.

While some credit card companies may mark your payment late after one day, those late payments are not reported to credit bureaus for 30 days, according to credit reporting company Equifax, If you act quickly to change your issuer's decision to mark your payment late, you could avoid damaging your credit score. If you're unable to pay your bill, you can also ask your issuer if it can create a payment plan for you.

Stop paying your credit card bill late

Sarah Tew/CNET

Maxing out your credit cards

After payment history, the second biggest factor in determining your credit score is the percentage of available credit that you are currently using. Called the "credit utilization ratio," this factor is calculated by dividing the amount you currently owe by your total credit limit, or your maximum borrowing potential.

Maintaining a high balance on your credit card compared to your total credit limit will increase your total percentage of credit used and hurt your credit score.

You usually want to keep your credit utilization ratio under 30% for a good credit score, though less is better. A good rule of thumb is to use 10% of your total credit limit and pay it off each month so you're not carrying a balance. For example, if your credit limit is $5,000, you wouldn't want to borrow more than $1,500 and ideally $500 or less.

If you find your credit card limit is too low -- for example, the amount you want to charge to your card exceeds the total you can charge on a given card -- you can always ask your credit card issuer for an increase.

Maxing out credit cards could also cost you big money if you can't pay off the total by the payment deadline. "The higher your outstanding balance (the amount of money you owe), the more interest you'll pay, which can make it even more difficult to climb out of debt," McCreary said.

Making only the minimum payment on your credit card

Your minimum payment is the lowest amount that your credit card issuer will allow you to pay toward your credit card bill for any given month -- for example, $50. The minimum monthly payment is determined by the balance on your credit card (what you owe at the end of the pay period) and your interest rate. It's generally calculated as either 2 to 4% of your balance, a flat fee or the higher amount between the two. 

Making only minimum payments is one of the most common credit card mistakes, according to Katie Bossler, a quality assurance specialist at GreenPath financial wellness. 

Although making minimum payments on time is still far better than paying late or ignoring your bill, paying only the minimum can cause interest to build, making it much more difficult to pay off your balance completely.

For example, if you have a $2,000 balance with a minimum payment of $50 on a credit card with an APR (annual percentage rate) of 14.55%, it will take 56 months (or almost five years) to pay off your debt, and you'll end up paying a total of $753 in interest. However, if you make a plan to pay the balance off in a year, your payments would be $180, and you'd only pay $161 in interest.

It only gets worse as the APR goes up -- at a relatively high but not unreasonable rate of 25%, a minimum payment of $50 would take 87 months (or a little more than seven years) to pay off a $2,000 debt, with a sizable $2,344 in interest payments. Meanwhile, upping the monthly payments to the same $180 would pay off your debt in 13 months, and cost only $281 in interest.

Here's an example of how making more than minimum payments can save you significant money in interest. 

How minimum payments lead to higher interest

Credit card balance	Annual percentage rate	Monthly payment	Time needed to pay balance	Additional interest paid
$2,000	14.55%	$50	4.7 years	$753
$2,000	14.55%	$180	1 year	$161
$2,000	25%	$50	7.3 years	$2,344
$2,000	25%	$180	1.1 years	$281

The best way to avoid paying any interest at all on your credit cards is to pay off your full balance each month. If you can't do that, Bossler, the quality expert from GreenPath financial advisors, suggests pausing use of the credit card while you're paying it off, and paying more than the minimum to do so.

Taking out a cash advance on your credit card

Withdrawing a cash advance with a credit card is a big mistake. "It's the most expensive way to pay for things," Bossler said. Cash advances are a method of borrowing money from your credit line to put cash in your pocket "now."

Convenient as it may be, a cash advance uses an interest rate that is typically significantly higher than your standard APR. Most cards will also include a transaction fee of 3 to 5%. "This is not the way to go," Bossler said.

If you receive a "convenience check" in the mail from a credit card company, be careful. It could be a cash advance offer that's best tossed in the recycle bin. If you need some extra cash, it might be better to think about starting a side hustle or taking out a personal loan with a lower interest rate. Budgeting apps can also help track your spending, so you can pull back on expenses that can wait.

Chasing credit card rewards with abandon

If you're thinking of opening a new credit card account to get money back on your purchases, you can best manage rewards by considering your lifestyle. Heavy travelers should look for a card with frequent flyer rewards. If you spend a lot of money on groceries or drive your car often, look for cash back rewards for spending at gas stations and grocery stores. 

However, you shouldn't make spending decisions based on receiving rewards. "Credit cards shouldn't be used as a strategy for buying things," Bossler said. Many cards will require a minimum amount of purchases for special rewards, or a welcome bonus to tempt you into spending more than you can afford.

Credit cards with lucrative rewards can also charge higher annual fees, for example, $100 or even $500 a year. If you're not spending enough to earn that annual cost back in rewards, you might consider a card with no annual fee.

Credit card rewards can be a powerful financial tool when used wisely, but you'll need to be careful to avoid running up your balance. Thomas Nitzsche, senior director of Media and Brand at MMI, says he often sees people making the mistake of using credit cards for rewards while ignoring the growing interest on their balance. If you're chasing rewards at the expense of your budget, consider coming up with a plan to pay your balance down instead. 

Your credit score can drop when you cancel your credit cards.

Sarah Tew/CNET

Not paying off big purchases during a 0% APR period

Whether you just opened a 0% APR credit card -- which offers interest-free debt for a specific promotional period -- or a balance transfer card -- a credit card designed to accept debt from other cards -- make sure you read the fine print. Oftentimes, there's a fee to transfer your existing balance, commonly 3% of the balances transferred. Also, the introductory 0% rate only lasts for so long, typically between six and 18 months. That means you've got a limited time to pay off your balance before a higher APR kicks in. (When it does, your monthly interest gets a lot more expensive.)

To create a simple repayment plan, take the amount you owe and divide it by the number of months in your 0% APR promo period. Then pay that amount monthly to completely pay off your balance while you are borrowing without interest. For example, if you buy a $300 TV using a credit card with 0% APR for six months, making $50 monthly payments will eliminate your debt before the no-interest period expires.

Using a 0% intro APR credit card can be a good strategy to pay off your debt or finance a large purchase, but it can be risky, too. While disciplined borrowers can effectively roll balances into new accounts with 0% intro APR, Nitzche says that many people who transfer their credit card balances only make minimum payments, which can result in spiraling debt and damaged credit, leading to a point when they can no longer get approval for new accounts.

Canceling your credit cards

Even if you have paid down your balance on a credit card, there are two big reasons why you shouldn't cancel your account. Closing your account would affect your length of credit history and credit utilization ratio, two important components of your credit score. (Remember, your credit utilization ratio is the percentage of your total available credit lines across all cards you're using.)

If you close an account you're not using, your total available credit line shrinks, making your credit utilization ratio higher.

Canceling older credit cards will also shorten your credit history, leading to a significant drop in your credit score. If you do decide to cancel some of your credit cards, it's best to leave the oldest account open, as well as the one with the highest credit limit to maintain your credit utilization ratio and prevent any damage to your credit score.

It's important to note that with inactivity, credit card issuers may automatically close your account. To avoid this, Nitzche says that it's best to use each of your credit cards once in a while for small purchases.

Applying for too many credit cards

You may have heard this advice before: Don't apply for too many credit cards at once. Each time you apply for a new credit card, your credit score can drop slightly due to a "hard" credit check. 

Hard credit checks require your consent and involve a full credit summary from a credit bureau. "Soft" credit checks occur when you view your credit report or a financial company requests a summary without your consent, and they don't affect your credit score. They're used for purposes such as preapproved credit card offers.

When you authorize lenders to pull your credit history, you'll see a "hard" inquiry on your credit report. According to credit score company MyFICO, a hard pull will lower your credit score by about 5 points. While it will stay on your report for two years, the deduction to your score will usually be eliminated within a year.

Too many hard pulls on your credit in a short amount of time -- for example, applying for five store credit cards in one weekend -- could affect your credit rating more, as multiple inquiries indicate higher risks of insolvency or bankruptcy. Experian suggests waiting at least six months between applying for new lines of credit to avoid lowering your credit score.

Applying for too many credit cards at once can drop your credit score.

Sarah Tew/CNET

Not checking your billing statements regularly

How often do you check your monthly billing statement? It can be an eye opener to see how much money you really charge your credit card, especially if it's routinely more than you bring home each month. 

Spending $20 here and there may not seem like a huge amount, but it can add up quickly. Remember that increasing your credit utilization ratio (your percentage of credit used) will lower your credit score and high balances will cost you more in interest. Plus, how do you know how much you've charged if you aren't tracking your spending?

Tracking your credit card spending isn't the only reason to check your billing statement. You should thoroughly comb through your transactions to make sure there aren't any potentially fraudulent charges you didn't make. The sooner you discover you're a victim of identity fraud, the sooner you can contact your card issuer to dispute the charges and take the necessary steps to secure your credit card account.

For more tips on using credit cards wisely, learn six ways to get the most from your credit card and how to pick the right credit card.

---

Source

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Talkspace Online Therapy Review: Benefits, Cost and Who Should Consider It

Talkspace Online Therapy Review: Benefits, Cost and Who Should Consider It

Since the start of the COVID-19 pandemic, demand for treatment of anxiety and depression has increased exponentially. In a survey conducted by the American Psychological Association, 96% of psychologists polled reported that they were treating patients remotely. The numbers broke down to 64% treating all patients remotely and 32% using a hybrid treatment plan, treating some patients in person and others remotely. 

Online therapy is a great way to take care of your mental health if time, distance or life in general make it difficult to see a therapist in person. Talkspace is an online therapy platform that matches you with a licensed counselor in your state. You can schedule your sessions and meet with your therapist from the comfort of your home.

For this review I considered a number of factors including the services Talkspace offers, its special features, benefits, pricing and therapist qualifications. 

What is Talkspace?

Oren and Roni Frank co-founded Talkspace in 2012. The platform's goal is to provide access to mental health care to those who otherwise do not have access to quality mental health services. 

Through Talkspace, you can connect with therapists with backgrounds and expertise that align best with your needs. These mental health care professionals offer virtual psychology and psychiatry support to individuals, couples and teens through its website and app.  

The platform also offers services for a wide range of mental health needs like anxiety, depression, relationships, trauma, substance abuse, parenting, eating disorders, chronic illness and hardships that the LGBTQ community often faces. 

What makes Talkspace shine is that licensed professionals can prescribe medications through its psychiatric services. A service that its counterparts, such as BetterHelp, have yet to offer. 

Read more: Tips to Find the Right Therapist For You

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How does Talkspace work?

Talkspace's sign-up process is straightforward. You can sign up through its website or app. Here's what subscribing to Talkspace looks like:

1. Answer the assessment: When you click the button to get started, you'll be prompted to answer a few questions about the type of therapy you are looking for, your demographics, lifestyle, physical health and preferences. You'll also create your user account.

2. Choose your plan: Next, you can select which plan you'd like to buy. You can choose from the Messaging therapy plan, Live Plan or the Live plus messaging Plan.

3. Get matched: At this stage, Talkspace will suggest three therapists with experience that match your needs. Here, you can choose which one you'd like to work with. You can expect to get matched within 48 hours of signing up.

4. Start therapy: Once you choose your preferred therapist, they will contact you. Depending on the plan you select, you can schedule weekly or monthly live sessions with your counselor.

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How much does Talkspace cost?

We mentioned that there are three plans available through Talkspace; let's compare pricing for each and what they offer.

Messaging therapy: This plan includes unlimited messaging therapy. You can send text, audio and video messages to your therapist any day, any time. It guarantees daily responses five days a week. You'll pay $69 a week for this plan.

Live therapy: This plan includes four 45-minute live sessions a month. The price for this plan is $99 a week.

Live plus messaging therapy: Get the best of both worlds with live and messaging therapy. It offers unlimited text, audio and video messaging plus four 45-minute live sessions a month. This plan will set you back $129 a week.

You can choose to pay any of these plans monthly, every three months (will save you 10%) or every six months (will save you 20%).

Read more: Best Online Therapy Services 

Does Talkspace take insurance?

In the words of Michael Phelps, "I have really good news for 40 million Americans". In 2020, Talkspace expanded accessible mental health care coverage for millions of Americans via insurance coverage. Major insurance companies like Cigna, Optum, Premera Blue Cross Blue Shield and Humana cover mental health services on Talkspace.

To determine if your insurance policy covers Talkspace, you can check your insurance coverage eligibility through your insurer or on Talkspace's website. 

Does Talkspace offer financial aid?

At the time of writing, I couldn't find any information about financial aid on Talkspace. However, if you have insurance, you might have coverage and may only need to pay a deductible or copay. 

I also found an offer code in the Talkspace app for $100 off your first month with the code SPACE.

Talkspace communication methods

Once you're matched with your therapist, you'll have access to a private room where you can contact them. You can access this room via Talkspace's website or on the app. You can also select your preferred method of communication. 

Video messaging

You can communicate with your counselor through video messages, but it's important to note live video sessions are only available on the Premium and Ultimate plans. Depending on your plan, you can schedule a weekly or monthly live video session with your therapist. If you choose the Plus plan, you can still send video messages to your therapist; it just won't be in real-time.

Voice Message

Much like sending a voice message to a friend through WhatsApp, you can send audio messages to your therapist at any time of day, seven days a week. Even though you can contact your therapist at any time, that doesn't mean they'll respond immediately or every day. You can expect therapists to reply five days a week.

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Text message

If you are most comfortable reaching out via text, this is the best option for you. Just enter the chat room and reach out to your therapist the same way you would reach out to a friend. You can send unlimited text messages at any time of day.

Talkspace treatment methods

When it comes to therapy, there are many approaches you can take. The best one for you will depend on your needs and goals. You can talk to your counselor to see which options are available. 

The most common types of treatments found on Talkspace include:

• Cognitive-behavioral therapy
• Emotion-focused therapy 
• Dialectical behavioral therapy 
  
• Talk therapy
  
• Somatic therapy
  
• Humanistic therapy
  
• Mentalization therapy
  
• Exposure therapy
  
• Psychodynamic therapy
  
• Grief counseling
  

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Talkspace features

Besides unlimited texting and video sessions with your therapist, Talkspace offers some cool features to help you stay on track with your mental health journey.

Progress tracker: Talkspace offers a great way to visualize your progress through its therapy progress tracker. As you start to foster a relationship with your counselor, you can click on "client journey" in the app to view your timeline. You can set goals with your therapist and see how well you are doing.

Mental health tools and resources: If you want to put what you've learned to practice, check out Talkspace's self-help exercises. It offers many resources to help you navigate different situations including stress, anxiety and negative thought patterns. You can also find other useful tools such as breathing exercises for when you're feeling stressed. Most of the exercises are from 1 to 15 minutes long, making them convenient for when you're short on time.

These resources are available to you at any time. You can find them on your dashboard under Therapy Tools. 

Live chat: For those who have plans that include live chat, you can schedule them in advance through your calendar. The live feature allows you to chat in real-time with your therapist through your preferred communication method: text, audio or video. These live sessions have a duration of 30 minutes.

Benefits of Talkspace

Besides providing access to mental health professionals, some other things make Talkspace stand out:

• Access to psychiatric care
  
• If working with a psychiatrist, they can prescribe and manage medication
  
• A vast network of licensed therapists
  
• Many large health insurers cover services offered on Talkspace
  
• Ability to message your therapist at any time
  
• The flexibility of choosing weekly or monthly live sessions
  
• Talkspace will match you with three therapists, and you can choose which one you'd like to work with
  
• If you're unhappy with your therapist, you can change them at any time at no extra cost
  

Disadvantages of Talkspace

There's a lot to like about Talkspace, but there are a few things that you should consider before deciding if it's the right fit for you:

• Medicare and Medicaid don't cover the cost of therapy on Talkspace
  
• No therapy options for children ages 12 and younger
  
• Negative customer reviews about billing and customer service
  
• Similar to other online therapy platforms, therapists on Talkspace can't diagnose mental health disorders
  

Talkspace therapist qualifications

Talkspace therapists are highly skilled and qualified. According to the website, to become a member of the clinical network, all mental health professionals must possess an LCSW, LMFT, LPCC or Ph.D. in Clinical Psychology and must be licensed in the state they practice.

Talkspace verifies all therapists' credentials and runs a background check upon hire. 

Talkspace's privacy policy

When you sign up with Talkspace, you share a lot of personal data, including credit card information, legal name and medical records. You might be wondering, is my information safe?

According to the website, Talkspace may collect, retain, analyze and use any personal information you provide. The company provides a lot of insight into how your information may be used. Although this might sound scary, it's not uncommon for platforms to store and use your data for marketing purposes and to tailor your services.

What's most important is that the information shared with your therapist is safe. When you message your therapist, all of the information is encrypted -- meaning that your messages are only readable to you and your therapist.

To ensure that your medical information remains private, Talkspace is compliant with the Health Insurance Portability and Accountability Act. 

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Talkspace customer reviews

On paper, Talkspace has a lot to offer -- convenient scheduling, online resources and tools and access to qualified therapists. But when it comes to customer reviews, the company falls short in terms of good customer experience. Talkspace holds a 1.3 out of 5 star review on Trustpilot, an independent review platform where consumers can review services and products. 

Most clients have complaints about unauthorized charges, billing issues, subpar customer services and difficulty navigating the app. Other reviewers note that they've had good experiences with therapists, but not with Talkspace as a company.

Is Talkspace right for you?

If you're looking to start taking care of your mental health or need help facing difficult life changes, Talkspace may be a good online therapy option. It offers flexible scheduling and access to a diverse network of licensed therapists. It's also one of the few online therapy platforms that offer psychiatric services and medication prescriptions. 

However, good experiences with Talkspace may be a hit or miss. It does not boast great reviews amongst its customers. Since the platform is subscription-based, you can try it out to see if you are matched with a therapist that aligns with your needs, and if you don't like them, you can either request a change or cancel your membership.

If you have thoughts about hurting yourself, Talkspace is not the appropriate channel. If you have an emergency or are in a life-threatening situation, please contact your local police, the nearest emergency room or call the National Suicide Prevention Lifetime at 1-800-273-8255.

The information contained in this article is for educational and informational purposes only and is not intended as health or medical advice. Always consult a physician or other qualified health provider regarding any questions you may have about a medical condition or health objectives.

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The Worst Credit Card Mistakes You Should Stop Making

The Worst Credit Card Mistakes You Should Stop Making

There are several important benefits of using a credit card to shop. You can earn rewards, build your credit and take advantage of travel points and perks. But while shopping with a credit card can be convenient, there are also certain risks you need to be aware of.

If you pay a card late or don't pay your balance in full, you can incur fees and extra interest charges that make your purchases more expensive in the long run, especially considering today's rising interest rates, fueled by skyrocketing inflation. You could also wind up jeopardizing your credit score, which could make it harder to buy a house or get a loan.

So what are the biggest mistakes well-meaning people commonly make with their credit cards -- and what can you do to avoid financial pitfalls? I spoke with experts for their suggestions, and identified some of the most dangerous credit card behaviors. For more, learn how to get out of credit card debt and why now is the right time to pay off your credit cards.

Paying your credit card bill late

Missing a payment or making a late payment on a credit card is a major no-no. Colleen McCreary, a consumer financial advocate at Credit Karma, says this is the most common mistake people make with credit cards. Your payment history is a major factor of your credit rating and accounts for more than 30% of your overall score, McCreary said in an email.

A late payment is a one-way ticket to ruining your credit, and the ding on your report won't go away for seven years. Even worse, if your credit card bill remains unpaid, your creditor could sell your debt to a collection agency, which could tank your credit rating.

The best way to avoid late fees is to set a monthly reminder to pay your bill, and at least make the minimum payment. Most credit card companies will also let you set up monthly auto-payments, so you won't skip a beat. If you're worried you may not have enough each month to cover an autopayment, remember you can always set it to pay out the minimum, the full balance or a specified amount.

The credit bureau Experian notes that some credit card issuers may provide a short grace period for late payments, while others will mark your payment late as soon as you miss your due date.

If you do pay your credit card bill on time regularly and accidentally miss one payment, call your bank as soon as possible to see if it will offer one-time forgiveness, provided you pay in full at the time of your call. Your bank might refund your late fee and interest, but it isn't required to do anything.

While some credit card companies may mark your payment late after one day, those late payments are not reported to credit bureaus for 30 days, according to credit reporting company Equifax, If you act quickly to change your issuer's decision to mark your payment late, you could avoid damaging your credit score. If you're unable to pay your bill, you can also ask your issuer if it can create a payment plan for you.

Stop paying your credit card bill late

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Maxing out your credit cards

After payment history, the second biggest factor in determining your credit score is the percentage of available credit that you are currently using. Called the "credit utilization ratio," this factor is calculated by dividing the amount you currently owe by your total credit limit, or your maximum borrowing potential.

Maintaining a high balance on your credit card compared to your total credit limit will increase your total percentage of credit used and hurt your credit score.

You usually want to keep your credit utilization ratio under 30% for a good credit score, though less is better. A good rule of thumb is to use 10% of your total credit limit and pay it off each month so you're not carrying a balance. For example, if your credit limit is $5,000, you wouldn't want to borrow more than $1,500 and ideally $500 or less.

If you find your credit card limit is too low -- for example, the amount you want to charge to your card exceeds the total you can charge on a given card -- you can always ask your credit card issuer for an increase.

Maxing out credit cards could also cost you big money if you can't pay off the total by the payment deadline. "The higher your outstanding balance (the amount of money you owe), the more interest you'll pay, which can make it even more difficult to climb out of debt," McCreary said.

Making only the minimum payment on your credit card

Your minimum payment is the lowest amount that your credit card issuer will allow you to pay toward your credit card bill for any given month -- for example, $50. The minimum monthly payment is determined by the balance on your credit card (what you owe at the end of the pay period) and your interest rate. It's generally calculated as either 2 to 4% of your balance, a flat fee or the higher amount between the two. 

Making only minimum payments is one of the most common credit card mistakes, according to Katie Bossler, a quality assurance specialist at GreenPath financial wellness. 

Although making minimum payments on time is still far better than paying late or ignoring your bill, paying only the minimum can cause interest to build, making it much more difficult to pay off your balance completely.

For example, if you have a $2,000 balance with a minimum payment of $50 on a credit card with an APR (annual percentage rate) of 14.55%, it will take 56 months (or almost five years) to pay off your debt, and you'll end up paying a total of $753 in interest. However, if you make a plan to pay the balance off in a year, your payments would be $180, and you'd only pay $161 in interest.

It only gets worse as the APR goes up -- at a relatively high but not unreasonable rate of 25%, a minimum payment of $50 would take 87 months (or a little more than seven years) to pay off a $2,000 debt, with a sizable $2,344 in interest payments. Meanwhile, upping the monthly payments to the same $180 would pay off your debt in 13 months, and cost only $281 in interest.

Here's an example of how making more than minimum payments can save you significant money in interest. 

How minimum payments lead to higher interest

Credit card balance	Annual percentage rate	Monthly payment	Time needed to pay balance	Additional interest paid
$2,000	14.55%	$50	4.7 years	$753
$2,000	14.55%	$180	1 year	$161
$2,000	25%	$50	7.3 years	$2,344
$2,000	25%	$180	1.1 years	$281

The best way to avoid paying any interest at all on your credit cards is to pay off your full balance each month. If you can't do that, Bossler, the quality expert from GreenPath financial advisors, suggests pausing use of the credit card while you're paying it off, and paying more than the minimum to do so.

Taking out a cash advance on your credit card

Withdrawing a cash advance with a credit card is a big mistake. "It's the most expensive way to pay for things," Bossler said. Cash advances are a method of borrowing money from your credit line to put cash in your pocket "now."

Convenient as it may be, a cash advance uses an interest rate that is typically significantly higher than your standard APR. Most cards will also include a transaction fee of 3 to 5%. "This is not the way to go," Bossler said.

If you receive a "convenience check" in the mail from a credit card company, be careful. It could be a cash advance offer that's best tossed in the recycle bin. If you need some extra cash, it might be better to think about starting a side hustle or taking out a personal loan with a lower interest rate. Budgeting apps can also help track your spending, so you can pull back on expenses that can wait.

Chasing credit card rewards with abandon

If you're thinking of opening a new credit card account to get money back on your purchases, you can best manage rewards by considering your lifestyle. Heavy travelers should look for a card with frequent flyer rewards. If you spend a lot of money on groceries or drive your car often, look for cash back rewards for spending at gas stations and grocery stores. 

However, you shouldn't make spending decisions based on receiving rewards. "Credit cards shouldn't be used as a strategy for buying things," Bossler said. Many cards will require a minimum amount of purchases for special rewards, or a welcome bonus to tempt you into spending more than you can afford.

Credit cards with lucrative rewards can also charge higher annual fees, for example, $100 or even $500 a year. If you're not spending enough to earn that annual cost back in rewards, you might consider a card with no annual fee.

Credit card rewards can be a powerful financial tool when used wisely, but you'll need to be careful to avoid running up your balance. Thomas Nitzsche, senior director of Media and Brand at MMI, says he often sees people making the mistake of using credit cards for rewards while ignoring the growing interest on their balance. If you're chasing rewards at the expense of your budget, consider coming up with a plan to pay your balance down instead. 

Your credit score can drop when you cancel your credit cards.

Sarah Tew/CNET

Not paying off big purchases during a 0% APR period

Whether you just opened a 0% APR credit card -- which offers interest-free debt for a specific promotional period -- or a balance transfer card -- a credit card designed to accept debt from other cards -- make sure you read the fine print. Oftentimes, there's a fee to transfer your existing balance, commonly 3% of the balances transferred. Also, the introductory 0% rate only lasts for so long, typically between six and 18 months. That means you've got a limited time to pay off your balance before a higher APR kicks in. (When it does, your monthly interest gets a lot more expensive.)

To create a simple repayment plan, take the amount you owe and divide it by the number of months in your 0% APR promo period. Then pay that amount monthly to completely pay off your balance while you are borrowing without interest. For example, if you buy a $300 TV using a credit card with 0% APR for six months, making $50 monthly payments will eliminate your debt before the no-interest period expires.

Using a 0% intro APR credit card can be a good strategy to pay off your debt or finance a large purchase, but it can be risky, too. While disciplined borrowers can effectively roll balances into new accounts with 0% intro APR, Nitzche says that many people who transfer their credit card balances only make minimum payments, which can result in spiraling debt and damaged credit, leading to a point when they can no longer get approval for new accounts.

Canceling your credit cards

Even if you have paid down your balance on a credit card, there are two big reasons why you shouldn't cancel your account. Closing your account would affect your length of credit history and credit utilization ratio, two important components of your credit score. (Remember, your credit utilization ratio is the percentage of your total available credit lines across all cards you're using.)

If you close an account you're not using, your total available credit line shrinks, making your credit utilization ratio higher.

Canceling older credit cards will also shorten your credit history, leading to a significant drop in your credit score. If you do decide to cancel some of your credit cards, it's best to leave the oldest account open, as well as the one with the highest credit limit to maintain your credit utilization ratio and prevent any damage to your credit score.

It's important to note that with inactivity, credit card issuers may automatically close your account. To avoid this, Nitzche says that it's best to use each of your credit cards once in a while for small purchases.

Applying for too many credit cards

You may have heard this advice before: Don't apply for too many credit cards at once. Each time you apply for a new credit card, your credit score can drop slightly due to a "hard" credit check. 

Hard credit checks require your consent and involve a full credit summary from a credit bureau. "Soft" credit checks occur when you view your credit report or a financial company requests a summary without your consent, and they don't affect your credit score. They're used for purposes such as preapproved credit card offers.

When you authorize lenders to pull your credit history, you'll see a "hard" inquiry on your credit report. According to credit score company MyFICO, a hard pull will lower your credit score by about 5 points. While it will stay on your report for two years, the deduction to your score will usually be eliminated within a year.

Too many hard pulls on your credit in a short amount of time -- for example, applying for five store credit cards in one weekend -- could affect your credit rating more, as multiple inquiries indicate higher risks of insolvency or bankruptcy. Experian suggests waiting at least six months between applying for new lines of credit to avoid lowering your credit score.

Applying for too many credit cards at once can drop your credit score.

Sarah Tew/CNET

Not checking your billing statements regularly

How often do you check your monthly billing statement? It can be an eye opener to see how much money you really charge your credit card, especially if it's routinely more than you bring home each month. 

Spending $20 here and there may not seem like a huge amount, but it can add up quickly. Remember that increasing your credit utilization ratio (your percentage of credit used) will lower your credit score and high balances will cost you more in interest. Plus, how do you know how much you've charged if you aren't tracking your spending?

Tracking your credit card spending isn't the only reason to check your billing statement. You should thoroughly comb through your transactions to make sure there aren't any potentially fraudulent charges you didn't make. The sooner you discover you're a victim of identity fraud, the sooner you can contact your card issuer to dispute the charges and take the necessary steps to secure your credit card account.

For more tips on using credit cards wisely, learn six ways to get the most from your credit card and how to pick the right credit card.

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