Yahoo! logo

doxo’s Hidden Cost of Bill Pay report covered by Yahoo! News

doxo’s 2021 Hidden Costs of Bill Pay report receives detailed coverage in Yahoo!, by journalist Dawn Allcott, incorporating quotes from Jim Kreyenhagen, vice president of marketing and consumer services. Allcott writes:

One reason bill pay costs were so much more this year was an increase in the interest-rate gap between people with high and low credit scores, the report found. Although the Fed lowered the prime interest rate in 2020, resulting in lower interest rates across the board, the difference in credit costs between those with prime and sub-prime credit scores increased substantially, according to the doxo press release.