CONSUMER CATCH-UP: USPS, FedEx release holiday shipping dates, millennial wealth a fraction of baby boomers'

SAN FRANCISCO (KGO) -- Here are the shipping deadlines to get your package in before the holidays

It may seem like the days before Halloween is too early to be thinking about holiday shopping, but this year, it's better to plan ahead.

Several shipping agencies have released their "must ship by" schedules so that consumers can get their packages to their destinations before Christmas and the winter holidays. With the novel coronavirus pandemic already squeezing shipping companies due to increased online shopping, consumers need to pay extra attention to shipping times.

The United States Postal Service notes that it cannot absolutely guarantee delivery by December 25, but that the following deadlines give customers the best chance at making it in time:

Nov. 6 - APO/FPO/DPO (all ZIP Codes) USPS Retail Ground service
Dec. 9 - APO/FPO/DPO (ZIP Code 093 only) Priority Mail and First-Class Mail
Dec. 11 - APO/FPO/DPO (all other ZIP Codes) Priority Mail and First-Class Mail services
Dec. 15 - USPS Retail Ground service
Dec. 18 - APO/FPO/DPO (except ZIP Code 093) USPS Priority Mail Express service
Dec. 18 - First-Class Mail service (including greeting cards)
Dec. 18 - First-class packages (up to 15.99 ounces)
Dec. 19 - Priority Mail service
Dec. 23 - Priority Mail Express service

The USPS warns that starting December 7, the service will see a marked increase in customer traffic, with the week of December 14-21 being the "busiest mailing, shipping and delivery week."

Likewise, FedEx has released their own calendar of deadlines.

Dec. 9 - FedEx SmartPost
Dec. 15 - FedEx Home Delivery, FedEx Ground
Dec. 21 - FedEx Express Saver, FedEx 3Day Freight
Dec. 22 - FedEx 2Day, FedEx 2Day A.M., FedEx 2Day Freight
Dec. 23 - FedEx First Overnight, FedEx Priority Overnight, FedEx Standard Overnight, FedEx Extra Hours, FedEx 1Day Freight
Dec. 25 - FedEx SameDay, FedEx SameDay City Priority, FedEx SameDay City Direct

More Americans willing to open store credit cards this holiday season

More Americans this year are planning on opening store credit cards to get them through the holiday shopping season.

Store credit cards are known for being having easier approvals, but higher APR rates, and in fact 56% of people who have opened cards said they regretted doing so.

Still, CompareCards performed their annual survey to explore consumer attitude around the store-specific cards. They found that 44% of Americans said they were "at least somewhat likely to apply for a store card during the holiday shopping season," up from 32% in 2019 and 24% in 2018. Gen Xers were the most likely to apply for a card, as were parents of children under 18, those who lost their jobs or were furloughed this year, and men (as compared to women).

CompareCards also noted that while APRs are still high, the average is down to 24.24%, compared to 25.41%, mostly due to the Federal Reserve slashing interest rates.

Millennials control the least wealth of all generations

Reports that millennials are worse off financially than their baby boomer parents are corroborated by new data from the U.S. Federal Reserve, that shows that millennials only control 4.6% of the country's wealth.

The Fed found that millennials controlled 4.6% of U.S. wealth in the first half of 2020, with baby boomers controlling 53%, Gen X controlling 25%, and the silent generation controlling 17%.

Most notable is the fact that when the baby boomers were around the same age as millennials are today, they controlled 21% of the wealth at that time, almost five times more. It denotes a generational wealth inequality that experts say is being made worse by the coronavirus pandemic.



Take a look at more stories and videos by Michael Finney and 7 On Your Side.

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