Images by GettyImages; Illustration by Bankrate You just found out that you’re getting a tax refund and are considering using it to make a lump-sum payment toward your credit card debt. Before you do, let’s make sure you are setting yourself up for long-term financial security — not just temporary…
This page was originally published in early 2022 and still contains relevant interview quotes from that time. The rest of the article is regularly updated. Key takeaways Secured credit cards are popular credit building tools, but not everyone opens them for the same reasons or uses them in the same…
A few years ago, I made what seemed like an impossible decision: I was going to pay off $300,000 in debt, including student loans and even my mortgage. No lottery winnings. No inheritance as a first generation Filipino-American millennial. The secret? A simple, repeatable one-hour monthly money routine on the…
Key takeaways Credit card fraud is the most common form of identity theft, according to the Federal Trade Commission (FTC). The four major credit card networks — Visa, Mastercard, American Express and Discover — offer $0 liability protection, AI-powered user authentication analysis, EMV chips and card identification numbers (CIDs or…
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While there has been much conversation on not buying from companies with poor diversity, little has been said about investing…
Lifestyle inflation occurs when your expenses increase as you earn more income. It can start subtly—dining at pricier restaurants, upgrading…
Chime, the largest digital bank in America, grew its revenue to $1.7 billion in 2024, an increase of roughly 30%…
Technology has transformed some parts of the daunting homebuying process–making it easier to search and compare properties online, to prepare…
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Key takeaways Under current law, you do not have to be a U.S. citizen to buy a home in the U.S. The vast majority of non-resident buyers come from Canada, China, Mexico and India. Many mortgage lenders offer conventional and FHA home loans to non-U.S.…
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NBC / Contributor / Getty Images This is part 1 of 2 of Bankrate’s ’90s era lessons miniseries. Stay tuned later this month…
Banking
Apple, FedEx and Oracle all got loans guaranteed by the Small Business Administration. But rules and red tape keep many banks from making…
Credit Cards
Key takeaways Adding authorized users to your business credit card account can make it easier for you to complete purchases and earn rewards…
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Yellow Dog Productions/Getty Images Key takeaways Acceleration clauses, a common feature in mortgage contracts, require that you pay off your entire loan balance immediately in a single lump sum. There are specific conditions that could trigger an acceleration clause, like missing mortgage payments or canceling your homeowners insurance. Contact your…
Underinsured motorist coverage, or UIM, may be one of the least understood types of car insurance, but it’s increasingly important in an era of rising rates and precarious driving. Rising prices can easily leave drivers underinsured — sometimes unknowingly — and this key coverage gives drivers a way to recover…
Thomas Barwick/Getty Images Key takeaways A convertible ARM includes a clause that lets borrowers switch from an adjustable interest rate to a fixed one, usually for a fee. A convertible mortgage allows borrowers to take advantage of the lower interest rates that come with adjustable-rate mortgages and still maintain the option for…
Michael M. Santiago/Getty Images Key takeaways The bid-ask spread is the difference between the highest price a buyer is willing to pay for a security (bid) and the lowest price a seller is willing to accept (ask). Bid-ask spreads can indicate the liquidity of a given security. Bid-ask spreads tend…
Key takeaways Despite their advantages, home equity loans come with risks: You could lose your home if you miss payments, owe more than your home’s worth, and your credit score could suffer. Home equity loans ideally should be used to finance home improvements or consolidate debt at a lower interest…
Easter is an opportunity for families to come together and engage in fun activities that spark imagination and foster connection. Crafting is an excellent way to celebrate the holiday, but trips to the craft store can add up. Here are some affordable Easter crafts that the whole family can enjoy,…
Tariffs could cost the average American household $3,800 in 2025, according to The Budget Lab at Yale University. This estimate comes even as President Trump announced a 90-day pause on tariffs earlier this month, temporarily reducing most tariffs to 10% in the meantime, while maintaining higher rates for countries including…
Key takeaways When your business earns interest in a business savings account, you’ll need to report those earnings on your company’s — and likely your personal — tax return. In addition to tracking your interest earnings, monitor every expense for your business to help lower your tax bill. Your tax…
Key takeaways In North Carolina, full coverage car insurance rates increase an average of 49 percent after a single speeding ticket, the highest of any state. In contrast, New York has the most expensive average rate for car insurance, but drivers only see a 7 percent rate increase on average…
Credit Sesame examines how Trump tariffs may strain household budgets, change credit behavior, and influence your credit score in unexpected ways. The link between Trump tariffs and your credit score At first glance, Trump tariffs and your credit score might seem unrelated. One involves international trade policy, and the other…
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