Key takeaways Usury laws set limits on the amount of interest lenders can charge on loans and are typically set at the state level. There is no federally mandated maximum interest rate for credit cards. For credit cards, the CARD Act offers various protections and provides more…
2025 has seen a rough start for the stock market. By mid-March, the Nasdaq plummeted more than 10 percent from its all-time high, entering what market watchers call a “correction.” The S&P 500 stock index wasn’t far behind, either, though not officially in correction territory. This kind of downdraft…
Flashpop/Getty Images: Illustration by Issiah Davis/Bankrate Key takeaways You can get a loan for a vacation home from a private lender. There are no government-backed loans for vacation homes. Qualifying for a vacation home loan is typically harder than qualifying to buy a primary residence, with stricter debt-to-income ratio, credit…
Key Takeaways APY stands for Annual Percentage Yield, which tells you how much interest you can expect to earn over one year. The APY offers a complete story of an account’s earning potential by using the interest rate and the compounding frequency. APY should be easy to find: The federal…
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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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dima_sidelnikov/Getty Images Key takeaways The top credit card reward programs partner with select airlines and hotels, so you can transfer points and miles from your card directly to your favorite loyalty programs. Occasionally, you can earn bonuses for transferring points and miles from a bank…
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Key takeaways Social Security benefits are generally protected from creditors, but exceptions exist for federal debts, child support and legal judgments. The IRS…
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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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Key takeaways Balance transfer checks are a way to transfer credit card balances from one issuer to another with a lower interest rate. These checks may come with fees and may not offer the same benefits as balance transfer credit cards, so read the fine print to understand all the…
Key takeaways Not paying your secured credit card bill won’t land you in jail, but it definitely damages your credit score and may forfeit your security deposit. If you’re struggling to pay your secured credit card bill on time, it’s best to act quickly. Start by calling your card issuer…
Image by GettyImages; Illustration by Bankrate You’ll owe federal taxes, and probably state taxes, too, on most of your income. But there are some sources that Uncle Sam won’t touch. Keep in mind, too, that there are nine states that don’t tax your income. Here are eight types of income…
Credit Sesame’s personal finance news roundup for March 8, 2025. Stories, news, politics, and events impacting personal finance during the past week. February 2025 job growth sub-parPCE index still elevatedAutomakers warn of steep price hikes due to tariffsGender pay gap narrows a littleMortgage rates fall again for seventh weekUS productivity…
Key takeaways Many lenders offer no-closing-cost mortgages, meaning you don’t need to pay the closing costs upfront when you buy a new home. Instead, closing costs are rolled into the loan balance or compensated for in the form of a higher interest rate. On the plus side, no-closing cost mortgages…
Key takeaways Experts debate the impact of a diminished CFPB, with some saying the responsibility of consumer financial protection could shift to state governments. Some consumer credit protections, such as medical debt reporting and buy now, pay later (BNPL) safety nets, may be scaled back or eliminated with new CFPB…
Key takeaways The benefits of debt consolidation include saving money on interest, paying off debt more quickly and streamlining your finances. There are many options to consolidate debt, including balance transfer credit cards, home equity loans, debt consolidation loans and peer-to-peer loans. To choose the best product, assess your credit…
Key takeaways It is possible to have multiple personal loans as long as you have the income and credit score to qualify. Lenders typically limit how many personal loans you can have with them at the same time. Having multiple personal loans could become unaffordable if you experience a sudden…
Key takeaways Installment loans can help improve your credit score over time with regular payments. Missing a payment can cause a dip in your score. If you do not need an installment loan, there are other, less risky ways to build credit. It is possible for installment loans to build…
Car insurance is a necessary expense for every driver — but what you pay for coverage may be very different from your friend or neighbor. That’s because car insurance companies use a complex set of calculations to evaluate the risk each driver presents based on the traits they share with…
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