admin A bad credit score hurts you in many ways. It makes it harder to get approved for a loan, rent an apartment, and get a job. You pay more interest on loans you do get. Insurance is pricier. It can put a strain on your relationships. Not to mention it just feels crappy. Whether your … Read more
Some scams are easy to spot. I like to think if I connected with The Tinder Swindler on a dating app, I’d realize something was up the first time the so-called heir to a diamond fortune hit me up for money. Other scams are a bit harder to detect. If Frank Abagnale, Jr. was as … Read more
Quick Look A benchmark interest rate is an interest rate that determines the amount of other interest rates. Two important benchmarks are the federal funds rate set by the Federal Reserve and the prime rate set by banks. Higher benchmark rates mean a higher cost of borrowing money. If at any point in the last … Read more
The tax resolution industry has a reputation for sketchy, even predatory behavior. By the time you’re tens of thousands of dollars in debt to the IRS, you’re willing to believe pie-in-the-sky promises of fast, painless fixes to wipe out most or all of what you owe. I’ve spent the better part of a decade covering … Read more
Most entry-level credit cards are boring and bare-bones. If they earn rewards at all, the rate is usually low, like a flat 1% on all purchases. The Credit One Platinum X5 Visa credit card might be an entry level credit card, but it’s hardly boring. Though designed for applicants with fair credit, it earns a … Read more
Whenever I travel abroad, I carry at least one credit card that doesn’t charge foreign transaction fees (FTFs) — the surcharges issuers often impose to cover the additional cost of processing international purchases. I haven’t kept a precise tally of how much I’ve saved by using credit cards that waive foreign transaction fees, but it’s definitely … Read more
Quick Look Some loans charge you a penalty to pay off a loan early. Prepayment penalties are only legal on certain types of loans. It’s possible to avoid prepayment penalties. George’s beloved Aunt Azalea just died, leaving him a cash windfall large enough to pay off his house. But his wise friend William warns George … Read more
Americans’ collective credit card debt balance hit $930 billion in Q3 2022. That’s a $43 billion jump from the previous quarter. The average cardholder now has more than $6,000 in credit card debt, closing in on 2019’s all-time high. But our debt burden isn’t equally shared. Most Americans have no credit card debt at all. … Read more
A stop payment order is a request to cancel a check so it can’t be cashed. You might need to stop payment on a check because: You lose a check or your checkbook You suspect a check was stolen You mailed a check to the wrong address You made an error on the check (e.g., … Read more
Your rent is due in a week, and you don’t want to miss the deadline. You want to send the payment now, while it’s still fresh in your mind. But you won’t have the money to cover the payment until closer to the due date. So you put a check in the mail today, but … Read more