Individual bank account bonuses and rewards programs come and go. But it’s basically a given that dozens of online banks (and brick-and-mortar banks and credit unions) offer enticements to new and longtime account holders at any given time. The same is true for opportunities to earn high yields (high-interest payouts) and generous rewards on other … Read more
At a Glance The Consumer Financial Bureau has fined Wells Fargo $3.7 billion for repeated legal violations. These violations include misapplying loan payments, charging incorrect interest and fees, and wrongfully foreclosing on homes and repossessing vehicles. This is just the latest in a long series of scandals for the bank over the past decade. On … Read more
If you travel regularly, you should have at least one travel rewards credit card in your wallet. The more you travel, the more specialized — and generous — that card needs to be. I’ve had several travel credit cards over the years. Most have been general-purpose cards like the Capital One Venture X rewards card, … Read more
Quick Look Home equity is how much of your home you own based on how much you’ve paid off. You can borrow against your home equity. But borrowing against your home equity isn’t always the right move. A cute little house with a white picket fence is a lot more romantic than the portion of … Read more
Quick Look The Fed raised interest rates by 50 basis points this week. Economists expect a smaller 25-basis-point hike on Feb. 1, 2023. Interest rates on credit cards and mortgages will continue to increase as a result. Savings account yields could increase as well. The Fed hopes to stop hiking rates in Q1 or Q2 … Read more
A certificate of deposit, or CD, is an excellent place to park cash you don’t need right away. It’s insured by the federal government, it usually pays more than a standard savings account, and its yield (interest rate) is guaranteed for the entire term. That rate guarantee is important because CD rates can be volatile … Read more
Being in debt sucks. Believe me, I know. There was a point when I found myself in way more credit card debt than I’d like to admit as a personal finance expert. My husband’s chronic illness flared up, and suddenly we were facing mounting medical bills at the same time he had to stop working. … Read more
The Marriott hospitality family is big. It has more than 7,000 hotel and resort properties worldwide, many of which don’t have “Marriott” in the name. I only travel a few times each year, but more often than not, I find myself staying at one without really meaning to. Which means, at least on paper, I’m … Read more
If you’re like the average person, you probably only use your bank for a handful of things, like cashing paychecks, withdrawing money, and mobile banking. But it offers a plethora of services, some of which you may not even be aware of. Get the most out of your bank by reviewing the standard services most … Read more
Most of us don’t keep our money under our mattresses. We keep it in a bank, where we trust it will be safe until we need it. This trust is the reason banks stay in business. If enough people lose that trust, it can set off a series of events known as a bank run. … Read more