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Key takeaways Access to credit is tightening for all consumers, but particularly for consumers with subprime credit scores of 699 or lower. Both new and used vehicle prices remain high, and approvals for subprime borrowers have declined since the first quarter of 2025. Pre-tariff inventory is declining, and vehicles manufactured…
Key takeaways Leasing an electric vehicle (EV) allows you to test out the driving experience without committing to full ownership. A lease will often have a lower monthly payment than an auto loan, and some leasing companies will offer an upfront discount that covers the federal tax rebate. Buying an…
To pay off holiday credit card debt fast, you should prioritize high-interest debt using the “Avalanche Method.” In addition, increase your payment frequency to weekly/bi-weekly instead of monthly and immediately apply financial windfalls like tax refunds to your principal. Combining these steps with a strict 2026 budget and professional credit…
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The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
Historically Black colleges and universities are on the frontlines of the One Big Beautiful Bill Act’s new limits on parent…
The big new fees JPMorgan Chase is planning to charge some financial technology companies may well trickle down to consumers,…
With artificial intelligence beginning to eat away at many white-collar entry-level jobs, and the unemployment rate for recent college graduates…
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Luis Alvarez/GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways There is no minimum credit score required to buy a car, but most lenders have minimum requirements for financing. Most borrowers need a FICO score of at least 661 to get a competitive rate on an auto…
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What Is the 4 Gift Rule for Christmas? A Financial Safety Net What the 4-gift rule for Christmas provides is a simple guide…
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OBSERVATIONS FROM THE FINTECH SNARK TANKBankers wants to discuss AI strategy. They’re excited about chatbots, machine learning models, generative AI tools, and AI…
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Rolf Bruderer/Getty Images Key takeaways Gap insurance covers the difference between your claim payout and your remaining loan or lease balance if your car is stolen or totaled in a covered claim. Gap insurance is typically less expensive when purchased as a policy endorsement through your insurance company rather than…
Yellow Dog Productions/ Getty Images; Illustration by Austin Courregé/Bankrate You’ve picked out your new car at the dealership and qualified for a car loan, but before you can sign on the dotted line and drive away, the dealer says you need full coverage car insurance. Full coverage car insurance typically…
Driving under the influence of alcohol or drugs is one of the single most expensive mistakes you can make on the road. If you’re charged with a DUI, tickets and fines are only the start of your financial challenges — but the total cost of a DUI can add up…
For years, Americans have heard this mantra: There isn’t enough housing in the United States. The ongoing shortage explains why affordability is such a challenge, and why so many Americans are spending their 30s as renters rather than homeowners. The reality has grown a bit more complicated. As the housing…
This past Thanksgiving weekend saw a record-breaking 203 million shoppers, surpassing the 197 million in 2024, according to the National Retail Federation’s Annual Consumer Survey. Americans are gearing up to do more holiday shopping ahead of the holidays. In a world where consumerism often overshadows sentiment, consumers are looking for…
Faced with sticky inflation and a job market that’s losing steam, many Americans are feeling rattled these days. And when it comes to the year ahead, 32% think their personal finances will worsen in 2026, Bankrate’s recent Financial Outlook Survey found — the highest level of pessimism since 2018, when…
Robo-advisors automate the investing process for you, making it simple to invest in a diversified portfolio of assets — and they cost much less than a typical financial advisor. It’s little wonder that many investors have turned to them, and robo-advisors now manage hundreds of billions of dollars. What a robo-advisor does…
Key takeaways The Federal Deposit Insurance Corp. (FDIC) protects your money if your bank fails. Deposits are insured for up to $250,000 per depositor, per FDIC-insured bank, per ownership category. FDIC insurance covers traditional bank deposit products such as checking and savings accounts. In the event of a bank failure,…
You can use money from a health savings account (HSA) to pay for COBRA health insurance, allowing you to cover premiums with tax-free withdrawals. COBRA premiums qualify as medical expenses under HSA rules, which can make an HSA useful for maintaining coverage after leaving a job. Before using these funds,…
Cavan Images/Getty Images Key takeaways It can be intimidating to start building credit without a credit history, but there are several good credit card options available. Interest rates, annual fees, security deposits and potential rewards are all factors to consider before making a decision. Some top options for first-time credit…
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