Key takeaways Credit unions typically offer better rates on savings and lower rates on loans compared to traditional banks. Membership is required and may have specific eligibility requirements based on location, employer or affiliation. Your deposits are federally insured up to $250,000, just like at banks, providing the same level…
Key takeaways A home equity line of credit (HELOC) on an investment property is a loan taken out against a piece of real estate that generates income or a financial return. Lenders will consider both the borrower’s creditworthiness and the property’s financials when evaluating an investment property HELOC application. These…
Key takeaways While your home’s value is determined by many factors, some home improvements could help increase its worth. There are multiple ways to pay for upgrades, including cash-out refinancing, a home equity loan or home improvement loan. If you plan to sell your home, it’s important to determine not…
Key takeaways Tapping into home equity carries several risks, including losing the property, the potential to fall into significant debt and the dilution of a valuable asset. The unpredictable nature of the housing market and high interest rates are also reasons not to borrow against a home’s worth. Financial experts…
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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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Images by Getty Images; Illustration by Issiah Davis/Bankrate Key takeaways A money market account is a deposit account that earns interest while providing check-writing and debit card access to your funds. Money market accounts currently earn between 0.47% and 4.00%+ APY, with top accounts offering…
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The decision of which debt to start paying off first is a personal one, but starting with high-interest debt is generally considered the…
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Lawrence Golub, billionaire founder and CEO of private credit firm Golub Capital, emphatically dismissed fears that the rapid growth of private credit, specifically…
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© Marco Bottigelli / Moment / Getty Images Key takeaways The Platinum Card® from American Express offers a lucrative welcome bonus and numerous ways to earn rewards, including through Amex Offers. Cardholders can redeem their points for various items, like travel and gift cards, while also enjoying airport lounge access,…
Key takeaways Avoid taking out a longer or larger personal loan than you need. This will help you to avoid spending more money on interest than is necessary. Shopping around for the best offer will help you to ensure you get the best rate and the lowest fees. Consider your…
Key takeaways Couples who share expenses can consider a joint bank account to track spending but should understand the pros and cons before opening one. Joint savings accounts can be helpful to save for shared goals or a shared emergency fund. There are downsides to joint accounts, such as the…
Key takeaways With debt forgiveness, creditors pardon some or all of your debt. Various types of debt may qualify for forgiveness. Debt forgiveness can offer relief from overwhelming financial burdens, but it does have downsides. Debt forgiveness is only one option for managing difficulties with repayment. Struggling with debt can…
Personalization is a hot topic in the marketing world. This is playing out in the credit card space in multiple ways. Here’s what you need to know, and how you can use this trend to your advantage. Have a question about credit cards? E-mail me at [email protected] and I’d be…
Key takeaways Financial and personal documentation provides lenders with the assurance and confidence you will pay off your loan. When you apply for an auto loan, gather any necessary paperwork, like proof of income and employment, to make sure the process runs smoothly. You will need specific vehicle and insurance…
Key takeaways In a Chapter 7 bankruptcy, creditors can seize certain assets to repay the debts you owe. However, exceptions allow debtors to retain some of their assets (or at least part of the asset’s value). Chapter 13 bankruptcy is more about restructuring debts than forfeiting assets. Under Chapter 13…
Key takeaways The American Express® Business Gold Card and The Business Platinum Card® from American Express let cardholders earn valuable Membership Rewards points in categories common to many businesses. The Amex Business Gold may be a better choice if you plan to use it for everyday business expenses rather than…
Image by Getty Images; Illustration by Bankrate If you’re planning for retirement, one of your key questions is how much you can earn from Social Security — what’s the maximum you can get? As of January 2025, the maximum benefit you can receive at full retirement age is $4,018 per…
Key takeaways Uniformed service members and federal employees can borrow against their retirement plans with a TSP loan. You can borrow a minimum of $1,000. You can borrow a TSP loan for general purposes, and you can use funds to construct or close on a home. TSP loans come with…
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