Andrey_Popov/Shutterstock Key Takeaways Instead of bringing checks to a bank branch or ATM, you can remotely deposit checks at most banks by taking a photo with your smartphone. These encrypted digital transactions are typically both safe and convenient. Still, you should take proper safety measures to avoid fraud, including…
DenisTangneyJr/Getty Images Key takeaways VA loans offer zero-down mortgage options for eligible veterans, service members and qualifying surviving spouses. To qualify, borrowers must obtain a Certificate of Eligibility (COE), live in the purchased home and meet lender underwriting standards. The VA mandates property appraisals, while lenders may also require inspections.…
Have you ever had a free trial that turned into a paid subscription without your knowledge? Or had trouble canceling a service you no longer wanted? As the subscription economy continues to grow, it’s an increasingly common problem. Have a question about credit cards? E-mail me at [email protected] and I’d…
Key takeaways Recoverable depreciation is only applicable for replacement cost value (RCV) policies and allows policyholders to recoup the difference between the actual cash value (ACV) and RCV, after providing proof of replacement. ACV + recoverable depreciation = RCV Insurance companies may use recoverable depreciation to avoid overpaying for items…
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A perfect storm is brewing for millions of federal student loan borrowers, who may experience dramatic increases in their monthly…
As the Biden administration exits Washington, President-elect Donald Trump inherits a federal student loan system that looks much different than…
Republican lawmakers in Congress are circulating a number of proposals to cut federal spending as part of a massive bill…
Wildfires in southern California have burned at least 47,000 acres in the Los Angeles area—the largest blaze, the Palisades Fire,…
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An annuity is a financial product designed to provide a steady income stream, often during retirement. While annuities can serve as a reliable paycheck replacement, the way your annuity pays out is just as important as the decision to purchase one. We’ll explore how annuity…
Dept Managmnt
Key takeaways A balance transfer fee is what credit card issuers charge when you transfer debt, usually credit card debt, to another credit…
Banking
No matter how often bank regulators, international standard setters, rating agencies, or financial reform advocates warn banks that climate change is serious, the…
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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Credit Sesame discusses the proposed CFBP rule on medical debt and whether it can ever come to fruition. The Consumer Financial Protection Bureau (CFPB) has approved a rule banning reporting agencies from including medical debt on credit reports. As a result, that debt would no longer directly affect people’s credit…
Delmaine Donson/Getty Images Most Americans carry a combination of revolving and installment debt during their financial lifetimes. The journey often starts with a revolving credit card, but it doesn’t end there. The ubiquitous nature of credit cards is hard to understate. According to Bankrate’s Credit Card Debt Survey data, 50…
Key takeaways The major advantage of credit-building products is the potential to improve or establish your credit score. Higher rates and restrictions on how and when you receive funds are common drawbacks of credit-builder loans. Your local bank or credit union may offer small-dollar loans at much lower rates than…
Key takeaways You are considered personally liable with recourse loans if you default. Mortgages and auto loans are often recourse loans, though this may differ between lenders. Lenders may seize personal assets not listed in the loan agreement in addition to any collateral. This downside may be offset by lower…
Images by GettyImages; Illustration by Hunter Newton/Bankrate Index funds are one of the most popular types of investments because of their simplicity, low cost and diversification benefits. In general, index funds seek to replicate the performance of an underlying index comprised of stocks or bonds, which means they aren’t managed…
valiantsin suprunovich/Getty Images Key takeaways A covenant serves as a written contract between two parties, like a lender and borrower. If that covenant is broken, it is known as a breach of covenant and can result in a lawsuit. There are a few primary types of covenants, including positive or…
Key takeaways Prepaid tuition plans allow you to lock in future in-state tuition for your child at today’s tuition costs. Like other types of 529 plans, you may receive a tax benefit as a deduction or credit for prepaying tuition. However, school choices are limited, and you can only use…
Key takeways The Delta SkyMiles® Gold American Express Card is a solid option for frequent Delta customers, but the annual fee might be a bit steep for some. This card earns 2X miles at U.S. supermarkets, at restaurants (including takeout and delivery in the U.S.) and on…
Credit: Images by GettyImages; Illustration by Jessa Lizama/Bankrate Key takeaways An IRA is an individual retirement arrangement that is tax-advantaged and is designed for use during retirement. The funds from a traditional IRA can be cashed out and moved to a 529 account, but you’ll pay a 10 percent penalty…
Charday Penn/Getty Images Key takeaways The U.S. Bank Visa® Platinum Card offers an attractive 0 percent introductory APR for 21 billing cycles on both balance transfers and new purchases. This card also offers cellphone protection benefits but does not come with a rewards program. To fully maximize the benefits of…
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