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Maxing out your credit card happens when your balance reaches your credit limit. Using your entire credit line can lead to financial and credit challenges. If you max out a credit card, aim to make a payment that brings you well under your credit limit. Acting quickly can help you minimize fees and protect your […]
What Happens if You Max Out a Credit Card? Read More »
The times you need a paper check are limited today, so you may no longer keep a physical checkbook handy. However, every once in a while, a payment demands it. You might need checks for a payment to a government agency, a rent deposit or a transaction too large for a card swipe. So how
Where to Order Checks: Best Places Read More »
There are currently more than 250 Black-owned banks and credit unions in America with locations in 28 states, including Washington, D.C. These financial institutions address inequalities in the banking system by providing essential services including savings accounts and loans. Read on for a list of Black-owned banks in each state. History of Black-Owned Banks The
Black-Owned Banks in America: A State-by-State List Read More »
When you name someone as a beneficiary on a financial account, you’re giving them permission to inherit your account assets upon your death. This can make it easier to pass your wealth on to your loved ones after you’re gone. You can choose beneficiaries for life insurance policies, investment accounts and retirement accounts, as well
What You Need to Know About Bank Account Beneficiary Rules Read More »
You might see an inquiry from the IRS on your credit report if the IRS asked you to verify your identity, you owe back taxes or you’re working for the IRS. However, the inquiries will be soft inquiries, which don’t affect your credit scores. Why Is There an IRS Inquiry on My Credit Report? A
Why Is There an Inquiry From the IRS on My Credit Report? Read More »
What does the average person your age have in savings? The answer won’t tell you much about your own financial security, but knowing what others have in the bank might give you an indication of whether you’re keeping up or falling behind. According to the Federal Reserve’s Survey of Consumer Finances (SCF) for 2022 (the
Average Savings by Age: How Americans Compare Read More »
Online banks offer some of the same perks as brick-and-mortar locations. You’ll likely have a customer portal and the ability to manage your accounts virtually. Some online banks offer a robust menu of financial products and services—and interest rates on high-yield savings accounts tend to be higher when compared to traditional banks. But not all
7 Things to Consider Before Switching to an Online Bank Read More »
You can purchase mortgage points when you buy a home or refinance your mortgage. Buying points is the same as prepaying interest on your loan, and lenders will give you a lower interest rate in exchange. The lower rate can decrease your monthly payment and, depending on how long you have the mortgage, might save
What Are Mortgage Points and Should You Buy Them? Read More »
If you’re considering applying for a new credit card, it’s important to weigh the impact on your credit with other benefits, such as promotional interest rates or the opportunity to earn rewards. Applying for a new credit card may lead to a small, temporary dip in your credit score because it typically generates a hard
Does Opening a New Credit Card Improve Your Credit Score? Read More »
