Edwin Tan/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways A charge-off is when a lender writes off your account as a loss and closes the account for further use. You are still legally responsible for the balance that is charged off. The lender may transfer the debt to a…
AfricaImages/Getty Images Key takeaways When you cosign for a loan, you are equally responsible for paying it off and committing to repay the loan if the primary borrower defaults. Although you are responsible for the debt, you will have no ownership stake in the asset, if there is one. If…
The best cash back business credit cards earn bonus rewards for business spending. Many come with no annual fee and offer generous introductory offers. These cards can also build business credit while offering perks like business tools, travel insurance and consumer protections. Business credit cards help businesses track spending more…
Goran13/Getty Images; Illustration by Austin Courrege/Bankrate Key takeaways Federal student loans are considered in default after nine months of non-payment. Federal tax refunds can be garnished by the U.S. Department of Education to offset delinquent loan payments. Income-driven repayment plans, refinancing and consolidation offer paths to avoid default and tax…
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While there has been much conversation on not buying from companies with poor diversity, little has been said about investing…
Lifestyle inflation occurs when your expenses increase as you earn more income. It can start subtly—dining at pricier restaurants, upgrading…
Chime, the largest digital bank in America, grew its revenue to $1.7 billion in 2024, an increase of roughly 30%…
Technology has transformed some parts of the daunting homebuying process–making it easier to search and compare properties online, to prepare…
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Personal information about yourself Business formation documents Employer identification number (EIN) Business bank statements Business plan Business or personal credit score Details about existing loans What can a business line of credit be used for? You can use a business line of credit for nearly…
Dept Managmnt
Key takeaways Debt relief is a method of restructuring debt to make it easier for you to pay it back. You can get…
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Apple, FedEx and Oracle all got loans guaranteed by the Small Business Administration. But rules and red tape keep many banks from making…
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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Recent tariffs on imports, combined with ongoing inflation, will likely make the cost of everyday essentials skyrocket. According to research from The Budget Lab at Yale University, tariffs may increase expenses for the typical American household by as much as $3,800 in 2025. If you feel like your paycheck doesn’t stretch as…
If you’re looking for a sign that interest in crypto has gone mainstream, it’s here: Fidelity — the longtime behemoth of retirement plans — now allows customers to invest directly in cryptocurrencies in a Roth IRA, traditional IRA or rollover IRA. We’re not talking about dabbling in crypto-related ETFs (funds…
Key takeaways The concept of vesting sometimes sounds complicated, but it’s actually pretty simple — it refers to how much of your employer’s retirement plan match is actually owned by you. There are several different types of vesting that dictate the vesting period, like immediate vesting, grade vesting and cliff…
There are a multitude of leveraged strategies aimed at retail investors. Most of these follow the performance of major indexes, while others track niche areas of the market like the semiconductor and biotech industries. With leveraged strategies, investors hope to capture additional return using the power of debt. What is…
No one wants to be in trouble with the tax man. If you missed this year’s filing deadline, don’t panic. But also…? Act fast. The deadline for most taxpayers to submit their 2024 tax return was April 15 — except for those who get some extra time to file because…
Target-date funds are an increasingly popular way for Americans to invest for the future. In fact, more than $3.5 trillion was invested in target-date funds at the end of 2023, according to Morningstar. And they’re especially popular in 401(k) plans, helping workers manage their retirement finances. Here’s what a target-date…
Image by GettyImages; Illustration by Bankrate Both home equity loans and home equity lines of credit (HELOCs) are heading down. The average rate on a $30,000 home equity line of credit (HELOC) once again broke through the 8 percent barrier, declining 8 basis points this week to 7.94 percent, according…
Our writers and editors used an in-house natural language generation platform to assist with portions of this article, allowing them to focus on adding information that is uniquely helpful. The article was reviewed, fact-checked and edited by our editorial staff prior to publication. Key takeaways Skimming is a type of…
Key takeaways The only way to know if you can share your credit card legally is to review your credit card agreement. Even if sharing is permitted, it’s not encouraged or suggested. Letting someone use your credit card with permission could put you at risk for unexpected charges and complications…
Key takeaways PayPal offers a simple and secure way to make online purchases as well as send and receive money from family and friends. Customers can use their bank account, credit card, debit card or PayPal balance to send money or make purchases. Sending money domestically is typically free of…
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