Quick Highlights Begin by pinpointing your core banking priorities: checking, savings, CDs, or niche financial services. Digital-only banks often dish out fatter APYs but trail in physical branch presence. Dodge banks loaded with needless fees — average overdraft charges hover around $26.77, yet plenty of institutions provide fee-free alternatives. Explore both traditional banks and credit… Read More »
Key Insights Opting for voluntary repossession means you hand back your vehicle willingly instead of waiting for the lender to snatch it. Despite sidestepping some fees, your credit score still takes a hit for up to seven years whether repossession is voluntary or forced. If your car sells for less than what’s owed, you could… Read More »
Key Insights to Keep in Mind Shutting down a credit account might dent your credit rating by trimming your credit history and bumping up your credit utilization ratio. Choices for managing outdated cards include downgrading, upgrading to unsecured versions, or leaving the card active for infrequent purchases. Expired debit and credit cards can be safely… Read More »
Essential Insights at a Glimpse The Rule of 78 applies exclusively to loans with durations shorter than 61 months. Borrowers end up shouldering a heavier portion of interest in the earlier months if this method is used. This interest computation method is uncommon today, as several states have prohibited its use. Some lenders sneak in… Read More »