Getting paid is a great feeling, but a paper check can add an extra step. If you need cash quickly, the right place to go depends on the type of check, whether you have a bank account, and how much you’re willing to pay in fees. Common options include …
Category: Financial Education
If you’re considering borrowing from your 401(k), you’re probably wondering about the interest rate. Will it be cheap? Will it hurt your retirement? The answer is more nuanced than “low rate = good deal.” The interest rate matte…
Income verification is the process of confirming that you actually make the income you list on paperwork for things like loans and leases. If you know what counts as proof of income, the process gets easier. Sending in the right records may help reduce…
If you’ve ever wondered what happens to credit card debt when you die, you’re not alone. It’s a common question, especially during an already difficult time after losing a loved one. Credit card debt usually doesn’t pass directly to family member…
A credit card cash advance is a short-term loan drawn against your credit card’s line of credit. Instead of swiping your card to make a purchase, you withdraw actual cash, either from an ATM, at a bank branch, or through other methods your card i…
Are you paying off student loans or other debt? You might be surprised at how long it takes. Interest capitalization might be to blame. When you know what it is and how it works, you’ll be able to make greater strides toward financial freedom. How does…
Unsecured debt is money you owe that is not backed by collateral. Collateral is an asset, like a house or car, that you pledge to a lender as security for a loan. With unsecured debt, there’s no specific property tied to the balance. The lender a…
A creditor is anyone you owe money to. That includes the obvious ones, such as banks, credit card issuers, mortgage lenders, but also your doctor’s office, your landlord, your electric company, and the friend who lent you $40 last weekend. Federa…
A variable APR is an annual percentage rate that can change over time based on a benchmark interest rate. According to the Consumer Financial Protection Bureau, a variable-rate APR changes with the index interest rate, while a fixed APR does not fluctu…
Many people rely on credit cards for everyday expenses, from groceries to gas to utility bills. But can you pay a car loan with a credit card, too? In some cases, yes, but many lenders don’t accept credit cards directly, and the extra fees involved can…