Image: Getty Images; Illustration: Bankrate A big drop in HELOC rates in the latest week. The $30,000 home equity line dropped 13 basis points to 7.04%, its lowest level since 2022, according to Bankrate’s national survey of lenders. In contrast, the five-year $30,000 home equity loan was unchanged, holding at…
Key takeaways A reverse mortgage allows homeowners who are (typically) 62 and older to tap their home’s equity for tax-free payments. The loan comes due when you no longer live in the home, either because you move or pass away. To qualify, you must own or have nearly paid off…
Bad financial habits can quietly hold you back, often without you even realizing it. Spring is the perfect time to reset, not just your home, but your finances too. By taking a closer look at your money habits, you can identify what’s not working and start making meaningful changes toward…
Key takeaways The value of airline and hotel rewards can vary dramatically depending on the rewards program and booking details. Credit card rewards programs typically offer more dependable value than airline and hotel rewards programs, plus more redemption flexibility. To see how much value you can get out of your…
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Last year, on the day before Tax Day, my mom was scheduled to fly into Philadelphia International Airport to stay…
The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
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Images by GettyImages; Illustration by Hunter Newton/Bankrate The Federal Reserve doesn’t set mortgage rates outright, but its decisions do play a role in the percentages lenders offer would-be homeowners. And even if the Fed keeps its benchmark rate unchanged, mortgage rates can still fluctuate. Here’s…
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Try to Offer Advice or Support Instead of Criticism While younger generations are often criticized for their lack of financial literacy, getting into…
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For fintech startups, the first five years of the decade have been a roller-coaster ride. At the outset, companies were awash in easy…
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Most drivers only interact with a rental car on vacations or time away — and for many, they can also be a means to getting a vehicle of their own. While rental cars go through many drivers, they also typically have thorough maintenance records and a low price tag. But…
With the costs of college and retirement increasing at breakneck speed, many parents are feeling the need to invest in their children’s futures as early as possible. Common options include 529 plans and custodial IRAs, with a new option emerging in 2026 dubbed “Trump accounts.” Created under the “One Big…
Key takeaways Texas has the highest car loan balance of $7,920. While vehicle expenses vary across the country, drivers can still work to secure a competitive rate by improving their credit and comparing different lenders. Vehicle affordability is still a challenge for many drivers and has resulted in more auto…
Key takeaways There are two main types of student loans: federal and private. Federal student loans are easier to qualify for and have more flexible repayment options than private loans, including far more paths to loan forgiveness. Private student loans may offer lower interest rates with higher loan limits for…
The short answer, while credit cards technically cost more in interest (if balances are carried), Buy Now, Pay Later (BNPL) often costs you more in monthly cash flow and budget flexibility. In most cases, Buy Now, Pay Later (BNPL) plans cost your budget more in the new year than credit…
Key takeaways No-credit-check loans target borrowers with poor credit or limited credit history. These loans often carry sky-high interest rates, sometimes exceeding 100% APR. These loans should be approached with great caution and as a last-resort funding option. Obtaining a loan when you have bad credit can be challenging, as…
Key takeaways The amount you can afford for a car depends on whether you’re buying or leasing — the latter could be much cheaper and let you access more options. Your salary, debt-to-income ratio and credit profile could also affect how large of a car loan you’ll be offered. Be…
Key takeaways Your required minimum distribution (RMD) amount changes each year based on the IRS’s life expectancy calculation for your age. You calculate your RMD by dividing your year-end account value by the estimated remaining years in your lifetime, as per an IRS table. If you miss the RMD deadline,…
Yellow Dog Productions/ Getty Images; Illustration by Austin Courregé/Bankrate You’ve picked out your new car at the dealership and qualified for a car loan, but before you can sign on the dotted line and drive away, the dealer says you need full coverage car insurance. Full coverage car insurance typically…
Driving under the influence of alcohol or drugs is one of the single most expensive mistakes you can make on the road. If you’re charged with a DUI, tickets and fines are only the start of your financial challenges — but the total cost of a DUI can add up…
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