The less you owe on your car loan (the principal), the less you’ll pay in interest. By making an additional payment on the principal, you can shorten your loan and save money. But if you pay extra on your car loan, does it go to the principal automatically? Not always, so be sure to check. … Read more
We may be compensated when you click on product links, such as credit cards, from one or more of our advertising partners. Terms apply to the offers below. See our Advertising Policy for more about our partners, how we make money, and our rating methodology. Opinions and recommendations are ours alone. Since both cards offer … Read more
Summary: Debt can stack up quickly and spiral into financial distress. Payments of mortgages, student loans and outstanding credit card balances (among others) can rapidly run down your finances and send your credit score plummeting if you’re not careful. Here are some tips to help avoid the debt trap and embrace financial freedom. In January … Read more
Any benefit achieved with multiple credit cards ultimately depends on the cardholder and how they manage their finances. Some prefer to live without a credit card to avoid the temptation of spending money they don’t have. Some do well with only one card earning cash back, while others keep two cards serving different purposes—one for … Read more
When you first get started in the world of travel rewards, you may find all sorts of terms that you don’t understand. One such term that comes up again and again is credit card churning. Credit card churning isn’t tossing a bunch of credit cards into a big vat and stirring them around. That wouldn’t … Read more
Having a poor credit history can make many aspects of life more difficult. From getting approved for loans and credit cards to renting an apartment, your credit history plays an important role. In this article, we’ll explain what poor credit is, what causes it, and how it can impact your finances. What is Considered a … Read more
The following is provided for informational purposes only and is not intended as legal advice or credit repair. When it comes to old, unpaid debts, there’s a bit of confusion around the term “statute of limitations.” Specifically, consumers are sometimes under the belief that taking certain actions with old, delinquent debts can prolong the amount … Read more
The daily financial decisions you make can either help or harm your credit. For example, when you pay your loan or credit card bills on time, you establish a positive repayment history that will build your credit. On the other hand, making late payments or carrying large credit card balances can damage your credit. Paying … Read more
“Expert verified” means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Bankrate is always editorially independent. While we adhere to strict , this post may contain references to … Read more
Find out exactly what happens and the next steps that you should take to avoid repossession Taking out a bridging loan can provide a valuable source of short-term financing to help you complete a property transaction or bridge a temporary cash flow gap. However, these loans come with relatively short repayment terms, typically ranging from … Read more