About.com

Are Banks Responsible for Bank Fraud?

Wed, 19 Jun 2013 09:43:49 +0000

It's easy to steal money when everything is electronic. You can just siphon money from somebody else's bank account -- you don't even have to get dressed or leave the house.

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Staggering Facts About Overdraft Fees

Mon, 17 Jun 2013 09:03:48 +0000

Starting in 2010, banks had to get your permission to charge overdraft fees. These fees, which you pay when you try to spend more money than you have in your checking account, were previously an automatic thing -- they came with every checking account whether you wanted them or not. After the law took effect, consumers had to opt-in to overdraft protection programs and the accompanying fees.

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Can You Get a Loan Because of Your Facebook Friends?

Wed, 12 Jun 2013 09:53:09 +0000

In the olden days, lenders and merchants decided whether or not to lend you money (or extend credit) based on your character. The world was a smaller place, and your local shopkeeper knew who you were and whether or not you were likely to pay what you owe. Now, most lending decisions are based on the results of a computer program, which only looks at a few factors in your credit history.

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Getting Married? Talk About Money

Mon, 10 Jun 2013 11:54:49 +0000

Wedding season is in full swing, and that means that some people are joining their finances. Getting married doesn't necessarily mean you have to combine everything, but some expenses and accounts will inevitably end up as "joint" things, and each person's financial situation can play a big part in a marriage.

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Have CDs Lost their Luster?

Tue, 04 Jun 2013 19:09:37 +0000

Using a certificate of deposit (CD) used to be a sure way to higher earnings. By promising to lock your funds up with the bank, you'd get a higher return on your cash.

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$400 Per Year in Overdraft Fees?

Wed, 29 May 2013 17:59:35 +0000

Banks collected $32 billion in overdraft fees, according to a new study from the economic research firm Moebs Services. That's all as a result of consumers spending a little bit more than they have in their checking accounts.

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Steer Clear of Long Term Auto Loans

Fri, 24 May 2013 16:16:43 +0000

It shouldn't be surprising, but it is: auto loans are now available for terms of up to 97 months. Because it's hard to divide into numbers that large, I'll just tell you -- it's a little over 8 years. That means that you can really stretch out your auto loan (possibly for longer than you'll keep a vehicle) and minimize your payments.

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Don't Let Inactive Accounts Get Frozen

Tue, 21 May 2013 21:05:01 +0000

It's not a bad idea to leave (and maybe forget about) a little bit of cash sitting in the bank. That money can grow, and it will be available if something comes up.

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Don't Pay Debit Card Swipe Fees

Wed, 15 May 2013 10:30:57 +0000

When you pay with plastic, retailers have to pay swipe fees. Whether or not they can pass that cost on to you depends on several factors, and some merchants are illegally adding swipe fees to customers' bills.

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Credit Score Confusion Persists

Tue, 14 May 2013 19:19:09 +0000

Consumers continue to learn more about credit scores, but a few common myths continue to cause confusion.

A new study released by the Consumer Federation of America and VantageScore Solutions shows that 40% of people think that their age and marital status affect credit scores. In fact, neither of those characteristics should directly affect your credit score. If you're young, there's a possibility that you have had less time in life to develop a credit history, but even older consumers may have "thin" credit files. Likewise, marital status isn't part of the equation. Sometimes one spouse does all the borrowing, and (depending on whether or not the loans get paid off) that person might have good credit while their spouse has a thin file, but credit scoring models really don't care whether or not you're married.

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