The Consumer Financial Protection Bureau (CFPB) is finalizing a rule that limits how much consumers are charged in late fees. The rule caps late fees to 25% of the required payment and ends the automatic inflation adjustment for these charges, according to the CFPB. Credit card companies can still charge late…

If you are going to be spending money anyway, you might as well earn some points when you swipe.  There are several different types of rewards credit cards you can apply for. When thinking about the best one for you, look into your spending habits and pinpoint where the majority…

Many workers are living paycheck-to-paycheck, with about one in three citing debt as one of the main reasons why, according to a PYMNTS study. As of December, 60% of survey respondents reported living paycheck-to-paycheck. This is down slightly from 2022 when 64% of respondents lived paycheck-to-paycheck.Certain income brackets saw different…

Consumers likely paid hefty fees on Valentine’s Day if they bought gifts using credit cards. Swipe fees — fees credit card issuers and issuing banks charge retailers to process debit and credit card transactions — cost consumers an estimated $578 million in higher prices this Valentine’s Day, a Merchant Payments…

For the first time in a decade, average credit scores have decreased slightly to 717, according to data released by FICO. In 2023, average scores sat at 718. This decline is likely due to high interest rates and inflation that are causing consumers to miss more payments and take on…

One of the most important lessons regarding your finances to understand is to preserve and protect your credit score, as it can affect many directions and decisions throughout your life. “Your credit score is one of the most important numbers in your financial life; it goes a long way toward…

Capital One is plowing forward with plans to purchase Discover Financial, but the proposed acquisition is expected to face major pushback from regulators – and whether it actually goes through could depend on who wins the presidential election. Before the ink had time to dry on the press release announcing…

Capital One Financial’s $35.3 billion deal for Discover Financial would create new competition for payments behemoths Visa and Mastercard, potentially helping smoothen the path for regulatory approval, analysts said. The all-stock deal announced on Monday would give Capital One access to Discover’s network of payments processing and settlement services, allowing…

In the wake of Capital One announcing plans to purchase Discover earlier this week, opposing views have already emerged over whether the deal — if it goes through — will be good or bad for consumers. One camp argues that the acquisition would benefit consumers because it combines two major…

Retail and food service purchases hit an estimated $700.3 billion in January 2024, a 0.6% rise from the year before, Census Bureau data shows. Growing purchases, paired with other debt, has helped increase household debt. In Q4 2023, total U.S. household debt increased to $17.5 trillion in Q4 2023, a…