Banking & Credit Cards
How banks, credit cards, and payment systems work. Covers products, rates, fees, regulations, and what consumers need to know to navigate the banking system.
Latest in Banking & Credit Cards
Most credit-builder cards still cap the late fee near $8, even after a court tossed the federal rule
Consumers who rely on credit-builder cards to establish or repair their credit scores are still seeing late fees near $8 on their monthly statements, even...
Americans reported losing billions to scams that started on social media, the FTC says
Americans reported losing $2.1 billion to scams that started on social media in 2025, according to the Federal Trade Commission. Nearly 30% of people who...
AIC will pay data-breach victims about $50, or up to $5,000 with proof, by July 22
People whose personal data was exposed in the American International College breach can expect payments by July 22, with most receiving roughly $50 and those...
Turning on account alerts for every transaction can catch fraud the same day it happens
Reported fraud losses in the United States hit $12.5 billion in 2024, and federal regulators are now telling consumers that a single settings change on...
Scammers are impersonating the FTC’s own chairman to talk people into emptying their savings
Scammers are calling Americans and claiming to be FTC Chairman Andrew Ferguson, pressuring targets to drain their bank accounts, 401(k) plans, and savings under the...
Opting out of pre-screened credit offers at OptOutPrescreen.com is free and cuts identity-theft risk
Every pre-screened credit card offer that lands in a household mailbox carries a quiet risk: if stolen from the mail, it can give a thief...
A bank CD often auto-renews at a far lower rate unless you act in the grace period
Millions of Americans holding certificates of deposit face a quiet deadline that can cost them hundreds of dollars in lost interest. When a CD matures,...
Federal law gives you 60 days to dispute a credit-card billing error and withhold payment on it
Credit-card holders who spot an unfamiliar charge on their statement have a narrow federal window to act: 60 calendar days from the date the issuer...
Flagstar Bank will pay breach victims about $60, or up to $25,000 with proof, if they file by August 11
Customers whose personal data was exposed in the Flagstar Bank breach can now file claims for roughly $60 each without documenting any losses, or pursue...
A surprise package with a QR code is the FTC’s newest scam — scanning it can hand over your bank logins
The Federal Trade Commission flagged a new breed of fraud that starts with a package nobody ordered. Inside sits a small item and a card...
$50 caps what a stolen debit card can cost you, but only if you report it within two days
Anyone who loses a debit card or has one stolen faces a sharp, time-sensitive choice: report it fast and cap personal losses at $50, or...
A new federal student-loan plan called RAP starts July 1, setting payments by income and family size
Federal student-loan borrowers who take out new loans on or after July 1, 2026, will face a different repayment system. The Repayment Assistance Plan, known...
No real government agency demands payment in gift cards or cryptocurrency
Every major federal law enforcement and tax agency in the United States has now issued the same blunt warning: no legitimate government office will ever...
Imposter scams stayed America’s No. 1 fraud for a ninth year, draining $3.5 billion as fake toll texts spread
American consumers lost $3.5 billion to imposter scams last year, keeping the category at the top of the Federal Trade Commission’s fraud rankings for a...
Most cardholders who simply call and ask for a lower interest rate get one — 84% succeeded this year, cutting their APR by about 6 points
Credit card holders who pick up the phone and ask their issuer for a lower interest rate succeed far more often than most people assume,...
The FBI says Americans over 60 lost $352 million to AI-powered scams that clone voices to fake family emergencies
Older Americans lost $352 million to scams in which criminals used artificial intelligence to clone the voices of family members and stage fake emergencies, according...
Fidelity will pay data-breach victims $100, or up to $5,000 with proof of losses, if they file by July 27
Fidelity Investments is offering affected customers a flat $100 payment, or up to $5,000 for those who can document actual losses, following a data breach...
You can place a free one-year fraud alert on your credit file that forces lenders to verify your identity
A federal law that took effect in September 2018 replaced the old 90-day fraud alert with a free, one-year version, giving any consumer the ability...
Downgrading a card to a no-fee version keeps your credit history intact
Cardholders facing higher annual fees on premium credit cards have a simple defensive move: ask the issuer to switch the account to a no-fee product....
Circle K is paying its data-breach settlement, a flat $50 or up to $2,000 with receipts, to customers who file by September 3
Customers affected by a Circle K data breach can file for a flat $50 payment or up to $2,000 with documented expenses before a September...