What does FDIC mean?

What does FDIC mean?

FDIC stands for Federal Deposit Insurance Corporation. A bank account that is FDIC-insured means that your money is insured by the federal government, usually up to $250,000. What you should know: If a bank fails and cannot give all of its customers the money in their...
I’m a Student, Can I Open a Bank Account?

I’m a Student, Can I Open a Bank Account?

The answer in most cases is, yes. When looking for a student bank account, make sure you find one that will meet your needs. Here are some things to think about: What kind of fees do they charge if you overdraft, or spend more than you have in your account? Some banks...
How Do I Increase My Credit Score?

How Do I Increase My Credit Score?

Pay your bills on time. Make frequent and consistent payments. Ask for a higher credit limit while keeping your balance the same. This shows you’re not using the full amount you’re approved for, which reflects responsible credit use. Fix errors on your...
Understanding a Credit Report

Understanding a Credit Report

Your credit report helps lenders (like banks and credit card companies) determine how likely you are to pay your monthly payments on time.   A credit report tells lenders: The loans or credit cards you have and how much you still owe. How consistent you are with...
What is a Traditional IRA?

What is a Traditional IRA?

A Traditional IRA is an Individual Retirement Account where you don’t pay taxes on the money until you take it out. Things You Should Know About Traditional IRA’s: Most Traditional IRA’s have rules about how old you have to be and how long you need...