Credit-card debt is expensive even before a missed payment adds fees and credit damage. The average annual rate on bank card accounts that actually incurred interest was 22.15% in the second quarter, while serious delinquencies reached a level last seen fifteen years ago. Those two measures describe different stages of the same squeeze. The 22.15%…

Cashing a settlement check normally costs you something. In most consumer cases the money arrives attached to a release, and taking it closes the file for good. The University of Phoenix payments do not work that way, and the Federal Trade Commission now says so twice on the same page: once for people whose loan-forgiveness…

A graduate-school acceptance letter can now leave a much larger financing gap than the aid award once covered. Beginning July 1, new graduate borrowers generally face a $20,500 annual federal loan limit and a $100,000 aggregate graduate limit, while new Graduate PLUS borrowing is no longer available outside a narrow continuing-student exception. Tuition and living…

Automatic payments have become unusually valuable for eligible federal student-loan borrowers. Enrollment by September 30 can reduce the interest rate by one percentage point through June 30, 2028, instead of the familiar quarter-point discount. The savings can be meaningful on a large balance, but the arrangement works only when the bank account can reliably cover…

Federal debt-collection rules create a specific warning line for phone pressure. A collector is presumed to violate the law by placing more than seven calls within seven consecutive days about one particular debt, or by calling again within seven days after a phone conversation about that debt. The presumption is not a blanket seven-call limit…

A personal line of credit and checking account at the same institution can be connected in a way many borrowers overlook. If the credit line goes unpaid, the bank or credit union may use a contractual right of setoff to take money from the deposit account. The rule depends on the agreement and debt type,…

A credit card’s grace period can turn routine purchases into a short, interest-free loan when the statement balance is paid in full by the due date. Once that protection is lost, a new grocery, gas or online purchase may begin accruing interest from its transaction date. Carrying even a small balance can therefore change the…

A quick phone call may alert a card issuer to a wrong charge, but it does not replace the written notice that preserves federal billing-error rights. The cardholder has no more than 60 days after the issuer sent the statement containing the error to deliver that dispute. Missing the clock can surrender powerful protections even…

A breach notice from Vector Security can now support a reimbursement claim, but the headline cap is not a flat payment for every recipient. The settlement allows documented losses and limited lost time to be claimed together up to $2,000. The filing window closes September 15, and payment remains contingent on the court approving the…

A credit-card issuer generally cannot make a significant account-term change effective tomorrow without warning. Federal rules usually require at least 45 days’ advance notice for major changes such as certain interest-rate or fee increases, a higher minimum payment, or changes to a grace period or interest calculation. The word “generally” is essential. Rewards changes, properly…