Understanding the difference between cash-back rewards and cash back at a store makes a big difference when you’re choosing which way to pay. Unless you need physical cash, using your rewards credit card is the best option for most purchases. Cash-Back Rewards vs. Cash Back at the Register Earning cash-back rewards is much different from getting cash back at the register with a debit card. Cash-back rewards are earned through the purchases you make on your credit card....

Westend61 /Getty Images Banks don’t issue debit cards for savings accounts; they rarely allow you to write checks for payments and purchases from savings. In a savings account, your money is supposed to be tucked away, safe from spending—intended for some future goal. Savings Accounts Aren’t Designed for Payments Savings accounts aren’t designed or intended for transactions. Instead, they’re meant for long-term storage of money. Federal law used to set a limit of six withdrawals per month from savings accounts....

The Chase Sapphire Preferred gets significant updates to its earning rates, including 5 points per $1 spent on travel purchased through Chase’s online portal. It’ll also feature 3 points per $1 spent on dining (including some delivery services), select streaming services, and online grocery purchases. Currently, cardholders earn 2 points per $1 spent on travel and dining, and 1 point per $1 on everything else. Combined with a new 10% anniversary bonus on all spending, this card now has the potential to be a heavy earner in the Ultimate Rewards program....

The Chase Sapphire Reserve card has gotten a lot of attention since its debut in 2016, but it’s now in the news for a less positive reason: The card’s already steep $450 annual fee has jumped up to $550. Chase confirmed this change on Jan. 8 while announcing a partnership with DoorDash and Lyft, which gives cardholders some new benefits, so there are all sorts of new card details to digest....

With a COLA, your monthly Social Security payment is indexed for a certain measure of inflation. When that tracker of inflation rises, your monthly retirement income will rise with it. This feature sets the Social Security program apart from other defined payout plans, like pension plans, that pay a fixed amount each month with no regard for how high the inflation rate might rise. Inflation indexing protects against the impact of shifts in the value of the dollar and helps retired people afford to stay retired....

Types of Interest To get the correct information, you need to understand exactly how interest is charged, and that depends on the loan in question and the lender’s rules. For example, credit cards often charge interest daily—so it’s worth it to make a payment as soon as possible. Other lenders might calculate interest monthly or annually. This detail is important because you need to use the right numbers for your calculations....

This article will compare gross margin and contribution margin and explain what each metric tells you about a company. What Gross Margin Tells You About a Company Gross margin is a company’s gross profit—or revenue minus the cost of goods sold—divided by its total revenue. Gross margin is synonymous with gross profit margin and represents the percentage of a company’s revenue that’s left over after you account for the cost of sales....

Some companies have many “classes” of preferred stock. Each class has its own traits, voting rights, dividend rights, and other costs or perks. One of the most common classes of preferred stock is known as convertible preferred stock. Here, you’ll learn about some of the situations and scenarios you may run into if you decide to invest in these much less noticed, and discussed, securities, and how to make convertible preferred stock work in your favor....

What should you write in a cover letter for a job at a company where you already work? What’s the best way to frame your credentials to secure a promotion? What to Include in Your Cover Letter A job promotion cover letter should clearly explain your interest in the job and delineate how you are qualified for the position. The letter should also recap the experience you have had, your knowledge of your employer’s current mission and needs, and the progressive growth you have enjoyed within the company....

Out of all the complaints about inaccurate reports the Consumer Financial Protection Bureau sent along to the big three credit bureaus—Equifax, TransUnion, and Experian—just 2% resulted in customers getting relief in 2021, the CFPB said. That was down from 9% in 2020 and 25% in 2019. “America’s credit reporting oligopoly has little incentive to treat consumers fairly when their credit reports have errors,” CFPB Director Rohit Chopra said in a release....

Visa said on Wednesday it now partners with 50 crypto platforms, including Coinbase, Crypto.com, and CoinZoom, on card programs that let users spend their cryptocurrencies at 70 million merchants worldwide. Holders of the credit cards don’t have to do anything special: They just use a crypto-linked card, and Visa will convert the payment into the merchant’s preferred currency. A year ago, these programs didn’t exist in a meaningful way, Visa said in an email....

Before developing a budget, you can declutter your finances by making sure you’re not paying for things you don’t need or want. You can also consolidate your accounts and declutter the ones you do keep, which can help you avoid overspending. Learn more strategies for streamlining your finances to help you develop an effective budget, have greater control over your finances, and save money. Review Your Expenses and Close Accounts One of the first steps in simplifying your budget is reviewing your bank statements and identifying all your expenses....

Causes When consumer demand for goods and services drops, it leads to a reduction in production. This reduction lowers the need for workers, which causes layoffs. Consumers then have less to spend, further causing a loss of revenue; in turn, this causes companies to lay off more workers in attempts to maintain their profit margins. By the time cyclical unemployment starts, economies are generally already in a recession. Businesses generally wait until they’re sure the downturn is severe enough to warrant layoffs before initiating them....

Pattern Day Trading The SEC defines a day trade as any trade that is opened and closed within the same trading day. It can be a buy-to-open and a sell-to-close or a short sale closed by a buy order. If you do four or more day trades within five trading days, the SEC likely considers you a day trader. The only exception to this rule is if the total number of day trades is no more than 6% of your total trades in that timeframe....

Education expenses are legitimate business expenses. But there are still some qualifications that must be met before these expenses are fully deductible to your business. This article looks at four questions: Which of these benefits are deductible as business expenses? Which of these benefits are taxable to employees? How do I report taxable benefits on an employee’s W-2 form? How do I include deductible benefits in my business tax return?...

If you’re a frequent Delta Air Lines flyer or Delta credit card holder, here’s what you should know about earning and redeeming SkyMiles, the rewards miles you can get for your airline loyalty. What Is the Delta Air Lines SkyMiles Program? SkyMiles is the frequent flyer program for Delta Air Lines. SkyMiles members earn miles with each airline purchase and can then use those rewards for flights, seat upgrades, and more....

What Is a Disregarded Entity? A disregarded entity is a business structure other than a corporation that hasn’t elected to be treated as a separate entity for federal tax purposes. The business has just one owner. It must meet all three of these criteria. For tax purposes, the IRS treats the disregarded entity as part of the owner’s tax return. For example, a sole proprietorship isn’t a disregarded entity even though it has only one owner because it’s not a legal entity separate from its owner....

You may wonder if you can drop your insurance for a while, saving the money so you can put it toward repairs instead. But it’s not a great idea to cancel your insurance in most cases, even on a car that no longer runs. Multiple-Car Families You can cancel your insurance on one car if you have more than one auto and they’re all insured on the same policy. You do not have to insure the car that needs repairs if it breaks down, as long as it is not being used....

Your auto and home insurance policies may provide limited protection for a rental truck and your belongings while in transit. But you’ll likely need more coverage. Luckily, U-Haul offers several insurance plans to protect the equipment you rent and your valuable personal belongings. What Is U-Haul Insurance? U-Haul insurance is coverage you can purchase from U-Haul when you rent one of its cargo vans, moving trucks, pickup trucks, trailers, tow dollies, or vans....

The term domestic partner is often used in health insurance to describe who may be covered by a family health policy. Your insurance carrier may also use the term Qualified Domestic Partners (QDP). Set criteria must be met for people to be counted as domestic partners for health insurance or group benefits purposes. Domestic partners must be a couple for insurance purposes. You can’t be married to a third person and be a domestic partner with someone else....