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☆ 7 helpful things to read if you can't make up your mind about high-yield savings
▼ + stars: | 2020-12-03 | by ( Business Insider | ) www.businessinsider.com time to read: +5 min

As people get smarter about their savings, more banks are offering a high-yield savings option. High-yield accounts generally pay rates about 10 times higher than traditional savings accounts. However, did you know that saving large sums in a checking account, or even a traditional savings account, isn't much better? Each of the best high-yield savings accounts is free of monthly maintenance fees, FDIC-insured, and appropriate for modest and super savers alike. High-yield savings accounts and standard savings accounts are more similar than they are different: They're both offered by banks, federally regulated, and liquid.

See Business Insider's picks for the best high-yield savings account »Get the latest tips you need to manage your money — delivered to you biweekly. Apply now A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.8 out of 5 Stars Editor's Rating A tooltip OUR EDITOR'S RATINGS ARE PRIMARILY BASED ON 3 THINGS: SIMPLICITY, AFFORDABILITY, AND VALUE. Note that credit card lenders may use many different variations of credit score models when considering your application. Apply now A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.6 out of 5 Stars Editor's Rating A tooltip OUR EDITOR'S RATINGS ARE PRIMARILY BASED ON 3 THINGS: SIMPLICITY, AFFORDABILITY, AND VALUE. Apply now A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.6 out of 5 Stars Editor's Rating A tooltip OUR EDITOR'S RATINGS ARE PRIMARILY BASED ON 3 THINGS: SIMPLICITY, AFFORDABILITY, AND VALUE.

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Almost all of the top credit cards offer free access to your credit score. If you want to track your credit without paying a monthly fee, get a credit card that offers free credit scores. In some cases, you can even get your free credit score without having a credit card from the issuer offering access to your credit score. 5 of our favorite no-annual-fee credit cards that include access to your credit scoreHere are our favorite credit cards with no annual fee that give you free access to your credit score.

When the COVID-19 pandemic started, my income took a hit and my priorities changed, so my savings goals did as well. While I've recouped some of it, and I'm still able to make ends meet, I've had to majorly adjust my savings goals. Here are the three savings goals I've put on hold in light of the coronavirus pandemic and two savings goals I've created. 3 savings goals I've put on hold1. 2 savings goals I've created1.

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Luckily, I qualified for a balance transfer that allowed me to pay off the balance I accumulated interest-free. I didn't want to break the savings habit I'd finally builtIt took me years to build a habit of putting money away into a savings account each month, and even longer to finally stop tapping into that savings account for every whim that came along. At the time, I had a credit score of 780 and was confident that I could qualify for a balance transfer credit card. This card gave me 15 months to pay off my balance interest-free and also didn't charge a balance transfer fee.

During that time, I relied heavily on credit cards to cover my basic necessities. I could have saved hundreds of dollars by relying primarily on the credit card with the lowest-interest rate. 2. Credit cards with an intro APR can act as an emergency fundSome credit cards come with introductory offers that give you a 0% APR on purchases for a certain period of time. Paying your credit card bill on time is arguably the most important thing you can do to protect your credit. My credit score did take a slight hit due to the high balances I had on a couple of my credit cards.

☆ Bucket-list travel experiences like Singapore Airlines' first-class suite cost thousands of dollars, but they're much more attainable if you earn credit card points
▼ + stars: | 2020-02-20 | by ( Elizabeth Aldrich | Read More | Read Less | ) www.businessinsider.com time to read: +9 min

Some of the world's best first-class flights cost well over $10,000 but you can often get them for under 100,000 miles. A good travel credit card will help you accumulate these miles faster. See Business Insider's list of the best travel rewards credit cards »Get the latest tips you need to manage your money — delivered to you biweekly. Aspirational, bucket-list travel is one of the best uses of travel points and airline miles, in my opinion. You can transfer Amex points, Chase points, Citi points, and Marriott points to Singapore Airlines' KrisFlyer program, so you have lots of options for earning the requisitive rewards.

I've been booking trips using credit card points for years, but my travel goal for 2020 is to go on an epic trip to Machu Picchu and the Galapagos Islands. All I need to go on this trip are 40,000 United miles, and I can earn them all with the sign-up bonus on one credit card. Elizabeth AldrichIn the end, the entire trip would cost me 40,000 United miles and $125.15 in taxes and fees. I'm getting well over 2 cents per point in value with this redemption, and earning 40,000 United miles will be a breeze. I might use credit card points to pay for other parts of the trip, such as accommodations, transportation, or activities.

Credit cards are the best way to build credit, but you need good credit to get one. Founded in 2016, the company partnered with FDIC-insured WebBank to launch its credit card, Petal Card, to the general public last October. To help people with no credit build credit using the fee-free Petal® 2 "Cash Back, No Fees" Visa® Credit Card. Petal Card might not be the best credit card if you already have a robust credit history, but that's not really its purpose. Petal Card was created to help the "credit invisible" build credit with an affordable, transparent, user-friendly credit card, and in that regard, it's shaping up to be the best solution yet.

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Credit card points are a back-up emergency fund. How I use credit card points as a second emergency fundMost emergencies involve some form of travel. I use the World of Hyatt Credit Card to earn Hyatt points, and I used to have the old IHG Rewards Club credit card as well. Points aren't a substitute for a real emergency fundCredit card points can come in handy for last-minute travel situations, but they're no substitute for a real emergency fund.

☆ Store credit cards helped me build my credit so I could get approved for Chase Sapphire Reserve, but I'd think twice before opening one now
▼ + stars: | 2019-10-11 | by ( Elizabeth Aldrich | Sarah Silbert | Read More | ) www.businessinsider.com time to read: +7 min

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Read more: How to build creditStore credit cards are typically easier to get than regular credit cards. Opening lots of credit cards caused a temporary drop in my credit score, but it helped my credit in the end. The dangers of store credit cardsEven though store credit cards helped me build my credit, I wouldn't recommend them to most people. On top of that, some store credit cards still partake in questionable practices that regular credit cards have done away with.

☆ I opened high-yield savings accounts at two different banks to start earning 20 times more on my money, and I can tell you they live up to the hype
▼ + stars: | 2019-08-22 | by ( Elizabeth Aldrich | Read More | Read Less | ) www.businessinsider.com time to read: +6 min

AdvertisementWhen I first set serious savings goals for myself, high-yield savings accounts were just starting to get more attention. Over the past year, I've used two different high-yield savings accounts to build up my savings. AdvertisementHowever, with most of the new online banks that offer high-yield savings accounts, they are truly free. Customer service is good, but you can't visit in personI've never had an issue with my high-yield savings accounts, which is a good thing. However, for short-term savings goals, and particularly for emergency savings funds, I love my high-yield savings accounts.

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I quit my full-time job to travel and built a career working remotely from scratch. While it was tough in the beginning, I now feel more financially stable than I ever did in full-time employment. Elizabeth AldrichWhen you're self-employed, the money you make is directly tied to the work you do. Imagine landing a job offer and having them ask you what you charge — that's what self-employment looks like. But because I work virtually, I can live in very low-cost areas without having to lower my income standards.

Some casual internet research led me to the answer I needed: balance transfer credit cards. How I chose a balance transfer credit cardBalance transfer credit cards generally offer an introductory 0% APR for a set period of time, and often no fee for transferring your balance on another card to this card instead. Doing a second balance transfer with the Citi Simplicity® CardLuckily, I was approved for a second balance transfer credit card. My credit union credit card still had a $2,000 balance. I did the math and set the monthly payments on my Citi Simplicity® Card and my credit union credit card on autopay.

TheChase Sapphire Reserve® and Platinum Card® from American Express are two of the most popular premium cards for frequent travelers. If I had to choose between the two, the Chase Sapphire Reserve® is an easy winner in my book, although probably not for the reasons you'd assume. The Platinum Card nets you more points on airline tickets than the Chase Sapphire Reserve® but fewer on dining. Comparing travel insurance between the Chase Sapphire Reserve and the Platinum CardWhen it comes to travel insurance, the Platinum Card offers surprisingly little for a premium travel card. A cheaper alternative: the Chase Sapphire Preferred® CardBoth the Platinum Card and the Chase Sapphire Reserve® come with hefty annual fees of at least $550.

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). I used cards like the Chase Sapphire Preferred® Card, the World Of Hyatt Credit Card, and the Delta SkyMiles®Gold American Express Card to do it. Here are my top three favorite vacations I've been on and how I paid for them all with credit card points. I'm sure I spent hours combing through credit card offers and looking up redemption options in order to book these trips. Learn more about the cards she used:The World Of Hyatt Credit CardIHG® Rewards Premier Credit CardChase Sapphire Preferred® CardChase Sapphire Reserve®Ink Business Preferred® Credit Card

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