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Have you ever noticed the string of numbers printed on your credit card? Aside from your card number, expiration date, and security code, there's usually a two-digit month and year towards the end. This indicates your credit card's expiration date - the date after which your card becomes invalid. Expiration dates are a standard feature on credit cards. But what's the reasoning behind them, and what should you do when your card expires? This guide will explore everything you need to know about credit card expiration dates. Why Do Credit Cards Have Expiration Dates? Every credit card has an expiration date, typically set 2-3 years from when the card is issued. There are a few key reasons for these set expiration timeframes: Security  - Expiration dates help prevent fraud in case your card gets lost or stolen. If your card information is compromised, the impact is limited since the card can't be used indefinitely. Expiration dates prompt cardholders to obtain updated cards...

Are you looking to open a new credit card in 2025? With so many options to choose from, the application process can seem daunting. But having the right credit card can provide valuable rewards, cash back, low interest rates, and other benefits. This comprehensive guide will walk you through everything you need to know to successfully apply for a credit card this year. What Are the Benefits of Getting a Credit Card in 2025? Credit cards offer users a lot of advantages over cash or debit cards: Earn rewards:  Many credit cards today offer lucrative rewards programs on all your spending. From cash back to travel miles, rewards can add up quickly. Build your credit:  Using a credit card responsibly helps build your credit score over time. Having good credit saves you money on interest rates for loans and other financing. Fraud protections:  Credit cards provide $0 liability from fraudulent charges. With a debit card, money could be drained from your bank account. Flexible spe...

Credit cards have become an integral part of our financial lives. With over 524 million credit cards in circulation in the US alone, it’s clear these convenient pieces of plastic are here to stay. But how exactly does a credit card work? What goes on behind the scenes when you make a purchase with one? In this comprehensive guide, we’ll lift the veil on credit cards and explain step-by-step how they function. Whether you’re an experienced cardholder or applying for your first card, read on to gain an in-depth understanding of credit card mechanics in 2025. An Inside Look at Credit Card Transactions At its core, a credit card is a payment instrument that allows you to borrow money from the card issuer to pay for goods or services. The borrowing is short-term, usually lasting between one billing cycle (monthly) up to the end of the grace period. Here is what happens when you use your credit card: The merchant sends an authorization request for the purchase amount to the credit card netwo...

Graduate school can be an expensive investment, but student loans make higher education possible for millions of students each year. With legislative proposals like Project 2025 aiming to overhaul federal student loan programs, loans for graduate school may look quite different in 2025. This comprehensive guide covers everything from loan types and interest rates to repayment plans and forgiveness programs—and how proposed policy changes could impact graduate student borrowing in the years ahead. Types of Loans for Graduate Students Graduate students typically utilize two main types of loans: Federal Student Loans The majority of graduate students rely on federal student loans like Direct Unsubsidized Loans, Direct PLUS Loans (for graduate students), and sometimes Perkins Loans. The key advantages of federal graduate loans include fixed interest rates, flexible repayment plans, and eligibility for loan forgiveness programs like Public Service Loan Forgiveness (PSLF). The  FAFSA ...

Student loan debt is an increasingly heavy burden for college students in the United States. With the total student debt nearing $1.5 trillion in 2019, many wonder what the future holds for undergraduate borrowing. How will student loans for those pursuing bachelor's degrees change over the next 5 years leading up to 2025? In this comprehensive guide, we’ll explore the key factors that will shape undergraduate student loans in the near future. We’ll look at the types of loans available, trends in interest rates and fees, new repayment options, loan forgiveness programs, impacts of legislation, and changing borrower demographics. Let’s dive in! Types of Undergraduate Student Loans When it comes to financing a bachelor’s degree, students can choose from federal and private student loans. Here’s an overview of the main loan types undergraduates take out: Federal Direct Loans The William D. Ford Federal Direct Loan Program offers eligible students and parents low-interest loans directl...

Private student loans allow borrowers to cover education costs not met by federal loans, scholarships, or personal savings. As college tuition rates continue to outpace inflation, private loans are becoming an increasingly common way for students to bridge their funding gaps. But what will private student lending look like in 2025 and beyond? This comprehensive guide covers everything you need to know about private student loans, from types of loans to interest rates, eligibility criteria, and the potential impact of new policies on the horizon. Comparing Federal and Private Student Loans While both types of loans help students pay for college, federal and private student loans offer different advantages and requirements. Federal loans like Direct Subsidized, Unsubsidized, and PLUS loans are funded by the government and come with certain borrower protections like income-driven repayment and forgiveness options. Private student loans are offered by lenders like banks and credit unions w...

Student loan debt is a financial burden for millions of Americans. With outstanding student loans reaching $1.75 trillion in 2022, many borrowers are looking for ways to reduce their monthly payments and pay off their loans faster. This is where student loan refinancing comes in. What is Student Loan Refinancing? Student loan refinancing allows you to consolidate multiple federal and private student loans into one new loan with better terms. This means you can potentially lower your interest rate, reduce your monthly payment, or shorten your repayment period. It essentially gives your student loans a “reset” button so you can improve your finances. When you refinance your loans, you work with a private lender who pays off your existing loans and issues you a new loan. You get new loan terms based on current market rates and your latest credit score and income. Refinancing is ideal for those with good credit and steady jobs who want to optimize their student loan situation. It may not b...