Money Crashers

Money Crashers
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We’re different.

Our team consists of a wide variety of subject matter experts, finance journalists, and financial professionals, including CPAs, real estate investors, and business owners. In addition to conducting thorough research and analysis, they bring real-world perspectives from many backgrounds, enabling them to translate complex financial topics in an easy-to-understand way.

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Money Crashers, LLC 1887 Whitney Mesa Dr #3030 Henderson, NV 89014
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667 Posts
8 Best Checking Accounts for Kids (Minors Under Age 18)

You can open a bank account for your child long before they attend their first school dance or slide behind the wheel of a car for the first time. 

And you should because kids learn by doing. A parent-supervised checking account is the ideal tool for teaching your child the value of money and getting them comfortable with the basics of spending, saving, and budgeting.

But not all kid-friendly checking accounts are alike. We’ve looked at dozens to build this list — now it’s on you to

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8 Best Debit and Prepaid Cards for Kids & Teenagers Under 18 Years Old
Apply NowRead the Review Ages Everyone Chores Yes Allowance Yes Investing No Parent Credit Card No Protection and Safety Full COPPA compliance, FDIC insurance, permanent blocks on spending with age-inappropriate merchants Apply NowRead the Review Methodology: How We Choose the Best Debit Cards for Kids These are the most important factors we consider in our evaluation of kid-friendly debit card providers: Minimum Age: These kid-friendly debit card accounts are generally open to kids as young as 6 - and in some... more
3 Best Savings Accounts for Kids (Minors Under Age 18)
Your kid's second bank account should be a savings account, and it should come close on the heels of the checking account. Learn More Ages Everyone Account Fees $5 per month after age 18 Overdraft Options None Withdrawal Limits Per Statement Cycle 6 Deposit Insurance Up to $250,000 Learn More Methodology: How We Chose the Best Savings Accounts for Kids We evaluated dozens of U.S. banks to build this list and ended up selecting only a handful of deserving savings accounts for kids. Balance requirements: Minimum... more
15 Best Bank Accounts for Kids Under 18 (Checking & Savings) – Rates for 2023
Opening a bank account for your kids and becoming a joint account holder is a great way to: Reinforce basic banking concepts that we take for granted, such as adding and withdrawing funds Teach basic budgeting skills and demonstrate the importance of spending less than you earn, a cornerstone of financial responsibility Demonstrate the importance of saving, even if it's just a few dollars per month, to the young child in your life Get a head-start on long-term savings goals, such as higher education supplies... more
Marriott Bonvoy Business® American Express® Card – Review

The Marriott Bonvoy Business® American Express® Card is a hotel rewards card and business credit card with a $125 annual fee. See rates and fees.

Every Marriott Bonvoy Business American Express Card purchase earns Marriott Bonvoy points, Marriott’s loyalty program currency. Once you accumulate enough points, you can redeem for free nights and room upgrades at thousands of participating Marriott hotels worldwide.

The Marriott Bonvoy Business American Express

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Guac App Review — Effortless Goal-Based Saving

Self-directed saving seems easy enough. You set a goal (say, “down payment for a new car”), a dollar amount, and the date you’d like to reach the goal. You figure out how much of each paycheck to set aside to make it happen. And then you dutifully transfer funds from your checking account to your savings account each payday.

Of course, it’s not that easy. Emergencies happen. Impulse buys beckon. Accountability falters. 

That’s where the Guac app comes in. Guac

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What Is DIF Insurance (Massachusetts Depositors Insurance Fund) – How It Works

If you have a bank account – or even if not – you’ve likely heard of FDIC insurance. FDIC insurance is deposit insurance overseen by the Federal Deposit Insurance Corporation, a federal entity created by the Banking Act of 1933.

FDIC insurance guarantees the safety of deposits in checking, savings, and CD accounts held with FDIC member banks. When a member bank fails, the FDIC reimburses each depositor up to $250,000 per account. As of early 2023, there are about 4,800 FDIC member banks,

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10 Best Small Business Checking Accounts of April 2023

Business banking is a little different from consumer banking. Our master list of the best online banks around is surprisingly short on business checking accounts with no monthly maintenance fees, minimum balance requirements, or monthly transaction limits.

Also, most business bank accounts impose transaction limits and demand hefty minimum balances to waive high monthly maintenance fees (also known as monthly service fees).

That puts microbusiness owners and solopreneurs at a distinct disadvantage.

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Blue Cash Everyday® Card from American Express – Review

The Blue Cash Everyday® Card from American Express is a no-annual-fee cash-back credit card with a very generous rewards program. Blue Cash Everyday offers 3% cash back (up to $6,000 per calendar year) on U.S. supermarket purchases, 3% cash back on U.S. online retail purchases, 2% cash back at U.S. gas stations and select U.S. department stores, and 1% cash back on everything else. Cash back accrues as Reward Dollars that can be redeemed for statement credits.

Although applicants

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Southwest Rapid Rewards® Plus Credit Card Review
The information related to the Southwest Rapid Rewards® Plus Credit Card has been collected by Money Crashers and has not been reviewed or provided by the issuer of this card. The Southwest Rapid Rewards® Plus Credit Card is a travel rewards credit card with a $69 annual fee and a rewards program that favors frequent Southwest Airlines travelers. If you live near a Southwest hub and need a no-frills airline credit card, the Southwest Airline Rapid Rewards Plus Credit Card is worth a closer look. Advantages... more
Capital One Spark Miles for Business Review – Unlimited 2x Miles
Capital One Spark Miles for Business is a business credit card with a $95 annual fee and a straightforward travel rewards program that earns an unlimited 2 miles per $1 spent on most purchases. Whereas many brand-specific business travel cards, such as the American Express Gold Delta SkyMiles Business Card, assign variable values to their miles, Spark Miles' miles are worth $0.01 apiece when redeemed for travel expenses. How Spark Miles for Business Stacks Up Capital One Spark Miles for Business doesn't have... more
What to Do If Your Bank Fails – 4-Step Checklist

Do you know what to do if your bank fails?

The sudden implosion of Silicon Valley Bank and Signature Bank has millions of once-complacent asking this question. The truth is, banks can and do fail, often without any prior outward signs of trouble. Hundreds of banks went out of business during the savings and loan crisis of the late 1980s and early 1990s, and hundreds more failed during the Great Financial Crisis of the late 2000s.

The good news is that your money doesn’t automatically evaporate

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Discover it® Chrome Credit Card Review – 2% Cash Back on Gas & Restaurants
What Sets the Discover it Chrome Card Apart The Discover it Chrome Card is a straightforward no-annual-fee rewards card, but that doesn't mean it has no features worth calling out. Key Features of Discover it Chrome These are the most important features of the Discover it Chrome credit card. First-Year Double Cash Back On your first card membership anniversary, 12 months after your sign-up date, Discover automatically doubles all the cash back you accumulated during the previous year. These include: Regular... more
Silicon Valley Bank Collapse — Second Largest All-Time Failure
What happened to Silicon Valley Bank? The short answer is, it failed after a classic bank run during which depositors rushed to withdraw cash while they still could. Silicon Valley Bank was the biggest U.S.-based bank to fail since the global financial crisis of the late 2000s and the second biggest U.S. bank failure of all time, not adjusting for inflation. March 10, 2023: Banking regulators seize SVB's assets and close the bank. Many startup employees did their personal banking with SVB too, turning to the... more
Discover it® Cash Back Card Review – 2x Cash Back Match Your First Year

Discover it® Cash Back is a cash back credit card with no annual fee and a nice rewards scheme. The card earns a base rate of 1% cash back on all purchases, but select rotating categories — for example, gas stations, restaurants, and department stores — earn 5% cash back on up to $1,500 in purchases per quarter. Discover it Cash Back is part of a larger family of cash back and travel rewards credit cards, with stablemates such as Discover it Chrome, Discover it Miles, and Discover

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APR (Annual Percentage Rate) — What It Is & How to Calculate
What is APR, and why is it preventing Alberto from paying off his debt? What Is APR? APR is the cost of borrowing money expressed as a percentage. Even unusual forms of credit like payday loans and casino chips can have an APR. Why Is APR Important? APR is important because it affects what you do during every step of the borrowing process. The amount you pay on everyday items like groceries, gas, and clothes if you carry a balance into the next month is called your purchase APR. Balance Transfer APR Many credit... more
7 Bank Error Types — Examples to Identify, Avoid & Correct
Common Bank Errors: How to Identify, Avoid, & Correct Them Banks are responsible for managing their customers' money and ensuring they process transactions accurately. Causes of Bank Errors & Mistakes It's important to be aware of what causes bank errors so you can prevent them from happening. Mistakes can happen when bank employees manually process transactions, such as entering incorrect amounts or selecting the wrong account. If a customer doesn't update their account information, the bank may send direct... more
How Do Banks Make Money? Income & Profit Creation Explained
If you've ever taken out an installment loan, used a credit card, or paid bank account fees, you've helped keep a bank in business. Most commercial banks earn interest and fees from multiple sources, though the specific mix and share varies by institution and not all banks earn every type of interest and fee income. Income TypeWhat It IsInterest on LoansOngoing payments from borrowers to the bank, usually as a percentage of the loan amount or balanceInterest on SecuritiesOngoing payments to the bank from external... more
Chase Sapphire Preferred® Card Review
1:1 Point Transfers to Eligible Travel Partners: You can transfer your Ultimate Rewards points to any of more than a dozen travel partners at a 1:1 ratio. Annual Anniversary Points Bonus: Each year your account remains open and in good standing, you'll get 10% of your total point earnings back in your account. Transferring Points to Chase Travel Partners If you don't want to redeem your points with Chase, you can transfer them to participating frequent traveler programs offered by airlines, hotels, and alliances.... more
Delta SkyMiles® Reserve Business American Express Card – Review
For less frequent business travelers and those put off by the price tag, I'd recommend the Delta SkyMiles® Platinum Business American Express Card instead. What Is the Delta SkyMiles® Reserve Business American Express Card? The Delta SkyMiles Reserve Business American Express Card is a super-premium business travel credit card designed for people who frequently fly Delta for business. Delta Medallion Program Delta SkyMiles Reserve Business' most generous benefits involve the Delta Medallion status program,... more
Capital One Business Deals Review — Discounts from Top Brands
What Is Capital One Business Deals? Capital One Business Deals is an online platform that offers exclusive discounts and deals on essential small-business purchases. How Capital One Business Deals Stacks Up Capital One Business Deals competes with several other small-business deal and discount platforms. Key Features of Capital One Business Deals Capital One Business Deals is built around an ever-changing collection of curated, prenegotiated deals for small-business owners. Capital One Business Deals Deals Capital... more
Capital One QuicksilverOne Cash Rewards Credit Card Review

The Capital One QuicksilverOne Cash Rewards Credit Card is a cash back credit card that charges a $39 annual fee and earns a flat, unlimited 1.5% cash back rate on every purchase. Cash back rewards can be redeemed for a variety of cash equivalents, including paper checks and statement credits.

Capital One QuicksilverOne is among a relative handful of cash back credit cards without an early spend bonus. On the other hand, this card has unusually lax credit requirements – prospects

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Capital One VentureOne Rewards Credit Card Review – 1.25x Miles
The Capital One VentureOne Rewards Credit Card is a travel rewards card with no annual fee and a straightforward, easy-to-understand rewards system that earns 1.25 miles per dollar spent on every purchase. Let's see how it stacks up against another popular Cap One rewards card: the Capital One Quicksilver Rewards Credit Card. Advantages of the Capital One VentureOne Rewards Credit Card The VentureOne Rewards card has a lot of benefits, not all of which are apparent right off the bat. That's a big advantage over... more
Capital One Quicksilver Cash Rewards Credit Card Review – 1.5% Cash Back

The Capital One Quicksilver Cash Rewards Credit Card is a popular cash back credit card that pays a flat, unlimited 1.5% cash back rate on all purchases and doesn’t charge an annual fee. Like many fellow cash back cards, it boasts a nice early spend bonus, a special introductory APR promotion for purchases, and some other user-friendly perks.

The Quicksilver Cash Rewards Card is comparable to a number of other cash back cards, most of which also lack annual fees. Popular alternatives

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How Much Money Should You Keep in Your Checking Account?
How much you need to keep on hand varies from person to person based on things like income, expenses, and personal habits. If you're self-employed, you need a larger checking account buffer to account for unexpected (and hopefully temporary) drops in income. You may need to find expenses to trim unless you're in a position to quickly increase. If your job is secure, your expenses are predictable, and you have no big planned expenses on the horizon. Your expenses are unpredictable. You need to be particularly... more
Credit Card Market Share — 2023 Analysis & Data on Processors
Looking through my card pile recently, I was surprised by the number of different credit card issuers represented. U.S. Payment Processor Market Share Since 2007 Visa has long been the top credit card processor in the United States, and its market share has only grown over time. Global Credit Card Market Share: Visa, UnionPay, Mastercard & The Rest As in the United States, the global credit card market is dominated by a handful of credit card processors. U.S. Market Share by Credit Card Issuer Finally, let's... more
How to Build Credit With CreditStrong Credit-Builder Loans
Whether you've never had a credit card to your name or you're recovering from a significant financial setback, you know it's in your interest to build your credit history and boost your credit score. Building credit can feel like a chicken-or-egg riddle, where you need a certain amount of credit history to qualify for entry-level credit products like secured credit cards. How to Build Credit With a Credit Builder Loan CreditStrong offers three distinct credit builder products, each with multiple plans tailored... more
Forced Savings — How Your Monthly Payments Build Equity
Approximately 66% of Americans own their homes and roughly 63% of those homeowners have mortgages. Forced saving happens when you make payments that build equity over time. You can’t spend equity at the grocery store, but you can access it by borrowing against it or selling the underlying asset. The longer you pay on the loan, the more you’re forced to save. If your mortgage is already paid off — congratulations! Then you have a tidy nest egg. If you sell your home.
7 Ways a Bad Credit Score Can Negatively Affect You
The lower your credit score, the more trouble you'll have qualifying for a credit card, mortgage, and many other types of credit. How Your Credit Score Works Your personal credit score is based on the information in your credit report, which is a comprehensive look at your recent financial history. Credit reports include data on: Past loan payments, including late or delinquent payments Credit utilization Recent credit applications, generally stretching back two years The different types of credit accounts you... more
Spruce Review — A Mobile Banking Platform Built by H&R Block
Spruce, a mobile banking platform built by H&R Block, provides comprehensive capabilities supported by its banking partner, Pathward, N.A. Among the dozens of newish fintech platforms I've examined and reviewed over the past year or two, Spruce stands out for its simplicity, usefulness, and transparent fee structure. What Is Spruce? Spruce is a mobile banking platform built and backed by H&R Block. What Sets Spruce Apart? Let's take a closer look at a few of the features and capabilities that set Spruce apart:... more
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