Understanding the "Rule of 72" can help consumers see how quickly credit card debt can grow due to compound interest. The Rule of 72 is a simple formula to estimate how long it takes for debt to ...

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Hero Images Inc. / Getty Images The ...

WASHINGTON - Sens. Bernie Sanders, I-Vt., and Josh Hawley, R-Mo., introduced a bill on Tuesday that would cap credit card interest rates at 10% − an effort by two lawmakers who rarely see eye to eye.

If you're managing a short-term financial gap, paying interest temporarily can be OK. Calculate the costs when deciding whether to carry a credit card balance or do a balance transfer. Try to avoid ...