In this article, you’ll learn what J.D. Power is, what it does, and why the company matters. What Is J.D. Power? J.D. Power is a global marketing research firm that analyzes customer feedback regarding products and services across many different industries, including automotive, credit cards, and insurance. The company’s team of experts then translates that information into reports it sells to corporate clients, and free surveys and studies it publishes for consumers....

Yet it’s very common for companies to not notify applicants when they are rejected for a job. In fact, you might even interview with the employer and never hear back. It can help to learn more about why companies shy away from sharing hiring status with candidates, when they must disclose information, and how to follow up during the application process. Legal Requirements for Notifying Job Applicants In most cases, employers are not legally required to notify applicants that they have not been accepted for a job....

Late Payments Late payments are reported to the credit bureau and added to your credit report at least 30 days after the payment due date. Some creditors or lenders may not report late payments until they are 60 days past due. Your creditor can tell you its policy for reporting late payments to the credit bureaus. Because of the way late payments are reported, you get somewhat of a grace period for being late without having it affect your credit....

This page specifically covers how home mortgage refinancing can land you in hot water or be a welcome change providing a financial boost. If you just want an overview of how home mortgage refinancing works before weighing the pros and cons, get the facts by reviewing Mortgage Refinancing Basics. As a refresher, when you refinance your mortgage, you get a new loan that pays off your existing debt. Doing so can result in lower monthly payments unless you take out a substantial amount in cash....

Before you buy, you should know the pros and cons of this fixed-income investment type. You should also know how to spot the best market conditions for short-term investing. What Are Ultrashort-Term Bond Funds? Ultrashort-term bond funds, which often invest in bonds that mature in less than one year, are grouped with short-term bond funds, which hold bonds that mature in one to three years. Return rates for ultrashort-term bond funds are often higher than money market funds but lower than conventional short-term bond funds....

When Do You Get Paid After Starting a Job? When you receive your first paycheck depends on the timing of the company’s payroll and when you start employment. Company Pay Schedules Most employers pay their employees on a weekly or biweekly (every other week) basis. Some employers pay monthly; other employers pay on set dates, for example, on the 1st and 15th of every month. You may be paid: Weekly: Paid every week on a scheduled day of the week....

According to the most recent data from the National Center for Education Statistics (NCES), 87% of full-time undergraduate students were awarded financial aid in the 2019–2020 school year. Students who wish to apply for financial aid must fill out the Free Application for Federal Student Aid (FAFSA). Colleges and universities use FAFSA data to determine whether students are eligible for financial aid from the federal government. Aid can take the form of scholarships, grants, loans, and work-study jobs....

A house appraisal usually occurs after a seller accepts an offer on a home and before closing on the sale. It often follows an inspection; there’s no need to pay for an appraisal if there’s something wrong with the home. In most cases, the buyer pays the fee for the appraisal at closing. In some cases, they may be able to get the seller to pay for it. If you’re a buyer or a seller faced with this expense, you may wonder why you have to get an appraisal and pay the fee....

Impact to Your Credit Score A maxed out credit card (when your balance is right at the credit limit) is harmful to your credit score, the three-digit number that gauges your creditworthiness. According to FICO, a high credit card balance could cause your credit score to drop more than 100 points, depending on the other information in your credit report. The amount of debt you’re carrying is 30% of your FICO score and when the ratio of your credit card balance to credit limit—your credit utilization—gets too high, your credit score suffers....

Providers set rates based on certain factors that you can and can’t control. Learn what those factors are and what you can do to reduce your rising car insurance rates. Which Rate Increase Factors Can You Control? Insurers apply many factors when they set your car insurance premium and rates for policy renewals. Your Credit Many insurance companies use a credit-based insurance score. Factors like your credit history and types of credit, such as loans or credit cards, can affect your car insurance rates....

Unfortunately, there are numerous pitfalls that make travel rewards difficult to earn and redeem. Reduced award availability, higher costs for peak travel times, and limited time off work can even make travel rewards a difficult prospect for families. 5 Reasons Seniors Should Get a Travel Rewards Game But, that’s why senior citizens are the perfect demographic for the travel rewards game. Retired consumers tend to have the time and credit required to make the most of this hobby, and they can breeze past many of the rules that make using travel rewards difficult for the average consumer....

Before missing a payment or calling to cancel, read on to learn about the consequences of coverage gaps, what to do if your policy lapses, and when it can make sense to stop your coverage. What Happens When You Let Your Car Insurance Lapse? When you let your car insurance lapse, you’re allowing your coverage to end. Some reason for that include: You don’t have the money to pay your bill....

You may already know that payment history is one of the most important factors of your credit score, accounting for 35% of your FICO score. But does the payment amount matter? And more specifically, do minimum payments hurt your credit score? How Minimum Payments Impact Your Credit Score Your credit report, which is the basis for your credit score, lists the amount of your last payment. Credit scoring calculations don’t consider the amount of your credit card (or loan) payments in your credit score....

A 2019 survey by the Transamerica Center found that 77% of workers are concerned that Social Security won’t exist when it comes time for them to retire. “Young people frequently ask: ‘Will Social Security be there for me?’" states Carolyn Colvin, former acting commissioner of Social Security. “I take this question very seriously, and I am sure Social Security will be there in the future.” The good news is that the outlook for the Social Security system may not be as bleak as you might think, but the amount of Social Security benefits paid out will likely be smaller if nothing changes....

Executive Officers In most states, executive officers are considered employees of the corporate entity. Like other employees, they are automatically covered by workers compensation laws. However, many states permit at least some executive officers to opt out of coverage. The laws vary from state to state but here is a general overview. A number of states permit officers to exclude themselves from workers compensation coverage if the company has less than a specified number of officers, such as two or four....

The Cash Method of Accounting Before we get into strategies for year-end tax planning, let’s understand the mechanics of income accounting and how it can impact the taxes you owe. The timing of income and deductions depends on a self-employed taxpayer’s accounting method. The majority of self-employed workers and many small businesses use the cash method of accounting. This means that you would include in your gross income money that you actually or constructively received during the tax year....

The IRS said Monday it had started to send the form letters to about 36 million households who may be eligible based on their tax returns. The agency will later send a second personalized letter with an estimate of the automatic payments. (As for parents who have not yet received the first letter, an IRS spokesperson could not say what that meant, if anything at all.) The child tax credit, formerly up to $2,000 per child, was revamped and increased for 2021 when the American Rescue Plan pandemic relief bill was approved by Congress in March....

Each of the sections below will detail a common expense that self-employed individuals can use to reduce their taxable income and, in turn, their income and self-employment taxes. Home Office or Rent Deduction Let’s start with the home office deduction, which may be the most misunderstood of all deductions. While you can’t deduct your entire mortgage or home-office costs, and you can’t deduct for the space you sometimes use to work at the kitchen or couch, you can get a tax deduction if you have a separate office or room designated just for your business....

How Much Is This Going to Cost? The cost of college should not be a surprise unveiled only when the bills start arriving. Your family should have a handle on college costs before your child even starts applying. Each school, as well as the federal and state governments, will have information available to help calculate the general costs of attendance and estimate potential financial aid. Your family can use this as a starting point, then back off any anticipated scholarships to determine how much will come from savings or loans....

While the exact cut-off varies by lender, poor credit is generally any credit score below 580. Bad credit stems from late payments, debt collections and possibly even public records like repossession or foreclosure. The more negative information you have on your credit report, the lower your credit score will be. Your business can also suffer bad credit when it fails to keep up with credit obligations. There are business loan options for bad credit, but be prepared to pay more....