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<?xml version="1.0" encoding="UTF-8"?><rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" xmlns:georss="http://www.georss.org/georss" xmlns:geo="http://www.w3.org/2003/01/geo/wgs84_pos#" xmlns:media="http://search.yahoo.com/mrss/" > <channel> <title>Money.com</title> <atom:link href="https://money.com/money/feed/" rel="self" type="application/rss+xml" /> <link>https://content.money.com/money/feed/</link> <description>Money.com</description> <lastBuildDate>Tue, 30 Apr 2024 21:53:18 +0000</lastBuildDate> <language>en-US</language> <sy:updatePeriod> hourly </sy:updatePeriod> <sy:updateFrequency> 1 </sy:updateFrequency> <generator>https://wordpress.org/?v=6.3.4</generator><site xmlns="com-wordpress:feed-additions:1">180424325</site> <item> <title>4 Key Benefits of a Home Security System</title> <link>https://money.com/4-key-benefits-of-a-home-security-system/?xid=moneyrss</link> <dc:creator><![CDATA[Time]]></dc:creator> <pubDate>Tue, 30 Apr 2024 21:53:18 +0000</pubDate> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5940949</guid> <description><![CDATA[Home security systems are no longer considered a luxury, but could be a smart investment for your home, wallet and the environment. Today’s innovative and intelligent monitoring systems like ADT do more than just help deter potential intruders and burglars — but their smart home automation features could help people maintain a more sustainable and…]]></description> <content:encoded><![CDATA[<p><span style="font-weight: 400">Home security systems are no longer considered a luxury, but could be a smart investment for your home, wallet and the environment. Today’s innovative and intelligent monitoring systems like </span><b>ADT</b><span style="font-weight: 400"> do more than just help deter potential intruders and burglars — but their smart home automation features could help people maintain a more sustainable and green lifestyle. </span></p><p><span style="font-weight: 400">Additionally, home security systems may help you save money on your homeowner’s insurance and energy bills, while also potentially increasing your property’s value.</span></p><p><span style="font-weight: 400">If you’re wondering if installing a security system in your home is worth it, here are four key advantages to consider.</span></p><h2><b>1. Potential discounts on homeowner’s insurance?</b></h2><p><span style="font-weight: 400">Many insurance companies offer discounts on homeowner’s insurance.</span><span style="font-weight: 400">¹</span><span style="font-weight: 400"> This is because homes equipped with security systems are less likely to experience break-ins than homes without security systems, reducing the likelihood of claims. </span></p><h2><b>2. Get protection from the unpredictable </b></h2><p><span style="font-weight: 400">Environmental hazards such as floods and wildfires are no longer confined to specific regions but threaten homes across all 50 states. With up to $20 billion lost annually due to home water damage, a smart home system could be a crucial defense mechanism that may help preserve both your home’s integrity and your financial well-being. </span></p><p><span style="font-weight: 400">The best smart security systems like</span><b> ADT</b><span style="font-weight: 400"> come equipped with advanced sensors that detect Flood, Smoke, Carbon Monoxide, and other environmental threats so you can be one step ahead of environmental hazards. What’s more, ADT security systems feature intelligent products such as Google’s Nest Doorbell and Nest Cams that capture your doorstep in crystal clear resolution, and alert you of any activity outside your home.</span></p><h2><b>3. Save energy and potentially pay less for utility bills</b></h2><p><span style="font-weight: 400">Perhaps one of the most compelling advantages of an </span><b>ADT</b><span style="font-weight: 400"> home security system is its ability to help you potentially save on energy costs by providing you with the tools to manage and optimize your home’s energy usage. </span></p><p><b>ADT offers smart home products and features</b><span style="font-weight: 400"> that seamlessly integrate with your home’s lighting, heating, ventilation, and air conditioning systems. By automating and remotely managing these essential functions, ADT systems adapt to real-time conditions and personal schedules, optimizing your home’s energy consumption. This may help reduce your monthly utility bills, and also contribute to a more sustainable planet.</span></p><h2><b>4. Boost the resale value of your home</b></h2><p><b></b><span style="font-weight: 400">An </span><b>ADT smart security system</b><span style="font-weight: 400"> not only potentially makes your property more attractive to prospective buyers and renters but could also increase its market value. A report from the </span><i><span style="font-weight: 400">National Association of Home Builders</span></i><span style="font-weight: 400"> revealed that 50% of homebuyers who participated in their study prioritize having a security system in their new homes. Additionally, 65% of these buyers are willing to pay extra for homes that are equipped with smart technology. This may suggest that installing a home security system is not just an investment in your family’s safety, but also in your home’s marketability.</span></p><h2><b>Getting Started</b></h2><p><span style="font-weight: 400">Installing an ADT home security system could mean upgrading to a smarter, safer, and more efficient way of life. Either way, you get customizable smart security for a home with less worries. </span></p><p><span style="font-weight: 400">When every second counts, count on ADT to protect your home, while also helping you live more intelligently.</span></p><p><strong>Click here for a free, customizable quote and get an additional 10% off* when you sign up for ADT’s email list to hear about new offers, products and more.</strong></p><p><em><span style="font-weight: 400">*Claim offer by signing up to emails from ADT about new offers, products and more. 10% off for online purchases of ADT Self Setup or pro install systems. Pro install requires 36 mo. contract & term fees. Offer expires 6/30/2024. Your information is used by ADT in accordance with ADT’s </span><a href="https://www.adt.com/about-adt/legal/privacy-policy"><span style="font-weight: 400">privacy policy.</span></a></em></p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5940949</post-id> <media:thumbnail url="https://img.money.com/2024/04/Amplify-ADT-Home-Security-Advertorial-1.jpeg?quality=85" /> <media:content url="https://img.money.com/2024/04/Amplify-ADT-Home-Security-Advertorial-1.jpeg?quality=85" medium="image"> <media:title type="html">[Amplify]ADT-Home-Security-Advertorial-1</media:title> </media:content> </item> <item> <title>Best Gold ETFs of 2024</title> <link>https://money.com/best-gold-etfs/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Tue, 30 Apr 2024 20:54:21 +0000</pubDate> <category><![CDATA[Best]]></category> <category><![CDATA[ETFs]]></category> <category><![CDATA[Gold]]></category> <category><![CDATA[Investing]]></category> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5940899</guid> <description><![CDATA[Read on for our review and complete guide on the best Gold ETFs of 2024.]]></description> <content:encoded><![CDATA[<hr /><p>Gold has long been the most popular option for investors seeking exposure to precious metals. But if you don’t want to buy physical gold, gold exchange-traded funds (ETFs) offer a more convenient and efficient way to invest. With a wide range of options available, it’s important to identify the best-performing gold ETFs to align with your investment goals.</p><p>Below, we provide a guide to some of the top gold ETFs to consider for investment based on factors like performance, expenses, liquidity and overall benefits.</p><p>Our top picks, listed alphabetically, include abrdn Physical Gold Shares ETF (SGOL), GraniteShares Gold Trust (BAR), iShares Gold Trust (IAU), SPDR Gold Shares (GLD) and VanEck Vectors Gold Miners ETF (GDX).</p><h2>Our Top Picks of Gold ETFs</h2><ul><li><a href="#SGOL">abrdn Physical Gold Shares ETF (SGOL)</a></li><li><a href="#BAR">GraniteShares Gold Trust (BAR)</a></li><li><a href="#IAU">iShares Gold Trust (IAU)</a></li><li><a href="#GLD">SPDR Gold Shares (GLD)</a></li><li><a href="#GDX">VanEck Vectors Gold Miners ETF (GDX)</a></li></ul><hr><div class="m00646-mc-why-trust-us"><div class="why-content"><h3>Why Trust Us?</h3><div class="why-content-txt"><p>Our editors and writers independently evaluate gold ETFs ensuring that our content is precise and guided by editorial integrity. Read the full <a href="#methodology">methodology</a> to learn more.</p><ul><li>Over a dozen gold ETFs reviewed.</li><li>Numerous categories used to determine the best funds.</li><li>Multiple authoritative sources consulted.</li></ul></div></div></div><hr><p><a href="https://secure.money.com/pr/i29c6a119361?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-gold-etfs%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-gold-etfs%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=i29c6a119361&type=image" /></a></p><h2>Best Gold ETFs Reviews</h2><hr /><h3>abrdn Physical Gold Shares ETF (SGOL)</h3><hr><h3>Pros</h3><ul><li>Provides a list of gold bars it holds online</li><li>Comparatively low expense ratio</li></ul><h3>Cons</h3><ul><li>No dividend payments</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Inception date:</dt><dd>Sept. 9, 2009</dd></dl><dl><dt>Assets under management:</dt><dd>$3.159 billion (as of April 26, 2024)</dd></dl><dl><dt>Expense ratio:</dt><dd>0.17%</dd></dl><dl><dt>Holdings:</dt><dd>Physical gold</dd></dl><hr><p><strong>Why we chose it: </strong>SGOL, or the abrdn Physical Gold Shares ETF, stands out as an attractive option for investors seeking a cost-effective gold ETF. With an expense ratio of 0.17%, this fund offers a compelling value proposition by keeping fees relatively low.</p><p>The fund holds <a href="https://money.com/how-to-buy-gold/">gold bars</a>, which are securely stored in vaults located in Zurich and London. It has over $3 billion in assets under management, fewer than the largest gold ETFs on this list but still higher than BAR. SGOL also has decent liquidity, with an average daily trading volume of 4.58 million. An upside to this ETF is its transparency; SGOL publishes a list of its gold bars on its website.</p><hr /><h3>GraniteShares Gold Trust (BAR)</h3><hr><h3>Pros</h3><ul><li>Comparatively low per share cost and expense ratio</li><li>Transparency into the gold bars held by the trust</li></ul><h3>Cons</h3><ul><li>Comparatively lower liquidity</li><li>No dividend payments</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Inception date:</dt><dd>Aug. 31, 2017</dd></dl><dl><dt>Assets under management:</dt><dd>$913.46 million (as of Aug. 28, 2023)</dd></dl><dl><dt>Expense ratio:</dt><dd>0.17%</dd></dl><dl><dt>Holdings:</dt><dd>Physical gold</dd></dl><hr><p><strong>Why we chose it:</strong> GraniteShares Gold Trust (BAR) is a noteworthy gold ETF that focuses exclusively on holding gold bullion in its London vaults. It’s a much lower cost option due to its 0.17% expense ratio and per share price compared to other gold-leveraged ETFs.</p><p>BAR can be easily traded through a brokerage account or on the NYSE Arca exchange. However, it has lower liquidity than the other gold ETFs in this guide, with an average daily trading volume of around 809,950. The fund’s dedication to transparency extends to its daily disclosure of the gold bars it holds, enabling investors to verify the physical backing of their investment.</p><hr /><h3>iShares Gold Trust (IAU)</h3><hr><h3>Pros</h3><ul><li>Comparatively low expense ratio</li><li>High liquidity</li></ul><h3>Cons</h3><ul><li>No dividend payments</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Inception date:</dt><dd>Jan. 21, 2005</dd></dl><dl><dt>Assets under management: </dt><dd>$29.34 billion (as of April 18, 2024)</dd></dl><dl><dt>Expense ratio:</dt><dd>0.25%</dd></dl><dl><dt>Holdings:</dt><dd>Physical gold</dd></dl><hr><p><strong>Why we chose it:</strong> iShares Gold Trust (IAU) is a highly regarded ETF that provides investors with exposure to the price of gold. With nearly $30 billion in assets under management, it’s a substantial fund in the gold ETF space. IAU is listed on the NYSE Arca, offering convenient access to investors.</p><p>One notable advantage of IAU is its comparatively lower expense ratio to other gold ETFs, like SPDR Gold Shares. The fund’s lower fees make it a more cost-effective investment option for benchmarking the price of gold. Also, the fund’s size and liquidity allow investors to easily buy and sell shares, with an average daily trading volume of 8.86 million.</p><hr /><h3>SPDR Gold Shares (GLD)</h3><hr><h3>Pros</h3><ul><li>Biggest gold ETF in the market</li><li>High liquidity</li></ul><h3>Cons</h3><ul><li>Comparatively high expense ratio</li><li>No dividend payments</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Inception date:</dt><dd>Nov. 18, 2004</dd></dl><dl><dt>Assets under management:</dt><dd>$62.67 billion (as of April 26, 2024)</dd></dl><dl><dt>Expense ratio:</dt><dd>0.4%</dd></dl><dl><dt>Holdings:</dt><dd>Physical gold and cash</dd></dl><hr><p><strong>Why we chose it:</strong> SPDR Gold Shares (GLD) is the most popular gold ETF choice with a strong track record dating back to 2004. It’s also the largest gold ETF, boasting nearly $63 billion in assets under management. With its considerable size and market presence, this gold ETF may offer investors stability and reliability.</p><p>GLD invests in physical gold bullion and also holds cash. This approach provides investors with direct exposure to the underlying asset, ensuring that the fund’s performance aligns closely with the price movements of gold itself. In addition to its size and investment approach, GLD offers ample liquidity for investors, with an average daily trading volume of 8.55 million.</p><hr /><h3>VanEck Gold Miners ETF (GDX)</h3><hr><h3>Pros</h3><ul><li>Provides diversification and minimized risk as the investment is spread across many companies</li><li>Offers dividend payments</li></ul><h3>Cons</h3><ul><li>Comparatively high expense ratio</li><li>Prone to equity market fluctuations</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Inception date:</dt><dd>May 16, 2006</dd></dl><dl><dt>Assets under management:</dt><dd>$13.85 billion (as of April 26, 2024)</dd></dl><dl><dt>Expense ratio:</dt><dd>0.50%</dd></dl><dl><dt>Holdings:</dt><dd>Gold mining company securities</dd></dl><hr><p><strong>Why we chose it:</strong> VanEck Gold Miners ETF (GDX) offers investors exposure to the gold mining industry. This ETF offers a comprehensive approach by including nearly 50 major mining companies, including the two largest gold-mining companies in the industry: Newmont Corp. (NEM) and Barrick Gold Corp. (GOLD). By investing in GDX, investors can gain exposure to a diversified portfolio of gold mining stocks.</p><p>GDX allows investors to participate in the potential upside of the gold mining industry. The performance of gold mining companies can be influenced by various factors like production levels, operational efficiency and exploration success, so this ETF can be impacted by market pressures and not simply the price of gold. GDX is highly liquid, with an average daily trading volume of 27.61 million. Additionally, it’s the only ETF in this guide that pays a dividend.</p><hr /><p class="p1"><a href="https://secure.money.com/pr/gfd8794426a1?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-gold-etfs%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-gold-etfs%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=gfd8794426a1&type=image" /></a></p><h2>Gold ETFs Guide</h2><h3>Main things to know before choosing gold ETFs</h3><p>Before investing in gold ETFs, it’s crucial to understand a few key aspects. Gold ETFs offer exposure to gold with convenience and flexibility, allowing you to buy and sell shares on stock exchanges rather than <a href="https://money.com/how-to-buy-gold-bars/">buying physical gold</a> and needing to store and insure it.</p><p>When choosing a gold ETF, consider the expense ratio, which is the annual fee of owning the ETF and includes management, administrative and marketing costs. Evaluating the expense ratio can help determine the cost-effectiveness of the investment.</p><p>Investors must also be attuned to tax implications. The sale of ETF shares could result in capital gains or losses, and the tax treatment varies based on factors like holding period and tax jurisdiction. Understanding the potential tax ramifications can guide decision-making and overall portfolio management. Consider discussing this investment with a <a href="https://money.com/how-to-choose-a-financial-advisor/">financial advisor</a> if you’re unsure.</p><h3>How do gold ETFs work?</h3><p>An <a href="https://money.com/what-is-an-etf/">ETF</a> is a security that pools investors’ funds and purchases a typically diverse basket of holdings. Compared to individual stocks, ETFs provide you with lower risk since the investment is spread out, often among numerous companies in a given market sector or industry.</p><p><a href="https://money.com/everything-you-need-to-know-about-gold-etfs/">Gold ETFs</a> typically hold physical gold bullion in vaults or use derivatives to track the <a href="https://money.com/what-drives-the-price-of-gold/">price of gold</a>, while some invest in companies involved in mining and funding of gold production. Gold-backed ETFs issue shares that represent a certain amount of gold. As the price of the precious metal fluctuates, the value of the ETF’s shares changes accordingly. Investors can buy and sell these shares on stock exchanges throughout the trading day, providing liquidity and easy access to gold exposure.</p><h3>What are the different types of gold ETFs?</h3><p>There are various types of gold ETFs available that may cater to different investment strategies and preferences. One common type is the physically-backed gold ETF, which holds gold bullion in vaults and aims to track the spot price of gold.</p><p>Another type is the gold mining ETF, which invests in shares of companies that mine or fund gold production, providing exposure to the price of gold and the mining industry’s performance. ETFs that invest in stocks of gold mining companies may offer dividends to investors, while gold-backed ETFs don’t.</p><h3>What are the requirements for buying gold ETFs?</h3><p>To buy gold ETFs, you need to open a brokerage account. If you don’t have one already, look into <a href="https://money.com/best-online-stock-trading/">the best online trading platforms</a>. You can trade shares of ETFs on the major stock exchanges.</p><hr><h2>Gold ETFs FAQs</h2><h3>How can I buy gold ETFs?</h3><p>Investors can buy gold ETFs through a brokerage account, where they can search for the desired ETF ticker symbol and place buy orders. It's important to choose a reputable brokerage that offers access to a wide range of ETFs and provides reliable trade execution.</p><h3>Are gold ETFs safe to buy?</h3><p>Gold ETFs are generally considered safe to buy. However, like any investment, they come with risks and may not be the right fit for everyone. Make sure you carefully evaluate the ETF's prospectus, understand the underlying assets and consider gold market volatility and issuer credibility. Additionally, you can discuss the investment with a financial advisor to determine if it's right for you.</p><h3>What are the benefits of gold ETFs?</h3><p>Gold ETFs provide exposure to the price of gold without needing to own, insure or store the physical asset. ETFs generally offer high liquidity, allowing investors to buy and sell shares on stock exchanges. Additionally, gold ETFs provide diversification, allowing you to add exposure to a different asset class within your investment portfolio.</p><h3>What are the drawbacks of gold ETFs?</h3><p>Like any investment, gold ETFs come with their own set of risks. The value of these funds can be influenced by factors like changes in the price of gold, market sentiment and macroeconomic conditions. Additionally, while gold ETFs provide convenience, they lack the tangibility of physical gold ownership, which some investors may value as security.</p><h3>How are gold ETFs taxed?</h3><p>The tax treatment of gold ETFs can vary depending on factors like the investor's country of residence and the specific regulations in place, as well as the ETF's structure. In the United States, for example, gains from selling gold ETF shares held for more than one year may be subject to long-term capital gains tax rates. On the other hand, if the shares are held for one year or less, they may be subject to short-term capital gains tax rates. Tax implications for gold ETFs are complex, so consider consulting a financial advisor to determine how you may be taxed before investing.</p><hr><h2>How We Chose the Best Gold ETFs</h2><p>To determine the best gold ETFs of 2024, we analyzed various factors. First, we assessed the historical performance of gold ETFs, considering long-term returns, volatility and risk-adjusted performance. The cost-effectiveness of each ETF was analyzed by comparing the expense ratios of different gold ETFs to industry averages. We also considered the value each ETF provided relative to its fees.</p><p>Liquidity — a vital consideration for ETF investing — was carefully examined. The trading volume and average bid-ask spreads of gold ETFs were also analyzed to identify ETFs with sufficient liquidity for investors. This ensures ease of buying and selling shares, enhancing the overall investment experience.</p><p>Furthermore, we considered the reputation and track record of each ETF, including credibility, experience and financial stability. Assets under management (AUM) reflected the popularity and investor confidence in the ETFs reviewed. The AUM of each gold ETF was considered, as higher AUM often indicates a larger investor base and potentially better liquidity.</p><p>The information within this guide is for educational or informational purposes only and should not be considered financial advice or a recommendation to buy or sell any securities. Investors must conduct further research and consider their gold investing objectives before making investment decisions.</p><h2><b>Summary of Money’s Best Gold ETFs of 2024</b></h2><ul><li><a href="#SGOL">abrdn Physical Gold Shares ETF (SGOL)</a></li><li><a href="#BAR">GraniteShares Gold Trust (BAR)</a></li><li><a href="#IAU">iShares Gold Trust (IAU)</a></li><li><a href="#GLD">SPDR Gold Shares (GLD)</a></li><li><a href="#GDX">VanEck Vectors Gold Miners ETF (GDX)</a></li></ul><p class="p1"><a href="https://secure.money.com/pr/u1f7b2bc903e?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-gold-etfs%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-gold-etfs%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=u1f7b2bc903e&type=image" /></a></p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5940899</post-id> <media:thumbnail url="https://img.money.com/2023/08/Best-Gold-ETFs.jpg?quality=85" /> <media:content url="https://img.money.com/2023/08/Best-Gold-ETFs.jpg?quality=85" medium="image"> <media:title type="html">Best-Gold-ETFs</media:title> </media:content> </item> <item> <title>6 Best Credit Repair Companies of May 2024</title> <link>https://money.com/best-credit-repair-companies/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Tue, 30 Apr 2024 20:32:53 +0000</pubDate> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5940874</guid> <description><![CDATA[Read Money's picks for the best credit repair companies.]]></description> <content:encoded><![CDATA[<hr /><p>Our team was among the first to thoroughly research, evaluate and pick the best credit repair companies in the market.</p><p>Since we first published in 2016, we’ve spent thousands of hours investigating the industry, vetting around two dozen national providers. We compared them on 15+ data points that include fees, plans, customer feedback and industry reputation. Based on this extensive research, we picked the top credit repair companies in the market, including Credit Saint, Sky Blue Credit and the Credit Pros.</p><p><a href="https://secure.money.com/pr/qdb7500ea3b3?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=qdb7500ea3b3&type=image" /></a></p><h3>Money’s Main Takeaways</h3><ul><li>Credit repair involves reviewing your credit report for inaccuracies and disputing them with the reporting agencies.</li></ul><ul><li>You can repair your credit history yourself, but hiring a credit repair service can be helpful if your report has multiple mistakes.</li></ul><ul><li>Credit repair companies evaluate your credit report and dispute any errors on your behalf with the credit bureaus and your lenders.</li></ul><ul><li>Some companies also offer ongoing credit consultations and additional financial tools, like credit and identity theft monitoring.</li></ul><ul><li>The process can be time-consuming, often lasting up to a year.</li></ul><hr><div class="m00646-mc-why-trust-us"><div class="why-content"><h3>Why Trust Us?</h3><div class="why-content-txt"><p>Our editorial staff has more than a decade of experience with the credit and credit repair services industry. We review credit repair companies independently, ensuring our content is accurate and guided by editorial integrity. Read our <a href="#how">full methodology</a> to learn more.</p><ul><li>22 companies reviewed</li><li>10+ data points used, including pricing, services and customer support</li><li>100+ sources reviewed</li></ul></div></div></div><hr><h2>Our Top Picks for Best Credit Repair Companies</h2><p>The companies listed below are in alphabetical order.</p><ul><li><a href="#creditpeople">The Credit People</a> – Best for Low Setup Fees</li><li><a href="#creditpros">The Credit Pros</a> – Best Bonus Features</li><li><a href="#creditsaint">Credit Saint</a> – Best Overall</li><li><a href="#credit-versio">Credit Versio</a> – Best for DIY Credit Repair</li><li><a href="#lexlaw">Lexington Law</a> – Credit Repair Industry Leader</li><li><a href="#skyblue">Sky Blue Credit</a> – Best Value</li></ul><p><a href="https://secure.money.com/pr/u3ca8cdc8e92?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=u3ca8cdc8e92&type=image" /></a></p><h2>Best Credit Repair Reviews</h2><hr /><p><a href="https://secure.money.com/pr/dcf5efd06f2d?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=dcf5efd06f2d&type=image" /></a><em><strong><br /></strong></em></p><hr><h3>Pros</h3><ul><li>Simple pricing structure</li><li>Customer service available through phone, chat or email</li><li>Low one-time first work fee ($19)</li><li>Unlimited challenges with all three bureaus</li></ul><h3>Cons</h3><ul><li>No credit monitoring</li><li>No financial management tools</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Monthly fee: </dt><dd>$99, $119 or $599 six-month flat rate </dd></dl><dl><dt>Set-up fee: </dt><dd>$19 (No setup fees with six-month plan) </dd></dl><dl><dt>Money-back guarantee: </dt><dd>Cancel at any time and you won't be charged for that month of service. If you choose the flat-fee plan, you have a full six-month satisfaction guarantee</dd></dl><hr><p><strong>Why we chose this company</strong>: We chose The Credit People as the best option for low startup fees because the company only charges $19. This sets it apart from competitors, which usually charge around $79 or more to set up your account and pull your credit report.</p><p>Additionally, The Credit People offers an excellent money-back guarantee. The company lets you cancel your subscription whenever you want and refunds both the last and previous month’s payment. Most credit repair companies, on the other hand, have a 90-day money-back guarantee or only refund you for the last month of service.</p><p>The Credit People’s interface is also a plus — you can monitor updates to your credit report or score from all three credit bureaus from their easy-to-use online dashboard. It also lets you track open disputes and connect to customer service if you have any questions.</p><p>The three memberships offered by The Credit People include the following credit repair services:</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col width="26%" /><col width="26%" /><col width="26%" /></colgroup><thead><tr><th><p><strong>Standard Plan<br />$99 p/m</strong></p></th><th><p><strong>Premium Plan<br />$119 p/m</strong></p></th><th><p><strong>Flat-rate Plan<br />$599 One-time fee</strong></p></th></tr></thead><tbody><tr><td align="center"><ul><li style="text-align: left">Credit score before and after negative items are removed</li></ul><ul><li style="text-align: left">Unlimited disputes to all three credit bureaus</li></ul></td><td align="center"><ul><li style="text-align: left">Credit score from all bureaus updated monthly</li></ul><ul><li style="text-align: left">Debt validation letters</li></ul><ul><li style="text-align: left">Creditor interventions</li></ul><ul><li style="text-align: left">Unlimited disputes to all three credit bureaus</li></ul></td><td align="center"><ul><li style="text-align: left">Same benefits as the premium plan</li></ul><ul><li style="text-align: left">Cancel at any and get a refund for the remaining months</li></ul></td></tr></tbody></table><hr><p><strong><a href="https://money.com/the-credit-people-credit-repair-review/">Read full review>></a></strong></p><p>See plans on <a href="https://secure.money.com/pr/g75434302152">The Credit People’s Secure Website>></a></p><hr /><p><a href="https://secure.money.com/pr/w90f4e051807?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=w90f4e051807&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Financial management tools and credit monitoring included with every plan</li><li>Live chat available</li><li>Certified FICO professionals</li><li>No setup fee</li></ul><h3>Cons</h3><ul><li>Basic credit repair package only includes one credit dispute</li><li>24/7 phone support isn't available</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Monthly fee: </dt><dd>$69 - $149 </dd></dl><dl><dt>Set-up fee: </dt><dd>$119 or $149 </dd></dl><dl><dt>Money-back guarantee: </dt><dd>90 days</dd></dl><hr><p><strong>Why we chose this company</strong>: Many credit repair companies offer extra perks only with their most expensive plan. We chose The Credit Pros as Best for Bonus Features since it offers useful financial management tools at all price tiers.</p><p>The plans include tools like bill reminders and a budgeting system that syncs to your accounts in real time. They also feature TransUnion alerts to track credit score changes and dark web monitoring to check if your personal information (like your Social Security number or address) was leaked.</p><p>The most comprehensive plan, the Success Plus, also lets you access reports and scores from the three credit bureaus and a credit builder loan that can help improve your credit history if you make timely payments.</p><p>All plans include access to The Credit Pros’ mobile app, which lets you review disputes, receive real-time updates and monitor your credit score and report.</p><p>The company’s free consultation is available in English and Spanish, something not common in the credit repair industry. However, note that its initial work fee is higher than many other competitors’ — $119 for its low and medium tier plans and $149 for its premium plan.</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col width="26%" /><col width="26%" /><col width="26%" /></colgroup><thead><tr><th><p>Money Management<br />$69 p/m</p></th><th><p>Prosperity<br />$129 p/m</p></th><th><p>Success Plus<br />$149 p/m</p></th></tr></thead><tbody><tr><td align="center"><ul><li style="text-align: left">$119 one-time initial work fee</li></ul><ul><li style="text-align: left">One-bureau report and scores</li></ul><ul><li style="text-align: left">ID Cover Darkweb monitoring</li></ul><ul><li style="text-align: left">TransUnion alerts</li></ul><ul><li style="text-align: left">Real-time account sync</li></ul><ul><li style="text-align: left">Bill reminder</li></ul><ul><li style="text-align: left">Budgeting system</li></ul></td><td align="center"><ul><li style="text-align: left">$129 one-time initial work fee</li></ul><ul><li style="text-align: left">Same features as the Money Management plan</li></ul><ul><li style="text-align: left">Three-bureau Credit bureau challenges</li></ul><ul><li style="text-align: left">Cease and desist letters</li></ul><ul><li style="text-align: left">Letters of reference</li></ul><ul><li style="text-align: left">Creditor interventions</li></ul></td><td align="center"><ul><li style="text-align: left">$149 one-time initial work fee</li></ul><ul><li style="text-align: left">Same features as the Prosperity plan</li></ul><ul><li style="text-align: left">Access to credit builder loan (if interested)</li></ul><ul><li style="text-align: left">Three-bureau reports and scores</li></ul></td></tr></tbody></table><hr><p><strong><a href="https://money.com/the-credit-pros-credit-repair-review/">Read full review>></a></strong></p><p>See plans on <a href="https://secure.money.com/pr/uf801d02a1d1?apxa2=&apxa3=&apxa1=%2Fbest-credit-repair-companies%2F&ca_referer=money.com%2Fbest-credit-repair-companies%2F%3A%3A:The%20Credit%20Pros&apxp1=The%20Credit%20Pros&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F">The Credit Pros’ Secure Website>></a></p><hr /><p><a href="https://secure.money.com/pr/ke6c70e2de3b?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=ke6c70e2de3b&type=image" /></a></p><hr><h3>Pros</h3><ul><li>90-day money-back guarantee</li><li>Clear pricing policies</li><li>Online sign-up available</li><li>Online chat available weekdays from 9 a.m. - 7 p.m. </li></ul><h3>Cons</h3><ul><li>Service not available in South Carolina, Kansas, Mississippi, Oregon, Maine and Washington, D.C.</li><li>First work fee of up to $195</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Monthly fee: </dt><dd>$79.99 - $139.99</dd></dl><dl><dt>Set-up fee: </dt><dd>$99 - $195</dd></dl><dl><dt>Money-back guarantee: </dt><dd>90 days</dd></dl><hr><p><strong>Why we chose this company:</strong> Credit Saint is our pick for Best Overall because of its clear pricing policies and comprehensive package options.</p><p>The company offers three credit repair packages: Credit Polish, Credit Remodel and Clean Slate. The packages — which range from $79.99 to $139.99 — differ in how many claims they’ll dispute a month, from five claims with the basic “Credit Polish” plan to an unlimited amount with the premium “Clean Slate” plan.</p><p>Each package also features a different suite of financial tools. The basic plan, for instance, includes a credit score tracker, while the highest tier plan adds credit and identity theft monitoring, lost wallet protection and more.</p><p>Credit Saint offers a free consultation to evaluate your particular situation and identify the next steps you should take. Once you sign up with them, the company assigns an advisory team to your case and schedules calls to keep you informed.</p><p>Credit Saint also provides a credit score analysis and educational content to help customers better understand their credit. Some plans also include a personalized guide to building credit. Additionally, the company offers a 90-day money-back guarantee if you don’t see any changes in your credit history after three months.</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col width="26%" /><col width="26%" /><col width="26%" /></colgroup><thead><tr><th><p>Credit Polish</p><p>$79.99 p/m</p></th><th><p>Credit Remodel</p><p>$99.99 p/m</p></th><th><p>Clean Slate</p><p>$139.99 p/m</p></th></tr></thead><tbody><tr><td align="center"><ul><li style="text-align: left">$99 one-time initial work fee</li><li style="text-align: left">Challenges to the 3 Credit Bureaus</li><li style="text-align: left">Score Analysis</li><li style="text-align: left">Score Tracker</li><li style="text-align: left">Access to Educational Content</li><li style="text-align: left">90 Day Money Back Guarantee</li></ul></td><td align="center"><ul><li style="text-align: left">$99 one-time initial work fee</li><li style="text-align: left">Same as Credit Polish plan</li><li style="text-align: left">Creditor Intervention Letters</li><li style="text-align: left">Inquiry Targeting</li><li style="text-align: left">Personalized Guide to Building Credit</li><li style="text-align: left">Access to Educational Content</li><li style="text-align: left">One-Bureau Report and Scores</li><li style="text-align: left">Real-Time Account Sync</li></ul></td><td align="center"><ul><li style="text-align: left">$195 initial work fee</li><li style="text-align: left">Same as Clean Slate plan</li><li style="text-align: left">Acqualify Loan Readiness Program Enrollment</li><li style="text-align: left">Rent-to-Own Home Program available through Pathway Homes</li><li style="text-align: left">Report Your Payments to all 3 Bureaus</li><li style="text-align: left">Three-Bureau Reports and Scores</li><li style="text-align: left"><p>Early Warning System for Bank Accounts</p></li><li style="text-align: left"><p>$1M ID Theft Insurance Policy</p></li></ul></td></tr></tbody></table><hr><p><strong><a href="https://money.com/credit-saint-credit-repair-review/">Read full review>></a></strong></p><p>See plans on <a href="https://secure.money.com/pr/u0b8c76b662e?apxa2=&apxa3=&apxa1=%2Fbest-credit-repair-companies%2F&ca_referer=money.com%2Fbest-credit-repair-companies%2F%3A%3A:Credit%20Saint&apxp1=Credit%20Saint&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F">Credit Saint’s Secure Website>></a></p><hr /><p><a href="https://secure.money.com/pr/aae01ccb5490?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=aae01ccb5490&type=image" /></a></p><hr><h3>Pros</h3><ul><li>AI software analyzes your credit reports to identify negative items</li><li>Automatically generates dispute letters based on your credit situation</li><li>Keeps track of your credit score and disputes with an easy-to-read dashboard</li><li>Monthly plans include identity theft insurance</li></ul><h3>Cons</h3><ul><li>You must mail the dispute letters yourself</li><li>No credit experts to assist you</li><li>No money-back guarantee</li><li>No credit consultations</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Monthly fee: </dt><dd>$24.95 - 29.95</dd></dl><dl><dt>Set-up fees: </dt><dd>None </dd></dl><dl><dt>Money-back guarantee:</dt><dd> None</dd></dl><hr><p><strong>Why we chose this company</strong>: Credit Versio is our pick for Best for DIY Credit Repair because it’s a low-cost alternative to traditional crexdit repair services and simplifies the often complicated credit repair process.</p><p>Even though you can dispute credit inaccuracies yourself at no cost, the process can be time-consuming and stressful. Credit repair software, Credit Versio, can help streamline this process.</p><p>The company’s software uses artificial intelligence to scan your credit reports for negative items that may be lowering your credit score. It then organizes them according to the credit bureau that reported it.</p><p>If you find a mistake, the software can generate tailored dispute letters based on your credit information and why you believe that item is inaccurate.All you have to do is print out the letter and mail it to the credit bureau.</p><p>Credit Versio offers three plans that provide unlimited dispute letters and monthly credit reports and scores. Two give you access to SmartCredit’s credit monitoring platform, and the most expensive plan also includes IdentityIQ, an identity theft protection service.</p><p>Adding these services lets Credit Versio keep track of any changes to your credit report in case you need to send out more dispute letters.</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col width="40%" /><col width="40%" /></colgroup><thead><tr><th><p>smartcredit BASIC<br />$24.95 p/m</p></th><th><p>smartcredit PREMIUM<br />$29.95 p/m</p></th></tr></thead><tbody><tr><td align="center"><ul><li style="text-align: left">Unlimited disputes</li></ul><ul><li style="text-align: left">Monthly 3-Bureau reports & scores</li></ul><ul><li style="text-align: left">Identity insurance up to $1 million</li></ul><ul><li style="text-align: left">Credit monitoring alerts from TransUnion</li></ul><ul><li style="text-align: left">Access to Smartcredit Money Manager</li></ul><ul><li style="text-align: left">Two monthly Transunion Report & score</li></ul></td><td align="center"><ul><li style="text-align: left">Unlimited disputes</li></ul><ul><li style="text-align: left">Monthly 3-Bureau reports & scores</li></ul><ul><li style="text-align: left">Identity insurance up to $1 million</li></ul><ul><li style="text-align: left">Credit monitoring alerts from TransUnion</li></ul><ul><li style="text-align: left">Access to Smartcredit Money Manager</li></ul><ul><li style="text-align: left">Unlimited Transunion Report & score updates</li></ul></td></tr></tbody></table><hr><p><strong><a href="https://money.com/credit-versio-credit-repair-review/">Read full review>></a></strong></p><p>See plans on <a href="https://secure.money.com/pr/e5606ad9c38c">Credit Versio’s Secure Website>></a></p><hr /><p><a href="https://secure.money.com/pr/a4902cd450b0?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=a4902cd450b0&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Online contact options</li><li>Free credit report consultation</li><li>All plans include identity theft insurance</li></ul><h3>Cons</h3><ul><li>Accused by the CFPB of collecting illegal advance fees</li><li>No satisfaction guarantee</li><li>Only up to 3 Experian interventions per month</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Monthly fee:</dt><dd>$99.95</dd></dl><dl><dt>First payment:</dt><dd>None</dd></dl><dl><dt> Money-back guarantee: </dt><dd>None</dd></dl><hr><p><strong>Why we chose this company: </strong>Lexington Law is our pick for Industry Leader due to its more than 18 years of experience and almost nationwide availability (every state except in Oregon).</p><p>Because it’s a law firm and its staff is mostly attorneys and paralegals, the company is said to explore every legal avenue to correct inaccuracies in your credit report.</p><p>The company offers a single credit repair package for $99.95 per month. The plan includes challenges to all three credit bureaus, creditor intervention letters and $25,000 identity theft insurance. You also get personalized credit score improvement strategies to help improve your overall credit health.</p><p>If you want to track your credit progress, Lexington has a highly ranked mobile app where users have 24/7 access to their credit score analysis, personalized counseling plan and dispute updates.</p><p>However, Lexington Law has had its share of legal problems. Recently, the company was accused of charging illegal upfront fees through telemarketing, and the Consumer Financial Protection Bureau (CFPB) has entered a proposed settlement requiring Lexington Law to pay a $2.7 billion fine.</p><p>Additionally, in June 2023, the company filed for Chapter 11 bankruptcy. The case is pending.</p><p>Despite this, Lexington Law remains a powerful player in the industry and offers the advantage of having an experienced law firm handling your case.</p><p><strong><a href="https://money.com/lexington-law-credit-repair-review/">Read full review>></a></strong></p><p>See plans on <a href="https://secure.money.com/pr/c448c3b8aac4?ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F">Lexington Law’s Secure Website>></a></p><hr /><p><a href="https://secure.money.com/pr/xd68f093a051?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=xd68f093a051&type=image" /></a></p><hr><h3>Pros</h3><ul><li>50% discount for couples</li><li>Repair up to 15 items every 35 days</li><li>Online sign-up available</li><li>Pause your subscription whenever you like</li></ul><h3>Cons</h3><ul><li>No financial tools, such as credit score tracker</li><li>Credit disputes limited to five per bureau every 35 days</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Monthly fee: </dt><dd>$79 or $99 for individuals ($119 or $149 for couples)</dd></dl><dl><dt>Set-up fee:</dt><dd>$79 or $99</dd></dl><dl><dt>Money-back guarantee: </dt><dd>90 days</dd></dl><hr><p><strong>Why we chose this company: </strong>Sky Blue Credit Repair is our pick for best value because it offers low-cost credit-repair packages that include just about everything you need to clean up your credit report quickly.</p><p>For $79 a month, Sky Blue provides a basic package that includes credit bureau disputes, three-bureau reports and scores, one-on-one consultations, an online client portal and a credit score tracker.</p><p>The company also offers a full service package for $99 a month. This includes everything in the basic one as well as creditor interventions, debt validation letters, cease and desist letters, personal information correction letters, credit-building tools and more.</p><p>The company can also help you organize a strategy to improve your credit score, and you can schedule consultations if you have questions about anything credit-related, like credit card offers or loan applications.</p><p>It’s also worth noting that Sky Blue Credit Repair offers one of the most flexible subscriptions on the market. If you want to skip a month of service without canceling your subscription, you can request a pause through your online account.</p><p>You won’t be charged while your account is paused, and you can resume the subscription when needed. This could save you money on startup fees, which most credit repair firms charge whenever you start using their services.</p><p>Its credit repair plans include:</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col width="40%" /><col width="40%" /></colgroup><thead><tr><th><p>Full Service<br />$99 p/m<br />($149 for couples)</p></th><th><p>Basic Plan<br />$79 p/m<br />($119 for couples)</p></th></tr></thead><tbody><tr><td align="center"><ul><li style="text-align: left">Three-bureau reports and scores</li><li style="text-align: left">Credit bureaus disputes</li><li style="text-align: left">One-on-one consultations</li><li style="text-align: left">Score tracker</li><li style="text-align: left">24/7 access to client portal</li><li style="text-align: left">60-Day credit updates</li></ul></td><td align="center"><ul><li style="text-align: left">Everything in basic plan</li><li style="text-align: left">Creditor interventions</li><li style="text-align: left">Inquiry disputes</li><li style="text-align: left">Debt validation letters</li><li style="text-align: left">Cease and desist letters</li><li style="text-align: left">Personal information correction letters</li><li style="text-align: left">45-Day credit updates</li><li style="text-align: left">Credit builder tool</li></ul></td></tr></tbody></table><hr><p><strong><a href="https://money.com/sky-blue-credit-repair-review/">Read full review>></a></strong></p><p>See plans on <a href="https://secure.money.com/pr/u29b63022ba9?ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F">Sky Blue’s Secure Website>></a></p><hr /><p><a href="https://secure.money.com/pr/o475a72f9d41?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-credit-repair-companies%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=o475a72f9d41&type=image" /></a></p><h2>Other credit repair companies we considered</h2><p>We researched dozens of companies in the process of compiling our list of the top credit repair services. Some companies, however, didn’t make the cut. These are some of them:</p><hr /><h4>Safeport</h4><p>Safeport Law charges $129.99 monthly for a credit repair package that includes challenges to the three main credit bureaus, creditor interventions and a credit score analysis and tracker. However, the company only offers one service plan, while most of our main picks offer two or more. Also, it charges a $129 setup fee, which is higher compared to companies with similar service plans.</p><hr><h3>Pros</h3><ul><li>90-day money-back guarantee</li><li>Credit score tracker and analysis</li><li>24/7 online progress tracking</li></ul><h3>Cons</h3><ul><li>Only one credit repair plan</li><li>Higher setup fee than competitors with similar service plans</li></ul><hr><p>See plans on <a href="https://secure.money.com/pr/t9b5f5a4ad79">Safeport’s Secure Website>></a></p><hr /><h4>Credit Glory</h4><p>Credit Glory doesn’t show plans and pricing information clearly on their website, making it challenging for potential customers to make well-informed decisions.</p><hr><h3>Pros</h3><ul><li>Customer service available on weekends</li><li>Phone line available to contact credit experts directly</li></ul><h3>Cons</h3><ul><li>No information on pricing and services available on the company website</li><li>Can only sign up by calling</li></ul><hr><p>See plans on <a href="https://secure.money.com/pr/vec281ca77e3">Credit Glory’s Secure Website>></a></p><hr /><h4>CreditRepair.com</h4><p>CreditRepair.com offers three service plans priced at $69.95, $99.95 and $119.95, each with a first-work fee of the same price. The plans include a free, online initial evaluation, your credit score, a negative item summary and a personalized credit repair plan. However, they don’t have a money-back guarantee, which other companies include at that price point.</p><hr><h3>Pros</h3><ul><li>Free online credit evaluation</li><li>Three service plans available</li><li>Online chat available</li><li>Sign up with a friend or family member and both get a 50% discount on the first work fee</li></ul><h3>Cons</h3><ul><li>Accused by the CFPB of collecting illegal advance fees</li></ul><hr><p>See plans on <a href="https://secure.money.com/pr/x32954578d38">CreditRepair.com’s Secure Website>></a></p><hr /><h4>Trinity Credit Services</h4><p>Trinity Credit Services has over nine years in the credit repair business. The company offers a free credit report evaluation and a customized credit repair plan, which you can keep track of online. However, the company isn’t clear about service costs and setup fees on their website. Additionally, they don’t provide information about guarantees.</p><hr><h3>Pros</h3><ul><li>Free credit report evaluation</li><li>Track the dispute process online</li></ul><h3>Cons</h3><ul><li>No information about services and fees</li></ul><hr><p>See plans on <a href="https://secure.money.com/pr/qe05cff7e78a">Trinity Credit Services’s Secure Website>></a></p><hr /><h4>Pyramid Credit Repair</h4><p>Pyramid Credit Repair has over ten years of experience, and it’s one of the few credit repair companies offering 24/7 customer support. However, this benefit is only available with the company’s priciest plan ($179 monthly fee with a first-work fee of the same amount). In addition, its cheaper plans ($89 and $129) include fewer benefits than similarly priced plans from competitors.</p><hr><h3>Pros</h3><ul><li>Offers 24/7 customer support (with the premium plan)</li><li>Includes a score analysis and online portal</li></ul><h3>Cons</h3><ul><li>No money-back guarantee</li></ul><hr><p>See plans on <a href="https://secure.money.com/pr/s18372bcb02a">Pyramid Credit Repair’s Secure Website>></a></p><hr /><h4>AMB Credit Consultants</h4><p>AMB Credit Consultants has been in business for more than 10 years, but there are some drawbacks to its services. For example, it doesn’t offer a free credit consultation, and you must subscribe to a monthly credit monitoring plan from IdentityIQ for $24.99 before scheduling a consultation.</p><hr><h3>Pros</h3><ul><li>Over ten years of experience</li><li>Discount for couples</li></ul><h3>Cons</h3><ul><li>Must commit to at least 6-9 months of service</li><li>Must pay for a monthly credit monitoring subscription before the initial consultation</li><li>Extra fee for third-party credit monitoring</li></ul><hr><p>See plans on <a href="https://secure.money.com/pr/f8e2d5cc7666">AMB Credit Consultants’ Secure Website>></a></p><hr /><h4>Creditfirm.net</h4><p>CreditFirm.net charges $49.99 per month for individuals ($89.99 for couples), which is relatively inexpensive compared to other companies. But the company doesn’t offer a free credit consultation, money-back guarantee or additional finance tools.</p><hr><h3>Pros</h3><ul><li>No setup fees</li><li>Couples discount available</li><li>Cancel any time</li><li>Unlimited disputes to creditors</li></ul><h3>Cons</h3><ul><li>Monthly credit monitoring not available</li><li>No money-back guarantee</li><li>Outdated website is hard to navigate</li><li>Customers must send in credit reports themselves</li></ul><hr><p>See plans on <a href="https://secure.money.com/pr/kee5a75784a6">Creditfirm.net’s Secure Website>></a></p><hr /><h4>Credit Assistance Network</h4><p>The Credit Assistance Network’s website is outdated and hard to navigate. There’s little to no information regarding the company’s reputation on third-party party review sites. Additionally, the company doesn’t offer credit repair services. Instead, it forwards you to The Credit Pros, one of our main picks. With this in mind, we recommend signing up with The Credit Pros directly.</p><hr><h3>Pros</h3><ul><li>20% discount for friends or spouses</li><li>Includes personal finance tools</li><li>Credit restoration services managed by The Credit Pros (one of our main picks)</li></ul><h3>Cons</h3><ul><li>Outdated or unclear information on its website</li></ul><hr><p>See plans on <a href="https://secure.money.com/pr/u55b10afda25">Credit Assistance Network’s Secure Website>></a></p><hr /><h2>Credit Repair Guide</h2><p>Credit report mistakes are much more common than you might think. And, while you can remove inaccurate information from your credit report yourself, the process is often frustrating and time consuming.</p><p>A credit repair agency can make this process easier by doing the heavy lifting for you — obtaining your reports, finding inaccuracies and disputing any mistakes on your behalf directly with lenders and credit bureaus. However, many companies make false claims and lure customers into paying for services that won’t deliver any results.</p><h3>Table of Contents</h3><ul><li><a href="#What-is">What is credit repair?</a></li><li><a href="#How-does">How does credit repair work?</a></li><li><a href="#How-do">How do credit repair companies work?</a></li><li><a href="#How-much">How much does credit repair cost?</a></li><li><a href="#What">What you should know before hiring a credit repair company</a></li><li><a href="#Differences">Differences between debt settlement, credit repair and credit counseling</a></li><li><a href="#How-to">How to choose the right credit repair company</a></li><li><a href="#warnings">Warning signs of a credit repair scam</a></li><li><a href="#DIY">DIY credit repair</a></li><li style="font-weight: 400"><a href="#How-fix"><span style="font-weight: 400">How to fix my credit</span></a></li><li><a href="#Latest-news">Latest news</a></li></ul><h3>What is credit repair?</h3><p>Credit repair is the process of improving one’s credit history and score. It often involves reviewing your credit history for inaccuracies and disputing them with the credit bureaus (Experian, Equifax and TransUnion).</p><p>You can repair your <a href="https://money.com/what-is-a-credit-report/">credit report</a> yourself for free. Additionally, you could consider hiring a credit repair company, which reviews your reports for mistakes and disputes them by contacting the credit bureaus on your behalf.</p><p>Taking the time to repair your credit can raise your <a href="https://money.com/what-is-a-credit-score/">credit score</a>, which can improve your approval odds for the <a href="https://money.com/best-credit-cards/">best credit cards</a> and loans, and help you qualify for more favorable interest rates.</p><h3>How does credit repair work?</h3><p>Whether you do it yourself or hire a company, credit repair usually involves:</p><ul><li>Requesting your credit reports from the main credit bureaus</li></ul><ul><li>Reviewing them for inaccurate information</li></ul><ul><li>Filing a dispute with the credit bureau that generated the erroneous report</li></ul><p>Under the <a href="https://money.com/what-is-the-fair-credit-reporting-act-fcra/">Fair Credit Reporting Act</a> (FRCA), you have the right to dispute any information you believe is inaccurate. The <a href="https://money.com/what-are-credit-reporting-agencies/">credit reporting agencies</a> must investigate within 30 days and delete the item from your report if found to be erroneous. They are also required to send you the results of the investigation within five business days of completing it.</p><p>Note that you (and credit repair companies) can only remove inaccurate information from your credit report. If your report doesn’t have errors, you should focus on paying your bills on time, keeping a low credit utilization ratio and reducing your total debt. (Check out How to Fix My Credit for more information.)</p><h3>How do credit repair companies work?</h3><p>Each credit repair company has its own way of doing things, but most of them follow a four-step process:</p><h4>Credit consultation</h4><p>The credit repair company will walk you through the credit-repair process and review your credit reports for errors and derogatory marks, like collections and bankruptcies. They may also offer personal finance advice to help you achieve a good credit score.</p><h4>Sign limited power of attorney</h4><p>The company’s representatives will have you sign a contract giving them limited power of attorney, that is, the legal right to act on your behalf.</p><h4>Challenge inaccurate negative items</h4><p>Once you give them the legal authority to do so, the company disputes inaccurate items with your creditors and the major credit bureaus. Errors on your credit report can include tax liens or foreclosures that don’t belong to you, duplicate accounts or outdated information.</p><h4>Progress reports</h4><p>The best credit repair companies will track your disputes’ progress and update you frequently on the status of each disputed item. They will usually send progress reports along with an updated copy of your credit report so you can review the changes.</p><h3>How much does credit repair cost?</h3><p>Credit repair agencies typically charge between $50 to $150 per month, depending on the service plan you choose. They also charge a setup fee (also called initial or first work fee) that’s often a similar price to the monthly subscription.</p><p>This cost generally includes monthly credit report and score analyses and a set number of bureau disputes and creditor interventions. Some companies also provide financial tools like credit score trackers and budgeting software</p><h3>How long does it take to repair your credit?</h3><p>“The amount of time it takes varies greatly depending upon each person’s unique circumstances and other actions they take to improve their credit,” says <a href="https://www.moneymanagement.org/newsroom/speakers-bureau/thomas-nitzsche">Thomas Nitzsche</a>, Sr. Director of Media and Brand for credit counseling agency Money Management International.</p><p>For example, Nitzsche says you may see a credit score increase in around one to three months once errors are disputed and removed from your report. On the other hand, accurate negative items, like late credit card payments, stay on your file for seven years.</p><h4>How long do negative items affect your credit score?</h4><p>The impact of negative information lessens as time goes on. “It is difficult to say how much of an impact different negative items on a report will have, but the older an account is, the less impact it has on a score,” explained Becky House, Director of Strategic Initiatives for credit counseling agency American Financial Solutions.</p><p>Nitzsche also mentioned that how much a negative item lowers your score depends on the individual’s credit profile. For example, the effect should be less drastic if you have other credit lines in good standing. “This is why it’s important to take proactive steps to get trade lines back into good standing or to create new ones reporting positively,” added Nitzsche.</p><p>House also pointed out that lenders can have different guidelines on which negative items they’re willing to accept when evaluating a borrower’s credit history. “For instance, one lender may be okay funding a loan for someone who had a negative credit mark three years ago; another lender may have a risk policy that denies loans if someone has that information on their credit report.”</p><h3>What you should know before hiring a credit repair company</h3><p>There are some things to keep in mind when you’re trying to rebuild your credit history:</p><h4>Not all negative items can be removed</h4><p>​​A red flag that a company is scamming you is if it guarantees it can remove all negative items from your report. Late payments, <a href="https://money.com/hard-soft-check-credit-report/">hard inquiries</a>, charge-offs, repossessions and debt collections can only be removed if the information is inaccurate or outdated. If a negative item is correct, it generally stays on your report for seven years — and up to 10 years for Chapter 7 bankruptcies.</p><p>For more information on other potential red flags, check out <a href="#warnings">Warning signs of a credit repair scam.</a></p><h4>Deleted items can reappear on your credit report</h4><p>Deleted items can reappear on your report if the bank, credit card company or debt collector reports them to the bureaus again. House mentioned that this usually happens if the reporting company believes the disputed item is valid.</p><p>You (or the credit repair company) can file a new dispute. However, House says it should be reframed or updated to better explain why the information on your report is wrong. You can do so by providing additional documentation to support your claim.</p><h4>You might have to do some of the legwork</h4><p>You may have to provide credit repair agencies with documentation to support disputes of negative information on your credit report.</p><h4>Most companies have setup fees</h4><p>Most credit repair companies charge an initial fee (also called setup or first work fee) that can range anywhere between $15 to $200. This fee is used to set up your account, which may involve gathering your personal and financial information and creating a strategy plan for your particular credit situation.</p><h4>Companies can’t charge you in advance for their services</h4><p>Once you pay the setup fee (if required), companies can’t make any additional charges unless they prove that the services offered to you in their contract are being fulfilled.</p><h4>You have three business days to cancel a contract without incurring any penalties</h4><p>The Credit Repair Organizations Act (CROA) states that you have the right to back out of a contract within three business days of signing it without any charges or cancellation fees.</p><h3>How to choose the right credit repair company</h3><p>These are some factors to keep in mind to avoid credit repair scams:</p><h4>1. Look out for false promises</h4><p>Legitimate credit repair companies will never guarantee they can remove accurate information from your report or promise you a new credit identity, for example.</p><p>For steps on how to deal with negative items that cannot be disputed, read our guide on <a href="https://money.com/repair-bad-credit/">how to repair bad credit</a>.</p><h4>2. Check for Credit Repair Organizations Act (CROA) compliance</h4><p>Make sure the company you choose follows CROA guidelines, which establishes clear directives that legitimate credit repair agencies should follow. According to the CROA, credit repair companies must:</p><ul><li>Provide a written contract explaining their services in detail, including service costs, guarantees and an estimate of how long the process will take</li></ul><ul><li>Give you a copy of the “<a href="https://uscode.house.gov/view.xhtml?req=granuleid%3AUSC-prelim-title15-chapter41-subchapterII-A&num=0&edition=prelim" target="_blank" rel="noopener">Consumer Credit File Rights Under State and Federal Law,</a>” a document that states your right to order credit reports and dispute inaccurate information yourself free of charge</li></ul><h4>3. Read customer reviews</h4><p>You can check sources like Google Reviews, the Better Business Bureau (BBB) and Yelp to gauge customer experience. If you read multiple reviews alleging similar types of issues, you can consider it a red flag. However, we recommend complementing what you read with further research since many people post reviews when they’re unhappy with a service, not when they’re satisfied.</p><h4>4. Check the regulatory agencies</h4><p>When searching for the right credit repair company for you, it’s a good idea to check the Consumer Financial Protection Bureau (CFPB) <a href="https://www.consumerfinance.gov/data-research/consumer-complaints/" target="_blank" rel="noopener">complaint database</a> and check how many complaints — if any — have been filed against that particular provider.</p><h4>5. Compare fees and prices</h4><p>Reputable credit repair companies will list their prices and services clearly, so consumers can select the right package for their needs.</p><h4>6. Look for personal finance tools</h4><p>Besides their standard credit repair services, some credit repair agencies offer personal finance tools like bill reminders, budgeting software and credit monitoring. Additionally, they may offer free credit consultations, satisfaction guarantees and <a href="https://money.com/best-identity-theft-protection/">identity theft protection</a> services.</p><h3>When to consider a credit counseling service</h3><p>If you have bad credit, Thomas Nitzsche from Money Management International recommends contacting a credit counseling service as soon as possible. He emphasized that consumers shouldn’t wait until they need to raise their score (such as before buying a house or car) to get help. “Building a good credit score takes time and should be started as soon as someone is aware they have bad credit.”</p><p>A credit counseling service can help you improve your financial situation overall, not just dispute credit report mistakes. “They work with people to address their entire financial picture as well as the person’s goals. The goal is to have a sustainable budget, repayment structure for debts and build or rebuild a positive credit history,” noted Becky House from American Financial Solutions.</p><p>Keep in mind that a credit counseling service won’t dispute errors on your behalf. However, Nitzsche mentioned that they can offer advice on how to do it yourself and how to build your credit moving forward.</p><p>Additionally, credit counselors offer resources and workshops on budgeting, <a href="https://money.com/understanding-debt-consolidation/">debt consolidation</a>, <a href="https://money.com/what-is-a-debt-management-plan/">debt management plans (DMP)</a>, bankruptcy, housing and more.</p><p>Note that credit counseling services are usually non-profit, but some of their services do carry a small fee of up to around $50. If you’re interested in consulting a credit counselor, you can find a certified one through the <a href="https://www.nfcc.org/" target="_blank" rel="noopener">National Foundation for Credit Counseling</a>.</p><h4>Differences between debt settlement, credit repair and credit counseling</h4><p>Debt settlement, credit repair and credit counseling are all in the personal finance sphere, but it’s important to note the key differences between the three methods.</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col width="26%" /><col width="26%" /><col width="26%" /></colgroup><thead><tr><th><p style="text-align: left">Debt settlement service</p></th><th><p style="text-align: left">Credit repair service</p></th><th><p style="text-align: left">Credit counseling service</p></th></tr></thead><tbody><tr><td align="center"><p style="text-align: left">For-profit service</p></td><td align="center"><p style="text-align: left">For-profit service</p></td><td align="center"><p style="text-align: left">Non-profit, but may charge a small fee for some services</p></td></tr><tr><td align="center"><p style="text-align: left">Negotiates with your lenders so you can pay a reduced amount</p></td><td align="center"><p style="text-align: left">Identifies and repairs mistakes on your credit report</p></td><td align="center"><p style="text-align: left">Provides debt and money management advice</p></td></tr><tr><td align="center"><p style="text-align: left">Involves stopping debt payments until a settlement is reached</p></td><td align="center"><p style="text-align: left">Communicates with creditors and reporting bureaus to fix credit report errors</p></td><td align="center"><p style="text-align: left">May negotiate better loan terms with your creditors, lower monthly payments</p></td></tr><tr><td align="center"><p style="text-align: left">Will impact credit negatively for up to 7 years</p></td><td align="center"><p style="text-align: left">Improves credit by removing reporting mistakes</p></td><td align="center"><p style="text-align: left">Can help you set up a personalized debt repayment strategy to improve credit</p></td></tr><tr><td align="center"><p style="text-align: left">Can hurt chances of getting loans or credit cards for some time</p></td><td align="center"><p style="text-align: left">Increases the possibility of being approved for loans and credit cards</p></td><td align="center"><p style="text-align: left">Increases the possibility of being approved for loans and credit cards</p></td></tr><tr><td align="center"><p style="text-align: left">Best to consider it as a last resort</p></td><td align="center"><p style="text-align: left">Best for those who need help removing mistakes from their report</p></td><td align="center"><p style="text-align: left">Best if you're having trouble making on-time payments or paying down debt</p></td></tr></tbody></table><hr><h3>Warning signs of a credit repair scam</h3><p>The credit repair industry has its share of controversies and scams. With this in mind, it’s important to recognize red flags that indicate a company might be engaging in questionable practices.</p><p>According to the <a href="https://files.consumerfinance.gov/f/documents/092016_cfpb_ConsumerAdvisory.pdf">Consumer Financial Protection Bureau</a> (CFPB), a credit repair company might be deceiving you if it:</p><ul><li>Asks for upfront fees before it provides any services</li></ul><ul><li>Claims it can remove all negative information from your report, even if it’s accurate and up-to-date</li></ul><ul><li>Advises you to dispute correct information in your credit report</li></ul><ul><li>Says you shouldn’t contact the credit bureaus yourself</li></ul><ul><li>Doesn’t inform you of your rights, including the ability to cancel your contract with the company within three business days after signing it</li></ul><ul><li>Doesn’t provide a written contract outlining details such as service costs and guarantees</li></ul><ul><li>Asks you to waive any of your rights under the CROA</li></ul><ul><li>Offers you a “new” credit identity or profile</li></ul><p>You should be particularly wary of companies that guarantee they can remove accurate collections from your credit report, as House warned that this action could lead to a potential lawsuit.</p><p>“We have seen this trigger lawsuits against consumers that resulted in garnishments. The person owed the debt, was advised to dispute it and did, and the collection agency then filed suit to obtain a garnishment,” House explained.</p><h3>DIY credit repair</h3><p data-pm-slice="1 1 []">Credit repair companies are helpful if you can afford the service and don’t have the time to dispute the items. However, it’s important to note that you can repair credit issues yourself at no cost. There are also<a href="https://money.com/7-ways-to-improve-credit-score/"> ways to improve your credit score</a> without the help of a credit repair agency.</p><p>Here are some steps you should take to repair your credit:</p><ul><li>Request free credit reports from each of the three main credit bureaus at <a href="https://www.annualcreditreport.com/index.action" target="_blank" rel="noopener">AnnualCreditReport.com</a> (you can get a<a href="https://www.annualcreditreport.com/yourRights.action" target="_blank" rel="noopener"> free credit report</a> weekly)</li></ul><ul><li>Examine your reports for any discrepancies, on-time payments labeled as late or accounts that don’t belong to you</li></ul><ul><li>If you spot an error, visit the reporting bureau’s website and file an online dispute</li></ul><ul><li>Include with your dispute supporting documentation (like bank statements) that proves the items your disputing are inaccurate</li></ul><p>Credit bureaus must investigate disputed items within 30 days and delete it from your report if found to be erroneous. They might also delete items from your report if the creditor or collection agency can’t validate the debt and is unable to provide evidence that it belongs to you.</p><p>If you’re up to the task, the first step is to learn <a href="https://money.com/how-to-read-your-credit-report/">how to read your credit report</a>. Once you do, check out our guide on <a href="https://money.com/get-items-removed-from-credit-report/">how to remove items from your credit report</a>.</p><h3>How to fix my credit</h3><p>Fixing your credit goes beyond checking your report for errors. “It is important for consumers to address negative items on a credit report. However, simply eliminating negative items is not necessarily going to move a score,” noted House.</p><p>“Consumers should be careful to make on-time payments moving forward. They should also keep revolving credit line balances under one-third of their available limit,” added Nitzsche. He also recommends establishing credit lines that can help report a positive payment history to your file, like a secured credit card or credit-builder loan.</p><p>Read on to understand why these measures can help improve your creditworthiness.</p><h4>1. Make timely payments</h4><p>The first step is to consistently pay your bills on time because your payment history is the most important factor evaluated by credit scoring models. A 30-day late payment can lower your score by as much as 100 points, and the impact on your creditworthiness is worse if you’re 60 or 90 days past due.</p><h4>2. Lower your credit utilization ratio</h4><p>Your credit utilization ratio is the percentage of your available credit you’re actually using.. Experts often recommend keeping it below 30%, to show lenders that you’re not over-relying on your credit cards.</p><p>However, keeping it under 10% is even better. According to <a href="https://www.fico.com/blogs/perfect-credit-score-understanding-850-fico-score" target="_blank" rel="noopener">FICO</a>, consumers with an 850 credit score (the highest achievable credit score) use around 4% of their available credit limit.</p><h4>3. Reduce your overall debt</h4><p>Reducing your outstanding balances lowers your credit utilization ratio. This can increase your approval odds for new loans and cards by decreasing your debt-to-income (DTI) ratio.</p><p>Your DTI ratio represents your monthly debt obligations divided by your gross monthly income, and experts recommend keeping it at or below 36%. Keeping it low shows lenders you can afford to take on new credit.</p><p>For tips on reducing debt, check out our guide <a href="https://money.com/how-much-is-too-much-debt/">How much is too much debt</a>.</p><h4>4. Get a secured credit card</h4><p>If you don’t currently qualify for most credit cards, consider applying for a secured one. Secured credit cards have higher approval odds because they require a security deposit that acts as collateral if you don’t make your monthly payments.</p><p>Using a secured card and paying it on time will help you improve your credit score so you can qualify for better cards and loans in the long run.</p><p>Check out our list of the <a href="https://money.com/best-credit-cards-to-build-credit/">Best Credit Cards To Build Credit</a> for more information.</p><h4>5. Consider a credit-builder loan</h4><p>Getting a credit-builder loan and paying it on time could improve your score.</p><p>These types of loans are easier to qualify for individuals with a limited credit history or a low credit score. This is because you gain access to the funds only after settling the loan, which safeguards lenders if you are unable to meet your monthly payments.</p><p>Most lenders offer credit-builder loans between $500 and $2,000, although some lenders offer as much as $5,000. Keep in mind that, like other loans, they charge an annual percentage rate (APR). It typically ranges from 6% to 16%, but some lenders refund the interest charges you paid at the end of the loan term.</p><h3>The Cost Of Lower Credit Scores</h3><p>Bad credit impacts your finances in more ways than you might think. The effects of having less-than-stellar credit aren’t just measured in terms of your ability to gain access to credit but also in how much that access costs you.</p><p>While some companies will approve borrowers with fair to poor credit, they will do so at a higher interest rate. This means that the lower your credit score, the more expensive loans will be.</p><p>Let’s run through a breakdown of how much interest you can expect to pay based on your credit score range. In this example, we’ll assume a 30-year fixed-rate mortgage loan for $400,000, which is close to the median of home prices in the U.S.</p><p>Take a look at this example to see how the difference between excellent credit and fair credit can cost you upwards of $150,000 over the life of a 30-year loan:</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col width="20%" /><col width="20%" /><col width="20%" /><col width="20%" /></colgroup><thead><tr><th><p>FICO Score</p></th><th><p>APR</p></th><th><p>Monthly Payment</p></th><th><p>Total Interest Paid</p></th></tr></thead><tbody><tr><td align="center"><p>760-850</p></td><td align="center"><p>6.761 %</p></td><td align="center"><p>$2,597</p></td><td align="center"><p>$535,034</p></td></tr><tr><td align="center"><p>700-759</p></td><td align="center"><p>6.983 %</p></td><td align="center"><p>$2,657</p></td><td align="center"><p>$556,392</p></td></tr><tr><td align="center"><p>680-699</p></td><td align="center"><p>7.16 %</p></td><td align="center"><p>$2,704</p></td><td align="center"><p>$573,559</p></td></tr><tr><td align="center"><p>660-679</p></td><td align="center"><p>7.374 %</p></td><td align="center"><p>$2,762</p></td><td align="center"><p>$594,474</p></td></tr><tr><td align="center"><p>640-659</p></td><td align="center"><p>7.804 %</p></td><td align="center"><p>$2,881</p></td><td align="center"><p>$637,012</p></td></tr><tr><td align="center"><p>620-639</p></td><td align="center"><p>8.35 %</p></td><td align="center"><p>$3,033</p></td><td align="center"><p>$691,964</p></td></tr><tr><td colspan="4"><p><em>* Based on a 30-year fixed-rate mortgage loan for $400,000</em></p></td></tr></tbody></table><hr><h2>Latest News on Credit Repair</h2><ul><li>Check out <a href="https://money.com/home-insurance-more-expensive-low-credit-score/">Americans With Bad Credit Pay 35% More for Home Insurance</a> to learn how bad credit can impact your insurance premiums.</li></ul><ul><li>American’s credit scores are dropping compared to last year. Read more about it on <a href="https://money.com/credit-score-trouble-increase-subprime-borrowers/">Credit Score Trouble: 1.2 Million More Americans Just Became ‘Subprime Borrowers’</a></li></ul><ul><li>Credit card debt is reaching an all-time high. Read more about it on <a href="https://money.com/credit-card-debt-record/">Americans Have Never Been So Far Behind on Their Credit Card Bills</a>.</li></ul><ul><li>Here’s a list of tips on <a href="https://money.com/how-to-get-a-home-equity-loan-with-bad-credit/">How to Get a Home Equity Loan With Bad Credit</a>.</li></ul><hr><h2>Credit Repair FAQs</h2><h3>What is a good credit score?</h3><p>A good FICO score falls within the range of 670 to 739. For VantageScores, the "good" range is between 661 and 780. Anything above that is considered very good or excellent. </p><h3>How to remove a charge-off from your credit report</h3><p>If the charge-off is an error, you can dispute it directly with the credit bureaus or hire a credit repair company to complete the process for you. However, if the charge-off is accurate, you'll likely have to wait seven years for the negative item to fall off your credit report.</p><h3>What is a bad credit score?</h3><p>Bad credit scores often fall within the fair or poor range of credit scoring models. In the FICO scoring model, scores between 580 and 669 are fair, and anything below 580 is poor. In the VantageScore range, anything between 601 and 660 is fair and below 601 is poor. </p><h3>How to fix your credit</h3><p>You can fix your credit on your own, but it will take time, effort and patience. Review each of your credit reports from Experian, TransUnion and Equifax for errors or information that's more than seven years old. If you find any, file a dispute with the credit bureau and contact your creditor. They are legally obligated to investigate and eliminate inaccurate information from your report, at no charge to you.</p><h3>How long does it take to repair credit?</h3><p>The credit repair process does take time, and the amount of time it takes can depend on whether the items that are causing a low score are correct or not. If there are mistakes in your credit that can be corrected by disputing them with the bureaus, the repair process can take a few months. If the factors that are impacting your credit are correct, the process can take a year or more and involves reducing your credit card debt, lowering your credit utilization ratio and more.</p><h3>Does credit repair work?</h3><p>Credit repair services can help you remove inaccurate or outdated negative marks from your credit report. However, if your credit report is correct, you'll have to improve your credit yourself or attend credit counseling. Also, note that you can remove credit reporting mistakes on your own for free by submitting disputes with each credit bureau.</p><hr><h2>How We Chose the Best Credit Repair Companies of May 2024</h2><p>Since we first started reviewing credit repair companies in 2016, we’ve spent thousands of hours researching the industry and vetting its major players.</p><p>As part of this research, members of our editorial staff have sought out first-hand experience with some of the names included in our list. Additionally, we re-evaluate our top picks every month to provide readers with the most up-to-date information on both these services and credit repair in general.</p><p>To choose the best credit repair companies, we evaluated the following factors:</p><p><strong>Transparency:</strong> We considered whether companies provided clear, upfront information about their prices, fees, services, guarantees, terms and conditions and privacy policies.</p><p><strong>Pricing and discounts:</strong> We compared companies’ service plans based on cost, favoring providers that offered multiple options at several price points. We also considered their setup fees, also known as first-work fees. We also noted any available discounts, such as for couples or service members.</p><p><strong>Services:</strong> All credit repair services claim to review and dispute inaccurate and/or outdated information that’s affecting your credit history. However, we favored companies that offered a variety of services tailored to different budgets and that also offered additional services, such as free credit consultations, creditor interventions and cease and desist or goodwill letters.</p><p><strong>Financial tools:</strong> We checked whether companies offered financial tools that might help consumers improve their credit, such as a credit score tracker, monthly credit reports and/or identity theft monitoring.</p><p><strong>Client portal:</strong> Companies that offered a portal or app for clients to track their dispute status and credit repair progress stood out from the competition.</p><p><strong>Money-back guarantee and cancellation policy:</strong> We favored companies that offered refunds or guarantees if they couldn’t remove or correct errors from your credit report within 90 days. We also preferred companies that didn’t charge cancellation fees.</p><p><strong>Customer Support:</strong> We preferred companies that offered several contact options like online chat, support forms and email, which can improve their responsiveness to customer issues or complaints.</p><p><strong>User experience:</strong> Beyond pricing and services, we also took into account the ease of use of each company website and if the information provided was up to date.</p><p><strong>Service area:</strong> We considered the number of states where the companies operate and prioritized those that are available nationwide.</p><p><strong>Company history:</strong> Our top picks are reputable credit repair services that have been around for more than ten years and garner mostly positive customer reviews across different platforms.</p><p><strong>Customer satisfaction:</strong> We checked reviews across third-party review websites, such as the Better Business Bureau, to gauge customer satisfaction and any patterns of complaints regarding a company’s services.</p><p><strong>Regulatory actions:</strong> We looked for any history of Federal Trade Commission (FTC) violations and searched the Consumer Financial Protection Bureau (CFPB) Database to check these companies’ history of customer complaints or enforcement actions.</p><h2>Sources Used</h2><ol><li><a href="https://www.ftc.gov/" target="_blank" rel="noopener">Federal Trade Commission (FTC)</a></li><li><a href="https://www.consumerfinance.gov/" target="_blank" rel="noopener">Consumer Financial Protection Bureau (CFPB)</a></li><li><a href="https://www.annualcreditreport.com/index.action" target="_blank" rel="noopener">AnnualCreditReport.com</a></li></ol><h2>Summary of Money’s Best Credit Repair Companies of May 2024</h2><p>The companies listed below are in alphabetical order.</p><ul><li><a href="#creditpeople">The Credit People</a> – Best for Low Setup Fees</li><li><a href="#creditpros">The Credit Pros</a> – Best Bonus Features</li><li><a href="#creditsaint">Credit Saint</a> – Best Overall</li><li><a href="#credit-versio">Credit Versio</a> – Best for DIY Credit Repair</li><li><a href="#lexlaw">Lexington Law</a> – Credit Repair Industry Leader</li><li><a href="#skyblue">Sky Blue Credit</a> – Best Value</li></ul><hr><p><a href="https://www.youtube.com/watch?v=O13xgYUocUw" target="_blank">Best Credit Repair Companies</a></p><hr>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5940874</post-id> <media:thumbnail url="https://img.money.com/2023/12/Best-Credit-Repair-mbci_mb6w3__bhv7ew.jpg?quality=85" /> <media:content url="https://img.money.com/2023/12/Best-Credit-Repair-mbci_mb6w3__bhv7ew.jpg?quality=85" medium="image"> <media:title type="html">Best-Credit-Repair</media:title> </media:content> </item> <item> <title>9 Best Pet Insurance Companies of May 2024</title> <link>https://money.com/best-pet-insurance/?xid=moneyrss</link> <dc:creator><![CDATA[ and ]]></dc:creator> <pubDate>Tue, 30 Apr 2024 19:55:21 +0000</pubDate> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5940868</guid> <description><![CDATA[Money reviews the best pet insurance for 2024.]]></description> <content:encoded><![CDATA[<hr /><h3>Best Pet Insurance Main Takeaways</h3><ul><li>Spot features unlimited coverage without age caps</li><li>Figo offers 100% reimbursement and unlimited payouts</li><li>AKC is the best option for pre-existing conditions</li><li>Pumpkin offers an excellent preventive pet care package</li></ul><p><a href="https://secure.money.com/pr/v9b61b2a2667?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=v9b61b2a2667&type=image" /></a></p><hr><div class="m00646-mc-why-trust-us"><div class="why-content"><h3>Why Trust Us?</h3><div class="why-content-txt"><p data-pm-slice="1 1 []">At Money Magazine, we have been helping readers navigate personal finance since 1972. Our editors and writers evaluate insurance companies independently, ensuring our content is precise and guided by editorial integrity. <a href="#how">Read the full methodology to learn more.</a></p><ul><li>Based on <strong>50+ </strong>data points</li><li>Reviewed <b>19</b> insurers</li><li><strong>1,000+</strong> hours of research</li></ul></div></div></div><hr><h2>Our Top Picks for Best Pet Insurance of May 2024</h2><ul><li><a href="#embrace">Embrace</a> – Best for International Coverage</li><li><a href="#spot">Spot</a> – Best for Unlimited Coverage</li><li><a href="#metlife">MetLife</a> – Best for Multiple Pets</li><li><a href="#pumpkin">Pumpkin</a> – Best for Puppies and Kittens</li><li><a href="#akc">AKC</a> – Best for Pre-Existing Conditions</li><li><a href="#figo">Figo</a> – Best for Reimbursement Options</li><li><a href="#petsbest">Pets Best</a> – Best for Treatment of Mobility Issues</li><li><a href="#lemonade">Lemonade</a> – Best for Fast Claims Processing</li><li><a href="#nationwide">Nationwide</a> – Best for Exotic Pets</li></ul><p><a href="https://secure.money.com/pr/x26462624330?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=x26462624330&type=image" /></a></p><h2>Best Pet Insurance Company Reviews</h2><hr /><p><a href="https://secure.money.com/pr/j7ec2bc1f99d?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=j7ec2bc1f99d&type=image" /></a></p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col span="2" style="width:50%" /></colgroup><tbody><tr><td><p>Plan options</p></td><td>Accident and illness, accident-only</td></tr><tr><td><p>Annual payout limit</p></td><td><p>$5K, $8K, $10K, $15K or $30K</p></td></tr><tr><td><p>Reimbursement rates</p></td><td><p>70%, 80% or 90%</p></td></tr><tr><td><p>Annual deductible</p></td><td><p>$100, $250, $500, $750 or $1K</p></td></tr><tr><td><p>Waiting periods</p></td><td>14 days for illnesses</td></tr><tr><td><p>Discounts</p></td><td><p>10% multi-pet, 5% military and 5% to 10% healthy pet</p></td></tr></tbody></table><hr><hr><h3>Pros</h3><ul><li>High upper age limit for enrollment</li><li>High annual reimbursement limit option compared to other competitors with annual caps</li><li>Includes up to six months of pet travel insurance</li></ul><h3>Cons</h3><ul><li>Limited wellness benefits</li><li>Caps dental illness coverage at $1,000 a year</li><li>Patellar luxation and hip dysplasia are excluded for six months</li></ul><hr><hr><div class="m00646-mc-why-trust-us"><div class="why-content"><h3>Read our review</h3><div class="why-content-txt"><hr /><p><strong>Why we chose Embrace</strong></p><p>Embrace pet insurance is one of the few companies that offer a discount for keeping your pet healthy. If you don't exceed $300 in claims per pet per year prior to the discount period, you can earn 5% off your monthly premium the first year you qualify. The discount increases to 10% if you also qualify the following year.</p><hr /><p><strong>What we like</strong></p><p>Embrace offers comprehensive coverage that is on par with the best pet insurance providers on the market. The company will reimburse you for the diagnosis and treatment of most accidents and illnesses that aren't pre-existing. This includes exam fees, diagnostics, medication, surgery, ambulance and hospitalization, if necessary. Embrace is also the insurer behind USAA Pet Insurance, a members-only insurance product. Military members, veterans and eligible relatives can access all of Embrace’s pet insurance benefits at a 25% discount.</p><hr /><p><strong>What we don't like</strong></p><p>Embrace caps dental illness coverage is at $1,000 per year. An extended waiting period of six months applies to Intervertebral Disk Disease (IVDD), cruciate ligament injuries, patellar luxation and hip dysplasia. Finally, there's no coverage for natural supplements, vitamins or food</p><p>Read <a href="https://money.com/embrace-pet-insurance-review/">Embrace Pet Insurance Review</a> >></p><p>See rates on <a href="https://secure.money.com/pr/t5e6c54b811e?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-pet-insurance%252F">Embrace's Secure Website</a> >></p></div></div></div><hr><hr /><p><a href="https://secure.money.com/pr/abe19974de10?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=abe19974de10&type=image" /></a></p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col span="2" style="width:50%" /></colgroup><tbody><tr><td><p>Plan options</p></td><td><p>Accident and illness, accident-only, wellness rider</p></td></tr><tr><td><p>Annual payout limit</p></td><td><p>$2.5K, $3K, $5K, $7K, $10K or unlimited</p></td></tr><tr><td><p>Reimbursement rates</p></td><td><p>70%, 80% or 90%</p></td></tr><tr><td><p>Annual deductible</p></td><td><p>$100, $250, $500, $750 or $1K</p></td></tr><tr><td><p>Waiting periods</p></td><td><p>14 days for accidents and illnesses</p></td></tr><tr><td><p>Discounts</p></td><td><p>10% employee, 10% multi-pet</p></td></tr></tbody></table><hr><hr><h3>Pros</h3><ul><li>Unlimited annual coverage available</li><li>No upper age limit</li><li>24/7 telehealth helpline</li><li>Pet owners have 270 days (around eight months) to file a claim</li></ul><h3>Cons</h3><ul><li>Higher-than-average premiums for young pets</li><li>Charges transaction fees for monthly, quarterly or semi-annual payments</li></ul><hr><hr><div class="m00646-mc-why-trust-us"><div class="why-content"><h3>Read our review</h3><div class="why-content-txt"><hr /><p><strong>Why we chose Spot</strong></p><p>We picked Spot as the best for unlimited coverage because it caters to pet parents who want to maximize their pet’s coverage, no matter the cost. Spot is also a fine choice for older pets since there’s no age limit for coverage.</p><hr /><p><strong>What we like</strong></p><p>Offering a full (100%) coverage option, Spot readily allows you to maximize your pet’s coverage, meaning you are not responsible for any co-payment. In addition, the company offers a very low ($100) deductible option, which further reduces your out-of-pocket payments for care. That said, choosing one or both of a low co-payment and a low deductible will lead to higher premiums for the policy.</p><hr /><p><strong>What we don't like</strong></p><p>Unlimited annual coverage comes at a high cost and Spot’s prices are already higher than the norm for young pets.</p><p>Read <a href="https://money.com/spot-pet-insurance-review/">Spot Pet Insurance Review</a> >></p><p>See rates on <a href="https://secure.money.com/pr/b305b163f3f4?ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F">Spot's Secure Website >></a></p></div></div></div><hr><hr /><p class="p1"><a href="https://secure.money.com/pr/t0ac4a4a11a0?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=t0ac4a4a11a0&type=image" /></a></p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col span="2" style="width:50%" /></colgroup><tbody><tr><td>Plan options</p></td><td>Accident and illness</p></td></tr><tr><td><p>Annual payout limit</p></td><td>$1,000 to $25,000</p></td></tr><tr><td>Reimbursement rates</p></td><td>$50, 65%, 70%, 80%, 90%</td></tr><tr><td><p>Annual deductible</p></td><td>$0 to $2,500</td></tr><tr><td>Waiting periods</td><td>14 days for illnesses, 1 day for accidents, 6 months for orthopedic conditions</td></tr><tr><td>Discounts</td><td>Multi-pet discount and diminishing deductible</td></tr></tbody></table><hr><hr><h3>Pros</h3><ul><li>Fast accident-only coverage</li><li>Low and no-deductible plans available</li><li>24/7 telehealth service</li><li>Diminishing deductible </li></ul><h3>Cons</h3><ul><li>No standalone accident-only plan</li><li>Terms and conditions vary by underwriter</li><li>6-month waiting period for cruciate ligament problems applies in some states</li></ul><hr><hr><div class="m00646-mc-why-trust-us"><div class="why-content"><h3>Read our review</h3><div class="why-content-txt"><hr /><p><strong>Why we chose Metlife</strong></p><p>With MetLife, pet owners with multiple pets don’t have to stress about meeting a separate deductible for each animal. Policyholders can enroll up to three animals under one plan and each eligible vet visit contributes towards the same deductible. Once the deductible is met, every pet is eligible for coverage for the remainder of the year.</p><hr /><p><strong>What we like</strong></p><p>MetLife’s coverage terms are much more flexible than other providers on the market. Pet owners can select a deductible ranging from $0 to $2,500 and an annual limit between $1,000 and $25,000. In addition to standard coverage for diagnosis, surgery, hospitalization and medications, MetLife pet insurance covers exam fees, physical therapy, take-home prescriptions and alternative therapies at no extra cost. Policyholders can also get reimbursed if they need to board their pet or post a reward in the event the animal is lost or stolen.</p><hr /><p><strong>What we don't like</strong></p><p>MetLife pet insurance policies are available in all 50 states. However, certain terms and benefits may change depending on which underwriter issues policies in your area, Metropolitan General Insurance Company (MetGen) or Independence American Insurance Company (IAIC). MetLife also enforces a six month waiting period for cruciate ligament issues and other orthopedic conditions without the option to qualify for a waiver.</p><p>Read <a href="https://money.com/metlife-pet-insurance-review/">Metlife Pet Insurance Review</a> >></p><p>See rates on <a href="https://secure.money.com/pr/ka037ca832a4?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-pet-insurance%252F">Metlfie's Secure Website >></a></p></div></div></div><hr><hr /><p><a href="https://secure.money.com/pr/s16928e48977?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=s16928e48977&type=image" /></a></p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col span="2" style="width:50%" /></colgroup><tbody><tr><td><p>Plan options</p></td><td><p>Accident and illness, wellness rider</p></td></tr><tr><td><p>Annual payout limit</p></td><td><p>$10K, $20K or unlimited</p></td></tr><tr><td><p>Reimbursement rates</p></td><td><p>90%</p></td></tr><tr><td><p>Annual deductible</p></td><td><p>$100, $250, $500 or $1K</p></td></tr><tr><td><p>Waiting periods</p></td><td><p>14 days for accidents and illnesses</p></td></tr><tr><td><p>Discounts</p></td><td><p>10% multi-pet</p></td></tr></tbody></table><hr><hr><h3>Pros</h3><ul><li>Preventive care packages for the particular needs of puppies and kittens</li><li>No upper age limit</li><li>Short (14-day) waiting period for all health conditions, including knee and hip dysplasia</li><li>Covers exam fees at no extra cost</li></ul><h3>Cons</h3><ul><li>No customizable reimbursement levels</li><li>No accident-only option</li><li>Preventive plan doesn't cover spay/neuter or dental cleanings</li><li>Most expensive option in our survey</li></ul><hr><hr><div class="m00646-mc-why-trust-us"><div class="why-content"><h3>Read our review</h3><div class="why-content-txt"><hr /><p><strong>Why we chose Pumpkin</strong></p><p>Pumpkin is our pick as the best for puppies and kittens because it offers extensive insurance and non-insurance preventive care options tailored to junior animals.</p><hr /><p><strong>What we like</strong></p><p>Pumpkin's puppy preventive care pack includes one annual wellness exam fee, four puppy vaccines and one yearly fecal test. It will also refund the cost of up to four vaccines your puppy may have received prior to being insured under the preventive pack, as well as cover lab tests for parasites.</p><p>Pumpkin offers comprehensive accident and illness coverage with some standout benefits: microchip implantation, stem cell therapy and a pet poison control consultation fee. Pet owners are free to call the ASPCA Poison Control Center or the Pet Poison Helpline (and maybe save themselves a trip to the emergency room) without worrying about paying $85-$95 for the phone call.</p><hr /><p><strong>What we don't like</strong></p><p>Pumpkin charges some of the highest premiums out of all the companies we surveyed. And customers can't customize the reimbursement rate in order to find a rate that suits their budget. </p><p>Read <a href="https://money.com/pumpkin-pet-insurance-review/">Pumpkin Pet Insurance Review >></a> </p><p>See rates on <a href="https://secure.money.com/pr/e1cc9829ac05?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-pet-insurance%252F">Pumpkin's Secure Website >></a></p></div></div></div><hr><hr /><p class="p1"><a href="https://secure.money.com/pr/fd6571659cce?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=fd6571659cce&type=image" /></a></p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col span="2" style="width:50%" /></colgroup><tbody><tr><td><p>Annual payout limit</p></td><td><p>$2.5K, $5K, $7.5K,$10K, $15K, 20K, Unlimited</p></td></tr><tr><td><p>Reimbursement rates</p></td><td><p>70%, 80%, 90%</p></td></tr><tr><td><p>Annual deductible</p></td><td><p>$100, $250, $300, $400, $500, $600, $750, $1K</p></td></tr><tr><td><p>Waiting periods</p></td><td><p>2 days for accidents, 14 days for illnesses</p></td></tr><tr><td><p>Discounts</p></td><td><p>5% multi-pet</p></td></tr></tbody></table><hr><hr><h3>Pros</h3><ul><li>Accident-only plan option available</li><li>Direct payments to vets available under certain conditions</li><li>Offers supplemental accident and illness coverage for breeding pets</li></ul><h3>Cons</h3><ul><li>Coverage for congenital and hereditary conditions costs extra</li><li>No dental coverage except tooth extractions due to injury</li><li>6-month waiting period for orthopedic conditions coverage</li></ul><hr><hr><div class="m00646-mc-why-trust-us"><div class="why-content"><h3>Read our review</h3><div class="why-content-txt"><hr /><p><strong>Why we chose AKC</strong></p><p>We picked AKC as the best for dogs and cats with pre-existing conditions because it’s the only provider that covers illnesses and injuries sustained before the policy's effective date or during the waiting period.</p><hr /><p><strong>What we like</strong></p><p>The American Kennel Club’s (AKC) pet insurance policy offers unprecedented coverage for pre-existing conditions. To qualify, you must keep the policy active for 365 days. Any pre-existing issue that was initially excluded will be fully covered once the waiting period elapses and the policy renews. You can also pay extra for preventive care and coverage for end-of-life expenses, veterinary exam fees, behavioral therapy and issues related to breeding.</p><hr /><p><strong>What we don't like</strong></p><p>Pet owners should note some limitations regarding AKC’s coverage. There’s no coverage for dental illnesses, and hereditary and congenital conditions aren’t covered unless you purchase the HereditaryPlus rider. Residents of Florida, California and Washington must enroll their pet before its second birthday to qualify for this add-on.</p><p>Read <a href="https://money.com/akc-pet-insurance-review/">AKC Pet Insurance Review >></a></p><p>See rates on <a href="https://secure.money.com/pr/q63543b61d89?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-pet-insurance%252F">AKC Pet Insurance's Secure Website >></a></p></div></div></div><hr><hr /><p><a href="https://secure.money.com/pr/t4101396920b?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=t4101396920b&type=image" /></a></p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col span="2" style="width:50%" /></colgroup><tbody><tr><td><p>Plan options</p></td><td><p>Accident and illness, wellness rider</p></td></tr><tr><td><p>Annual payout limit</p></td><td><p>$5K,$10K or unlimited</p></td></tr><tr><td><p>Reimbursement rates</p></td><td><p>70%, 80%, 90% or 100%</p></td></tr><tr><td><p>Annual deductible</p></td><td><p>$100, $250, $500, $750 or $1K</p></td></tr><tr><td><p>Waiting periods</p></td><td><p>1 day for accidents, 14 days for illnesses</p></td></tr><tr><td><p>Discounts</p></td><td><p>5% multi-pet</p></td></tr></tbody></table><hr><hr><h3>Pros</h3><ul><li>Up to 100% reimbursement with no annual limits</li><li>No upper age enrollment limit</li><li>Low deductible options</li><li>Most affordable premiums</li><li>1-day waiting period for accidents</li></ul><h3>Cons</h3><ul><li>No coverage on hereditary conditions if the pet is enrolled after 2nd birthday</li><li>Low payout limits in wellness plan</li><li>Vet exam fees and physical therapy coverage require separate riders</li></ul><hr><hr><div class="m00646-mc-why-trust-us"><div class="why-content"><h3>Read our review</h3><div class="why-content-txt"><hr /><p><strong>Why we chose Figo</strong></p><p>Most competitors only offer up to 90% reimbursement. Figo stands out as the best for reimbursement options because pet owners can choose up to 100% reimbursement without annual payout limits and avoid copayments entirely.</p><hr /><p><strong>What we like</strong></p><p>Figo offers pet owners the option to reduce their copayment to 0%, thanks to its 100% reimbursement option. (Generally, the lowest copayment provided by other insurers is 10%.)</p><p>The company also offers several endorsements that add coverage for pet boarding, lost or stolen pets (advertising costs and the value of the pet if it isn't found) and pet liability insurance.</p><p>Figo’s Pet Cloud app features comprehensive mobile support. With the app, you can contact a licensed veterinarian 24/7, manage your pet’s insurance documents and make payments, among other transactions.</p><hr /><p><strong>What we don't like</strong></p><p>Figo enforces strict limits on its coverage for hereditary conditions such as hyperthyroidism, renal disease and intervertebral disc disease (IVDD). These issues are excluded if the pet is enrolled after its second birthday. Additionally, benefits such as the exam fee reimbursement and physical therapy are only available as separate riders — other providers include these benefits in their base policy.</p><p>Read <a href="https://money.com/figo-pet-insurance-review/">Figo Pet Insurance Review >></a></p><p>See rates on <a href="https://secure.money.com/pr/ved3845950f6?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-pet-insurance%252F">Figo's Secure Website >></a></p></div></div></div><hr><hr /><p><a href="https://secure.money.com/pr/r1dc06e4854c?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=r1dc06e4854c&type=image" /></a></p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col span="2" style="width:50%" /></colgroup><tbody><tr><td><p>Plan options</p></td><td><p>Accident and illness, accident-only, wellness rider</p></td></tr><tr><td><p>Annual payout limit</p></td><td><p>$2.5K, $5K, $10K or unlimited</p></td></tr><tr><td><p>Reimbursement rates</p></td><td><p>70%, 80% or 90%</p></td></tr><tr><td><p>Annual deductible</p></td><td><p>$50, $100, $250, $500 or $1K</p></td></tr><tr><td><p>Waiting periods</p></td><td><p>3 days for accidents, 14 days for illnesses</p></td></tr><tr><td><p>Discounts</p></td><td><p>5% multi-pet</p></td></tr></tbody></table><hr><hr><h3>Pros</h3><ul><li>Coverage for prosthetic devices and wheelchairs</li><li>Wide range of deductibles</li><li>Covers pets as young as seven weeks with no upper age limit</li><li>Direct payments to vets available upon request</li></ul><h3>Cons</h3><ul><li>Slow claims processing</li><li>Excludes alternative therapy and behavioral modification</li><li>Policy upgrades are not available until the renewal date</li></ul><hr><hr><div class="m00646-mc-why-trust-us"><div class="why-content"><h3>Read our review</h3><div class="why-content-txt"><hr /><p><strong>Why we chose Pets Best</strong></p><p>Pets Best has a wide range of coverage options and deductibles, and it offers pet insurance for cats and dogs as young as seven weeks. It’s also one of the few pet insurance companies that cover prosthetic devices and wheelchairs.</p><hr /><p><strong>What we like</strong></p><p>Insurers don’t always cover treatments for mobility issues, but Pets Best provides coverage for wheelchairs and prosthetic devices when prescribed by a veterinarian to treat a covered accident or illness.</p><p>Additionally, the company offers comprehensive physical therapy coverage as an add-on, encompassing acupuncture, electroacupuncture, chiropractic care, treadmill therapy, laser therapy, therapeutic exercises, ultrasound therapy, gait training and other treatments.</p><p>Pets Best’s take-home prescription rider is also noteworthy. The add-on covers not just prescription medications, but over-the-counter drugs, supplements, remedies and treatments as long as they’re prescribed by a veterinarian. That said, there’s no coverage for alternative therapies and holistic treatments that might benefit your pet’s recovery.</p><hr /><p><strong>What we didn't like</strong></p><p>Cruciate ligament conditions and any related complications are subject to a six-month waiting period. Pet owners can waive the accident and illness waiting period with a medical exam on the same day they purchase coverage, but this waiver doesn't apply to cruciate ligament issues.</p><p>Read <a href="https://money.com/pets-best-pet-insurance-review/">Pets Best Pet Insurance Review >></a></p><p>See rates on <a href="https://secure.money.com/pr/ze8cbed378d2">Pets Best's Secure Website >></a></p></div></div></div><hr><hr /><p><a href="https://secure.money.com/pr/tcefd8acd59c?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=tcefd8acd59c&type=image" /></a></p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col span="2" style="width:50%" /></colgroup><tbody><tr><td><p>Plan options</p></td><td><p>Accident and illness, wellness rider</p></td></tr><tr><td><p>Annual payout limit</p></td><td><p>$5K, $10K, $20K, $50K or $100K</p></td></tr><tr><td><p>Reimbursement rates</p></td><td><p>70%, 80% or 90%</p></td></tr><tr><td><p>Annual deductible</p></td><td><p>$100, $250 or $500</p></td></tr><tr><td><p>Waiting periods</p></td><td><p>2 days for accidents, 14 days for illnesses</p></td></tr><tr><td><p>Discounts</p></td><td><p>5% multi-pet</p></td></tr></tbody></table><hr><hr><h3>Pros</h3><ul><li>Quick claims processing -- in minutes rather than weeks via mobile app</li><li>Multiple discounts available</li><li>A portion of payments go to charities</li><li>Customizable coverage</li></ul><h3>Cons</h3><ul><li>Only available in 38 states</li><li>Policies can only be adjusted at renewal</li><li>Older pets may not be eligible for coverage</li></ul><hr><hr><div class="m00646-mc-why-trust-us"><div class="why-content"><h3>Read our review</h3><div class="why-content-txt"><hr /><p><strong>Why we chose Lemonade</strong></p><p>We picked Lemonade as the best for speedy claims. The company uses novel, AI-powered processing, which promises to deliver claims very quickly via the Lemonade app. The ability to direct a part of the company’s profit to a charity of your choice may also appeal to many pet owners.</p><hr /><p><strong>What we liked</strong></p><p>Lemonade’s accident and illness policy covers diagnostics, procedures and medications for covered conditions. Vet visit fees, dental illnesses, end-of-life services, acupuncture and chiropractic care are excluded from the base policy (which may translate to lower premiums) but you can add these benefits as riders if they’re available in your state.</p><p>Pet owners can further enhance coverage with a preventative care rider that reimburses the cost of annual checkups, vaccines and parasite screening.</p><hr /><p><strong>What we didn't like</strong></p><p>Lemonade is available in 38 states, but you can sign up for updates on its website. However, users may find Lemonade’s website hard to navigate. To get a quote, you have to input a lot of information that other insurers don’t require. Also, if you have questions the automated chat can’t answer, talking with a live agent via chat isn’t possible.</p><p>Read <a href="https://money.com/lemonade-pet-insurance-review/">Lemonade Pet Insurance Review >></a></p><p>See rates on <a href="https://secure.money.com/pr/g2ec239e4bb0?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-pet-insurance%252F">Lemonade's Secure Website >></a></p></div></div></div><hr><hr /><p><a href="https://secure.money.com/pr/f315c4d8c840?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=f315c4d8c840&type=image" /></a></p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col span="2" style="width:50%" /></colgroup><tbody><tr><td><p>Plan options</p></td><td><p>Accident and illness, wellness rider</p></td></tr><tr><td><p>Annual payout limit</p></td><td><p>$10K</p></td></tr><tr><td><p>Reimbursement rates</p></td><td><p>50% or 70% for Whole Pet plan</p></td></tr><tr><td><p>Annualdeductible</p></td><td><p>$250</p></td></tr><tr><td><p>Waiting periods</p></td><td><p>14 days for accidents and illnesses</p></td></tr><tr><td><p>Sample premium for rabbits</p></td><td><p>$41.70</p></td></tr><tr><td><p>Discounts</p></td><td><p>5% multi-pet</p></td></tr></tbody></table><hr><hr><h3>Pros</h3><ul><li>No per-incident, annual or lifetime caps</li><li>Covers alternative therapy for diagnosed conditions</li><li>Direct payments available under certain conditions</li></ul><h3>Cons</h3><ul><li>Limited coverage for hip dysplasia</li><li>12-month waiting period for knee injuries</li><li>No coverage for behavioral issues or prescription food</li></ul><hr><hr><div class="m00646-mc-why-trust-us"><div class="why-content"><h3>Read our review</h3><div class="why-content-txt"><hr /><p><strong>Why we chose Nationwide</strong></p><p>We picked Nationwide as the best for exotic pets because it offers comprehensive insurance for animals beyond cats and dogs. Pet owners can relax knowing up to 90% of their expenses for such animals are covered by a reputable insurer.</p><hr /><p><strong>What we like</strong></p><p>Nationwide is the only pet insurance company of its size that offers insurance for avian and exotic pets. The Avian & Exotic Pet Plan covers most birds, rabbits, reptiles and small mammals, including goats and pot-bellied pigs. (Note that any animal not explicitly listed on the Nationwide website isn’t eligible, including those listed under venomous or endangered species.)</p><p>Owners of exotic pets can select up to 90% reimbursement for covered accidents and illnesses and add preventive care riders as well. Just as with dog and cat insurance, pre-existing conditions are excluded from coverage.</p><hr /><p><strong>What we don't like</strong></p><p>Cat and dog insurance is easy to get directly on Nationwide's website. However, exotic pet owners must call (844-244-3691) to get a quote or sign up. Additionally, cat and dog owners have to wait 12 months to get coverage for cruciate ligament issues — double the time of similar waiting periods.</p><p>Read <a href="https://money.com/nationwide-pet-insurance-review/">Nationwide Pet Insurance Review >></a></p><p>See rates on <a href="https://secure.money.com/pr/u5cb4bee0ab0?ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F">Nationwide's Secure Website >></a></p></div></div></div><hr><hr /><p><a href="https://secure.money.com/pr/p929b7beaf62?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=p929b7beaf62&type=image" /></a></p><h3>Pet Insurance Plans by Category</h3><p>Looking for pet wellness care or coverage for multiple pets? Look no further. We narrowed down the best plans for your pet’s particular needs.</p><ul><li><a href="https://money.com/best-pet-insurance-for-multiple-pets/">Best Pet Insurance for Multiple Pets of 2024 | Money</a></li><li><a href="https://money.com/best-cheap-pet-insurance/">6 Best Cheap Pet Insurance Companies | Money</a></li><li><a href="https://money.com/best-dog-insurance/">Best Dog Insurance | Money</a></li><li><a href="https://money.com/best-cat-insurance/">Best Cat Insurance of 2024 | Money</a></li><li><a href="https://money.com/best-pet-wellness-plans/">Best Pet Wellness Plans of 2024 | Money</a></li><li><a href="https://money.com/best-pet-insurance-for-pre-existing-conditions/">Best Pet Insurance for Pre-Existing Conditions | Money</a></li></ul><h3>Best Pet Health Insurance by State</h3><p>Pet insurance rates — as well as the availability of certain plan options — may vary by state. There are also state-mandated pet ownership expenses (such as licensing and microchipping) that your pet insurance policy may help cover.</p><p>Check out our list of the best pet insurance companies for your state below:</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col width="16%" /><col width="16%" /><col width="16%" /><col width="16%" /><col width="16%" /></colgroup><tbody><tr><td align="center"><p><a href="https://money.com/best-pet-insurance-alabama/">AL</a></p></td><td align="center"><p><a href="https://money.com/best-pet-insurance-colorado/">CO</a></p></td><td align="center"><p><a href="https://money.com/best-pet-insurance-florida/">FL</a></p></td><td align="center"><p><a href="https://money.com/best-pet-insurance-georgia/">GA</a></p></td><td align="center"><p><a href="https://money.com/best-pet-insurance-illinois/">IL</a></p></td></tr><tr><td align="center"><p><a href="https://money.com/best-pet-insurance-indiana/">ID</a></p></td><td align="center"><p><a href="https://money.com/best-pet-insurance-kentucky/">KY</a></p></td><td align="center"><p><a href="https://money.com/best-pet-insurance-maryland/">MD</a></p></td><td align="center"><p><a href="https://money.com/best-pet-insurance-massachusetts/">MA</a></p></td><td align="center"><p><a href="https://money.com/best-pet-insurance-minnesota/">MN</a></p></td></tr><tr><td align="center"><p><a href="https://money.com/best-pet-insurance-nevada/">NV</a></p></td><td align="center"><p><a href="https://money.com/best-pet-insurance-new-hampshire/">NH</a></p></td><td align="center"><p><a href="https://money.com/best-pet-insurance-new-jersey/">NJ</a></p></td><td align="center"><p><a href="https://money.com/best-pet-insurance-new-york/">NY</a></p></td><td align="center"><p><a href="https://money.com/best-pet-insurance-north-carolina/">NC</a></p></td></tr><tr><td align="center"><p><a href="https://money.com/best-pet-insurance-ohio/">OH</a></p></td><td align="center"><p><a href="https://money.com/best-pet-insurance-pennsylvania/">PA</a></p></td><td align="center"><p><a href="https://money.com/best-pet-insurance-rhode-island/">RI</a></p></td><td align="center"><p><a href="https://money.com/best-pet-insurance-tennessee/">TN</a></p></td><td align="center"><p><a href="https://money.com/best-pet-insurance-texas/">TX</a></p></td></tr><tr><td align="center"><p><a href="https://money.com/best-pet-insurance-virginia/">VA</a></p></td><td align="center"><p><a href="https://money.com/best-pet-insurance-washington/">WA</a></p></td><td align="center"><p><a href="https://money.com/best-pet-insurance-west-virginia/">WV</a></p></td><td align="center"> </td><td align="center"> </td></tr></tbody></table><hr><h2>Pet Insurance Guide</h2><h3>Table of Contents</h3><ul><li><a href="#compare">Compare pet insurance plans</a></li><li><a href="#howmuch">How much is pet insurance?</a></li><li><a href="#whatis">What is pet insurance?</a></li><li><a href="#howdoes">How does pet insurance work?</a></li><li><a href="#whatdoes">What does pet insurance cover?</a></li><li><a href="#worth">Is pet insurance worth it?</a></li><li><a href="#howtochoose">How to choose the best pet insurance</a></li></ul><hr /><h2>Compare pet insurance plans</h2><p>Use our pet insurance comparison table to choose the right policy, whether you want to compare dog insurance plans or explore options for other cherished pets.</p><p>We also include companies that stood out in some respects but didn’t quite match the strengths of our top picks. Read our full reviews to learn more: <a href="https://money.com/aspca-pet-insurance-review/">ASPCA Pet Health Insurance</a>, <a href="https://money.com/fetch-pet-insurance/">Fetch Pet Insurance</a>, <a href="https://money.com/manypets-pet-insurance-review/">Many Pets Pet Insurance</a>, <a href="https://money.com/wagmo-pet-insurance-review/">Wagmo Pet Insurance</a>, <a href="https://money.com/healthy-paws-pet-insurance-review/">Healthy Paws</a> and <a href="https://money.com/trupanion-pet-insurance-review/">Trupanion</a>.</p><p><a href="https://secure.money.com/pr/l4d8e6f277cb?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-pet-insurance%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=l4d8e6f277cb&type=image" /></a> <em><strong>Please remove the Alternative therapy column</strong></em></p><h2>How much is pet insurance?</h2><p>According to NAPHIA’s <a href="https://naphia.org/industry-data/" target="_blank" rel="noopener">State of the Industry Report</a>, the average cost of pet insurance for cats is $29 a month while dog insurance plans cost about $49 a month. To better illustrate this, we compared pet insurance plans for a cat and a dog in Miami, Florida.</p><p>If you’re on a tight budget, check out our reviews of the <a href="https://money.com/best-cheap-pet-insurance/">best cheap pet insurance</a>. In our sample of providers, the cheapest pet insurance quotes were $15 per month for cats and $40 for dogs.</p><hr /><h4>Pet insurance for dogs</h4><p>Monthly cost of dog insurance for a Labrador retriever in Miami, Florida:</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col class="first-col" width="20%" /><col width="26%" /><col width="26%" /><col width="26%" /></colgroup><thead><tr><th class="first-col"><p><strong>Company</strong></p></th><th><p><strong>1-year-old</strong></p></th><th><p><strong>5-year-old</strong></p></th><th><p><strong>10-year-old</strong></p></th></tr></thead><tbody><tr><th align="left" class="first-col"><p><strong>Figo</strong></p></th><td align="center"><p>$40.51</p></td><td align="center"><p>$54.82</p></td><td align="center"><p>$138.78</p></td></tr><tr><th align="left" class="first-col"><p><strong>Lemonade</strong></p></th><td align="center"><p>$47.90</p></td><td align="center"><p>$64.32</p></td><td align="center"><p>N/A</p></td></tr><tr><th align="left" class="first-col"><p><strong>AKC</strong></p></th><td align="center"><p>$48.49</p></td><td align="center"><p>$69.56</p></td><td align="center"><p>N/A</p></td></tr><tr><th align="left" class="first-col"><p><strong>Pets Best</strong></p></th><td align="center"><p>$54.46</p></td><td align="center"><p>$73.42</p></td><td align="center"><p>$188.14</p></td></tr><tr><th align="left" class="first-col"><p><b>Healthy Paws</b></p></th><td align="center"><p>$54.85</p></td><td align="center"><p>$95.56</p></td><td align="center"><p>$130.20</p></td></tr><tr><th align="left" class="first-col"><p><strong>Nationwide</strong></p></th><td align="center"><p>$68.07</p></td><td align="center"><p>$91.17</p></td><td align="center"><p>N/A</p></td></tr><tr><th align="left" class="first-col"><p><strong>Spot</strong></p></th><td align="center"><p>$78.71</p></td><td align="center"><p>$102.13</p></td><td align="center"><p>$238.49</p></td></tr><tr><th align="left" class="first-col"><p><strong>Embrace</strong></p></th><td align="center"><p>$83.50</p></td><td align="center"><p>$108.55</p></td><td align="center"><p>$217.11</p></td></tr><tr><th align="left" class="first-col"><p><strong>Trupanion</strong></p></th><td align="center"><p>$100.43</p></td><td align="center"><p>$179.24</p></td><td align="center"><p>$271.26</p></td></tr><tr><th align="left" class="first-col"><p><strong>Pumpkin</strong></p></th><td align="center"><p>$100.98</p></td><td align="center"><p>$131.04</p></td><td align="center"><p>$306.00</p></td></tr></tbody></table><hr><h4>Pet insurance for cats</h4><p>Monthly cost of cat insurance for a domestic shorthair in Miami, Florida:</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col class="first-col" width="20%" /><col width="26%" /><col width="26%" /><col width="26%" /></colgroup><thead><tr><th class="first-col"><p><strong>Company</strong></p></th><th><p><strong>1-year-old</strong></p></th><th><p><strong>5-year-old</strong></p></th><th><p><strong>10-year-old</strong></p></th></tr></thead><tbody><tr><th align="left" class="first-col"><p>Figo</p></th><td align="center"><p>$15.45</p></td><td align="center"><p>$18.15</p></td><td align="center"><p>$39.30</p></td></tr><tr><th align="left" class="first-col"><p>Lemonade</p></th><td align="center"><p>$19.08</p></td><td align="center"><p>$22.51</p></td><td align="center"><p>N/A</p></td></tr><tr><th align="left" class="first-col"><p>Pets Best</p></th><td align="center"><p>$21.00</p></td><td align="center"><p>$24.93</p></td><td align="center"><p>$57.82</p></td></tr><tr><th align="left" class="first-col"><p>AKC</p></th><td align="center"><p>$22.43</p></td><td align="center"><p>$28.33</p></td><td align="center"><p>N/A</p></td></tr><tr><th align="left" class="first-col"><p>Nationwide</p></th><td align="center"><p>$23.05</p></td><td align="center"><p>$34.19</p></td><td align="center"><p>N/A</p></td></tr><tr><th align="left" class="first-col"><p>Embrace</p></th><td align="center"><p>$27.71</p></td><td align="center"><p>$37.83</p></td><td align="center"><p>$63.94</p></td></tr><tr><th align="left" class="first-col"><p>Spot</p></th><td align="center"><p>$29.47</p></td><td align="center"><p>$33.12</p></td><td align="center"><p>$76.06</p></td></tr><tr><th align="left" class="first-col"><p>Trupanion</p></th><td align="center"><p>$30.63</p></td><td align="center"><p>$51.45</p></td><td align="center"><p>$78.03</p></td></tr><tr><th align="left" class="first-col"><p>Healthy Paws</p></th><td align="center"><p>$32.08</p></td><td align="center"><p>$55.33</p></td><td align="center"><p>$75.11</p></td></tr><tr><th align="left" class="first-col"><p>Pumpkin</p></th><td align="center"><p>$49.50</p></td><td align="center"><p>$55.62</p></td><td align="center"><p>$127.73</p></td></tr></tbody></table><hr><p><em>Sample quotes correspond to an accident and illness policy with 80% reimbursement, $10,000 payout limit and a $250 deductible, except in the case of Trupanion, Figo and Pumpkin. Please note that your quote may be different from the rates above.</em></p><hr /><h3>Additional out-of-pocket expenses to remember</h3><p>The cost of pet insurance is not limited to premium payments. Unless you purchase a policy with 100% reimbursement, unlimited payouts and no deductibles, you’ll have to cover some expenses yourself.</p><ul><li><strong>Exam or office fees:</strong> Veterinarians and <a href="https://money.com/how-much-is-an-emergency-vet-visit/">emergency vet care</a> clinics charge an exam fee that’s separate from diagnostic or treatment costs. Most insurers exclude this fee from coverage, which then amounts to a hidden deductible of $30 to $100 for each visit.</li></ul><ul><li><strong>Deductible:</strong> You’ll need to meet the policy’s deductible before the insurance company starts reimbursing you. It might take a few vet visits to reach the deductible amount, especially if you set a high deductible in order to lower your premium rate.</li></ul><ul><li><strong>Copay:</strong> Once you file for reimbursement, plans typically pay 70% to 90% of eligible veterinary services. The remaining 30% to 10% comes out of your own wallet.</li></ul><ul><li><strong>Payout caps:</strong> Pet insurance won’t pay once you’ve reached the policy’s maximum coverage amount for the year. Some insurers also set individual coverage caps for behavioral modification, <a href="https://money.com/pet-dental-insurance/">dental care</a> and end-of-life expenses.</li></ul><hr /><h3>Factors that determine what your <a href="https://money.com/how-much-is-pet-insurance/">pet insurance costs</a>:</h3><ul><li><strong>Type of policy:</strong> Accident and illness policies cost more than other types of pet insurance (wellness plans or accident-only policies).</li></ul><ul><li><strong>Type of animal:</strong> Dog insurance costs twice as much as pet insurance for cats. Bird insurance premiums typically start at less than $21 a month, while horse insurance starts at over $80 a month.</li></ul><ul><li><strong>Pet’s age:</strong> Premiums increase with age and do so sharply for very old animals. In addition, after your dog or cat reaches the age of 10 or 12, your options for insurance providers will significantly diminish.</li></ul><ul><li><strong>Pet’s breed:</strong> Purebreds prone to congenital or hereditary conditions usually cost more to insure than mixed-breed dogs.</li></ul><ul><li><strong>Pet’s size:</strong> Buying pet insurance for larger dogs or cats is more expensive compared to small or toy-sized animals. That said, smaller breeds tend to live longer, which means you’ll pay more over the animal’s lifetime.</li></ul><ul><li><strong>Where you live:</strong> Pet insurance costs more in states where vet care is more expensive. On average, residents of California and New York pay the most.</li></ul><h2>What is pet insurance?</h2><p>Pet insurance is an insurance product that covers part of your pet’s vet bills if they get sick or injured. It’s designed to protect owners from the financial impact of costly, unforeseen issues such as <a href="https://money.com/how-much-is-an-emergency-vet-visit/">emergency vet care</a> or chronic medical conditions. Pre-existing conditions and routine care expenses like vaccinations, annual exams and parasite prevention aren’t covered.</p><p>There are two types of pet insurance policies. Insurers also sell separate wellness plans or endorsements that cover routine care.</p><hr /><h3>Types of pet insurance</h3><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col width="26%" /><col width="26%" /><col width="26%" /></colgroup><thead><tr><th><p style="text-align: left"><strong>Accident & illness policy</strong></p></th><th><p style="text-align: left"><strong>Accident coverage</strong></p></th><th><p style="text-align: left"><strong>Wellness riders</strong></p></th></tr></thead><tbody><tr><td align="center"><p style="text-align: left">Covers diagnosis, surgery, hospitalization, treatment and medications for any covered accident or illness.</p></td><td align="center"><p style="text-align: left">Pays only for the treatment of sudden accidents or injuries such as poisonings, broken bones or bloating. </p></td><td align="center"><p style="text-align: left">Reimburses policyholders for services such as vaccinations, microchipping, checkups, pet dental care and heartworm prevention.</p></td></tr></tbody></table><hr><hr /><h2>How does pet insurance work?</h2><p>Unlike human health insurance, pet insurance has no network restrictions, so you can take your dog or cat to any licensed vet or specialist nationwide. But you must meet a few requirements before insurance starts reimbursing you: the waiting period must elapse and you must cover all vet costs until you meet the policy’s deductible.</p><p>Once you meet the deductible, you can file for reimbursement. You’ll pay the vet bill in full and file a claim to the insurance company at a later date — unless you enrolled with a company that offers direct payment to vets, such as Trupanion.</p><p>Most insurers reimburse 70% to 90% of the bill, and you’re responsible for paying the remaining 10% to 30%. Annual limits also apply, meaning that the insurance company won’t reimburse more than, say, $10,000 if your policy’s capped at that number. This limit resets upon renewal.</p><p>Lastly, premiums won’t increase after you file a claim. However, pet insurance premiums can increase a reported 20% to 30% after the policy renews to match your pet’s age and the cost of veterinary care in your zip code.</p><h2>Pet insurance coverage</h2><h3>What does pet insurance cover?</h3><p>Pet insurance covers diagnostic tests, hospitalization, surgery, prescription medication and long-term treatment for accidents and chronic conditions such as allergies or diabetes (a common risk in <a href="https://money.com/care-for-fat-cats-and-fat-dogs/">overweight pets</a>). Most policies also cover <a href="https://money.com/dog-therapy-and-pet-insurance/">behavioral therapy</a> and physical therapy if it’s medically necessary.</p><p>As with most insurance policies, there are exclusions to keep in mind. Pet insurance doesn’t cover routine care, pre-existing conditions or injuries due to owner negligence.</p><p>Check out our <a href="https://money.com/what-pet-insurance-covers/">pet insurance coverage guide</a> for more information.</p><hr /><h2>Is pet insurance worth it?</h2><p>Pet insurance can be prohibitively expensive. Healthy Paws, MetGen and Trupanion came <a href="https://gottheimer.house.gov/posts/release-gottheimer-calls-on-state-to-reject-pet-insurance-companies-unreasonable-rate-hikes-affecting-jersey-families" target="_blank" rel="noopener">under scrutiny</a> for rate increases, and policyholders have denounced claim denials and long waits for reimbursement. In this landscape, many wonder whether pet insurance is worth paying for.</p><p>A pet owner may regret paying for insurance if their dog lived a long and healthy life. After all, they likely paid thousands in premiums over the life of an animal that (fortunately) never got sick enough to need the policy. In hindsight, using a credit card or setting money aside in a savings account may have been better.</p><p>But what about pets that aren’t as lucky?</p><p>“[Insurance] can be a lifesaver for pet owners,” says Dr. Karen Halligan, host of Collars and Cents and author of ‘Doc Halligan’s What Every Pet Owner Should Know.’ “We now have the ability to do stem cell transplants [which cost] $35,000 or open heart surgery. A lot of things that you can do for humans, we can do for pets, and the big difference is the insurance.”</p><p>Having a pet insurance policy offers peace of mind if you want to avoid the difficult decision of choosing between your own financial stability and your pet’s health.</p><p>Dr. Lindsey Butzer, from Clint Moore Animal Hospital, recalls having to euthanize many dogs because people waited too long to bring them in for treatment. “They’re not gonna pay for their dog over their groceries,” she explains. Other patients simply couldn’t afford the cost of the necessary procedure. “A lot of people make the choice of putting them to sleep if they can’t pay for a $10,000 back surgery,” she adds.</p><p>Pet insurance can be a financial safety net in a world where <a href="https://money.com/why-are-vet-bills-so-expensive/">vet care prices keep trending upward</a>. That said, pet owners should be mindful of the following before buying a policy:</p><ul><li>Enroll while your pet is young and healthy to avoid <a href="https://money.com/pet-insurance-for-pre-existing-conditions/">pre-existing condition</a> exclusions</li></ul><ul><li>Be prepared to pay monthly premiums plus any copays and the yearly deductible</li></ul><ul><li>Be ready to pay the vet bill upfront and wait for reimbursement</li></ul><ul><li>Know that premiums will increase yearly</li></ul><ul><li>Be diligent with your pet’s preventive care</li></ul><hr /><h2>How to choose pet insurance</h2><p>Follow these steps to find the best policy for your pet:</p><p><strong>1. Pick between an accident-only or accident and illness coverage</strong></p><p>An accident and illness plan may be worth it if you’re enrolling a pet that’s still young and healthy. On the other hand, accident-only plans work for older dogs that are too expensive to insure and for budget-conscious pet owners who just want a safety net against serious accidents.</p><p><strong>2. Study the policy’s coverage</strong></p><p>Broadly speaking, every policy covers diagnostics, surgery, medication and treatment. When you look at the fine print, however, you’ll find differences in the types of services and benefits each plan covers.</p><p>The best insurance policies cover exam fees, alternative therapy, behavioral therapy, and prescription medications. Some may even offer direct payment to vets. We also encourage you to look into the policy’s dental care coverage. Ask about periodontal disease, any age limits on congenital dental problems and whether every tooth is covered.</p><p><strong>3. Choose the policy’s terms</strong></p><p>Most insurers allow you to select the policy’s reimbursement rate, deductible and annual coverage limit. Reimbursement rates range from 70% to 100% and refer to the portion of the bill that’s covered by insurance. Annual limits can be as low as $5,000 or unlimited, though this will increase the monthly premium. Insurers may also limit the annual payout for particular claims, known as per-incident limits. You’ll generally see per-incident limits for dental coverage, behavioral therapy and prescription medications.</p><p><strong>4. Compare waiting periods</strong></p><p>Most pet insurance companies make you wait 14 days before you can file a claim. If fast coverage is important to you, look for companies that offer shorter waiting periods for accident coverage.</p><p>Orthopedic waiting periods can also be a deciding factor. Lots of companies have a six to 12-month waiting period for joint injuries and hip dysplasia. You may want a pet insurance policy without this restriction if you own a pet breed that’s prone to developing these issues early on.</p><p><strong>5. Compare pet insurance quotes</strong></p><p>You’d be surprised at how much prices can vary between insurance companies. Some insurers may quote double the price of others for similar coverage, so it pays to do some comparison shopping. Additionally, comparing multiple plans at once is fairly easy through a pet insurance comparison site such as Petted Insurance, Pawlicy Advisor or Pet Insurer.</p><p>Check out our guide on <a href="https://money.com/how-to-buy-pet-insurance/">how to buy pet insurance</a> for more information.</p><hr /><h3>How to save on pet insurance</h3><p>When it comes to premiums, there’s not much you can do about your zip code, your pet’s breed or age but you can tweak coverage levels to fit your budget:</p><ul><li><strong>Payout caps:</strong> Choosing the highest coverage limit increases premiums. To pick the right payout cap, check the average cost of vet treatment in your area for breed-specific illnesses and common injuries.</li></ul><ul><li><strong>Reimbursement percentage:</strong> A low reimbursement percentage means you’ll pay less in premiums. However, this also means you’ll have a higher copayment.</li></ul><ul><li><strong>Deductibles:</strong> The higher the deductible, the lower your policy’s premium will be. If your pet remains healthy, <a href="https://money.com/choosing-a-pet-insurance-deductible/">choosing a higher deductible can pay off</a> and save you money, but you’ll pay more out of pocket if anything unexpected happens.</li></ul><hr /><h3>Pet insurance discounts</h3><p>Pet owners can shave 5% to 10% off their policy’s monthly rate if their pet insurance carrier offers any one of these discounts:</p><ul><li><strong>Annual pay discount:</strong> Lower rates if you pay for the policy annually instead of monthly</li></ul><ul><li><strong>Multipet discount:</strong> Discounted rates for each additional pet you enroll with the same provider</li></ul><ul><li><strong>Bundle</strong> <strong>discounts:</strong> Discounted rate for bundling with homeowners or renters insurance under the same provider</li></ul><ul><li><strong>Spay/neuter discount:</strong> Reduced premium if you spay/neuter your pet upon enrollment</li></ul><ul><li><strong>Military discounts:</strong> Discounts for active and former members of the armed forces</li></ul><ul><li><strong>Group discounts at work:</strong> Lower rates for <a href="https://money.com/pet-insurance-employer-open-enrollment/">employer-provided pet insurance</a></li></ul><p>You can also save money on pet insurance by adopting through a shelter. Trupanion offers 30 days of free insurance at participating shelters and vets, and you can continue coverage after the trial ends (terms and conditions apply).</p><p>Check out the <a href="https://money.com/best-places-to-adopt-pets/">best places to adopt a pet</a> and ask if they participate in similar programs.</p><hr /><hr><h2>Pet Insurance FAQs</h2><h3>How much is a vet visit?</h3><p>Without insurance, a routine veterinary visit for a cat or dog may range from $50 to $300. Emergency visits can be significantly more expensive, depending on the severity of the situation and required care. Addressing specific health issues also incurs higher costs.</p><p>For example, according to Healthy Paws's 2022 Cost of Veterinary Care report, skin conditions were the most common insurance claim for dogs, with bills averaging $200 to $2,500. Similarly, gastritis was the most common condition in cats, with reimbursement claims ranging from $1,500 to $1,800.</p><h3>What is the best pet insurance?</h3><p>The ideal policy will depend on a combination of different elements, mainly your budget and your pet's needs. Our roundup of the <a href="#bestpet">best pet insurance</a> providers includes reputable companies such as Spot, Pumpkin, AKC, Figo, Embrace, Pets Best, Lemonade and Nationwide.</p><h3>What is the best pet insurance for dogs?</h3><p>The best pet insurance for dogs (much like pet health insurance for cats) covers the veterinary services your pet will need if they get seriously sick or injured. This includes surgeries, hospitalization, diagnostics, treatment and medication. The best insurers also offer exam fee and wellness coverage, and most cover alternative therapies and <a href="https://money.com/dog-therapy-and-pet-insurance/">behavioral modification</a> at no extra cost.</p><p>Get a quote from any of our top picks -- <a href="#spot">Spot</a>, <a href="#akc">AKC</a>, <a href="#lemonade">Lemonade</a><br />, <a href="#embrace">Embrace</a>, <a href="#petsbest">Pets Best</a>, <a href="#figo">Figo</a> and <a href="#pumpkin">Pumpkin</a> -- to see which of their dog pet insurance plans is the best for your pup.</p><h3>How does pet insurance know about pre-existing conditions?</h3><p>Pet insurance companies identify pre-existing conditions by reviewing your pet's healthcare records or requesting a nose-to-tail medical exam before enrollment. To gather your pet's medical records, the company might request the contact information of every shelter or veterinarian that has treated your pet in the past.</p><h3>What is a good annual limit for pet insurance?</h3><p>In most cases, $5,000 to $10,000 is more than enough to cover yearly veterinary expenses. However, some treatments, such as cancer treatment or hip replacement surgery, can be very costly. A limit of $10,000 may not be enough, depending on your location and your pet's breed. Assess your pet's susceptibility to certain conditions to choose the appropriate limit. You can also research local treatment costs to make an informed decision.</p><hr><hr /><h2>How We Chose Our Top Picks</h2><p>To identify the best pet insurance companies of 2024, we reviewed 19 companies based on over 50 data points. Our methodology summarizes the data points in the following categories: basic coverage, extra benefits, waiting periods, limitations and exclusions, affordability, availability, customizability, and ease of use.</p><p>Click below to learn more.</p><hr><div class="m00646-mc-why-trust-us"><div class="why-content"><h3>Methodology</h3><div class="why-content-txt"><ul><li><strong>Basic coverage:</strong> Our top picks cover <a href="https://money.com/pet-exam-fees-sponsored-fetch/">exam fees</a>, diagnostic testing, treatment, surgery, medications and hospitalizations for accidents and illnesses. We skipped companies that didn't cover curable pre-existing conditions, as this would mean that one-time ailments such as respiratory infections or a stomach bug could potentially be excluded.</li></ul><ul><li><strong>Extra benefits:</strong> We checked whether the provider covered alternative therapies, behavioral modification, telehealth services and a 24/7 vet helpline. We also took note of providers that offer coverage for non-health-related issues, such as advertising for lost or stolen pets and pet boarding in the event the owner falls ill.</li></ul><ul><li><strong>Waiting periods:</strong> Pet insurance policies typically enforce a 14-day waiting period for accidents and illnesses. Our top picks set waiting periods within this range, with the exception of Nationwide, which enforces an additional waiting period for orthopedic conditions.</li></ul><ul><li><strong>Limitations and exclusions:</strong> We reviewed the provider's upper age limits and cut-off points for coverage. Many accept pets regardless of age, some issue only accident-only policies after the pet reaches a certain age and others deny coverage if the pet is too old. We also identified any additional lifetime or per-incident payout limits that could increase a buyer's out-of-pocket expenses.</li></ul><ul><li><strong>Affordability:</strong> We gathered sample quotes using the pet profiles of a one-year-old Labrador Retriever and a one-year-old domestic shorthair cat from Mami, Florida. The policy's terms are: an 80% reimbursement rate, a $10,000 payout limit and a $250 deductible (with some variations if the company doesn't offer those terms). With that data, we identified which insurers offer the best rates, considering whether affordability meant paying extra for certain benefits.</li></ul><ul><li><strong>Availability:</strong> Most pet insurance providers are licensed to sell policies in all 50 states. And once you have a policy, you can typically visit any licensed veterinarian in the U.S., Canada and any U.S. military base overseas. We excluded companies that issued policies with limited membership, such as USAA pet insurance. We also left out insurers that resell pet insurance policies, such as Geico, which offers Embrace or Trupanion.</li></ul><ul><li><strong>Customizability:</strong> Having multiple deductible, payout and reimbursement options means that policyholders can tweak the coverage details to get a premium that's within their budget. Most providers allow this flexibility. The ones that feature a single policy with no customizability typically offset this limitation with high levels of coverage (90% to 100% reimbursement and very high or unlimited payouts).</li></ul><ul><li><strong>Ease of use:</strong> We went through each company's quote process and took note of how user-friendly its platform was. Most pet insurance companies fare pretty well in this regard, featuring well-designed websites and mobile apps. Pet owners only need to provide their zip code and their pet's species, breed and age to get an online quote and purchase a policy.</li></ul></div></div></div><hr><h2>Summary of Money’s Best Pet Insurance Companies of May 2024</h2><ul><li><a href="#embrace">Embrace</a> – Best for International Coverage</li><li><a href="#spot">Spot</a> – Best for Unlimited Coverage</li><li><a href="#metlife">MetLife</a> – Best for Multiple Pets</li><li><a href="#pumpkin">Pumpkin</a> – Best for Puppies and Kittens</li><li><a href="#akc">AKC</a> – Best for Pre-Existing Conditions</li><li><a href="#figo">Figo</a> – Best for Reimbursement Options</li><li><a href="#petsbest">Pets Best</a> – Best for Treatment of Mobility Issues</li><li><a href="#lemonade">Lemonade</a> – Best for Fast Claims Processing</li><li><a href="#nationwide">Nationwide</a> – Best for Exotic Pets</li></ul>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5940868</post-id> <media:thumbnail url="https://img.money.com/2023/12/Best-Pet-Insurance-mbci_mb6w3__bhv7ew.jpg?quality=85" /> <media:content url="https://img.money.com/2023/12/Best-Pet-Insurance-mbci_mb6w3__bhv7ew.jpg?quality=85" medium="image"> <media:title type="html">Best-Pet-Insurance</media:title> </media:content> </item> <item> <title>11 Best High-Yield Savings Accounts of 2024</title> <link>https://money.com/best-high-yield-savings-accounts/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Tue, 30 Apr 2024 18:01:49 +0000</pubDate> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5940770</guid> <description><![CDATA[Money’s Main Takeaways We found that the best high-yield savings accounts this month offer 5.10% APY or higher. The top HYSA rate is at Digital Federal Credit Union (DCU), with 6.17% available on balances of up to $1,000. My Banking Direct offers the second-highest APY on our list at 5.55%. Newtek Bank and Jenius Bank…]]></description> <content:encoded><![CDATA[<hr /><p><strong>Money’s Main Takeaways</strong></p><ul><li>We found that the best high-yield savings accounts this month offer 5.10% APY or higher.</li></ul><ul><li>The top HYSA rate is at Digital Federal Credit Union (DCU), with 6.17% available on balances of up to $1,000.</li></ul><ul><li>My Banking Direct offers the second-highest APY on our list at 5.55%.</li></ul><ul><li>Newtek Bank and Jenius Bank both offer 5.25% APY with no initial deposit required.</li></ul><ul><li>There are no monthly fees for any of the high-yield savings accounts in our top picks.</li></ul><p><em> *Rates and APYs are subject to change. All information provided here is accurate as of April 23, 2024.</em></p><p><a href="https://secure.money.com/pr/r9b3c1a81fa9?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=r9b3c1a81fa9&type=image" /></a></p><hr /><hr><div class="m00646-mc-why-trust-us"><div class="why-content"><h3>Why Trust Us?</h3><div class="why-content-txt"><p>Our editors and writers review high-yield savings accounts from a variety of financial institutions independently, ensuring our content is precise and guided by editorial accuracy. Read our <a href="#methodology">full methodology</a> to learn more.</p><ul><li>Over 50 high-yield savings accounts evaluated</li></ul><ul><li>Based on 13 key data points, including annual percentage yield, monthly fees and customer satisfaction</li></ul><ul><li>Thousands of hours of cumulative research involved</li></ul></div></div></div><hr><h2>Our Top Picks for the 11 Best High-Yield Savings Accounts of 2024</h2><p>The companies listed below are in alphabetical order.</p><ul><li><strong><a href="#Brio">BrioDirect</a> </strong>– Best High-Yield Savings Account with a $5,000 Minimum Deposit (5.35% APY)</li><li><strong><a href="#DCU">Digital Federal Credit Union (DCU)</a> </strong>– Best APY for Balances Up to $1,000 (6.17% APY)</li><li><a href="#Ivy"><strong>Ivy Bank</strong></a> – Best High-Yield Savings with a $2,500 Minimum Deposit (5.30% APY)</li><li><a href="#Jenius"><strong>Jenius Bank</strong></a> – Best High-Yield Savings for Unlimited Transfers (5.25% APY)</li><li><strong><a href="#banking">My Banking Direct</a></strong> – Best High-Yield Savings Account with a $500 Minimum Deposit (5.55% APY)</li><li><a href="#Newtek"><strong>Newtek Bank</strong></a> – Best High-Yield Savings Account Rate with No Minimum Deposit (5.25% APY)</li><li><a href="#Public"><strong>Public</strong></a> – Best for Investors (5.10% APY)</li><li><strong><a href="#Popular">Popular Direct</a> </strong> – Best High-Yield Savings Account with a $100 Minimum Deposit (<span style="font-weight: 400">5.15</span>% APY)</li><li><a href="#Raisin"><strong>Raisin</strong></a> – Best Marketplace for High-Yield Savings Accounts (5.26% APY)</li><li><strong><a href="#tabbank">TAB Bank </a></strong>– Best Online Bank for High-Yield Savings (5.27% APY)</li><li><strong><a href="#ufb">UFB Direct</a> </strong> – Best High-Yield Savings with an ATM Card (5.25% APY)</li></ul><p><a href="https://secure.money.com/pr/ua3761ab8b5f?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=ua3761ab8b5f&type=image" /></a></p><h2>Best High-Yield Savings Accounts Reviews</h2><p><em>Each company’s annual percentage yield (APY) is accurate at the time of this publication, but they may vary according to the rates set by the Federal Reserve.</em></p><hr /><p class="p1"><a href="https://secure.money.com/pr/h50513ed4651?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=h50513ed4651&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Among the highest APYs of all companies we evaluated</li><li>Minimum balance is only $25 after the initial $5,000 deposit</li><li>Link up to five external accounts for transfers</li><li>No monthly fees</li></ul><h3>Cons</h3><ul><li>No mobile check deposit</li><li>No physical branches</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>APY </dt><dd>5.35%</dd></dl><dl><dt>MINIMUM DEPOSIT TO OPEN</dt><dd>$5,000</dd></dl><dl><dt>MONTHLY FEES</dt><dd>None</dd></dl><dl><dt>S&P GLOBAL RATING</dt><dd>BBB+ (parent company, Webster Bank)</dd></dl><dl><dt>ATM CARD</dt><dd>No</dd></dl><hr><p><strong>Why we chose it</strong>: BrioDirect offers one of the highest-earning HYSAs on our list with a minimum deposit of $5,000. Additionally, there is no minimum balance requirement after the initial deposit.</p><p><a href="https://secure.money.com/pr/j5388c8b0df8">BrioDirect</a> — an online banking brand by the longstanding, Connecticut-based Webster Bank — is an ideal account for making the most of savings of $5,000 and up. Its high-yield savings account boasts a strong annual percentage yield and no monthly maintenance fees. Additionally, there are no limits on how many withdrawals you can make.</p><p>You can fund your account via transfer from an external bank; BrioDirect allows customers to link up to five accounts at one time. Unfortunately, there is no mobile check deposit feature currently, and there are no physical branches for in-person deposits — but BrioDirect does accept checks for deposit by mail, as well as wire transfers.</p><hr /><p class="p1"><a href="https://secure.money.com/pr/v7b3dd79c69f?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=v7b3dd79c69f&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Highest APY on our list</li><li>No monthly fees</li><li>Mobile check deposit available</li></ul><h3>Cons</h3><ul><li>$5 opening deposit required</li><li>Balances over $1,000 earn low APY</li><li>$15 overdraft fee</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>APY</dt><dd>6.17%</dd></dl><dl><dt>MINIMUM DEPOSIT TO OPEN</dt><dd>$5</dd></dl><dl><dt>MONTHLY FEES</dt><dd>None</dd></dl><dl><dt>ATM CARD</dt><dd>No</dd></dl><hr><p><b>Why we chose it:</b> DCU’s Primary Savings account has an exceptionally high APY for balances of up to $1,000, plus no monthly fees.</p><p><a href="https://secure.money.com/pr/x2f7016dd990">Digital Federal Credit Union</a> (DCU) offers three different savings accounts, and its Primary Savings option offers the highest annual percentage yield. However, the rate only applies to balances up to $1,000. After that, the APY drops significantly. Still, with its strong interest rate, DCU’s Primary Savings is a solid option for starting your savings journey.</p><p>To open the account, you must deposit $5. Your deposit also establishes your membership with the credit union. There are no monthly fees on the Primary Savings account and no minimum balance requirements. Additionally, DCU sets no limit on how many transfers you can make in or out of your high-yield savings account.</p><hr /><p class="p1"><a href="https://secure.money.com/pr/c68eb2d6b011?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=c68eb2d6b011&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Among the highest APYs on our list </li><li>Rate guaranteed through June 30, 2024</li><li>Mobile check deposit available</li><li>No monthly fees</li></ul><h3>Cons</h3><ul><li>Must maintain a $2,500+ balance to earn the highest APY</li><li>Withdrawals limited to six per month</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>APY</dt><dd>5.30%</dd></dl><dl><dt>MINIMUM DEPOSIT TO OPEN </dt><dd>$2,500</dd></dl><dl><dt>MONTHLY FEES</dt><dd>None</dd></dl><dl><dt>ATM CARD</dt><dd>No</dd></dl><hr><p><strong>Why we chose it:</strong> Ivy Bank’s high-yield savings account has a guaranteed high APY through June 30, 2024, for balances of $2,500 and up.</p><p><a href="https://secure.money.com/pr/p3bc10f5a431">Ivy Bank</a> offers an above-average annual percentage yield on its HYSA, which requires a minimum initial deposit of $2,500. There is no monthly fee for this account — including if your balance drops below the minimum requirement. (Balances under $2,500 earn a significantly lower APY.)</p><p>Note that withdrawals are limited to six per month. Additionally, Ivy Bank does not offer checks or ATM access via ATM card. Outgoing transactions can only be initiated via electronic transfer. To make a deposit, you can transfer funds from an external account, use the remote check deposit feature on the Ivy Bank mobile app, mail a check or transfer via domestic wire.</p><hr /><p class="p1"><a href="https://secure.money.com/pr/j4e6743922b9?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=j4e6743922b9&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Unlimited transfers and withdrawals</li><li>No monthly fees or minimum balance requirement </li><li>No minimum opening deposit requirement</li><li>No overdraft fees</li></ul><h3>Cons</h3><ul><li>Jenius Bank does not have a mobile app</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>APY</dt><dd>5.25%</dd></dl><dl><dt>MINIMUM DEPOSIT TO OPEN </dt><dd>None</dd></dl><dl><dt>MONTHLY FEES</dt><dd>None</dd></dl><dl><dt>ATM CARD</dt><dd>No</dd></dl><hr><p><strong>Why we chose it:</strong> Compared to other high-yield savings accounts that offer unlimited transfers and withdrawals,<a href="https://secure.money.com/pr/f35602babcf6"> Jenius Bank</a> has the highest APY available.</p><p>Jenius Bank offers a high APY on all balances, with no monthly maintenance fee. Additionally, there’s no limit on how many transfers or withdrawals you can make. You can move funds in and out of your account via external transfer as often as you’d like.</p><p>One downside: Jenius Bank doesn’t currently have a mobile app. The bank states on its website that an app is coming soon, but in the meantime, this means there’s no mobile check deposit option. However, you can easily transfer funds into or out of your Jenius Savings account via external transfer on the Jenius Bank website.</p><p>Jenius Bank doesn’t charge a monthly maintenance fee. Plus, while some banks impose a penalty for closing a new account within a certain amount of time, Jenius doesn’t. If you decide to close your Jenius account, there is no charge. Jenius doesn’t charge overdraft fees, either.</p><hr /><p><a href="https://secure.money.com/pr/f4ce8b4b17be?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=f4ce8b4b17be&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Earns interest on daily balances of $1 or more</li><li>No monthly fees or maintenance charges</li><li>Mobile check deposit through the app</li><li>Zelle integration for P2P payments</li><li>No limits on withdrawals</li></ul><h3>Cons</h3><ul><li>No check-writing privileges</li><li>$30 fee if you close your account within 180 days of opening</li><li>APY drops slightly for balances of $50,000+</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>APY</dt><dd>5.55%</dd></dl><dl><dt>MINIMUM DEPOSIT TO OPEN</dt><dd>$500</dd></dl><dl><dt>MONTHLY FEES</dt><dd>None</dd></dl><dl><dt>ATM CARD</dt><dd>No</dd></dl><hr><p><strong>Why we chose it</strong>: After the initial $500 deposit, My Banking Direct savings accounts with a balance of at least $1 qualify for the online bank’s highest available APY.</p><p><a href="https://secure.money.com/pr/t3997d4c6c9d">My Banking Direct</a>’s high-yield savings account offers a competitive annual percentage yield with no monthly service charge. You can fund your account via transfer from an external bank or via remote deposit using the online bank’s mobile app, which is operated by its parent company, New York Community Bancorp.</p><p>The NYCB app also offers the option to set up recurring deposits and transfers to external accounts. You can also connect your Zelle account for peer-to-peer (P2P) payments. There are no transaction or withdrawal limits on the My Banking Direct HYSA. The online bank does not offer a debit card, though, so you can’t withdraw funds through an ATM.</p><p><strong><a href="https://money.com/my-banking-direct-high-yield-savings-accounts-review/">Read our full review of My Banking Direct high-yield savings accounts here.</a></strong></p><hr /><p class="p1"><a href="https://secure.money.com/pr/rd906e4e671f?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=rd906e4e671f&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Competitive annual percentage yield </li><li>Open an account online in minutes</li><li>No minimum deposit required to open</li><li>No overdraft fees</li></ul><h3>Cons</h3><ul><li>Withdrawals limited to six per statement cycle</li><li>No mobile deposit</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>APY</dt><dd>5.25%</dd></dl><dl><dt>MINIMUM DEPOSIT TO OPEN </dt><dd>$0</dd></dl><dl><dt>MONTHLY FEES</dt><dd>None</dd></dl><dl><dt>ATM CARD</dt><dd>No</dd></dl><hr><p><b>Why we chose it:</b> The <a href="https://secure.money.com/pr/kec0e8824dcd">NewTek</a> personal high-yield savings account offers one of the highest annual percentage yields among the companies we evaluated. There is no minimum deposit amount required to open, no minimum balance requirement and no monthly fees.</p><p>NewTek Bank is primarily focused on business banking and merchant accounts, but it also offers consumer savings products: a personal high-yield savings account and certificates of deposit (CDs). Both accounts earn interest at a rate of more than 10 times the national average, according to the FDIC Weekly National Rates and Rate Caps.</p><p>There’s no minimum deposit required to open the NewTek personal high-yield savings account, and all balances over $0.01 earn the highest available APY. Newtek also doesn’t charge any overdraft fees.</p><p>However, mobile check deposit is reserved for business accounts only. To fund your personal high-yield savings, you must transfer funds from an external account. Additionally, you can only make up to six withdrawals per month. You may be charged a fee if you exceed this amount.</p><hr /><p class="p1"><a href="https://secure.money.com/pr/k677d0a1e867?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=k677d0a1e867&type=image" /></a></p><hr><h3>Pros</h3><ul><li>No monthly fee </li><li>No limits on withdrawals</li><li>No minimum balance requirement and no maximum balance limit</li><li>Subscription-free trading on the same platform </li><li>Trade stocks, treasuries, EFTs, crypto and alternative assets</li></ul><h3>Cons</h3><ul><li>No mobile check deposit</li><li>No physical branches</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>APY</dt><dd>5.10%</dd></dl><dl><dt>MINIMUM DEPOSIT TO OPEN </dt><dd>None</dd></dl><dl><dt>MONTHLY FEES </dt><dd>None</dd></dl><dl><dt>ATM CARD</dt><dd>No</dd></dl><hr><p><strong>Why we chose it:</strong> <a href="https://secure.money.com/pr/ff5e06749828">Public</a> offers a strong interest rate on its high-yield cash account, which has no monthly fees, plus a brokerage account for investment trading. Customers can see all their Public products together in the mobile app or the online banking site.</p><p>Public is primarily an investing platform for trading stocks, bonds, treasuries, exchange-traded funds (ETFs) and crypto, but the broker-dealer company also offers a competitive interest rate on its high-yield cash account (which functions similarly to a HYSA). If you’re looking to maintain several financial growth avenues with a single company, Public may be a solid option for you.</p><p>There are no monthly fees with Public’s HYSA, and there is no limit on how many transfers or withdrawals you can make. There is no subscription fee required to start investing, either. You can add funds on Public via electronic transfer from an external bank account or with a debit card from a participating financial institution. You can also move uninvested funds in your brokerage account to your high-yield cash account at any time.</p><p>Third-party reviews for Public’s mobile app experience are overwhelmingly positive and note the ease of use, especially for beginner investors. However, there are a small handful of complaints regarding difficulty reaching customer service representatives.</p><hr /><p><a href="https://secure.money.com/pr/g12bb816f971?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=g12bb816f971&type=image" /></a></p><hr><h3>Pros</h3><ul><li>No monthly service fees</li><li>Deposit checks and make transfers with the Popular mobile app</li><li>No withdrawal limits</li><li>Easy account opening</li></ul><h3>Cons</h3><ul><li>$10 overdraft fee</li><li>$25 fee if the account is closed within 180 days</li><li>Can only change connected external bank account every 70 days</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>APY</dt><dd>5.20%</dd></dl><dl><dt>MINIMUM DEPOSIT TO OPEN</dt><dd>$100</dd></dl><dl><dt>MONTHLY FEES</dt><dd>None</dd></dl><dl><dt>ATM CARD</dt><dd>No</dd></dl><hr><p><b>Why we chose it:</b> Popular Direct’s HYSA rate is among the highest available. After the initial $100 deposit, there is no ongoing minimum balance requirement.</p><p><a href="https://secure.money.com/pr/k22eff16206f">Popular Direct</a> provides a high-earning savings option with its Select Savings account. There are no balance caps on APY, either. All balances of at least $0.01 qualify to earn the highest available annual percentage yield.</p><p>You can fund your account via mobile deposit or via transfer from an external bank account. Note that you must use the external bank account designated at account sign up for at least 70 days. You cannot change the account until after this time has passed, and any subsequent swaps must be initiated 70 days apart. Additionally, you can only link one external bank account at a time.</p><p>Popular Direct does not charge any monthly fees for its high-yield savings account. However, if you overdraft your account for more than $50, you’ll be charged $10 per transaction (with a max of three fees per business day). Additionally, there’s a $25 fee if you close your account within 180 days of opening it.</p><hr /><p class="p1"><a href="https://secure.money.com/pr/k202b7217832?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=k202b7217832&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Comparison shop more than 50+ banks and credit unions</li><li>Sort savings products by APY, digital-first and other characteristics</li><li>Many participating banks have no monthly fees</li><li>All partners are FDIC or NCUA insured</li></ul><h3>Cons</h3><ul><li>Product features and terms vary by financial institution</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>APY</dt><dd>5.26%</dd></dl><dl><dt>MINIMUM DEPOSIT TO OPEN</dt><dd>$1 and up</dd></dl><dl><dt>MONTHLY FEES </dt><dd>Varies by financial institution</dd></dl><dl><dt>ATM CARD</dt><dd>Varies by financial institution</dd></dl><hr><p><strong>Why we chose it:</strong> <a href="https://secure.money.com/pr/g3669d104944">Raisin</a> provides HYSA options from a slew of partner banks and credit unions, making it easy to compare features and choose your ideal account. Additionally, once you sign up, you can easily add more savings products to your Raisin account.</p><p>Raisin is a savings marketplace that currently features HYSAs with annual percentage yields as high as 5.26%. You can sort through offerings according to APY and product type (HYSA vs. money market account). There’s also a filter to find banks that fit specific criteria, such as not-for-profit or minority-led, as well as financial institutions that support the local community and small businesses.</p><p>There are several HYSAs available through Raisin that require a minimum initial deposit of only $1. Additionally, many of these products are free of monthly fees.</p><p>After you’ve signed up for your first savings product through Raisin, you can easily add additional accounts, including certificates of deposit (CDs), from Raisin partners. You can see all of your savings products at once on your account dashboard via the Raisin website or mobile app.</p><hr /><p><a href="https://secure.money.com/pr/ic3f09652a99?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=ic3f09652a99&type=image" /></a></p><hr><h3>Pros</h3><ul><li>No monthly balance requirement or minimum opening deposit</li><li>Any balance greater than $0.01 earns the highest APY </li><li>Mobile check deposit available</li><li>No transaction limits for transfers to external account</li></ul><h3>Cons</h3><ul><li>90-day wait period to transfer funds out</li><li>No free checks (must pay fee)</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>APY</dt><dd>5.27%</dd></dl><dl><dt>MINIMUM DEPOSIT TO OPEN</dt><dd>None</dd></dl><dl><dt>MONTHLY FEES </dt><dd>None</dd></dl><dl><dt>ATM CARD</dt><dd>No</dd></dl><hr><p><strong>Why we chose it: </strong><a href="https://secure.money.com/pr/efa491de9985?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-high-yield-savings-accounts%252F">TAB Bank</a> has a strong APY and no limit on withdrawals via online transfer to external bank accounts.</p><p>TAB Bank currently provides one of the highest rates among online high-yield savings accounts. The FDIC-insured community bank also sets no limit on how big your savings can grow; no matter the size of your account, you’ll still earn the highest available APY.</p><p>Additionally, TAB Bank doesn’t charge a monthly fee, and there’s no minimum deposit to open an account. You can fund your account via mobile check deposit or transfer from an external bank account.</p><p>However, while there is no limit on how many outgoing transactions you can make (so long as it doesn’t exceed $3,000 daily), there is a waiting period for new customers. For the first 90 days, you cannot make external transfers.</p><hr /><p class="p1"><a href="https://secure.money.com/pr/h18f87ef7387?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=h18f87ef7387&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Among the highest APYs of all companies evaluated</li><li>ATM card included</li><li>No monthly service fees</li><li>No initial deposit or minimum balance required</li></ul><h3>Cons</h3><ul><li>Overdraft fee is $25 per item ($75 maximum per day)</li><li>Only one physical branch, located in San Diego, California</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>APY</dt><dd>5.25%</dd></dl><dl><dt>MINIMUM DEPOSIT TO OPEN</dt><dd>None</dd></dl><dl><dt>MONTHLY FEES</dt><dd>None</dd></dl><dl><dt>ATM CARD</dt><dd>Yes</dd></dl><hr><p><strong>Why we chose it:</strong> <a href="https://secure.money.com/pr/e951157703c2">UFB Direct</a> is our choice for Best High-Yield Savings with ATM Card because it includes a debit card with its high-yield savings account and doesn’t limit the number of withdrawals you can make.</p><p>UFB Direct, a division of the digital financial institution Axos Bank, currently offers one of the highest APYs in the high-yield savings account market. Additionally, the UFB High Yield Savings account comes with a debit card, which isn’t standard for accounts of this kind. Plus, there’s no cap on how many withdrawals you can make.</p><p>However, it’s worth noting that UFB charges a $25 fee for each charge that exceeds your account balance. (The maximum fee you can pay in a single day is $75.) The only overdraft protection UFB offers is coverage of negative balances through linked UFB checking accounts.</p><p>Still, with no monthly fees and no minimum deposit or balance requirements, UFB’s high-yield savings account is a solid choice — especially considering its competitive annual percentage rates.</p><hr /><p><a href="https://secure.money.com/pr/o9f7bc34808d?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-high-yield-savings-accounts%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=o9f7bc34808d&type=image" /></a></p><h2>High-Yield Savings Accounts Guide</h2><p>High-yield savings accounts are relatively easy to understand but share many characteristics with other bank products. Read on to learn about high-yield savings accounts, from how they work to which features to look for when choosing an account.</p><h3>What is a high-yield savings account?</h3><p><a href="https://money.com/what-is-a-high-yield-savings-account/">A high-yield savings account (HYSA)</a> typically earns a higher interest rate on your balance than the traditional, average savings account. Currently, you can find many HYSAs with high interest rates starting at 5.00%.</p><p>Some high-yield savings accounts operate on a tiered interest rate system, under which balances of a certain size earn a lower annual percentage yield. Be sure to check the details of a HYSA product before signing up for an account.</p><h3>How does a high-yield savings account work?</h3><p>Because a high-yield savings account is intended for savings — as opposed to spending, like a checking account — many banks, credit unions and other financial institutions offering these accounts impose limits on how many withdrawals you can make per statement cycle.</p><p>These accounts don’t typically always come with an ATM card or checks. Instead, withdrawals are possible via transfer to an external bank account. You can also fund your account via online transfer. Some financial institutions also offer mobile check deposit and direct deposit.</p><h3>How to open a high-yield savings account</h3><ul><li>Apply online, over the phone, or if the bank has brick-and-mortar branches, go there in person</li></ul><ul><li>Enter personal information, such as full name, address, driver’s license or government-issued ID, phone number, Social Security number and where your deposits will come from (e.g., transfers from other accounts, direct deposits, mobile deposits) as requested</li></ul><ul><li>Agree to terms and conditions after reviewing; check for fees and specifics on rates</li></ul><ul><li>Receive instant approval or, in some cases, wait for confirmation from the bank via email or regular mail</li></ul><ul><li>Consider setting up direct deposit if required to earn the highest APY. You can also transfer funds into your account from another institution through online transfer. With brick-and-mortar banks, you can deposit funds in person.</li></ul><h3>How to pick a high-yield savings account</h3><p>Follow these steps to pick a high-yield savings account that fits your needs.</p><p><strong>1. Evaluate your savings goals</strong>: If you’re looking for fast but small gains on your savings, a high-yield savings account may be right for you. However, if you’re looking to turn a greater profit, you may want to consider other savings or investment options.</p><p><strong>2. Compare APYs across HYSAs:</strong> Look at savings account interest rates at a variety of banks to find the top interest rates. (Our best high-yield savings accounts list is a great place to start.)</p><p><strong>3. Look for accounts with zero fees</strong>: Many HYSAs are entirely free to use, while some banks set a monthly fee that can be waived by meeting certain requirements, such as a set amount of direct deposits per cycle. Avoid accounts with monthly fees that can’t be waived, as these costs cut into your interest earnings.</p><p><strong>4. Make sure your bank notes “member FDIC” or “member NCUA”</strong>: You’ll find this information at the bottom of the financial institution’s website. FDIC insurance or NCUA insurance is a must, because it safeguards your money if your bank or credit union should fail due to bankruptcy or insolvency.</p><h3>High-Yield Savings Account Glossary</h3><ul><li><strong>Annual Percentage Yield (APY)</strong> – APY is the effective rate of return on your investment after factoring in the effects of compound interest. The APY is considered in relation to the federal funds rate set by the Federal Reserve, also called the Fed.</li></ul><ul><li><strong>Interest </strong>– Simply put, interest is the amount of money that a bank pays its customers to hold their money. It is usually expressed as a percentage of the amount that each individual customer has deposited.</li></ul><ul><li><strong>Compound</strong> <strong>interest </strong>– You can think of compound interest as “interest on your interest.”</li></ul><ul><li><strong>Savings account </strong>– A type of bank account with higher interest rates than a checking account. They’re designed to help you put away money for an emergency fund or other short-term savings goals.</li></ul><ul><li><strong>High-yield savings account</strong> – A type of savings account with a higher interest rate and higher APYs than a traditional savings account. They’re meant to help you build funds for short- or medium-term purchase goals, such as a new car, college or even a new home.</li></ul><ul><li><strong>Money market account</strong> – Money market accounts are similar to high-yield savings accounts but aimed at businesses. They are more likely to allow for debit cards and checks, particularly for individual employees who need to access business funds regularly.</li></ul><ul><li><strong>Checking account</strong> – A type of bank account designed for everyday spending. They allow for checks and ATM cards. The interest rates offered by these accounts are typically the lowest.</li></ul><ul><li><strong>Neobank</strong> – This type of bank is an online-only bank with no physical branches. It’s considered a type of fintech (financial technology) company.</li></ul><ul><li><strong>ACH</strong> <strong>transfer </strong>– An ACH transfer is an electronic transfer of funds from one bank to another. The ACH stands for “automated clearing house,” referring to the network that manages these transfers.</li></ul><ul><li><strong>FDIC/NCUA insurance </strong>– Money in a brick-and-mortar bank, online bank, credit union or any type of financial institution is secure as long as the financial institution is insured by the FDIC (Federal Deposit Insurance Corporation) or NCUA (National Credit Union Administration). Most high-yield savings accounts are FDIC or NCUA-insured at the standard of 250,000 per depositor, per account.</li></ul><h3>High-yield savings account alternatives</h3><p>High-yield savings accounts are one way to save money and earn interest, but there are additional options to consider.</p><h4>Money market account (MMA)</h4><p>A money market account (MMA) is a type of high-interest savings account that typically does not have monthly fees. Annual percentage yields for MMAs tend to be on par with or higher than those of high-yield savings accounts. Minimum initial deposit requirements vary.</p><p>Depending on the financial institution, you can access your money market account funds via electronic transfer, ATM withdrawals, debit cards, checks or in person at a brick-and-mortar bank. Like HYSAs, the number of withdrawals you can make per cycle may be limited.</p><p>To learn more about MMAs, see our list of the <a href="https://money.com/best-money-market-accounts/">best money market accounts</a>.</p><h4>Traditional savings account</h4><p>Traditional savings accounts have historically offered the lowest annual percentage yields of all savings producers. However, many financial institutions now offer accounts with APYs that compete with HYSAs.</p><p>Like with a HYSA, most traditional savings accounts do not charge monthly fees. Access to funds is via electronic transfer and at bank branches. Depending on the financial institution, you may also be provided checks. However, most traditional savings accounts do not include an ATM card or debit card.</p><p>To learn more about traditional savings accounts, see our guide to the <a href="https://money.com/best-savings-accounts/">best savings accounts</a>.</p><h4>Certificate of deposit (CD)</h4><p>With a certificate of deposit (CD) account, you agree to leave your funds in your account for a fixed period of time, referred to as the CD term length, that can range from six to 72 months. You’ll likely incur a fee if you withdraw funds before the term ends.</p><p>Certificate of deposit rates are fixed, not variable, and may be slightly higher than those offered by HYSAs. Often, CD rates increase with longer term lengths.</p><p>To learn more about certificates of deposit, check out our list of the <a href="https://money.com/best-cd-rates/">best CD rates</a>.</p><h4>Money market fund (MMF)</h4><p>A money market fund (MMF) is a type of mutual fund regulated by the U.S. Securities and Exchange Commission (SEC). You earn interest on your money market funds because the bank or financial institution invests those funds on your behalf across several low-risk debt securities, such as Certificates of Deposit (CDs), U.S. Treasury bills and corporate bonds.</p><p>To learn more about money market funds, see our comparison of <a href="https://money.com/money-market-account-vs-money-market-fund/">money market accounts vs. money market funds</a>.</p><h4>Checking account</h4><p>Checking accounts aren’t typically used for saving, but instead for receiving and spending money. However, some checking accounts do accrue interest, albeit at significantly lower rates than those offered by high-yield savings accounts. Some also offer cash back on purchases and sign-up bonuses on new accounts. Monthly fees for checking accounts are rare.</p><p>Looking for a checking account with benefits? See our list of the <a href="https://money.com/best-checking-accounts/">best checking accounts</a>.</p><hr><h2>Best High-Yield Savings Accounts FAQs</h2><h3>What is a high-yield savings account?</h3><p>High-yield savings accounts are deposit accounts that pay higher interest rates than standard savings accounts. Many financial institutions currently offer rates four percentage points above the national average rate indicated by the Federal Deposit Insurance Corporation (FDIC).</p><h3>Are online savings accounts safe?</h3><p>Yes, online savings accounts are a safe way to invest. Like brick-and-mortar banks and credit unions, online savings accounts and high-yield online savings accounts are insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA) for up to $250,000 per bank, per depositor, per account type.</p><h3>Are high-yield savings accounts worth it?</h3><p>If you're a saver looking to earn interest on the funds you've set aside, a high-yield savings account at a financial institution that offers a high annual percentage yield is a good option. However, if your personal finance goals require fast growth of your funds, other options, such as investments, may offer quicker returns.</p><h3>Are high-yield savings accounts taxed? </h3><p>Yes, high-yield savings accounts are subject to state and federal income tax. The interest you earn from your high-yield savings account is considered income. This also applies to other interest-bearing banking products, such as certificates of deposits (CDs) or checking accounts that accrue interest.</p><h3>Can you lose money in a high-yield savings account?</h3><p>If your high-yield savings account does not grow at the same rate as inflation, you will lose money in the sense that the purchasing power of your savings will diminish. High-yield savings accounts can also make you lose money if you don't keep track of maintenance and service fees and wind up paying more than you're earning.</p><hr><h2>How We Chose the 11 Best High-Yield Savings Accounts of 2024</h2><p>To identify the best high-yield savings accounts, we evaluated more than 50 banks, credit unions, online banks and other financial institutions. Below you’ll find the methodology behind our choices for the best high-yield savings accounts.</p><ul><li><strong>Access to funds:</strong> We reviewed each account’s methods for withdrawal and deposits, such as electronic transfers, wire transfers, mailed checks or linking to external checking accounts. Easy access via ATM withdrawals is a plus; not all banks offer debit cards with high-yield savings accounts.</li></ul><ul><li><strong>Account fees:</strong> We looked for accounts with no maintenance fees, no minimum balance fees and free online transfers. We also prioritized banks that do not charge overdraft fees. For accounts with debit cards, we checked ATM fee policies.</li></ul><ul><li><strong>Competitive annual percentage yield rates:</strong> Financial institutions must offer competitive rates as compared to the average among the high-yield savings accounts we evaluated. Some banks were disqualified because of low annual percentage yields.</li></ul><ul><li><strong>Customer service: </strong>We recognize that direct banking customers should be familiar with online and mobile platforms, but customer support must be readily available when needed. The best online savings accounts offer chat, phone, and email support; some even guarantee 24/7 customer support.</li></ul><ul><li><strong>Ease of use and accessibility:</strong> Mobile banking apps and online platforms should be user-friendly and intuitive.</li></ul><ul><li><strong>Financial strength:</strong> We verified that the banks, credit unions and other financial institutions on our list are in good financial standing using credit ratings issued by S&P Global Ratings, Moody’s and Fitch Group. (These credit rating agencies are known as The Big Three in the industry, and you can search their databases for information on the bank of your choice.)</li></ul><ul><li><strong>Member FDIC or NCUA:</strong> We require that any top pick includes “member FDIC” on its site to make it publicly known that it’s an insured bank or financial institution in accordance with the standards of the Federal Deposit Insurance Corporation (FDIC).</li></ul><ul><li><strong>Minimum deposit requirement:</strong> We considered accounts with no or low minimum deposit requirements and included these only when merited through benefits to account holders.</li></ul><ul><li><strong>Mobile app</strong>: We assessed the ease of use as well as the ratings of the mobile apps of each financial institution.</li></ul><ul><li><strong>Perks: </strong>We looked for banks that offer account holders additional features for free, such as savings tools or a debit card/ATM card.</li></ul><ul><li><strong>Privacy:</strong> Financial companies often share your personal information so that you can use their products effectively. Details about information sharing should be clearly stated in a financial institution’s privacy policy. However, customers should be given the choice to opt out of sharing their personal information with third parties, as per federal law.</li></ul><ul><li><strong>Security:</strong> We analyzed banking sites and mobile app security measures, such as end-to-end data encryption, multi-factor authentication and biometric login options.</li></ul><ul><li><strong>Transparency:</strong> Financial institutions must make easily accessible the account terms and conditions, such as monthly fees, overdraft charges and interest rates.</li></ul><hr><div class="m00646-mc-why-trust-us"><div class="why-content"><h3>Comparison to other banks and financial institutions</h3><div class="why-content-txt"><p>To best evaluate the quality of a high-yield savings account, we researched and compared accounts across a multitude of banks and financial institutions, including Alliant Credit Union, Ally Bank, American Express high-yield savings from American Express National Bank, Andrews Federal Credit Union, Apple Savings account, Axos, Bank of America, Barclays Online Savings, Bask Bank, BECU Credit Union, Betterment, Blue Federal Credit Union, BluPeak Credit Union, BMO Alto, Bread Savings, Capital One 360 Performance Savings, CFG Bank, Chase Savings, CIBC Bank, CIT Bank Savings Builder, CIT Bank Savings Connect, CIT Bank Platinum Savings, CITI Bank Accelerate Savings, Citi Bank, Citizens Bank, Current, Customers Bank, Discover, Emigrant Bank, EverBank (formerly TIAA Bank), First Citizens Bank, First Foundation, Evergreen Bank Group, First Foundation Bank, First Internet Bank, FNBO Direct, Jenius Bank, Jovia Financial Credit Union, Laurel Road, LendingClub, Live Oak Bank, Marcus by Goldman Sachs, Milli Bank, Mph.bank, My Savings Direct, Nationwide, North American Savings Bank, PayPal Savings, Pentagon Federal Credit Union (PenFed), Primis, RBMAX by Republic Bank, Quontic Bank, Regions Bank, Sallie Mae Bank, Salem Five Direct, SoFi, Synchrony Bank, TotalDirect Bank, Upgrade, U.S. Bank, USAA Bank, Valley Direct, Varo Bank, Vio Bank, Wealthfront, Wells Fargo and Western State Bank.</p></div></div></div><hr><h2>Summary of Money’s 11 Best High-Yield Savings Accounts of 2024</h2><p>The companies listed below are in alphabetical order.</p><ul><li><strong><a href="#Brio">BrioDirect</a> </strong>– Best High-Yield Savings Account with a $5,000 Minimum Deposit (5.35% APY)</li><li><strong><a href="#DCU">Digital Federal Credit Union (DCU)</a> </strong>– Best APY for Balances Up to $1,000 (6.17% APY)</li><li><a href="#Ivy"><strong>Ivy Bank</strong></a> – Best High-Yield Savings with a $2,500 Minimum Deposit (5.30% APY)</li><li><a href="#Jenius"><strong>Jenius Bank</strong></a> – Best High-Yield Savings for Unlimited Transfers (5.25% APY)</li><li><strong><a href="#banking">My Banking Direct</a></strong> – Best High-Yield Savings Account with a $500 Minimum Deposit (5.55% APY)</li><li><a href="#Newtek"><strong>Newtek Bank</strong></a> – Best High-Yield Savings Account Rate with No Minimum Deposit (5.25% APY)</li><li><a href="#Public"><strong>Public</strong></a> – Best for Investors (5.10% APY)</li><li><strong><a href="#Popular">Popular Direct</a> </strong> – Best High-Yield Savings Account with a $100 Minimum Deposit (<span style="font-weight: 400">5.15</span>% APY)</li><li><a href="#Raisin"><strong>Raisin</strong></a> – Best Marketplace for High-Yield Savings Accounts (5.26% APY)</li><li><strong><a href="#tabbank">TAB Bank </a></strong>– Best Online Bank for High-Yield Savings (5.27% APY)</li><li><strong><a href="#ufb">UFB Direct</a> </strong> – Best High-Yield Savings with an ATM Card (5.25% APY)</li></ul>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5940770</post-id> <media:thumbnail url="https://img.money.com/2023/12/Best-High-Yield-Savings-Accounts-mbci_mb6w3__bhv7ew.jpg?quality=85" /> <media:content url="https://img.money.com/2023/12/Best-High-Yield-Savings-Accounts-mbci_mb6w3__bhv7ew.jpg?quality=85" medium="image"> <media:title type="html">Best-High-Yield-Savings-Accounts</media:title> </media:content> </item> <item> <title>11 Best Background Check Sites of May 2024</title> <link>https://money.com/best-background-check-sites/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Tue, 30 Apr 2024 17:59:54 +0000</pubDate> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5940741</guid> <description><![CDATA[Best Background Check Sites.]]></description> <content:encoded><![CDATA[<hr /><p>Our editorial staff has close to a decade of experience in the background investigations industry, and our team has invested hundreds of hours researching the best background check sites. We’ve vetted 16 background check companies based on over 100 data points and reviewed the extensiveness of their searches, pricing and customer reviews. We also personally tested many of the sites on this list to assess user experience and accuracy of the results. Using this research, we picked the top nine background search sites, which include Checkr, HireRight and First Advantage.</p><p><a href="https://secure.money.com/pr/g74ac69ee628?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=g74ac69ee628&type=image" /></a></p><h2>Money’s Main Takeaways</h2><ul><li>There are different types of background checks — some are regulated by the Fair Credit Reporting Act (FCRA) and some are not.</li></ul><ul><li>If you’re conducting background checks on potential employees, domestic workers or tenants, you need a background check company that complies with the FCRA. This federal privacy protection law places limits on the kind of information that you can obtain on others.</li></ul><ul><li>By contrast, people-search background check sites don’t need to follow FCRA provisions. You can use these services to conduct searches on yourself, a new neighbor or someone you’re seeing.</li></ul><ul><li>People search sites can be a useful tool for finding relatives or doing reverse phone searches. However, using them for hiring or tenancy purposes is a federal law violation.</li></ul><hr><div class="m00646-mc-why-trust-us"><div class="why-content"><h3>Why Trust Us?</h3><div class="why-content-txt"><p>Our editorial team uses its extensive knowledge and experience in the background check industry to independently assess screening companies, ensuring we provide readers with accurate and helpful information. Read the <a href="#methodology">full methodology</a> below to learn more.</p><ul><li>Over 100 data points evaluated</li><li>16 background check companies vetted</li><li>More than 80 authoritative sources used</li></ul></div></div></div><hr><h2>Our Top Picks for Background Check Sites of May 2024</h2><h4>People Search Background Check Sites</h4><ul><li><a href="#instant">Instant Checkmate</a> – Best for Unlimited Reports</li><li><a href="#truth">TruthFinder</a> – Best for Comprehensive People Searches</li><li><a href="#been">BeenVerified</a> – Best for Vehicle Searches</li><li><a href="#spokeo">Spokeo</a> – Best for Budget Searches</li><li><a href="#intelius">Intelius</a> – Best for Trial Periods</li><li><a href="#us">US Search</a> – Best for Affordable Unlimited Reports</li></ul><h4>FCRA-Compliant Background Screening Sites</h4><ul><li><a href="#checkr">Checkr</a> – Best for Pre-employment Screenings</li><li><a href="#TransUnion">TransUnion SmartMove</a> – Best for Tenant Screenings</li><li><a href="#first">First Advantage</a> – Best for International Background Checks</li><li><a href="#hireright">HireRight</a> – Best for Custom Industry Packages</li><li><a href="#GoodHire">GoodHire</a> – Best for Small Businesses</li></ul><p class="p1"><a href="https://secure.money.com/pr/n062079ae24c?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=n062079ae24c&type=image" /></a></p><h2>Best Background Check Site Reviews</h2><h3>People Search Background Check Sites</h3><hr /><p>Unlike FCRA-compliant companies, these background search sites cannot be used for employment or tenancy purposes. You can, however, use them to conduct personal searches.</p><p class="p1"><a href="https://secure.money.com/pr/m78efd3b5cae?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=m78efd3b5cae&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Unlimited number of reports</li><li>Deep web monitoring</li><li>A+ rating with the Better Business Bureau</li></ul><h3>Cons</h3><ul><li>No option for single report</li><li>FTC lawsuit alleging FCRA violations and deceptive marketing practices</li></ul><hr><p><strong>Why we chose it: </strong>Instant Checkmate made our list because it offers unlimited reports for subscribers.</p><p>Customers can use Instant Checkmate to search public records and other available data sources. Its reports contain date of birth, addresses, contact information, criminal convictions and other public information. Unlike many competitors, its subscriptions include unlimited searches and reports.</p><p>Instant Checkmate’s subscription search types and pricing is:</p><ul><li><strong>Person Reports</strong> for $35.12 a month or $28.09 a month for a 3-month membership</li></ul><ul><li><strong>Reverse Phone Lookup</strong> for $5.99 a month</li></ul><p>While both subscriptions include unlimited reports, downloading them costs an additional $3.99 one-time payment.</p><p>Upgrading to a premium report ($19.99 per report) will get you additional information if available, such as records of weapons or hunting permits, properties owned and foreclosures or tax liens.</p><p>We signed up for a 5-day trial to test the service. The search took about 10 minutes and results included address history, possible relatives or associates and traffic infractions. (The subject of our investigation didn’t have felony or misdemeanor charges to find.) While the relatives and address history in the report matched our subject, not all the possible associates and relationships did. Additionally, while the results listed multiple traffic infractions, one was incorrect and we were not able to find the other records when we searched county courts directly.</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col style="width:50%" /></colgroup><thead><tr><th colspan="2"><p style="text-align: left"><strong>Instant Checkmate reports may include:</strong></p></th></tr></thead><thead><tr><th><p>Standard Background Report</p></th><th><p>Premium Report</p></th></tr></thead><tbody><tr><td><ul><li style="text-align: left">Date of birth</li></ul><ul><li style="text-align: left">Phone numbers</li></ul><ul><li style="text-align: left">Address history</li></ul><ul><li style="text-align: left">Relatives</li></ul><ul><li style="text-align: left">Arrest records</li></ul><ul><li style="text-align: left">Government license information</li></ul><ul><li style="text-align: left">Social media profiles</li></ul><ul><li style="text-align: left">Email addresses</li></ul><ul><li style="text-align: left">Nearby sex offenders</li></ul></td><td><ul><li style="text-align: left">Civil judgments</li></ul><ul><li style="text-align: left">Corporate affiliations</li></ul><ul><li style="text-align: left">Watercraft owned</li></ul><ul><li style="text-align: left">UCC filings</li></ul><ul><li style="text-align: left">Properties owned</li></ul><ul><li style="text-align: left">Voter registration</li></ul><ul><li style="text-align: left">Old phone numbers</li></ul><ul><li style="text-align: left">Email addresses</li></ul><ul><li style="text-align: left">Tax liens</li></ul><ul><li style="text-align: left">Professional licenses</li></ul><ul><li style="text-align: left">Hunting/fishing permits</li></ul><ul><li style="text-align: left">Weapons permits</li></ul><ul><li style="text-align: left">Foreclosures</li></ul><ul><li style="text-align: left">Aircraft owned</li></ul><ul><li style="text-align: left">Neighbors</li></ul><ul><li style="text-align: left">Business associates</li></ul></td></tr></tbody></table><hr><p>Learn more on <a href="https://secure.money.com/pr/z816e499ad83">Instant Checkmate’s Secure Website >></a></p><hr /><p class="p1"><a href="https://secure.money.com/pr/mf96d230fee2?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=mf96d230fee2&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Allows fine-tuning of results</li><li>Dark web monitoring upgrade available</li><li>Provides customer support over the phone</li><li>A+ rating with the Better Business Bureau</li></ul><h3>Cons</h3><ul><li>Additional cost to download reports</li><li>Not FCRA-compliant</li><li>FTC lawsuit alleging FCRA violations and deceptive marketing practices</li><li>Some customers claim they've had trouble canceling the service or have being billed after cancellation</li></ul><hr><p><strong>Why we chose it:</strong> We selected TruthFinder because it offers additional services such as dark web monitoring and a report monitoring feature that alerts you when reports are updated.</p><p>TruthFinder services include people search, reverse phone number lookup and reverse email lookup. It also offered reverse address lookup, but the service is under maintenance.</p><p>TruthFinder’s membership options are:</p><ul><li><strong>People search</strong> with unlimited persons and location reports for $28.05 a month (or $23.28 a month if you subscribe on a bi-monthly basis)</li></ul><ul><li><strong>Reverse email lookup</strong> that includes unlimited person and email reports for $29.73 a month</li></ul><ul><li><strong>Reverse phone lookup</strong> for $4.99 a month including unlimited email reports</li></ul><p>For an extra $3.99 a month, you can download reports and monitor them for updates.</p><p>For $2.99, TruthFinder also offers dark web monitoring, which alerts you if your credentials appear on the dark web.</p><p>When we tested TruthFinder, we found that the search takes about 15 minutes. The report looked very similar to reports from other competitors. It had accurate personal info, including aliases and possible relatives. However, it lacked a list of relationships, and the individuals listed as possible associates appeared to be people who lived at the same address but at different times.</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col style="width:50%" /></colgroup><thead><tr><th colspan="2"><p style="text-align: left"><strong>TruthFinder Person Reports may include:</strong></p></th></tr></thead><thead><tr><th></th><th></th></tr></thead><tbody><tr><td rowspan="1"><ul><li style="text-align: left">Full names</li></ul><ul><li style="text-align: left">Known aliases</li></ul><ul><li style="text-align: left">Age</li></ul><ul><li style="text-align: left">Employment history</li></ul><ul><li style="text-align: left">Education history</li></ul><ul><li style="text-align: left">Possible relatives</li></ul><ul><li style="text-align: left">Possible associates and relationships</li></ul><ul><li style="text-align: left">Phone number</li></ul><ul><li style="text-align: left">Address</li></ul><ul><li style="text-align: left">Criminal and traffic records</li></ul><ul><li style="text-align: left">Social profiles</li></ul></td><td><ul><li style="text-align: left">Possible business affiliations</li></ul><ul><li style="text-align: left">Hunting permits</li></ul><ul><li style="text-align: left">Weapons permits</li></ul><ul><li style="text-align: left">Bankruptcies</li></ul><ul><li style="text-align: left">Liens</li></ul><ul><li style="text-align: left">Civil judgments</li></ul><ul><li style="text-align: left">Foreclosures</li></ul><ul><li style="text-align: left">Evictions</li></ul><ul><li style="text-align: left">Properties owned</li></ul><ul><li style="text-align: left">Vehicles owned or driven</li></ul></td></tr></tbody></table><hr><p>Learn more on <a href="https://secure.money.com/pr/ya0a3fd82de7">TruthFinder’s Secure Website >></a></p><hr /><p class="p1"><a href="https://secure.money.com/pr/x6f25fd218a6?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=x6f25fd218a6&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Extended customer service chat (6:00 am to 11:30 pm EST)</li><li>Has both Apple and Android apps available</li><li>Download reports at no extra cost</li></ul><h3>Cons</h3><ul><li>Limited to 100 reports a month</li><li>Pricing only found at checkout</li><li>C grade with the Better Business Bureau</li><li>Several customers alleged service isn't clearly labeled as a subscription</li></ul><hr><p><strong>Why we chose it:</strong> Unlike other background search sites, customers can use BeenVerified to make vehicle searches using the car’s VIN Number.</p><p>Our search on BeenVerified took under 10 minutes and the one result it provided was our intended subject. (Other services gave us results for people with the same or similar names.) We found the report to be more detailed than other providers, especially the section on possible relatives, which included addresses. However, some of the relatives listed were inaccurate.</p><p>Additionally, unlike competitors who list traffic records based on the subject’s partial name, the report included only those under our subject’s full name (that is, first, middle and last name).</p><p>BeenVerified memberships include standard people search services such as reverse phone, email and address lookup, as well as username search, vehicle lookup, criminal records and arrest warrants.</p><p>BeenVerified memberships and pricing are:</p><ul><li><strong>One-month membership</strong> for $29.99</li><li><strong>Three-month membership</strong> for $19.49 a month ($58.48 in total)</li><li><strong>Seven-day trial </strong>for $1.00</li></ul><p>Where BeenVerified stands out among competitors is in providing these services through its mobile phone apps. Its Android and iOS apps have a 3.6 and 4.6 rating in their respective app stores.</p><p>When using the apps, users can not only conduct searches on-the-go, but they can also access reports collected on other mobile devices or on their desktops.</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col style="width:100%" /></colgroup><thead><tr><th colspan="1"><p style="text-align: left"><strong>BeenVerified reports may include:</strong></p></th></tr></thead><thead><tr><th></th></tr></thead><tbody><tr><td><ul><li style="text-align: left">Full name</li></ul><ul><li style="text-align: left">Aliases</li></ul><ul><li style="text-align: left">Age</li></ul><ul><li style="text-align: left">Address history</li></ul><ul><li style="text-align: left">Current and past addresses</li></ul><ul><li style="text-align: left">Phone numbers</li></ul><ul><li style="text-align: left">Email addresses</li></ul><ul><li style="text-align: left">Possible photos</li></ul><ul><li style="text-align: left">Possible associates</li></ul><ul><li style="text-align: left">Traffic and criminal records</li></ul><ul><li style="text-align: left">Bankruptcies</li></ul><ul><li style="text-align: left">Education, employers and business associations</li></ul><ul><li style="text-align: left">Social media platforms</li></ul><ul><li style="text-align: left">Blogs</li></ul><ul><li style="text-align: left">Websites</li></ul></td></tr></tbody></table><hr><p>Learn more on <a href="https://secure.money.com/pr/s57f57a81370">BeenVerified’s Secure Website >></a></p><hr /><p class="p1"><a href="https://secure.money.com/pr/h462d9b58709?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=h462d9b58709&type=image" /></a></p><hr><h3>Pros</h3><ul><li>One of the most affordable search services</li><li>Results returned within a minute or so for most checks</li><li>A- grade with the Better Business Bureau</li></ul><h3>Cons</h3><ul><li>Complicated pricing structure</li><li>Not FCRA-compliant</li><li>Must purchase Investigator Membership Upgrade to download reports</li><li>Customer reviews allege they were charged for a subscription when they only ordered one search</li></ul><hr><p><strong>Why we chose it:</strong> We selected Spokeo for our list because its people search services are more affordable than competitors.</p><p>With Spokeo, customers can search public records by using a person’s name, email, phone number or street address. Free searches show a person’s name, phone and email, along with other publicly available information.</p><p>When we tested the service, the search took a little over five minutes. However, it yielded thousands of possible subjects. We had to manually narrow our search by state and city, then look at each profile to find a match.</p><p>Additionally, users must pay $19.95 to access details such as age, address history, name variations, properties, licenses and possible relatives.</p><p>Spokeo also offers a $19.99 background report upgrade which includes marital status records, bankruptcies, foreclosure and more.</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col style="width:50%" /></colgroup><thead><tr><th colspan="2"><p style="text-align: left"><strong>Spokeo reports may include:</strong></p></th></tr></thead><thead><tr><th></th><th></th></tr></thead><tbody><tr><td rowspan="1"><ul><li style="text-align: left">Name</li></ul><ul><li style="text-align: left">Aliases</li></ul><ul><li style="text-align: left">Phone numbers</li></ul><ul><li style="text-align: left">Email address</li></ul><ul><li style="text-align: left">Current and past address</li></ul><ul><li style="text-align: left">Family and associates</li></ul><ul><li style="text-align: left">Marital status</li></ul><ul><li style="text-align: left">Education history</li></ul></td><td><ul><li style="text-align: left">Birth information</li></ul><ul><li style="text-align: left">Hobbies and interests</li></ul><ul><li style="text-align: left">Property record</li></ul><ul><li style="text-align: left">Investments</li></ul><ul><li style="text-align: left">Estimated salary</li></ul><ul><li style="text-align: left">Criminal records</li></ul><ul><li style="text-align: left">DUIs</li></ul><ul><li style="text-align: left">Sex offense</li></ul></td></tr></tbody></table><hr><p>Learn more on <a href="https://secure.money.com/pr/ccc41e00174b">Spokeo’s Secure Website >></a></p><hr /><p class="p1"><a href="https://secure.money.com/pr/z853d66ae9e2?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=z853d66ae9e2&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Multiple plans to choose from</li><li>Subscriptions include unlimited reports</li><li>A+ grade with the Better Business Bureau</li></ul><h3>Cons</h3><ul><li>Customer service difficult to reach</li><li>Customers claimed they were charged for a subscription after calling to cancel free trial</li></ul><hr><p><strong>Why we chose it:</strong> We selected Intelius because it offers several product trials so customers can try out the service without having to commit to a membership.</p><p>Intelius, similar to other background check services on this list, offers reverse phone lookup, reverse address lookup and other public records searches. It stands out thanks to its affordable trial periods, perfect for people who’d like to do a quick search but don’t want to commit to a monthly subscription.</p><p>The first is a <strong>$0.95 five-day reverse phone lookup and people search trial</strong> with unlimited phone, person and address reports. These reports may contain the phone owner’s name, photo, address, social media profiles, address history, related persons and more.</p><p>Intelius also has a <strong>$0.95 six-day trial</strong> that includes reverse phone lookup plus people search with unlimited phone, persons and address reports. The reports may include the name of the phone number’s owner, their address and social media profiles.</p><p>The other trial is a <strong>seven-day address lookup and people search option for $0.95.</strong> Members get unlimited address and persons reports that can include name of the residents, location details, ownership history, property value, evictions and other information about the address.</p><p>Intelius also offers the following subscriptions:</p><ul><li><strong>People Search</strong> for $25.11 a month (or $21.35 a month for a bi-monthly subscription)</li></ul><ul><li><strong>Reverse Phone Lookup</strong> (plus people search) for $35.30 a month</li></ul><ul><li><strong>Address Lookup</strong> (including people search) for $34.95 a month</li></ul><p>When we tested the service, the preliminary search took two minutes and yielded a list of several individuals. We then had to select the most accurate result from the list before continuing with the full search, which took another 10 minutes or so.</p><p>The background report on our subject included their correct age, known aliases, address history and possible relatives. However, other details were inaccurate, specifically, some traffic records that didn’t match our subject’s full name.</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col style="width:50%" /></colgroup><thead><tr><th colspan="2"><p style="text-align: left"><strong>Intelius reports may include:</strong></p></th></tr></thead><thead><tr><th></th><th></th></tr></thead><tbody><tr><td rowspan="1"><ul><li style="text-align: left">Full name</li></ul><ul><li style="text-align: left">Phone number</li></ul><ul><li style="text-align: left">Past and present addresses</li></ul><ul><li style="text-align: left">Age</li></ul><ul><li style="text-align: left">Date of birth</li></ul><ul><li style="text-align: left">Relatives</li></ul><ul><li style="text-align: left">Aliases</li></ul></td><td><ul><li style="text-align: left">Social network profiles</li></ul><ul><li style="text-align: left">Criminal and traffic records</li></ul><ul><li style="text-align: left">Marriage and divorce records</li></ul><ul><li style="text-align: left">Lawsuits they’ve been involved in</li></ul><ul><li style="text-align: left">Bankruptcies</li></ul><ul><li style="text-align: left">Liens</li></ul></td></tr></tbody></table><hr><p>Learn more on <a href="https://secure.money.com/pr/cf6c2829086e">Intelius’s Secure Website >></a></p><hr /><p class="p1"><a href="https://secure.money.com/pr/n52f526c6b44?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=n52f526c6b44&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Occasional promotional offers</li><li>Good customer support</li><li>No additional fees</li><li>Owned by Intelius, which has an A+ grade with the Better Business Bureau</li></ul><h3>Cons</h3><ul><li>Inaccuracies reported by some users</li></ul><hr><p><strong>Why we chose it:</strong> US Search offers unlimited searches each month for a flat fee with no additional charges, making them a great option if you’re looking for background check searches in bulk.</p><p>US Search, like all people search services, uses publicly available records from across the U.S. to create its reports. Searches yield basic background information along with financial information (such as assets and real estate holdings), bankruptcies, civil actions, and criminal and traffic records. The user interface for its individual accounts is a little clunky, but the results are easy to read.</p><p>US Search markets itself as a service for legal professionals who need to do background research for cases. It may be useful for lawyers as a starting point for their investigations as users can get unlimited reports and unlimited PDF downloads for $59 a month or $599 a year.</p><p>US Search offers the following subscriptions:</p><ul><li><strong>Standard Background Report</strong> for $19.86 a month (unlimited reports)</li></ul><ul><li><strong>Phone Number Lookup</strong> (includes person reports) for $19.86 a month (five-day trial for $1.99)</li></ul><ul><li><strong>Address Lookup</strong> (including person reports) for $19.86 a month (five-day trial for $1.99)</li></ul><p>We tested US Search and got preliminary results in under five minutes. These results were very broad, showing subjects with similar first or last names. After inputting our subject’s middle initial to refine the search, we got one result. We chose to pay the additional $3.99 to download the report and found that the report had our subject’s correct age, known aliases, address history and possible relatives.</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col style="width:50%" /></colgroup><thead><tr><th colspan="2"><p style="text-align: left"><strong>US Search reports may include:</strong></p></th></tr></thead><thead><tr><th></th><th></th></tr></thead><tbody><tr><td rowspan="1"><ul><li style="text-align: left">Addresses</li></ul><ul><li style="text-align: left">Phone numbers</li></ul><ul><li style="text-align: left">Email addresses</li></ul><ul><li style="text-align: left">Social networks</li></ul><ul><li style="text-align: left">Employment history</li></ul><ul><li style="text-align: left">Financial information</li></ul><ul><li style="text-align: left">Bankruptcies</li></ul><ul><li style="text-align: left">Civil judgments</li></ul><ul><li style="text-align: left">Liens</li></ul><ul><li style="text-align: left">Criminal, arrest and traffic records</li></ul></td><td><ul><li style="text-align: left">Potential relatives</li></ul><ul><li style="text-align: left">Neighbors</li></ul><ul><li style="text-align: left">Associates</li></ul><ul><li style="text-align: left">Assets</li></ul><ul><li style="text-align: left">Owned properties</li></ul><ul><li style="text-align: left">Previously owned properties</li></ul><ul><li style="text-align: left">Vehicles owned or driven</li></ul><ul><li style="text-align: left">Hunting licenses</li></ul><ul><li style="text-align: left">Weapons permits</li></ul><ul><li style="text-align: left">Professional license</li></ul></td></tr></tbody></table><hr><p>Learn more on <a href="https://secure.money.com/pr/l57934edc90e">US Search’s Secure Website >></a></p><hr /><h3>FCRA-Compliant Background Screening Sites</h3><hr /><p class="p1"><a href="https://secure.money.com/pr/a38d8d54eb83?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=a38d8d54eb83&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Volume pricing for companies that perform over 300 checks a year</li><li>Candidates can use mobile phones to complete forms</li><li>A+grade with the Better Business Bureau</li></ul><h3>Cons</h3><ul><li>Some complaints of slow turnaround times</li><li>No customer service number</li></ul><hr><p><strong>Why we chose it:</strong> An FCRA-compliant service, Checkr offers small businesses pre-employment background check packages, doesn’t charge a setup fee and lets customers pay per search.</p><p>Checkr is well-suited for small businesses looking for a high-tech approach to employee screening. The company uses AI-powered technology in its searches, which it says can make any potentially adverse findings clearer and easier to categorize. It can also predict how long the check will take and filters information to comply with local laws.</p><p>Checkr’s technological approach is not only used internally. This provider offers a mobile portal where candidates can track their screening process and contact support.</p><p>Checkr’s standard screenings include SSN trace, sex offender registry, global watchlist records and national criminal records. Checkr’s plans and pricing are:</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col class="first-col" width="20%" /><col width="40%" /><col width="40%" /></colgroup><thead><tr><th colspan="3"><p><strong>Checkr Pricing</strong></p></th></tr></thead><thead><tr><th class="first-col">Tier</p></th><th><p style="text-align: left">Starting price</p></th><th><p style="text-align: left">Screenings</p></th></tr></thead><tbody><tr><th align="left" class="first-col">Basic+</th><td align="center"><p style="text-align: left">$29.99</p></td><td align="center"><p style="text-align: left"><em>Standard screenings</em></p></td></tr><tr><th align="left" class="first-col">Essential</th><td align="center"><p style="text-align: left">$54.99</p></td><td align="center"><p style="text-align: left">Unlimited county criminal search</p></td></tr><tr><th align="left" class="first-col">Professional</th><td align="center"><p style="text-align: left">$79.99</p></td><td align="center"><p style="text-align: left">Education verification</p><p style="text-align: left">Employment verification</p></td></tr></tbody></table><hr><p>Customers can also use the service to conduct global watchlist searches and international background checks, along with education and employment verification.</p><p>Court searches in certain jurisdictions and DMV records do incur additional fees, which vary by state. Checkr also offers several other individually priced checks as add-ons to its three plans.</p><p>In terms of third-party reviews, Checkr holds an A+ grade on the Better Business Bureau website. We evaluated customer reviews on the BBB site and found a pattern of complaints alleging slow turnaround times and difficulties contacting customer service, as Checkr doesn’t list a customer service number on its site.</p><p>Learn more on <a href="https://secure.money.com/pr/y97ee77d96f4">Checkr’s Secure Website >></a></p><hr /><p class="p1"><a href="https://secure.money.com/pr/p5890a27cc3f?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=p5890a27cc3f&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Credit reports from TransUnion</li><li>Pay per report; not subscription based</li></ul><h3>Cons</h3><ul><li>No add-ons available</li><li>Settled a lawsuit in 2023 filed by the FTC and CFPB for failing to ensure accuracy of reports</li><li>Criminal background checks not available for Alabama, Delaware, Hawaii, Idaho, Illinois (Cook County), Iowa, Maine, Maryland, Massachusetts, Michigan, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, North Dakota, Rhode Island, South Carolina, South Dakota, Vermont, Washington DC and Wyoming</li></ul><hr><p><strong>Why we chose it: </strong>We selected <a href="https://secure.money.com/pr/occ107a23885">TransUnion SmartMove</a> because it offers a fully online tenant screening service and allows customers to pay per check instead of subscribing to a service.</p><p>SmartMove by TransUnion offers an easy-to-use online platform where landlords can sign up, send requests and access reports. Likewise, potential tenants can use the platform to input their personal information and provide consent.</p><p>However, SmartMove doesn’t just stand out for its online experience. Its three screening tiers allows property owners or managers to select a search that meets their needs and fits their budget. Additionally, customers can choose to either pay for the check themselves or pass on the cost to tenants.</p><p>All three tiers include a criminal background check and TransUnion’s proprietary ResidentScore®. This score is based on a tenant’s payment history, inquiries and credit utilization, among other factors. (Note that SmartMove doesn’t specify how the score is calculated.) According to TransUnion, the ResidentScore helps them assess applicants with thin credit files and identifies factors that point to unfavorable rental outcomes such as evictions.</p><p>TransUnion SmartMove plans and pricing are:</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col class="first-col" width="20%" /><col width="40%" /><col width="40%" /></colgroup><thead><tr><th colspan="3"><p><strong>TransUnion SmartMove Pricing</strong></p></th></tr></thead><thead><tr><th class="first-col"><p>Tier</p></th><th><p><strong>Starting price</strong></p></th><th><p><strong>Screenings</strong></p></th></tr></thead><tbody><tr><th align="left" class="first-col"><p>SmartCheck Basic</p></th><td align="center"><p>$25</p></td><td align="center"><p>Standard screenings</p></td></tr><tr><th align="left" class="first-col"><p>SmartCheck Plus</p></th><td align="center"><p>$40</p></td><td align="center"><p> Credit Report</p><p>Eviction Related Report</p></td></tr><tr><th align="left" class="first-col"><p>SmartCheck Pro</p></th><td align="center"><p>$44</p></td><td align="center"><p>Income Insights Report</p></td></tr></tbody></table><hr><p>SmartMove touts its access to one of the largest eviction databases as the source for its eviction reports. Its Income Insights reports show an estimate of the applicant’s total income, which helps landlords verify what applicants reported and determine if they’ll need to conduct further income verification.</p><hr /><p class="p1"><a href="https://secure.money.com/pr/b3d33253c6d1?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=b3d33253c6d1&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Provides info from around the world</li><li>Executive background screening</li><li>Fingerprint background check available</li><li>A grade with the Better Business Bureau</li></ul><h3>Cons</h3><ul><li>Site does not include information on pricing</li><li>Difficult to contact customer support</li><li>Focuses only on pre-employment checks</li></ul><hr><p><strong>Why we chose it: </strong>First Advantage stands out for its international background checks that include ID verification, criminal records search and financial checks, among others.</p><p>First Advantage caters to employers — from small family-run businesses to global organizations — by offering screenings that include criminal background, licenses and credentials, driving records, social media accounts and more.</p><p>While some services limit their searches to U.S. records, First Advantage offers searches in 16 countries around the world, which could help companies expand their recruitment pools. Employers can also choose post-employment criminal record monitoring and receive an alert if a criminal or adverse motor vehicle record is found for one of its employees.</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col class="first-col" width="20%" /><col width="40%" /><col width="40%" /></colgroup><thead><tr><th colspan="3"><p><strong>First Advantage Pricing</strong></p></th></tr></thead><thead><tr><th class="first-col">Tier</p></th><th><p style="text-align: left">Starting price</p></th><th><p style="text-align: left">Screenings</p></th></tr></thead><tbody><tr><th align="left" class="first-col">Basic</th><td align="center"><p style="text-align: left">$29</p></td><td align="center"><p style="text-align: left">Standard screenings</p></td></tr><tr><th align="left" class="first-col">Standard</th><td align="center"><p style="text-align: left">$44</p></td><td align="center"><p style="text-align: left">Single county criminal search</p></td></tr><tr><th align="left" class="first-col">Choice</th><td align="center"><p style="text-align: left">$65</p></td><td align="center"><p style="text-align: left">- County Criminal (7 year)</p><p style="text-align: left">- Watch List</p></td></tr><tr><th align="left" class="first-col">Premium</th><td align="center"><p style="text-align: left">$75</p></td><td align="center"><p style="text-align: left">Driver's license</p></td></tr></tbody></table><hr><p>Some available add-ons:</p><ul><li>Driver’s License – $6.24</li><li>Education verification – $12.48</li><li>Employment verification – $15.60</li></ul><p>First Advantage also has service bundles that can simplify hiring since they include both screening and onboarding. All three tiers include identity, background and drug screening. The second and third tier in particular include the I-9 form check to confirm employee work eligibility.</p><p>The company has an A grade on the Better Business Bureau site; however, several customer reviews — including one from an employer — note slow turnaround times and poor experiences with customer service.</p><p>Learn more on <a href="https://secure.money.com/pr/d7c2e60b06c5">First Advantage’s Secure Website >></a></p><hr /><p class="p1"><a href="https://secure.money.com/pr/sc523699d899?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=sc523699d899&type=image" /></a></p><hr><h3>Pros</h3><ul><li>National and international financial background checks</li><li>Global locations and partners</li><li>Aviation industry screenings</li><li>Mobile app for candidates</li></ul><h3>Cons</h3><ul><li>Inconsistent turnaround times</li><li>Subjects have noted inaccuracies in background reports </li></ul><hr><p><strong>Why we chose it:</strong> HireRight made our list because of its screening packages, which are tailored to particular industries such as hospitality, insurance, technology and transportation, among others.</p><p>HireRight customers can choose screening solutions based on the size of their business be it small, mid-size or global. Searches include, among others:</p><ul><li>Criminal record searches</li><li>Identity verification services (to help determine candidates’ work eligibility)</li><li>Verification of candidate credentials, employment and education history</li><li>Civil litigation and media searches</li><li>Drug and health screening</li><li>Driving records checks</li><li>Post-employment monitoring</li></ul><p>HireRight’s services don’t stop at pre-hiring, as it also offers post-hiring services such as criminal records monitoring.</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col style="width:100%" /></colgroup><thead><tr><th colspan="1"><p><strong>HireRight Pricing</strong></p></th></tr></thead><thead><tr><th></th></tr></thead><tbody><tr><td><p>No pricing information on the website. For pricing, contact HireRight by filling out a form on its <a href="https://www.hireright.com/contact-us#form">contact page</a> or calling <a href="http://tel:8882345380.">888-234-5380</a>.</p></td></tr></tbody></table><hr><p>As each industry must comply with different requirements and regulations, HireRight has ready-made screening packages for 14 different industries; however, it also lets customers pick and choose among its services to create a package that fits their needs.</p><p>Although HireRight is not accredited by the Better Business Bureau, the company had an A+ grade when it was. (Note that companies must pay the BBB to become and stay accredited). Customer reviews on the BBB website show a pattern of inconsistent turnaround times and some job applicants shared that their background checks took too long, causing delays in their employment start dates.</p><p>Learn more on<a href="https://secure.money.com/pr/y25c09010a40"> HireRight’s Secure Website >></a></p><hr /><p class="p1"><a href="https://secure.money.com/pr/bcbe3af45bab?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=bcbe3af45bab&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Phone, live chat and email customer service available </li><li>Easy-to-read results, optimized for mobile</li><li>A+ rating from the Better Business Bureau</li></ul><h3>Cons</h3><ul><li>Extra charges for some searches</li><li>Charges a set-up fee not listed on its packages</li></ul><hr><p><strong>Why we chose it:</strong> GoodHire provides small businesses background screening packages with the option of paying for single screenings.</p><p>GoodHire, an FCRA-compliant background check service, offers in-depth searches into an individual’s background, gathering information on their credit, education, criminal proceedings and more. This company is a good option for small businesses given it allows clients to pay per screening if the client runs 10 checks or less a year.</p><p>Its basic checks include a Social Security number trace, sex offender registry search, global watchlist records check and national criminal records check for $29.99.</p><p>GoodHire customers can also add over 100 additional employment screening services, including healthcare sanction checks, professional reference checks, drug screenings and more.</p><p>GoodHire’s plans and pricing are:</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col style="width:33%" /></colgroup><thead><tr><th colspan="3"><p><strong>GoodHire Pricing</strong></p></th></tr></thead><thead><tr><th><p style="text-align: left">Tier</p></th><th><p style="text-align: left">Starting price</p></th><th><p style="text-align: left">Screenings</p></th></tr></thead><tbody><tr><td><p style="text-align: left">Basic+</p></td><td><p style="text-align: left">$29.99</p></td><td><p style="text-align: left"><em>Standard screenings</em></p></td></tr><tr><td><p style="text-align: left">Essential</p></td><td><p style="text-align: left">$54.99</p></td><td><ul><li style="text-align: left">Unlimited county criminal search</li></ul></td></tr><tr><td><p style="text-align: left">Professional</p></td><td><p style="text-align: left">$79.99</p></td><td><ul><li style="text-align: left">Education verification</li><li style="text-align: left">Employment verification</li></ul></td></tr></tbody></table><hr><p>Similar to other screening companies, GoodHire also offers industry packages that focus on the screening needs of the following industries:</p><ul><li>Construction</li><li>Healthcare</li><li>Non-profits</li><li>Retail</li><li>Staffing</li><li>Technology</li></ul><p>GoodHire has phone, live chat and email customer service available Monday through Friday from 8am to 8pm eastern time.</p><p>Learn more on <a href="https://secure.money.com/pr/a7c1dbf53f7c">GoodHire’s Secure Website >></a></p><hr /><p class="p1"><a href="https://secure.money.com/pr/r8f5d051a297?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-background-check-sites%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=r8f5d051a297&type=image" /></a></p><h3>Other background check sites we considered</h3><hr /><h4>PeopleLooker</h4><hr><h3>Pros</h3><ul><li>Easy to contact customer service</li><li>Offers data useful for sales, marketing and recruiting</li><li>Built to plug into platforms like Gmail, Hubspot and Salesforce</li></ul><h3>Cons</h3><ul><li>Coverage limited to people in the U.S.</li><li>Not a consumer reporting agency</li><li>Desktop version is less user-friendly than mobile app</li></ul><hr><p>This app-based service is able to conduct six types of checks, including people search, reverse phone lookup, and business-to-business information for sales teams.</p><p>PeopleLooker doesn’t currently provide pricing on its page. In the past, a one-month subscription cost $23.99 and three months were $57.57 with a limit of 100 searches per month.</p><p><strong>Why it didn’t make the cut:</strong> It offers similar search functions as other providers on the list and doesn’t provide pricing for those services.</p><p>Learn more on <a href="https://secure.money.com/pr/d80921111972">PeopleLooker’s Secure Website >></a></p><hr /><h4>PeopleFinders</h4><hr><h3>Pros</h3><ul><li>Updates data daily</li><li>Extended customer service hours</li></ul><h3>Cons</h3><ul><li>Searches limited to people in the U.S.</li><li>Not a consumer reporting agency</li></ul><hr><p>PeopleFinders provides searches based on public records for individuals and businesses. Memberships begin at $24.95 a month for reports that may include current and past contact info, reverse phone lookups, addresses, phone numbers, aliases, age, relatives and associates. If you’re looking for arrest records, criminal records, sex offender check or other legal information you must sign up for the $29.95 a month premium membership.</p><p><strong>Why it didn’t make the cut:</strong> PeopleFinders didn’t make the cut because it provides the same services as other providers, but at a higher price.</p><hr /><h2>Background Check Guide</h2><p>When a business, organization or individual wants information on someone before entering into a professional or personal relationship, background check services are an easy and convenient tool to get it. The following guide explains what a background check is, how it works and the types of information it can turn up.</p><h2>Table of Contents</h2><ul><li><a href="#What-is">What is a background check?</a></li><li><a href="#How-does">How does a background check work?</a></li><li><a href="#What-do">What do background checks show?</a></li><li><a href="#Types">Types of Background Check Searches</a></li><li><a href="#How-far">How far back does a background check go?</a></li><li><a href="#How-to">How to choose the best background check site</a></li><li><a href="#Why">Why are background checks important?</a></li><li><a href="#FAQ">Best Background Check Sites FAQs</a></li></ul><hr /><h3>What is a background check?</h3><p>A <a href="https://money.com/what-is-a-background-check/">background check</a> is an investigation into an individual or a company’s past. While they all have some similarities, not all background searches can be conducted in the same way.</p><p>For instance, searches on potential employees and <a href="https://money.com/how-to-run-a-background-check-on-a-tenant/">tenants</a> must comply with the <a href="https://money.com/what-is-the-fair-credit-reporting-act-fcra/">Fair Credit Reporting Act (FCRA)</a>, which requires background check services to get an individual’s signed consent before conducting searches.</p><p>On the other hand, people search background search sites — that is, sites for personal use meant for searches on friends, long-lost relatives or neighbors — don’t need to be FCRA-compliant. These sites show public information found in civil court or criminal records but not sensitive information such as credit reports or driving records.</p><p>To find out more about what a background check is and the different types of investigations available, make sure to read our article on <a href="https://money.com/what-is-a-background-check/">What is a background check</a>?</p><hr /><h3>How does a background check work?</h3><p>When a potential <a href="https://money.com/what-do-employers-look-for-in-a-background-check/">employer</a> or landlord wants to run a background check, they must follow the provisions of the FCRA. The same goes for people looking to hire domestic workers — including cleaning professionals and <a href="https://money.com/how-to-do-a-nanny-background-check/">nannies</a>.</p><p>Here’s how it works:</p><ul><li><strong>Step 1:</strong> The potential employer or landlord obtains the individual’s signed consent to conduct the search and a separate consent to obtain a credit report, when applicable, and sends them to a background screening company.</li></ul><ul><li><strong>Step 2:</strong> The background investigation company conducts court searches, and obtains the credit report, driving records and/or other information requested by the employer or landlord.</li></ul><ul><li><strong>Step 3:</strong> The employer or landlord receives the report, evaluates it and makes a decision.</li></ul><ul><li><strong>Step 4:</strong> If information included in the report is used to deny employment or housing, the potential employer or landlord must inform the applicant.</li></ul><ul><li><strong>Step 5:</strong> The applicant receives a copy of their background check report and the contact information of the company that conducted the searches. They will also receive a notice of adverse action if they were denied the job or property based on findings in the report.</li></ul><ul><li><strong>Step 6:</strong> The potential employer or landlord gives the applicant enough time (generally 30 days from receipt) to dispute incomplete or inaccurate information in their report.</li></ul><p>The right to dispute is particularly important given that errors or inaccurate reporting is a common customer complaint. For context, we spoke to Ariel Nelson, a staff attorney at the National Consumer Law Center, and she stressed that errors are a big issue in the industry.</p><p>“The matching practices that the companies use are inadequate, so you end up including other people’s records,” Nelson says. She also mentioned how companies include records that haven’t been updated or they report the same infraction several times.</p><hr /><h3>What do background checks show?</h3><p>What a report shows depends on the purpose of the search, the report requested and the source of the information. Searches conducted for the purpose of employment or tenancy are typically more comprehensive than so-called people searches (that is, searches on acquaintances, old friends or neighbors).</p><p>People searches can show publicly available information on a person, including:</p><ul><li>Birthdate</li><li>Relatives</li><li>Address history</li><li>Social media profiles</li><li>Criminal history (if available online)</li><li>Assets and property owned</li><li>Civil litigation</li><li>Tax liens</li><li>Some judgments</li><li>Bankruptcies</li></ul><p>The information provided by people search services is gleaned from public records; but while these records are technically public, accessing them is not always free. Additionally, the information can be difficult to find if you don’t know where to look.</p><p>For most people, the easiest way of getting this information is to have a background check service obtain it for them. Professional background check services can find these records by checking government databases in the locations where the subject of the investigation has lived.</p><p>But the most important factor in determining what a background check will show is the purpose of the investigation. As we stated above, there are major differences between tenancy or <a href="https://money.com/what-does-an-employment-background-check-show/">pre-employment background checks</a> and people searches.</p><hr /><h3>Types of Background Check Searches</h3><p>Background checks — whether it’s a people search or an FCRA-compliant check — involve different types of searches. These can include:</p><ul><li><strong>Identity verification </strong>– As the name suggests, this check helps verify someone’s identity by running a social security number trace that corroborates names, date of birth and address history. An <a href="https://money.com/what-is-identity-verification/">identity verification</a> can also involve confirming citizenship or eligibility for work.</li></ul><ul><li><strong>Criminal history records</strong> – Criminal background checks include searches of county and federal courts for felony and, sometimes, misdemeanor offenses. Background screeners may also check sex offender registries and global watchlists.</li></ul><ul>Note that states regulate the types of criminal records that can be reported and for how long.</ul><ul><li><strong>Employment and education verification</strong> – Employment checks typically involve calls to former employers confirming the candidate’s previous jobs and employment dates. Education checks confirm a candidate’s degree, the academic institution they attended, the dates of attendance and, in a few cases, GPA and honors the person earned.</li></ul><ul><li><strong>Driving records</strong> – A candidate’s MVR includes traffic violations, infractions, accidents, DUIs, whether the license is suspended or expired and the class of license it is (private passenger or commercial).</li></ul><ul><li><strong>Credit history</strong> – A consumer report, from at least one major credit bureau, shows payment history, level of debt, loans, bankruptcies, liens and/or collections, although not always the credit score.</li></ul><ul><li><strong>Civil litigation and judgments</strong> – Potential employers will usually also search court records for any civil lawsuits, legal disputes or judgments in which the candidate has been involved.</li></ul><ul><li><strong>Fingerprint background check</strong> – This level of check is not the norm, unless candidates need security clearance or will handle sensitive information in their day-to-day. This is a more in-depth criminal check given the fingerprints are cross-checked with those in the FBI’s Integrated Automated Fingerprint Identification System.</li></ul><ul><li><strong>Social media check</strong> – Social media searches look into an applicant’s profiles to determine whether they have any inappropriate content or behavior that could reflect poorly on the organization.</li></ul><hr /><h3>How far back does a background check go?</h3><p>The time period covered by background checks varies according to the type of check conducted. Also, the FCRA sets rules regarding how far back consumer reporting agencies can search.</p><p>Bankruptcy details are reported for 10 years and credit reports go back seven years. Searches for criminal records usually go back seven to ten years, although felonies can be reported indefinitely.</p><p>Driving records reports usually go back 10 years, although this may vary by state. Degree verifications and employment history checks, on the other hand, typically have no time limit.</p><hr /><h3>How to choose the best background check site</h3><p>Choosing the best background check site for you will depend on the purpose of your search.</p><p>If you want to learn more about a person in your life or <a href="https://money.com/how-to-do-a-background-check-on-yourself/">conduct a search on yourself</a>, you can use a non-FCRA-compliant background check company that offers people search and reverse phone, email or address lookup services.</p><p>However, if you’re an employer, you need a company that complies with the FCRA and can not only provide timely and accurate information but also meet all applicable state laws and regulations.</p><p>Make sure the company you’re considering:</p><ul><li>Complies with all applicable federal, state, and local laws and regulations, especially the Fair Credit Reporting Act (FCRA).</li></ul><ul><li>Follows best practices for privacy and security given they’ll be collecting and sharing sensitive information.</li></ul><ul><li>Uses reliable and up-to-date sources to provide accurate background checks.</li></ul><ul><li>Has quality control measures in place to ensure the accuracy of their reports.</li></ul><ul><li>Offers transparent and competitive pricing with a breakdown of their fees so that you can understand the costs involved.</li></ul><ul><li>Provides information quickly to avoid lost opportunities or increased risk to the organization.</li></ul><p>You should also search for the company on the Better Business Bureau website and consumer review sites. These sites are also useful for seeing examples of customer experiences, complaints and to learn how the company handled the situation.</p><hr /><h3>Why are background checks important?</h3><p>Background checks are essential for many organizations’ hiring process and business practices because due diligence can help them protect their company’s and employees’ interests alike.</p><p>Due diligence involves gathering all available information on a person to assess their financial and legal standing. The main reasons for conducting a background check include:</p><ul><li><strong>Litigation purposes:</strong> Background checks can be useful for finding out information about parties in a lawsuit or verifying financial claims.</li></ul><ul><li><strong>Risk management:</strong> Both financial institutions and individual investors can perform background checks on potential borrowers or business partners. These due diligence searches can be extensive and complex, and can include searches for assets, litigation and more.</li></ul><ul><li><strong>Personal relationships: </strong>You may want to perform a background check before becoming involved in a relationship, whether that relationship is business-related or personal. People also often use background check services to help find information on biological family members or long-lost friends.</li></ul><hr /><hr><h2>Best Background Check Sites FAQs</h2><h3>How much does a background check cost?</h3><p>The cost of a background check depends on the type. Many people search websites (i.e. not for pre-employment or tenant screening purposes) provide several different types at a range of price points. These services can run from around $20 up to $60 or more for a monthly subscription.</p><p>Prices for pre-employment checks, which cost anywhere from a few hundred dollars to thousands, are not usually available on company websites because they're based on your specific needs. The final price will depend on factors such as the scope of the check (is it local, national or international), the industry turnaround time and how many checks you want.</p><h3>How long does a background check take?</h3><p>As a general rule, background checks from an FCRA-compliant provider can take between one to three business days. However, the depth of the check can affect turnaround times. Many services can provide reports in minutes if they're a simple check, while others, such as FBI checks, can take up to 30 days.</p><h3>What does a background check show?</h3><p>This largely depends on the type of background check performed. A pre-employment background check can show a person's credit history, education, driving records along with public records, such as civil or criminal litigation, tax liens, judgments, bankruptcies and more.</p><p>Non-pre-employment background checks -- for example, checks that that can be performed on "people search" sites -- can show where the person has lived, any criminal records available online, sex offender registry listings, and sometimes tax liens or judgments. They could also include searches of the deep web.</p><hr><hr /><h2>How We Chose the Best Background Check Sites</h2><p>To pick the nine best background check services, we reviewed 16 background check companies based on over 100 data points grouped under the following categories:</p><ul><li><strong>Testing:</strong> We tested the people search services to assess the user experience and search results. We also evaluated the report’s format, accuracy and comprehensiveness of information. We couldn’t test pre-employment screening companies because these types of companies need a legally permissible purpose (for example, employment or tenancy) in order to conduct a search.</li></ul><ul><li><strong>FCRA compliance: </strong>We verified whether the companies were FCRA-compliant to determine which offered background check services for employers and which were people search services.</li></ul><ul><li><strong>Extensiveness of background checks:</strong> We analyzed what type of information each company accesses and includes in its reports. For pre-employment check services, we favored companies that offered industry packages.</li></ul><ul><li><strong>Additional searches and add-on services: </strong>We assessed add-ons like global watchlist searches and specialty services such as international searches, employment and education verification.</li></ul><ul><li><strong>Pricing:</strong> We compared prices for each service, including the tiers and the costs of available add-ons. We also checked whether a service charged per check or offered monthly subscriptions.</li></ul><ul><li><strong>Customer reviews:</strong> To see what customers had to say about each company’s reports, ease of use, turnaround and overall customer service, we researched and read customer service reviews on the Better Business Bureau (BBB) site.</li></ul><ul><li><strong>User interface: </strong>We evaluated each background check site’s user interface to determine if the sites are easy to navigate and provided key information useful to consumers.</li></ul><ul><li><strong>Legal actions:</strong> Many of the companies in this industry have been the subject of legal actions. We carefully evaluated lawsuits found during our searches and highlighted those that were particularly relevant to consumers or involved regulatory violations. Do note that this research is based on records found online, and not on an extensive review of court records.</li></ul><ul><li><strong>Interviews with experts: </strong>We spoke with several industry experts, including a former investigator, a consumer law attorney and a human resources professional who regularly uses background check services for the purposes of hiring.</li></ul><h2>Summary of the Best Background Check Sites of May 2024</h2><h4>People Search Background Check Sites</h4><ul><li><a href="#instant">Instant Checkmate</a> – Best for Unlimited Reports</li><li><a href="#truth">TruthFinder</a> – Best for Comprehensive People Searches</li><li><a href="#been">BeenVerified</a> – Best for Vehicle Searches</li><li><a href="#spokeo">Spokeo</a> – Best for Budget Searches</li><li><a href="#intelius">Intelius</a> – Best for Trial Periods</li><li><a href="#us">US Search</a> – Best for Affordable Unlimited Reports</li></ul><h4>FCRA-Compliant Background Screening Sites</h4><ul><li><a href="#checkr">Checkr</a> – Best for Pre-employment Screenings</li><li><a href="#TransUnion">TransUnion SmartMove</a> – Best for Tenant Screenings</li><li><a href="#first">First Advantage</a> – Best for International Background Checks</li><li><a href="#hireright">HireRight</a> – Best for Custom Industry Packages</li><li><a href="#GoodHire">GoodHire</a> – Best for Small Businesses</li></ul>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5940741</post-id> <media:thumbnail url="https://img.money.com/2022/11/Best-2022-Background-Check-Site.jpg?quality=85" /> <media:content url="https://img.money.com/2022/11/Best-2022-Background-Check-Site.jpg?quality=85" medium="image"> <media:title type="html">Best-2022-Background-Check-Site</media:title> </media:content> </item> <item> <title>Why Investors Can Ignore the Fed’s Interest Rate Decision This Week</title> <link>https://money.com/investors-feds-interest-rate-decisions/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Tue, 30 Apr 2024 17:43:29 +0000</pubDate> <category><![CDATA[News]]></category> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5940739</guid> <description><![CDATA[Regardless of the outcome of this week's Federal Reserve meeting, investors should stay put.]]></description> <content:encoded><![CDATA[<p>The Federal Reserve’s third Federal Open Market Committee (FOMC) meeting of 2024 is underway. During the meetings, the central bank strategizes its monetary policy, which routinely sends the markets into a frenzy over interest rate speculation.</p><p>Expectations for this meeting, which will account for both the April and May FOMC gatherings, are not particularly high thanks in part to lingering inflation. But, if there’s one thing investors should keep in mind ahead of any Fed announcement, it’s that it is perfectly okay to ignore whatever is said.</p><p>With each meeting, investors find themselves on the edges of their seats thanks to the interest rate-hiking campaign the Fed launched over two years ago in its attempt to quell unbridled consumer prices. Raising interest rates to the highest level in nearly two decades made it more expensive for banks to borrow money, beginning a chain reaction of events at the end of which the American consumer was more incentivized to save their money rather than spend it, thus helping to slow down the economy and lower inflation.</p><p class="p1"><a href="https://secure.money.com/pr/cb3c129dcc04?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Finvestors-feds-interest-rate-decisions%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Finvestors-feds-interest-rate-decisions%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=cb3c129dcc04&type=image" /></a></p><p>Now two years removed from the Fed’s first interest rate hike, the economy is doing pretty well. The Consumer Price Index (CPI) has fallen to around 3.5%, a vast improvement from the 9.1% high the CPI reached in June 2022. Yet despite its efforts, the Fed has struggled to achieve its target rate of 2% as the costs of many goods and services remain elevated. Lowering the CPI to 3.5% is a significant improvement nonetheless, with many Americans now looking forward to the possibility of the <a href="https://money.com/fed-interest-rate-cuts-predictions-2024/">Fed cutting rates</a>.</p><p>Among other things, lowering interest rates will allow consumers easier access to credit and will result in lower <a href="https://money.com/current-mortgage-rates/">mortgage rates</a>, which could kickstart the limping real estate market, which is feeling the pain of the highest 30-year mortgage rates since 2007’s subprime lending crisis.</p><p>However, Fed officials have remained vague on when it’s going to make its next move. Last year, it seemed as though the first cut would come before the year was through. But, in the last handful of meetings, the central bank has not adjusted its policy, leading some pundits to postulate that any rate cuts may not occur until the fourth quarter of 2024.</p><h2>What does the Fed policy meeting mean for investors?</h2><p>There are three possible outcomes for this week’s meeting: The Fed will announce a plan for its first interest rate cut, announce an additional rate hike before it pivots to cuts or the central bank’s representatives will hold its current policy and play the “higher for longer” card. The scenario most are expecting is the third, with the Fed punting any decisions on rates until the June meeting. And while this week’s likely indecision might cause short-term volatility on Wall Street, investors would probably do best to pay it no mind.</p><p>The last two FOMC meetings have seen short-term fluctuations for stocks; after the Fed held rates in January, markets closed lower. When it held rates in March, markets closed higher. But whatever they may do in April and May, it’s worth reiterating that short-term volatility shouldn’t influence investing decisions — hence the persistence of the old adage, time in the market beats timing the market.</p><p>Jason Heller, executive vice president of financial services company Coastal Wealth, says that despite the importance of interest rates for the market, the company advises against “significant portfolio changes based on what the Federal Reserve does or doesn’t do over the short-term.” Heller adds that “the stock market has remained resilient even with high interest rates.”</p><p>Heller’s advice against short-term trades speaks to a general rule of thumb that long-term investors tend to see better gains than short-term traders who try to get ahead of the market. By and large, portfolios that hold value stocks for long periods of time see less risk and perform better than portfolios that try to time and beat the market with short-term trades.</p><p>Indeed, the stock market thrived in the first quarter of 2024 even as rates remained elevated and will for the foreseeable future. So far this year, the <a href="https://money.com/what-is-the-sp-500-index/">S&P 500</a> has increased 7.6% and the Nasdaq Composite is up 7.9% despite investors being disappointed twice after FOMC meetings failed to provide any clarity about when the Fed will adjust its interest rate policy.</p><p>So, while you may see some rockiness or even a quick boost to the market after the final decision this week, there’s no reason to hit the panic button and make moves to your portfolio that distract from your long-term financial goals.</p><p class="p1"><a href="https://secure.money.com/pr/u918d32af718?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Finvestors-feds-interest-rate-decisions%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Finvestors-feds-interest-rate-decisions%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=u918d32af718&type=image" /></a></p><h2>More from Money:</h2><p><a href="https://money.com/alphabet-stock-google-start-paying-dividends/">Alphabet, Now a $2 Trillion Company, Will Start Paying Dividends to Shareholders</a></p><p><a href="https://money.com/selling-stock-to-combat-inflation/">With Inflation Lingering, Is It a Good Idea to Sell Your Stock?</a></p><p><a href="https://money.com/reddit-trump-stock-ipos-lessons-investors/">Are IPOs Good Investments? What to Learn From Reddit and Trump Stock Flops</a></p><p class="p1"><a href="https://secure.money.com/pr/t39f99e0e0ab?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Finvestors-feds-interest-rate-decisions%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Finvestors-feds-interest-rate-decisions%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=t39f99e0e0ab&type=image" /></a></p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5940739</post-id> <media:thumbnail url="https://img.money.com/2024/04/Investing-FED-Interest-Rates.jpg?quality=85" /> <media:content url="https://img.money.com/2024/04/Investing-FED-Interest-Rates.jpg?quality=85" medium="image"> <media:title type="html">Investing-FED-Interest-Rates</media:title> </media:content> </item> <item> <title>‘Income Dream Come True’: Savers Have Several Risk-Free Ways to Beat Inflation</title> <link>https://money.com/savings-account-cd-apy-beat-inflation/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Tue, 30 Apr 2024 17:31:56 +0000</pubDate> <category><![CDATA[News]]></category> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5940653</guid> <description><![CDATA[Are you taking advantage?]]></description> <content:encoded><![CDATA[<p>Beating inflation may not be as hard as you think. Many savings products and fixed-income investments are offering positive real yields — meaning that their <a href="https://money.com/what-is-an-annual-percentage-yield-apy/">annual percentage yield (APY)</a> is higher than the rate of inflation. This is actually a fairly rare occurrence in the grand scheme, allowing savers to beat inflation with a risk-free investment.</p><p>Even though <a href="https://money.com/banks-decrease-savings-apy/">rates on some savings products</a> have dipped slightly since the end of last year, safe investments are highly attractive right now because real yields are still very strong, experts say.</p><p><span style="font-weight: 400">The U.S. aggregate bond index, a compilation of high-quality investment grade bonds, is yielding 5.28%, and t</span>he highest 12-month <a href="https://money.com/best-cd-rates/">certificate of deposit (CD)</a> annual percentage yields (APYs) are just a hair lower at 5.25%. Those yields are much stronger than the annual inflation rate of 3.5%, according to the <a href="https://money.com/inflation-march-2024/">latest consumer price index (CPI) reading</a>.</p><p>“It’s the first time in a long time that investors have been able to earn risk-free income above that forecasted inflation,” says Matthew Miskin, co-chief investment strategist at John Hancock Investment Management in Boston. “This is a retirement income dream come true.”</p><p class="p1"><a href="https://secure.money.com/pr/b6d40efa5682?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fsavings-account-cd-apy-beat-inflation%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fsavings-account-cd-apy-beat-inflation%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=b6d40efa5682&type=image" /></a></p><h2>Savings products offer high real yields in 2024</h2><p>Real yields are a better indicator of the value of a savings product compared to the unadjusted APY.</p><p>If inflation is higher than the advertised yield, you’re not actually getting ahead. When the U.S. inflation rate peaked in June 2022 at 9.1% per the CPI, the highest APYs were hardly cracking 4%. But rates on savings products kept climbing through late 2023 as inflation cooled, which caused real yields to improve.</p><p>In the current landscape, you can gain purchasing power with CDs, <a href="https://money.com/best-high-yield-savings-accounts/">high-yield savings accounts</a>, <a href="https://money.com/best-money-market-accounts/">money market accounts</a>, <a href="https://money.com/what-is-a-bond/">bonds</a> and <a href="https://money.com/how-to-buy-treasury-bills/">Treasury Bills</a>.</p><p>Miskin cautions that savings account rates are subject to change. He advocates for locking in fixed rates over variable ones to secure long-term returns.</p><p>“<span style="font-weight: 400">Longer-term interest rates, if it’s a longer-term CD or a bond, those are ways to lock in these rates and in our view, they’re going to provide real returns,” Miskin says.</span></p><p class="p1"><a href="https://secure.money.com/pr/laa05c687bed?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fsavings-account-cd-apy-beat-inflation%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fsavings-account-cd-apy-beat-inflation%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=laa05c687bed&type=image" /></a></p><h2>High-yield savings accounts vs. stocks</h2><p>Bruce Primeau, financial planning consultant at Avantax, says higher APYs make it easier for savers to preserve their capital.</p><p>For high-yield savings accounts, he advises looking at the the offerings of credit unions and <a href="https://money.com/best-online-bank/">online banks</a> to find the best rates.</p><p>He notes that some of the highest APY offers from credit unions have restrictive eligibility requirements to become a member and qualify, but you won’t have trouble finding one yielding above 4%.</p><p>When there are positive real yields on savings products like there are now, Primeau recommends shifting to a higher split of safe investments compared to stocks — though each person’s circumstances are different.</p><h2>Interest income and taxes</h2><p>Taylor Kovar, a certified financial planner in Lufkin, Texas, notes that federal and state taxes chip away at how much a CD or a savings account actually produces for investors. In his view, this should be a factor in how you think of the real yield.</p><p>Savings interest is taxed based on the year when it’s generated, whereas long-term stock investments are taxed only via capital gains after they’re sold.</p><p>“Let’s say you buy a CD that says it yields 5%, but if you’re in a 35% combined tax bracket you’re really only keeping two-thirds of that,” Kovar says. “It may sound good or really attractive at 5%, but if you’re only getting 3.3% after you pay all the taxes on it, it may not look as attractive because that’s maybe barely ahead of inflation.”</p><p>While savings yields are better than they’ve been in the past, the risk that comes with <a href="https://money.com/how-to-buy-stocks/">investing in stocks</a>, in most situations, is still worth the likelihood of higher returns in the long run, he argues.</p><p>“I think people get enamored by the 4% or 5% rate,” Kovar says. “Stocks, although I know they’re much more volatile than CDs or savings accounts, you can bet on a 9% or 10% return if you were invested in a 100% stock portfolio.”</p><p class="p1"><a href="https://secure.money.com/pr/o9f7bc34808d?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fsavings-account-cd-apy-beat-inflation%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fsavings-account-cd-apy-beat-inflation%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=o9f7bc34808d&type=image" /></a></p><h2>More from Money:</h2><p><a href="https://money.com/best-high-yield-savings-accounts/">11 Best High-Yield Savings Accounts of 2024</a></p><p><a href="https://money.com/inflation-easier-to-pay-off-debt/">The Surprising Way Inflation Can Be Good for People With Debt</a></p><p><a href="https://money.com/keep-401k-after-retiring-ira/">Why Keeping Your 401(k) After Retiring Could Be a Smart Savings Decision</a></p><p class="p1"><a href="https://secure.money.com/pr/s46e80315d91?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fsavings-account-cd-apy-beat-inflation%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fsavings-account-cd-apy-beat-inflation%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=s46e80315d91&type=image" /></a></p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5940653</post-id> <media:thumbnail url="https://img.money.com/2024/04/News-CDs-Savings-Yields.jpg?quality=85" /> <media:content url="https://img.money.com/2024/04/News-CDs-Savings-Yields.jpg?quality=85" medium="image"> <media:title type="html">News-CDs-Savings-Yields</media:title> </media:content> </item> <item> <title>Chase Sapphire Reserve® Review 2024</title> <link>https://money.com/chase-sapphire-reserve-credit-card-review/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Tue, 30 Apr 2024 12:53:09 +0000</pubDate> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5940114</guid> <description><![CDATA[Money reviews the Chase Sapphire Reserve® credit card.]]></description> <content:encoded><![CDATA[<hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col width="40%" /><col width="40%" /></colgroup><thead><tr><th><h1 style="text-align: left"><a class="sh-quidget-markup" data-content="{*credit_card_id*:*4048084*,*field*:*LinkTagPDPUrl*,*api*:*cc*,*linkText*:*Chase Sapphire Reserve(R)*,*linkTarget*:*_blank*,*linkRel*:*sponsored*}" data-rate-name="Chase Sapphire Reserve(R)">Chase Sapphire Reserve(R)</a></h1></th><th></th></tr></thead><tbody><tr><td align="center"><div class="blockimage-container" style="text-align: left"><div class="blockimage" style="max-width: 1448px"><figure style="padding-top: 66.64%"><img alt="" src="https://img.money.com/2024/04/Chase-Sapphire-Reserve1.png"></figure><div class="figcaption" style="text-align: left">Courtesy of Chase</div></div></div><p> </p></td><td align="center"><p style="text-align: left"><strong>Best for:</strong> Frequent travelers, foodies</p><p style="text-align: left"><strong>Why we like it:</strong> The Chase Sapphire Reserve(R) packs all of the luxury benefits premium cards are known for, but for a lower annual fee than some competitors.</p><p style="text-align: left"><strong>Welcome offer:</strong> <span class="sh-quidget-markup" data-content="{*credit_card_id*:*4048084*,*field*:*bonus_miles_full*,*api*:*cc*}" data-rate-name="Chase Sapphire Reserve(R)">bonus_miles_full</span></p><p style="text-align: left"><strong>Annual fee:</strong> <span class="sh-quidget-markup" data-content="{*credit_card_id*:*4048084*,*field*:*annual_fees*,*api*:*cc*}" data-rate-name="Chase Sapphire Reserve(R)">annual_fees</span></p><p style="text-align: left"><strong>Intro APR:</strong> <span class="sh-quidget-markup" data-content="{*credit_card_id*:*4048084*,*field*:*intro_apr_rate,intro_apr_duration*,*api*:*cc*}" data-rate-name="Chase Sapphire Reserve(R)">intro_apr_rate,intro_apr_duration</span></p></td></tr></tbody></table><hr><p>The Chase Sapphire Reserve® is a premium credit card and a favorite of frequent travelers, despite its hefty $550 annual fee. Cardholders can earn points in a large variety of bonus categories, receive hundreds of dollars in statement credits, enjoy complimentary memberships and get a ton of insurance coverage on their purchases and travels.</p><ul><li><a href="#pc">Pros and cons</a></li><li><a href="#overview">Overview</a></li><li><a href="#rewards">Rewards</a></li><li><a href="#benefits">Benefits</a></li><li><a href="#rates">Interest rates and fees</a></li><li><a href="#faqs">FAQs</a></li><li><a href="#eval">How we evaluated the Chase Sapphire Reserve®</a></li><li><a href="#summary">Summary of Money’s Chase Sapphire Reserve® review</a></li></ul><p class="p1"><a href="https://secure.money.com/pr/ffa2fd22eb5b?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fchase-sapphire-reserve-credit-card-review%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fchase-sapphire-reserve-credit-card-review%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=ffa2fd22eb5b&type=image" /></a></p><h2>Chase Sapphire Reserve® Pros and Cons</h2><hr><h3>Pros</h3><ul><li>10x points on hotel and rental cars, and 5x on flights, when booked through Chase TravelSM</li><li>1.5x redemption rate when using points for travel through Chase TravelSM</li><li>Global Entry, TSA PreCheck(R) or NEXUS statement credit</li><li>One of the longest lists of insurance policies among all credit cards</li></ul><h3>Cons</h3><ul><li>High $550 annual fee</li><li>No cell phone protection plan</li></ul><hr><h2>Chase Sapphire Reserve® Overview</h2><p>The <a class="sh-quidget-markup" data-rate-name="Chase Sapphire Reserve(R)" data-content="{*credit_card_id*:*4048084*,*field*:*LinkTagPDPUrl*,*api*:*cc*,*linkText*:*Chase Sapphire Reserve®*,*linkTarget*:*_blank*,*linkRel*:*sponsored*}">Chase Sapphire Reserve®</a> stands out among luxury credit cards because it offers high rewards on travel categories, as well as valuable statement credits and perks. Its $550 annual fee isn’t cheap but is still lower than some of its main competitors, some of which charge $600+.</p><p>It’s an especially good card when it comes to travel. Cardholders can earn 10x points on hotels and rental cars, as well as 5x points on flights, when purchasing through Chase Travel℠. It also offers primary rental car insurance, statement credits for TSA PreCheck® or Global Entry and access to airport lounges through Priority Pass™ Select, among other premium benefits</p><p>While its redemption rate is already high, redeeming for travel through Chase Travel℠ makes points worth 1.5x times more, meaning 10,000 points are worth $150 instead of $100.</p><p>Foodies would also benefit greatly from this card, as it offers 3x points on dining and 10x points when making Chase Dining purchases and reservations through Chase Ultimate Rewards®. There’s also the Reserved by Sapphire℠ program, which grants VIP access to exclusive restaurants and entertainment events.</p><p>All in all, the Chase Sapphire Reserve® is one of the best luxury credit cards in the market, and with a competitive annual fee.</p><h2>Chase Sapphire Reserve® Rewards</h2><h3>Earning points</h3><p>You can earn points with the Chase Sapphire Reserve® by using it anywhere VISA is accepted. However, you can get far more points when using it for purchases in the bonus categories, especially through the Chase Ultimate Rewards® and Chase Travel℠ portals:</p><ul><li>10x points on Chase Dining through Chase Ultimate Rewards®</li></ul><ul><li>10x on Lyft rides until March 2025</li></ul><ul><li>10x on Peloton equipment and accessory purchases above $150 until March 31, 2025, with a maximum of 50,000 points earned</li></ul><ul><li>10x points on hotels and rental cars when purchasing through Chase Travel℠ (after the first $300 spent, which accumulates toward the annual travel credit)</li></ul><ul><li>5x points on flights booked through Chase Travel℠ (after the first $300 spent, which accumulates toward the annual travel credit)</li></ul><ul><li>3x points on travel worldwide (after the first $300 spent, which accumulates for the annual travel credit)</li></ul><ul><li>3x points on dining, including delivery and takeout</li></ul><ul><li>1x point on other eligible purchases</li></ul><h3>Redeeming points</h3><p>Chase allows you to redeem your points in different ways. You can turn your points into cash deposited directly to your bank account or statement credits applied to your balance. You can redeem points as gift cards or direct purchases with select retailers and services such as Amazon or PayPal.</p><p>Points are worth one cent when redeemed as statement credits or gift cards. However, when redeemed for travel, points are worth 50% more, meaning each point is worth 1.5 cents. For example, you can purchase a $600 airplane ticket through Chase Travel℠ by redeeming only 40,000 points (which have a $400 cash value).</p><p>You can also transfer points to any of Chase’s 14 transfer partners at a 1:1 ratio. These include:</p><p>Airlines</p><ul><li>Aer Lingus, AerClub</li><li>Air Canada Aeroplan</li><li>British Airways Executive Club</li><li>Emirates Skywards®</li><li>Flying Blue AIR FRANCE KLM</li><li>Iberia Plus</li><li>JetBlue TrueBlue</li><li>Singapore Airlines KrisFlyer</li><li>Southwest Airlines Rapid Rewards®</li><li>United MileagePlus®</li><li>Virgin Atlantic Flying Club</li></ul><p>Hotels</p><ul><li>IHG® Rewards Club</li><li>Marriott Bonvoy®</li><li>World of Hyatt®</li></ul><p>Keep in mind that when you transfer points or redeem them outside of Chase’s platform, they could be worth less, depending on the partner and their current offers.</p><h2>Chase Sapphire Reserve® benefits</h2><h3>Insurance and protection</h3><p><strong>Trip cancellation/interruption insurance.</strong> If a trip is canceled or interrupted due to inclement weather, illness or other covered situations, cardholders can get reimbursed up to $10,000 per person and $20,000 per trip for pre-paid travel expenses, such as flight tickets, hotels and guided tours.</p><p><strong>Auto rental collision damage waiver.</strong> The auto rental collision damage waiver applies to rental cars whose full booking amount is charged to the card (or booked with points through Chase Travel℠). It acts as primary insurance, which means that the card covers the damages, not just what the cardholder’s primary insurance doesn’t. It can reimburse up to $75,000 for theft, damage, loss of use, towing and more. Note that the cardholder must be the primary driver in the rental agreement and must decline the rental company’s own collision damage waiver for Chase’s coverage to be valid.</p><p><strong>Lost luggage reimbursement.</strong> Up to $3,000 in coverage if luggage belonging to the cardholder or a family member (under the same booking made with the Chase Sapphire Reserve®) is lost or damaged by the carrier.</p><p><strong>Trip delay reimbursement.</strong> The cardholder and family can be reimbursed up to $500 per ticket if the trip is delayed six hours or more.</p><p><strong>Emergency evacuation and transportation.</strong> Up to $100,000 in coverage if there’s a need for medical evacuation during a covered trip. This includes the cardholder, spouse and any children under 19, or under 26 if they’re full-time students.</p><p><strong>Purchase protection.</strong> This covers theft, damage or loss on purchases made with the Chase Sapphire Reserve® for 120 days from the date of purchase. Reimbursements can be up to $10,000 per claim and $50,000 per year.</p><p><strong>Return protection.</strong> If a retailer doesn’t accept a return, cardholders have up to 90 days to request a reimbursement of up to $500 per eligible item with a maximum of $1,000 per year.</p><p><strong>Extended warranty.</strong> This adds one year of warranty coverage to items with eligible manufacturer warranties of three years or less. There’s a maximum of $10,000 per claim and $50,000 a year, though it’s limited to the item’s original price.</p><h3>Statement credits</h3><p><strong>Annual travel credit.</strong> Cardholders can get a statement credit of up to $300 for purchases in the travel category during an anniversary year. This includes airfare, hotels, rental cars, train tickets and more.</p><p><strong>Global Entry, TSA PreCheck® or NEXUS credit.</strong> Chase Sapphire Reserve® cardholders can receive a statement credit of up to $100 every four years if they pay for Global Entry, TSA PreCheck® or NEXUS with their card.</p><p><strong>Instacart+ statement credits.</strong> Up to $15 each calendar month in statement credits after making eligible Instacart purchases while the Instacart+ membership is activated. (Cardholders must activate the complimentary Instacart+ membership before July 2024.)</p><h3>Other benefits</h3><p><strong>Lyft Pink All Access.</strong> Cardholders get a 2-year complimentary membership to Lyft Pink All Access when activating before December 31, 2024. After those first two years, cardholders get an additional year at 50% off. Lyft Pink All Access includes benefits such as free Priority Pickup, discounts on e-bike and scooter rides, waived cancellation fees and more.</p><p><strong>DashPass/Caviar membership and credits.</strong> The Chase Sapphire Reserve® includes a complimentary year-long DashPass subscription for DoorDash and Caviar (a similar app for higher-end restaurants) if activated before December 2024. The membership includes $0 delivery fees on orders of $12 or more, as well as exclusive offers.</p><p><strong>Instacart+ subscription.</strong> When activated before July 2024, cardholders get a 12-month complimentary membership to Instacart+. This premium membership includes free delivery on orders of $35 or more, 5% back in Instacart credits and more.</p><p><strong>Airport lounge access with Priority Pass™ Select.</strong> Cardholders can activate a Priority Pass™ Select membership to access more than 1,300 airport lounges all around the world.</p><p><a href="https://secure.money.com/pr/uda4b79d09b5?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fchase-sapphire-reserve-credit-card-review%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fchase-sapphire-reserve-credit-card-review%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=uda4b79d09b5&type=image" /></a></p><h2>Chase Sapphire Reserve® interest rates and fees</h2><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col width="40%" /><col width="40%" /></colgroup><thead><tr><th><p style="text-align: left">Interest Rates</p></th><th><p style="text-align: left">Fees</p></th></tr></thead><tbody><tr><td align="center"><p style="text-align: left"><strong>Regular APR:</strong> <span class="sh-quidget-markup" data-content="{*credit_card_id*:*4048084*,*field*:*reg_apr,reg_apr_type*,*api*:*cc*,*case*:*l*}" data-rate-name="Chase Sapphire Reserve(R)">reg_apr,reg_apr_type</span> Introductory</p><p style="text-align: left"><strong>APR:</strong> <span class="sh-quidget-markup" data-content="{*credit_card_id*:*4048084*,*field*:*intro_apr_rate,intro_apr_duration*,*api*:*cc*}" data-rate-name="Chase Sapphire Reserve(R)">intro_apr_rate,intro_apr_duration</span></p><p style="text-align: left"><strong>Balance transfer APR:</strong> <span class="sh-quidget-markup" data-content="{*credit_card_id*:*4048084*,*field*:*balance_transfer_rate*,*api*:*cc*}" data-rate-name="Chase Sapphire Reserve(R)">balance_transfer_rate</span></p><p style="text-align: left"><strong>Balance transfer intro APR:</strong> <span class="sh-quidget-markup" data-content="{*credit_card_id*:*4048084*,*field*:*balance_transfer_intro_apr,balance_transfer_intro_duration*,*api*:*cc*}" data-rate-name="Chase Sapphire Reserve(R)">balance_transfer_intro_apr,balance_transfer_intro_duration</span></p><p style="text-align: left"><strong>Cash advance APR:</strong> <span class="sh-quidget-markup" data-content="{*credit_card_id*:*4048084*,*field*:*cash_advance_apr*,*api*:*cc*,*case*:*l*}" data-rate-name="Chase Sapphire Reserve(R)">cash_advance_apr</span></p></td><td align="center"><p style="text-align: left"><strong>Annual fee:</strong> <span class="sh-quidget-markup" data-content="{*credit_card_id*:*4048084*,*field*:*annual_fees*,*api*:*cc*}" data-rate-name="Chase Sapphire Reserve(R)">annual_fees</span></p><p style="text-align: left"><strong>Foreign transaction fee:</strong> <span class="sh-quidget-markup" data-content="{*credit_card_id*:*4048084*,*field*:*foreign_transaction_fee*,*api*:*cc*}" data-rate-name="Chase Sapphire Reserve(R)">foreign_transaction_fee</span></p><p style="text-align: left"><strong>Balance transfer fee:</strong> <span class="sh-quidget-markup" data-content="{*credit_card_id*:*4048084*,*field*:*balance_transfer_fees*,*api*:*cc*}" data-rate-name="Chase Sapphire Reserve(R)">balance_transfer_fees</span></p><p style="text-align: left"><strong>Cash advance fee:</strong> <span class="sh-quidget-markup" data-content="{*credit_card_id*:*4048084*,*field*:*cash_advance_fee*,*api*:*cc*}" data-rate-name="Chase Sapphire Reserve(R)">cash_advance_fee</span></p></td></tr></tbody></table><hr><hr><h2>Chase Sapphire Reserve(R) FAQs</h2><h3>How do I activate Priority Pass(TM) Select with the Chase Sapphire Reserve(R)?</h3><p>In order to activate your included Priority Pass(TM) Select membership, log into the Chase Ultimate Rewards(R) portal and look for the "Card Benefits" section, then go to "Travel" and select the button labeled "Complimentary Airport Lounge Access."</p><h3>How do I upgrade from the Chase Sapphire Preferred(R) Card to the Chase Sapphire Reserve(R)?</h3><p>In order to upgrade your credit card, you'll need to contact Chase and request it directly, either via phone call or their online messaging service. Keep in mind, however, that requesting an upgrade is similar to applying for a new credit card, and is subject to eligibility. </p><h3>What credit score do you need for a Chase Sapphire Reserve(R)?</h3><p>According to Chase, applicants need an <span class="sh-quidget-markup" data-rate-name="Chase Sapphire Reserve(R)" data-content="{*credit_card_id*:*4048084*,*field*:*credit_score_needed*,*api*:*cc*,*case*:*l*}">credit_score_needed</span> credit score in order to qualify for the Chase Sapphire Reserve(R). Keep in mind, however, that other factors are also considered, such as income and current revolving debt. </p><hr><h2>How we evaluated the Chase Sapphire Reserve®</h2><p>In order to review the Chase Sapphire Reserve®, we took into account the following factors:</p><ul><li><strong>Annual fee.</strong> We analyzed whether the card’s perks, statement credits and rewards made up for its high annual fee.</li></ul><ul><li><strong>Rewards.</strong> We evaluated the rewards offered, based on the usefulness and array of the categories in which they’re offered.</li></ul><ul><li><strong>Insurance.</strong> While rewards are great to have, insurance coverage is an important feature. We look at the different insurance policies offered as well as the levels of coverage.</li></ul><ul><li><strong>Additional benefits.</strong> We carefully analyzed the card’s benefits such as statement credits, complimentary memberships, lounge access and more.</li></ul><ul><li><strong>Other fees.</strong> Relevant fees are taken into account, with the main ones being the foreign transaction fee, balance transfer fee and late fees, depending on the nature of the card.</li></ul><h2>Summary of Money’s Chase Sapphire Reserve® review</h2><p>The <a class="sh-quidget-markup" data-rate-name="Chase Sapphire Reserve(R)" data-content="{*credit_card_id*:*4048084*,*field*:*LinkTagPDPUrl*,*api*:*cc*,*linkText*:*Chase Sapphire Reserve®*,*linkTarget*:*_blank*,*linkRel*:*sponsored*}">Chase Sapphire Reserve®</a> is a high-end credit card that provides competitive travel benefits and an easy redemption process for flights, rental cars and hotels. It also offers high rewards on dining, a long list of insurance coverage options (including primary rental car insurance) and travel statement credits. All of this makes it one of the top travel credit cards in the market, with an annual fee that’s actually lower than some of its direct premium competitors.</p><p class="p1"><a href="https://secure.money.com/pr/sc3ba8a1c51c?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fchase-sapphire-reserve-credit-card-review%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fchase-sapphire-reserve-credit-card-review%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=sc3ba8a1c51c&type=image" /></a></p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5940114</post-id> <media:thumbnail url="https://img.money.com/2024/04/Best-Credit-Cards-Chase-Sapphire-Reserve.jpg?quality=85" /> <media:content url="https://img.money.com/2024/04/Best-Credit-Cards-Chase-Sapphire-Reserve.jpg?quality=85" medium="image"> <media:title type="html">Best-Credit-Cards-Chase-Sapphire-Reserve</media:title> </media:content> </item> <item> <title>5 Best Debt Relief Companies of May 2024</title> <link>https://money.com/best-debt-relief-companies/?xid=moneyrss</link> <dc:creator><![CDATA[ and ]]></dc:creator> <pubDate>Mon, 29 Apr 2024 20:57:04 +0000</pubDate> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5940727</guid> <description><![CDATA[Read on for our review of debt relief companies and learn which of these providers is the best option for you.]]></description> <content:encoded><![CDATA[<hr /><h3>Money’s main takeaways</h3><ul><li>We recommend debt relief only when other, more favorable options are not viable. Debt consolidation loans and credit counseling make better financial sense for borrowers.</li></ul><ul><li>Debt relief companies require you to stop paying creditors in order to increase their negotiating power. This will almost certainly have a negative impact on your credit score. The upside is that a debt relief program can enable you to settle your accounts for less than you owe.</li></ul><ul><li>Debt relief can help you avoid bankruptcy, but there is no guarantee your creditors will accept the settlement proposed by the debt relief company.</li></ul><p><a href="https://secure.money.com/pr/v10c94bc841c?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-debt-relief-companies%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-debt-relief-companies%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=v10c94bc841c&type=image" /></a></p><p>Debt relief, or debt settlement companies, are services that claim they can negotiate with creditors to reduce the amount of debt owed by their clients. Debt relief is not without controversy, and there are risks you need to be aware of.</p><p>If you owe a large sum of money at high interest and have had no luck with other debt consolidation methods, you might want to consider using a debt relief company. Read on to learn about the best debt relief companies.</p><h2>Our Top Picks for Best Debt Relief Companies of May 2024</h2><p>The companies listed below are organized alphabetically.</p><ul><li><a href="#Credit"><strong>Accredited Debt Relief </strong></a><strong>–</strong> Best for Quick Results</li><li><a href="#Tax"><strong>Community Tax </strong></a><strong>–</strong> Best for Tax Debt</li><li><a href="#Free"><strong>Freedom Debt Relief –</strong></a> Best Free Consultation</li><li><a href="#Large"><strong>National Debt Relief </strong></a><strong>–</strong> Best Reputation</li><li><a href="#Settlement"><strong>New Era Debt Solutions </strong></a><strong>–</strong> Longest-Standing Debt Relief Company</li></ul><p class="p1"><a href="https://secure.money.com/pr/k93e02ccb691?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-debt-relief-companies%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-debt-relief-companies%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=k93e02ccb691&type=image" /></a></p><h2>Best Debt Relief Companies Reviews</h2><hr /><p class="p1"><a href="https://secure.money.com/pr/lfb460798c34?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-debt-relief-companies%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-debt-relief-companies%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=lfb460798c34&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Programs can take as little as 24 months</li><li>No charge until you've received results</li><li>Multiple debt relief options available</li></ul><h3>Cons</h3><ul><li>Fees can amount to 25% of enrolled debt</li><li>Cannot track progress online like some competitor platforms</li><li>Not available in every state</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Debt management available</dt><dd>Yes</dd></dl><dl><dt>Debt settlement available</dt><dd>Yes</dd></dl><dl><dt>Additional services offered</dt><dd>Debt consolidation loans</dd></dl><dl><dt>Settlement fees</dt><dd>15%-25% of enrolled debt</dd></dl><hr><p><strong>Why we chose it: </strong>Accredited Debt Relief offers some of the quickest results among all the services we evaluated. Though the timeframe to become debt free will depend on your particular debt situation, the company can get you out of debt in as little as 24 months.</p><p>Accredited also offers a free consultation where you can speak with a specialist who will help you decide if debt settlement is the right option for you. If it turns out not to be, Accredited can connect you with one of its consolidation loan affiliates. Affiliate consolidation loans range from $1,000 to $100,000 and have APRs that range from 6% to 36%.</p><p><a href="https://money.com/accredited-debt-relief-review/">Read our full review of Accredited Debt Relief.</a></p><p>Learn more on <a href="https://secure.money.com/pr/h541398991f1">Accredited Debt Relief’s Secure Website.</a></p><hr /><p class="p1"><a href="https://secure.money.com/pr/yf00fba11ce3?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-debt-relief-companies%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-debt-relief-companies%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=yf00fba11ce3&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Staff includes licensed tax practitioners, IRS enrolled agents and CPAs</li><li>Free consultation</li><li>Available in all 50 states</li></ul><h3>Cons</h3><ul><li>Minimum debt requirements not disclosed</li><li>Doesn't list prices online</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Debt management available</dt><dd>No</dd></dl><dl><dt>Debt settlement available</dt><dd>No</dd></dl><dl><dt>Additional services offered</dt><dd>Tax resolution, tax preparation, tax assurance</dd></dl><dl><dt>Settlement fees</dt><dd>N/A</dd></dl><hr><p><strong>Why we chose it</strong>: Community Tax is your best bet for negotiating tax debt because the company employs a team of professionals who have a long history of dealing with the IRS.</p><p>Community Tax employs a robust team of licensed tax practitioners, enrolled agents and CPAs to help you settle your debt with the IRS. The company also offers services such as tax planning, tax preparation and bookkeeping, not to mention a free tax analysis.</p><p><a href="https://money.com/community-tax-relief-review/"><span style="font-weight: 400">Read our full review of Community Tax Relief.</span></a></p><p>Learn more on <a href="https://secure.money.com/pr/a3a946c473de">Community Tax’s Secure Website.</a></p><hr /><p class="p1"><a href="https://secure.money.com/pr/mc5ac38adc07?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-debt-relief-companies%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-debt-relief-companies%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=mc5ac38adc07&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Free, expert consultation</li><li>No upfront fees</li><li>Online progress tracker available 24/7</li></ul><h3>Cons</h3><ul><li>Fees range from 15% to 25% of enrolled debt </li><li>Not available in all states</li><li>No live chat customer support online</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Debt management available</dt><dd>No</dd></dl><dl><dt>Debt settlement available</dt><dd>Yes</dd></dl><dl><dt>Additional services offered</dt><dd>Debt consolidation loans</dd></dl><dl><dt>Settlement fees</dt><dd>15%-25% of enrolled debt</dd></dl><hr><p><strong>Why we chose it:</strong> While other debt relief companies offer free consultations, Freedom Debt Relief has the most comprehensive no-risk evaluation of all the services we considered.</p><p>If you’re considering debt relief, but are still on the fence, Freedom’s certified debt consultants can help you make an educated decision. If they feel your particular situation warrants debt relief, they’ll explain the money you could expect to save, and the estimated timeframe of the debt relief process.</p><p>This is an attractive option because it allows prospective customers to get a ballpark idea of what they can expect if they decide to go with the debt relief option.</p><p><a href="https://money.com/freedom-debt-relief-review/">Read our full review of Freedom Debt Relief.</a></p><p>Learn more on <a href="https://secure.money.com/pr/ua0ddb43c995">Freedom Debt Relief’s Secure Website.</a></p><hr /><p class="p1"><a href="https://secure.money.com/pr/e01bd0201f9a?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-debt-relief-companies%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-debt-relief-companies%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=e01bd0201f9a&type=image" /></a></p><hr><h3>Pros</h3><ul><li>High customer satisfaction ratings</li><li>No fees until accounts are settled</li><li>Arbitrators are IAPDA accredited</li></ul><h3>Cons</h3><ul><li>Fees can amount to 25% of enrolled debt</li><li>No mobile app</li><li>Not available in every state</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Debt management available</dt><dd>No</dd></dl><dl><dt>Debt settlement available</dt><dd>Yes</dd></dl><dl><dt>Additional services offered</dt><dd>Debt consolidation loans, credit counseling, bankruptcy referrals</dd></dl><dl><dt>Settlement fees</dt><dd>15%-25% of enrolled debt</dd></dl><hr><p><strong>Why we chose it:</strong> National Debt Relief has a solid reputation and history that shows in literally tens of thousands of positive online reviews.</p><p>National Debt Relief claims to have helped over half a million people get out of debt since the company was established in 2009. This is attested to by a multitude of five-star reviews across such sites as Trustpilot and Google.</p><p>New York-based National Debt Relief claims to have helped over half a million people get out of debt since the company was established in 2009. This is attested to by a multitude of five-star reviews across reputable third-party review sites.</p><p>Additionally, the company is accredited by the American Association for Debt Resolution (AADR) and Platinum Accredited by the International Association of Professional Debt Arbitrators (IAPDA). Customers have also given positive feedback on third-party review sites.</p><p><a href="https://money.com/national-debt-relief-review/">Read our full review of National Debt Relief.</a></p><p>Learn more on <a href="https://secure.money.com/pr/k9e555219819">National Debt Relief’s Secure Website.</a></p><hr /><p class="p1"><a href="https://secure.money.com/pr/zd46f4f3469a?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-debt-relief-companies%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-debt-relief-companies%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=zd46f4f3469a&type=image" /></a></p><hr><h3>Pros</h3><ul><li>Founded in 1999</li><li>Fees are not charged until a settlement agreement has been made</li><li>AFCC accredited</li></ul><h3>Cons</h3><ul><li>Not available in three states</li><li>Minimum debt not disclosed</li></ul><hr><hr><h3>HIGHLIGHTS</h3><dl><dt>Debt management available</dt><dd>No</dd></dl><dl><dt>Debt settlement available</dt><dd>Yes</dd></dl><dl><dt>Additional services offered</dt><dd>Free debt analysis</dd></dl><dl><dt>Settlement fees</dt><dd>15% - 25% of enrolled debt</dd></dl><hr><p><strong>Why we chose it:</strong> Out of all the debt settlement services we evaluated, New Era Debt Solutions has the longest service history.</p><p>New Era could be a viable option for customers who feel more comfortable with a provider that has a long track record. Since 1999, the company has been employing debt relief attorneys and negotiators to help customers pay off their unsecured debt for less than they owe.</p><p>On third-party review sites, customers praise New Era Debt Solutions representatives for their helpfulness in answering questions about the debt relief process. Some reviewers claimed their debts were cut in half and settled within the timeframe proposed by the company. On one consumer review site, New Era Debt Solutions has an A+ grade and a rating of 4.73 out of 5 stars, which is based on more than 3,500 reviews.</p><p>Additionally, consultants, resources and services are all available in Spanish.</p><p>Learn more on <a href="https://secure.money.com/pr/w6fe78906352">New Era’s Secure Website.</a></p><p class="p1"><a href="https://secure.money.com/pr/hcee358349c0?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fbest-debt-relief-companies%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fbest-debt-relief-companies%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=hcee358349c0&type=image" /></a></p><h3>Other debt relief companies we considered</h3><hr /><h4>JG Wentworth Debt Relief</h4><hr><h3>Pros</h3><ul><li>30 years experience</li><li>Great customer reviews</li></ul><h3>Cons</h3><ul><li>Not transparent about the downside to debt relief programs</li><li>Website short on information</li><li>Fee structure not clear</li></ul><hr><p>JG Wentworth is best known for its structured settlement business, but the company also provides debt relief services. It also has very positive reviews on multiple consumer websites.</p><p>However, while JG Wentworth is transparent in disclosing that creditors are under no obligation to negotiate, there is no mention on the website about the likely effects debt settlement will have on your credit and financial health. What’s more, it’s not clear what fees JG Wentworth will charge, or the minimum and maximum debt they can accommodate.</p><p>Learn more on <a href="https://secure.money.com/pr/h3678c99aabc">JG Wentworth Debt Relief’s Secure Website.</a></p><hr /><h4>Pacific Debt Relief</h4><hr><h3>Pros</h3><ul><li>Free consultation</li><li>Helps with many kinds of unsecured debt</li></ul><h3>Cons</h3><ul><li>Need more than $10,000 in unsecured debt</li><li>Not available in every state</li></ul><hr><p>Pacific Debt Relief helps qualified applicants consolidate and reduce their debt by up to 50% and can help settle multiple types of debt, including credit card debt, student loan debt, medical debt, business debts, personal loans, payday loans and more. To qualify, customers must have a minimum of $10,000 in unsecured debt. However, Pacific Debt Relief is less accessible than competitors, as customers don’t have an online account or portal.</p><p>Learn more on <a href="https://secure.money.com/pr/u8fad9606c2c">Pacific Debt Relief’s Secure Website.</a></p><hr /><h4>CuraDebt</h4><hr><h3>Pros</h3><ul><li>Tax relief services available</li><li>No upfront fees</li></ul><h3>Cons</h3><ul><li>Out-of-date website</li><li>Debt relief services not available in every state</li></ul><hr><p>CuraDebt helps customers with the debt settlement of credit cards, lines of credit, personal loans, medical bills, business debts, some secured debts, back taxes and IRS debt. While CuraDebt’s tax debt relief services are available in every state except Pennsylvania, its other debt relief services are unavailable in 15 states.</p><p>CuraDebt doesn’t charge monthly or upfront fees. Its website states that its costs are 20% or less of the total amount of debt on average.</p><p>Learn more on <a href="https://secure.money.com/pr/p6145839dd9e">Curadebt’s Secure Website.</a></p><hr /><h4>DMB Financial</h4><hr><h3>Pros</h3><ul><li>Free consultation</li><li>Over $1 billion in debt managed</li></ul><h3>Cons</h3><ul><li>Recent legal trouble with CFPB for unlawful fees</li><li>Doesn't list prices online</li></ul><hr><p>DMB Financial is a debt settlement company that will work with your creditors to help you restructure your debt and create a manageable time frame for debt repayment. The company offers a free consultation through one of its certified program consultants. However, DMB Financial doesn’t list prices for its services online.</p><p>The Consumer Financial Protection Bureau (CFPB) filed a lawsuit against DMB Financial in December 2020 for charging consumers unlawful fees, which resulted in a <a href="https://www.bbb.org/us/ma/beverly/profile/debt-relief-services/dmb-financial-llc-0021-15680">$5.4 million penalty</a>.</p><p>Learn more on <a href="https://secure.money.com/pr/wac1eb273f7e">DMB Financial’s Secure Website.</a></p><hr /><h4>Simple Debt Solutions</h4><hr><h3>Pros</h3><ul><li>Prioritizes consolidation loans</li><li>Large lender network</li><li>Settlement services available </li></ul><h3>Cons</h3><ul><li>Limited online resources</li><li>Loan rates can be as high as 35.99%</li></ul><hr><p>Simple Debt Solutions is a marketplace that specializes in debt consolidation loans, but also offers other debt relief services. Primarily, Simple Debt Solutions connects prospective borrowers with its large network of lenders in order to find them the best deal. This is noteworthy, as a debt consolidation loan is always a better financial option to debt settlement if the customer is able to qualify.</p><p>For those who cannot qualify, Simple Debt offers debt settlement and other debt consolidation options. On one third-party review site, the company has positive customer feedback, and on another consumer website, has received an A+ grade.</p><p>Learn more on <a href="https://secure.money.com/pr/r02dc1a678c5">Simple Debt Solutions’s Secure Website.</a></p><hr /><h2>Debt Relief Guide</h2><p>Before deciding on a debt relief company, you should understand how debt relief works, the pros and cons and all the options available to you. This guide will help you make the best decision.</p><ul><li><a href="#What-is">What is debt relief?</a></li><li><a href="#How-does">How does debt relief work?</a></li><li><a href="#Alternative">Alternative options to debt relief programs</a></li><li><a href="#How-choose">How to choose a debt relief program</a></li><li><a href="#How-apply">How to apply to a debt relief program</a></li></ul><hr /><h3>What is debt relief?</h3><p>Debt relief, also called debt settlement or debt resolution, is the overall reorganization or restructuring of your high interest debt when you are struggling to make on-time payments.</p><p>Debt relief companies will assist you in getting out of debt by negotiating with your creditors, but you may face negative consequences depending on your financial situation.</p><p>Some signs that you may want to consider debt relief include:</p><ul><li>You’re late on or missing payments</li><li>You’re having trouble budgeting for your payments</li><li>You’re not making any progress on paying off your debts</li><li>Your debts continue to accumulate</li><li>You’re considering bankruptcy</li></ul><p>To learn more about debt relief, read our <a href="https://money.com/what-is-debt-relief/">full guide to debt relief</a>.</p><h4>What is a debt relief program?</h4><p>A debt relief program is a plan, usually created by a debt relief or debt settlement company, to help you pay off your debt by negotiating with creditors to get them to accept less than the amount they are owed.</p><hr /><h3>How does debt relief work?</h3><p>When you start the debt relief process, the company will generally instruct you to stop paying your creditors. Instead, you will pay a monthly fee to the debt relief company directly and they will put your funds into a dedicated savings account. As the money in the account accumulates, the debt relief company will begin negotiating with your creditors.</p><p>Essentially, the debt relief company uses the fact you have stopped paying your accounts as leverage. Faced with the prospect of receiving nothing, the creditor will agree to accept a smaller amount paid in a lump sum from your dedicated bank account. Next, the creditor will likely close the account and it will appear on your credit report as “settled.”</p><p>Debt relief companies can only charge you once the settlement terms have been established with the creditor and a clear path forward is laid out. They usually charge a fee of 15% to 25% of your total debt, also known as your enrolled debt. While this percentage might seem high, considering a debt relief company can reduce your debt by up to 50%, it often ends up being less than your original debt amount.</p><p>Indeed, debt relief can be an appealing option to <a href="https://money.com/how-to-get-out-of-debt/">get out of debt</a>. However, there are important downsides to consider.</p><h4>Does debt relief hurt your credit?</h4><p>Debt relief will almost certainly hurt your credit. Payment history is the biggest factor the credit bureaus consider when determining your credit score. When you stop paying creditors, you will be dinged for late and missed payments.</p><p>Also, if your creditors close your accounts, it will negatively affect your credit utilization ratio, which is the second most important factor in determining your credit score. Closed accounts marked as “settled” means the creditor had to alter the conditions of the initial agreement.</p><p>Debt settlement can also take months if not years. The entire time the company negotiates with your creditors, you will still incur late fees and likely receive harassing phone calls.</p><p>Finally, there is no guarantee a given creditor will accept a debt relief company’s settlement offer, which could lead to a debt collection lawsuit.</p><h4>Differences between debt settlement and debt consolidation</h4><p>Debt consolidation refers to the process of applying for a personal loan or balance transfer credit card with better rates and more favorable terms than your current debt structure. Your debts are then transferred to the new account and you make one monthly payment.</p><p>Debt consolidation simplifies your personal finances and will generally improve your credit in the long run if you keep current on payments and don’t incur more debt. With debt consolidation, you still pay the entire amount you owe, ideally in a shorter time with less interest.</p><hr><table border="1" cellpadding="5px" cellspacing="0"><colgroup><col width="40%" /><col width="40%" /></colgroup><thead><tr><th><p><strong>Debt settlement</strong></p></th><th><p><strong>Debt consolidation</strong></p></th></tr></thead><tbody><tr><td align="center"><p>Stop paying creditors and negotiate with them to take less than the full debt amount</p></td><td align="center"><p>High interest debts are combined into a loan or transferred to a credit card with a lower interest rate</p></td></tr><tr><td align="center"><p>15-25% of the settled debt</p></td><td align="center"><p>Interest rates vary. Some loans and credit cards have fees</p></td></tr><tr><td align="center"><p>It will harm your credit. Negative marks can remain on your report for years</p></td><td align="center"><p>Credit score can lower initially because of the hard pull, but if used responsibly, it can improve credit in the long run</p></td></tr><tr><td align="center"><p>You could pay less than you owe and eliminate debts</p></td><td align="center"><p>Save money on interest, simplify payments, improve credit score and financial health</p></td></tr><tr><td align="center"><p>There is no guarantee creditors will agree to the terms provided by the debt settlement company. Stopping payments and closing accounts could significantly hurt your credit score</p></td><td align="center"><p>You need average to good credit to qualify for the most favorable terms. Also, if you choose a credit card transfer, the APR could change after an introductory period</p></td></tr></tbody></table><hr><p>If you’d like to learn more about consolidation, check out Money’s <a href="https://money.com/understanding-debt-consolidation/">debt consolidation guide</a>.</p><h4>Pros and cons of debt settlement</h4><p>PROS</p><ul><li><strong>Pay less:</strong> If the debt settlement company is successful, they could negotiate an amount significantly less than you owe, even with their fees.</li></ul><ul><li><strong>Pay faster:</strong> With debt settlement, you can eliminate your debt more quickly than continuing to pay monthly minimums.</li></ul><ul><li><strong>Avoid bankruptcy:</strong> Bankruptcy arguably has more far reaching effects than debt settlement.</li></ul><ul><li><strong>Avoid lawsuits:</strong> If the creditor agrees to the terms the account will be settled, and they will cease legal action.</li></ul><p>CONS</p><ul><li><strong>Credit score will drop:</strong> Late payments, missed payments and closed accounts marked “settled” can all significantly damage your credit and will last for years.</li></ul><ul><li><strong>Creditors may not negotiate:</strong> There is no guarantee your creditors will accept the debt relief company’s settlement, leaving you with more debt considering late fees and penalties, not to mention the potential of a lawsuit.</li></ul><ul><li><strong>Must keep up on payments:</strong> You must be able to make monthly payments to the debt settlement company to stay in the program. If you can’t, you will have to withdraw, leaving you in a worse place than you started.</li></ul><ul><li><strong>Scams:</strong> The debt settlement industry is rife with bad actors. Beware of guarantees of success and anyone who asks for money up front.</li></ul><h4>Is debt relief right for you?</h4><p>Because of its impact on your credit score and associated risks, employing a debt relief company is not for everyone. Getting a debt consolidation loan, a balance transfer credit card or working with a credit counselor or other debt management program is preferable.</p><p>However, if you are overwhelmed by debt, can’t keep up with payments and cannot secure a loan or credit card with a more favorable rate due to an already low credit score, debt settlement may be a viable option for you.</p><p>Below, we’ll discuss some of the alternatives to debt relief programs.</p><hr /><h3>Alternative options to debt relief programs</h3><p>There are several other options you should consider before employing the services of a debt relief or debt settlement service. Some of these will be less risky and less likely to negatively impact your credit score. In fact, many of them can have a positive effect in the long run.</p><p>These options include credit counseling, debt management, debt consolidation loans, negotiating with lenders yourself and bankruptcy.</p><ul><li><strong>Credit counseling –</strong> Credit counseling is usually provided by non-profit credit organizations that employ certified counselors in budgeting, money management and debt management. Credit counselors can also help advise you on the best <a href="https://money.com/7-ways-to-improve-credit-score/">ways to improve your credit score</a>, <a href="https://money.com/repair-bad-credit/">repair bad credit</a> and deal with your overall debt problems. When finding a credit counseling service, a good place to start is the <a href="https://www.nfcc.org/">National Foundation for Credit Counseling.</a></li></ul><ul><li><strong>Debt management –</strong> A credit counseling agency may help you set up a <a href="https://money.com/what-is-a-debt-management-plan/">debt management plan</a>. This plan could involve the counselor negotiating directly with creditors on your behalf to lower interest rates, waive fees and minimize payments.</li></ul><ul><li><strong>Debt consolidation loans –</strong> A <a href="https://money.com/what-is-a-debt-consolidation-loan/">debt consolidation loan</a> is a personal loan that combines and consolidates other high interest debts into one monthly payment. Ideally, the loan rate will be lower than your current debts allowing you to pay less in the long run.For more information, check out our top picks for the <a href="https://money.com/best-debt-consolidation-loans/">best debt consolidation loans</a>.</li></ul><ul><li><strong>Negotiate with creditors –</strong> It is possible to <a href="https://money.com/how-to-negotiate-credit-card-debt/">negotiate with each of your individual creditors</a> yourself. Essentially, you are doing the same thing as the debt settlement agency, only without the experience and negotiating muscle. It also requires determination, follow up and a lot of hard work on your part.</li></ul><ul><li><strong>Negotiate with debt collectors –</strong> If your debt has been sold, you may be able to <a href="https://money.com/how-to-negotiate-with-debt-collectors/">negotiate with the debt collector</a>. And since debt is usually acquired at a significantly reduced value than its original amount, you have the opportunity to engage with the collection agencies and find a middle ground between your initial debt and the price they paid for it.</li></ul><ul><li><strong>Bankruptcy – </strong><a href="https://money.com/how-to-file-for-bankruptcy/">Filing for bankruptcy</a> isn’t something to take lightly. You can use bankruptcy to help with your debt problems, but it will have a significant impact on your credit report.</li></ul><hr /><h3>How to choose a debt relief program</h3><p>Selecting a debt relief company requires careful consideration. Thorough research is essential, as even legitimate companies need to be vetted.</p><p>Beware of potential scams: Be cautious if a provider guarantees debt reduction or asks for upfront fees or set-up fees before providing services; these are red flags.</p><p>When choosing a debt relief company, consider these factors:</p><ul><li><strong>Reputation and accreditation –</strong> Legitimate debt relief or debt settlement companies will be recognized by the American Fair Credit Council (AFCC), so look for this accreditation on the company’s website or inquire with a representative. The AFCC is an organization that monitors and holds companies to the highest standards and also educates consumers on the subject of debt resolution.</li></ul><ul><li><strong>Customer Reviews –</strong> Review customer feedback on the Better Business Bureau (BBB), Trustpilot and other trustworthy sites. Occasional bad reviews are typical, but consistent negative patterns signal concern. Assess how the company addresses complaints; active engagement and resolving issues indicate reliability.</li></ul><ul><li><strong>Fees –</strong> By law, debt relief companies cannot charge upfront fees. They can only charge you once creditors agree to the settlement. Avoid companies requesting money upfront. Verify fees and payment details before committing. Typically, debt settlement companies charge a percentage of the settled debt; confirm this with a representative in advance.</li></ul><ul><li><strong>Accessibility –</strong> How easy is the company to get a hold of? Given the impact a debt settlement program could have on your financial health, you should be able to contact the provider on the phone or through chat, email or text, and they should be responsive to your questions. It is also a bonus if they have an online dashboard where you can monitor your progress.</li></ul><hr /><h3>How to apply for a debt relief program</h3><p>As debt relief comes in many different forms, applying for debt relief will depend on which option you decide to pursue. If you decide to get assistance from a debt relief company, your debt relief will depend on your eligibility for one of their programs. You can also try to get debt relief by consolidating your debts, speaking directly with your lender or declaring bankruptcy.</p><hr><h2>Debt Relief Companies FAQs</h2><h3>Are debt relief programs legit?</h3><p>Although debt relief programs can be legitimate, there are scams and fraudulent organizations present in the industry. Avoid any entity that offers guarantees or charges you up front. Only opt for a certified debt settlement company.</p><p>If a debt settlement company is following proper procedure, they will not charge you until an agreement has been made with your creditors and will be transparent about what you can expect from the process. Also, remember that a debt settlement plan will most likely have a negative impact on your credit score.</p><p>It's important to point out that debt relief companies typically cannot help with federal student loans, private student loans, auto loans or any other secured debts with collateral attached.</p><h3>Does debt relief hurt your credit?</h3><p>Debt relief can affect your credit depending on which type of relief you use. Filing for bankruptcy or using a debt settlement company can negatively impact your credit report. Alternatively, using debt relief methods such as debt consolidation may improve your credit if you make monthly payments on time.</p><h3>Is debt relief a good idea? </h3><p>Debt relief may be a good idea for people who are struggling or unable to repay their debts. A debt relief company might negotiate a favorable settlement with your creditors. However, there are downsides, including hurting your credit score. To find out if debt relief is a viable option for you, consult with a reputable debt relief company. Discuss your specific situation and be sure to ask about fees and potential outcomes. </p><h3>What is the best debt relief company?</h3><p>The best debt relief company is transparent about the debt relief process, including the company's fees, program timeline and potential outcomes. Note that a good debt relief company will not charge you upfront fees (this is illegal) and will not guarantee results, as it's up to the creditors to decide whether or not they will accept a settlement offer. </p><hr><h2>How We Chose the Best Debt Relief Companies</h2><p>We analyzed the top debt relief companies available to support our recommendations. To decide which companies were best, we employed the following methodology:</p><ul><li><strong>Costs</strong>: We chose debt relief companies that provide the best services for their given cost. Companies generally charge 15 – 25% of the debt they settle for you. By law, they cannot charge you anything up front and can only begin charging once the creditor has accepted the settlement.</li></ul><ul><li><strong>Customer support:</strong> We highlighted companies that are responsive to customers and offer assistance via phone, email, text and online form. Companies that offer the ability to track the debt settlement process via an online dashboard or mobile app fared well with us, too.</li></ul><ul><li><strong>Legal actions:</strong> We researched legal actions via the Consumer Financial Protection Bureau (CFPB) and news outlets. Companies with a pattern of legal issues or unsettled legal actions were disqualified from our list.</li></ul><ul><li><strong>Services and offerings</strong>: We favored companies that give you the most options when it comes to debt settlement. Most services will be able to work with credit card and unsecured personal loan debt, but it’s less common for them to offer help with medical bills, utility bills, rent and judgments.</li></ul><ul><li><strong>Third-party ratings</strong>: We looked at trusted third-party rating sites to determine how satisfied previous customers were with each service. We considered BBB accreditation and how likely the company was to respond to complaints in a productive way. We also considered the percentage of successfully closed complaints. Additionally, we took a look at other customer review websites specific to the debt relief industry in order to identify any pattern of similar complaints lodged against a given company.</li></ul><ul><li><strong>Transparency:</strong> We only considered programs that are transparent about their pricing structure and don’t trick you with hidden fees.</li></ul><ul><li><strong>Third-party ratings:</strong> We analyzed trusted third-party rating sites to determine how satisfied previous customers were with each service. We considered Better Business Bureau (BBB) accreditation and how the company responds to and successfully closes complaints.</li></ul><hr><div class="m00646-mc-why-trust-us"><div class="why-content"><h3>Companies we considered for Best Debt Relief </h3><div class="why-content-txt"><p>Accredited Debt Relief, American Consumer Credit Counseling, Americor Debt Relief, Apprisen, Atlas Debt Relief, Century Debt Relief, Century Support Services, Community Tax, Credit Associates, Debt Blue, Financial Debt Relief, Financial Future Debt Relief, Freedom Debt Relief, JG Wentworth, Liberty Debt Relief, Money Management International, National Debt Relief, New Era Debt Solutions, Umbrella Debt Relief</p></div></div></div><hr><h2>Summary of Money’s 5 Best Debt Relief Companies of May 2024</h2><p>The companies listed below are organized alphabetically.</p><ul><li><a href="#Credit"><strong>Accredited Debt Relief </strong></a><strong>–</strong> Best for Quick Results</li><li><a href="#Tax"><strong>Community Tax </strong></a><strong>–</strong> Best for Tax Debt</li><li><a href="#Free"><strong>Freedom Debt Relief </strong></a><strong>–</strong> Best Free Consultation</li><li><a href="#Large"><strong>National Debt Relief </strong></a><strong>–</strong> Best Reputation</li><li><a href="#Settlement"><strong>New Era Debt Solutions </strong></a><strong>–</strong> Longest-Standing Debt Relief Company</li></ul>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5940727</post-id> <media:thumbnail url="https://img.money.com/2023/06/Best-Debt-Relief-Company.jpg?quality=85" /> <media:content url="https://img.money.com/2023/06/Best-Debt-Relief-Company.jpg?quality=85" medium="image"> <media:title type="html">Best-Debt-Relief-Company</media:title> </media:content> </item> </channel></rss> If you would like to create a banner that links to this page (i.e. this validation result), do the following:
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