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

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

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

Most economically literate people generally understand that price controls are a bad idea, leading to outcomes such as shortages and rationing of goods and services. But when it comes to credit cards, ...

When my coworker's parents replaced their old, drafty windows this year, they put the $10,000+ purchase on a regular credit card -- and instantly started racking up interest. If they'd used a 0% intro ...