John Puterbaugh
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Senior Editorial Director | @Bankrate. Used to work in newspapers, still love the news. Chicago sports guy.
Articles by John Puterbaugh
The refinance ‘Seniority Tax’: How a flawed system and aggressive lenders leave older homeowners overpaying for their mortgage Original
Table of contents Mortgage refinance overpayment rises with your age Aggressive lenders aim to ‘sell refi’ to seniors What else contributes to higher refinance costs for seniors How to push back on a costly or unnecessary refinance pitch When longtime mortgage loan officer Hillary Moussali worked at a local Chase bank branch, an elderly man walked in holding a mail advertisement with the bank’s name, promising “super low” refinancing rates.
Homebuying in America: Unexpected costs drained her savings. A refinance helped her regain control Original
Table of contents Setting the scene on homebuying Behind her homebuying experience What this means for you Her homeownership dream Crystin Liboma’s childhood dream was to own a home. At 26 years old, she moved out of her parents’ house into her first home purchase in Delaware. Then, she was slammed with major home repairs that left her struggling to pay her mortgage and several thousand dollars in credit card debt.
Most homebuyers overpay for their mortgage. Here’s where it’s costing them the most
Illustration by Clay Laucella/Bankrate Table of contents Where homebuyers are overpaying the most Mortgage overpayments by metro Why are homebuyers overpaying? 4 ways to avoid overpaying your mortgage If you have a mortgage, you are almost certainly overpaying for it – by more than $3,300 per year, to be exact.
‘Buy now, refinance later,’ they said. Mortgage rates said otherwise. Original
Illustration by Bankrate Table of contents 'Significant' risks for homebuyers The mortgage rate reality Calculating the break-even rate The risks of dating the rate What you can do Millions of Americans will move forward with home purchases this year, despite mortgage rates that won’t budge from their perch above 6% and home prices that continue to break records.
Three families gave up 3% mortgage rates. Here’s what they got in return Original
Illustration by Clay Laucella/Bankrate Table of contents Buying a house for the commute Buying a house to put down roots Buying a house for the military Your mortgage interest rate has a big impact on what you actually pay each month, so it’s an important number. But there’s also real life to think about. Is the house big enough? Is it in the right location? Will that quirky bedroom layout or wood wall paneling drive you crazy?
Mortgage loan professionals are paid to close — not to get you the best rate Original
Illustration by Clay Laucella/Bankrate Table of contents Commissions influence mortgage loan professionals When lender incentives are misaligned with yours Lenders aren’t fiduciaries — what to do about it In a typical homebuying process, you’ll work with a pleasant and helpful mortgage loan professional. But you should know they might not have any obligation to make sure you get the lowest rate or best loan you’re eligible for.
Why your mortgage rate is higher than it should be, and how much it’s costing you
Table of contents The relief of approval The lack of a true fiduciary A weakened regulatory environment There’s no way around it: Getting a mortgage to buy a home is complex and time-consuming — about as enjoyable as doing your taxes. Lenders need to know seemingly everything about your finances before writing a check for hundreds of thousands of dollars to help you buy a home. But hey, at least the process ensures you get the best loan for your circumstances, right? Unfortunately no.
This couple mortgaged 9 properties in under a decade. Here are the financing tips they swear by Original
Photo from Ali and Josh Lupo Table of contents 1. Get creative on how you enter the housing market 2. Scrutinize the 20% down payment rule 3. Choose your homebuying team wisely 4. Compare mortgage rates before borrowing 5. Know when it’s time to refinance From house hacking to buying a forever home Getting a mortgage can be complicated and full of surprises. Ali and Josh Lupo would know: They’ve gone through the process nine times.
Homebuying in America: From homeless to homeowner of “a place where my family can come” Original
Table of contents Setting the scene on homebuying Behind her homebuying experience Her homeownership dream Several years ago, Chandra Hawkins, 44 years old, was jobless and living out of her car. After being married for 15 years, she became a single mom with nothing to her name. A custody battle with the father of her three sons left her drowning in legal fees. She couldn’t keep up with her credit card bills. Her credit score tanked.
Homebuying in America: She wants a “cut-and-dried rule” for refinancing Original
Illustration by Clay Laucella/Bankrate Table of contents Setting the scene on homebuying Behind her homebuying experience Her homeownership dream First-time homebuyer Ryan Katherine, 30 years old, bought a Salt Lake City home with her partner in 2023. After agreeing to a 2-1 buydown — where you pay a lower mortgage rate for the first two years — the couple’s initial 4.625% rate turned into their current 6.625% mortgage rate.
The stars of “This Old House” spin-off learned you can still buy a home on a small budget. Barely. Original
Photo by "This First House" Table of contents Financing a house before the show’s taping Home sweet home, but not without compromise “This First House” hosts helped the couple renovate Choosing a homebuying team When Crystal and Jorge Javier outgrew their tiny attic apartment in New Jersey, buying a home felt like a natural next step. After all, they’d just gotten a cushy tax refund, and Jorge had earned a raise at work.
Homebuying in America: “I’m kind of squeezed out of buying a house.” He might build one instead Original
Illustration by Hunter Newton/Bankrate Table of contents Setting the scene on homebuying Behind his homebuying experience His homeownership dream Blake Johnson, a construction superintendent in Seattle, wants to buy land and build a house on it. After all, the 24-year-old has the chops — having worked 60 hours a week for several years on commercial and residential renovations. But loan interest rates for land in his area run from 10% to 16%, which is much higher than typical mortgage rates.
Homebuying in America: The lending process “was probably the biggest headache” Original
Illustration by Hunter Newton/Bankrate Table of contents Setting the scene on homebuying Behind her homebuying experience Her homeownership dream When Jessica Lee bought her townhome in Nashville, Tennessee, the builder offered 5% in closing costs if she’d borrow from their preferred lender. The 28-year-old financial analyst felt if she didn’t use the lender, she wouldn’t get the house. “If the builder is offering it, it’d be crazy not to take it,” she says.
Yo-yo financing: The shady lending tactic that can cost you your car even if you make every payment Original
Table of contents Johnson ‘wasn’t prepared for what was to happen next’ Yo-yo financing made possible by one-sided contracts What to do if you find yourself in Johnson’s shoes Marklyn Johnson drove to the grocery store in March 2025 with her boyfriend and 5-month-old son. They needed groceries, and welcomed a warm indoor diversion on a cold Connecticut winter day. As they were checking out at the register, Johnson looked out the window and noticed her car was gone.
Homebuying in America: “It felt like the biggest slap of buyer’s remorse” Original
Illustration by Clay Laucella/Bankrate Table of contents Setting the scene on homebuying Behind her homebuying experience Her homeownership dream Kayla Palmer, 31-year-old Nashville resident, bought a 100-year-old house with her husband in 2018 that turned out to be a money pit. She felt rushed by the real estate agent and misinformed about the house’s structural issues, leading to a series of costly problems after purchase.
How predatory but legal auto loans are systematically taking advantage of people with subprime credit Original
Illustration by Bankrate Table of contents The consumer experience The lender’s point of view How your rate can get lost at the lot Lacking regulation shifts onus to consumers This is a story about a predatory loan that can ensnare you in a matter of hours and lead to crushing debt — and perhaps wrecked credit — that can span years. It’s also a story about how it’s all perfectly legal.
There’s Still A Nationwide Shortage Of Homes — So Why Are Sellers Getting Desperate In Some Places? | Bankrate Original
Jeff Ostrowski Table of contents Long-term, nationwide supply Supply of homes for sale right now Tips if you’re buying or selling a home For years, Americans have heard this mantra: There isn’t enough housing in the United States. The ongoing shortage explains why affordability is such a challenge, and why so many Americans are spending their 30s as renters rather than homeowners. The reality has grown a bit more complicated. As the housing market cools, a new narrative is emerging.
A Complete Guide to Your Options | Original
Quentin Top / Hans Lucas / AFP via Getty Images Table of contents Why are costs going up? How to start saving on insurance Private health insurance options Private health insurance premiums will be going up in 2026 — in some cases, by a lot. Congressional Democrats and Republicans remain deadlocked on health care reform, following disagreements over America’s health insurance marketplace that contributed to November’s government shutdown.
When did Christmas cheer get so pushy? How to get offline and save your money Original
Tatiana Meteleva/Getty Images Table of contents Impulse shopping on social media Deinfluencing Christmas Shop with a budget It’s easy to get swept away in the latest viral holiday trend or marketing push. This year, it’s a Ralph Lauren Christmas. Don’t miss the Viral TikTok garland. Stuff your stockings with lippies, digital cameras and ice rollers. Hide the elf on the shelf in a new place every day.
Divorce Season: What to Know Original
Illustration by Hunter Newton/Bankrate First comes love. Then comes marriage. And for around 670,000 couples per year, then comes divorce. While you’re thinking about the holiday season that’s off and running, the nation’s divorce attorneys are already looking ahead to another kind of season: divorce season. Sadly, if not surprisingly, filings tend to go up in January after the holidays are done, says Liz Vaz, a divorce attorney and mediator based on Long Island, New York.
Laid off with a monthly mortgage payment. How do you manage?
Illustration by Hunter Newton/Bankrate Table of contents Call your lender The job market is tough Know your options One homeowner is still on the job hunt You’ve lost your job. Who are you going to call? It might have to be your mortgage lender. A cooling job market is colliding with high homeownership costs, putting many people into a particular new squeeze: a loss of income and a monthly payment that was already hard to manage.
This single mom of 3 uses SNAP to feed her family. Now, she’s caught in a political tug-of-war Original
Bloomberg/Getty Images Table of contents What’s next for food aid in America? A vision of comfortable living SeBrina Bibb’s husband died in 2020, thrusting her into the role of single mom to 3 young kids. Money challenges quickly piled atop her grief. Income, child care and basic household labor all fell to her. At one point, Bibb and her children were homeless, sleeping on the couches of friends and family. Unable to afford daycare as a single parent to young children, Bibb couldn’t work.
For Young People in Debt, Bankruptcy Seems Like a Get Out of Jail Free Card. Is It? | Original
Illustration by Grant Crowder/Bankrate Table of contents Bankruptcy filings are on the rise Alternatives to filing Risks of bankruptcy To file or not to file? Don’t feel guilty, says a credit counselor Life after bankruptcy When Whitney Catalano filed for Chapter 7 bankruptcy in 2022, she was self-employed, living in an apartment she couldn’t afford and carrying $60,000 in credit card and personal loan debt. For her, bankruptcy looked like freedom. “I felt very overwhelmed by money,” she says.
A letter to my daughter: Career advice for an unfair world
Dear Abby, You probably won’t earn as much money as a man who does the same work for most of your career. I know this makes you mad. It makes me mad, too. This gender pay gap has been a problem in America for decades. Women earned 61 cents for every dollar earned by a man in 1960 – when your grandmothers were children. There has been progress since then. But not enough, and it’s even gone backwards the last couple years.
A letter to my daughter: Career advice for an unfair world
Table of contents Some advice for when you’re older Thinking about college Choosing a career path Talking about your pay Investing in your future Dear Abby, You probably won’t earn as much money as a man who does the same work for most of your career. I know this makes you mad. It makes me mad, too. This gender pay gap has been a problem in America for decades. Women earned 61 cents for every dollar earned by a man in 1960 – when your grandmothers were children. There has been progress since then.
How To See More Bankrate Results In Your Google Searches
PeopleImages/Getty Images Key takeaways You can add trusted sources to your Google preferred publishers list to see more of our stories in your search results. It’s simple to add trusted sources using direct links or with a few clicks directly from your Google search results. Adding trusted publishers helps ensure you see more reliable, relevant sources at the top of your search results. There are so many publishers competing for your attention online.
Premium Travel Cards Are Leaving Average Consumers Behind
Hispanolistic/GettyImages Table of contents What's happening to premium travel cards? Exclusivity is the point Your power is in your wallet Here’s something credit card experts know but you might not: it’s getting much tougher for the average person to find a great travel credit card that unlocks luxury experiences without the price tag. Major credit card issuers have steadily made premium credit cards more exclusive in recent years.
I'm A Credit Card Expert — Here Are 30 Things I Always Tell People | Bankrate Original
Illustration by Bankrate As a personal finance journalist and a credit counselor, people often ask me for credit card advice. And I’m happy to give it! But I find myself sharing the same set of basic facts because they’re helpful for so many people. And then it dawned on me: Credit cards can be as simple or as complicated as you make them. But behind (or is it beneath?) every credit card strategy is a set of basic facts and ground rules that are true and relevant to every strategy.
52% of older Americans carry credit card debt. Here’s how it holds them back Original
Credit card debt is the worst, and it can be especially burdensome for older people. Sadly, it’s a common burden. Fifty-two percent of U.S. adults aged 50 to 64 carry a credit card balance month to month, according to a recent AARP survey. Dealing with card debt at this stage of life can have major negative impacts on financial health, and getting rid of it comes with a set of unique challenges.
4 Ways You Might Be Making Your Card Debt More Expensive Original
Photography by Getty Images Table of contents Making only minimum payments Taking out cash advances Repeatedly transferring balances Chasing rewards Using a credit card is simple in theory: You borrow money, then you pay it back. If you don’t pay all the charges in full when your bill is due, interest starts to accrue. If you miss a payment, you’re hit with extra fees. But as many Americans know all too painfully well, there’s more to effective credit card usage than just paying on time.
Debt happens. Learn from this Bankrate expert's experience
Benét Wilson lost her previous job unexpectedly last May. Wilson, my colleague and a lead credit cards writer for Bankrate, said she wasn’t too worried about her financial situation at first. She had two months’ worth of expenses in savings, and the program provided some compensation “for the inconvenience.” So she decided to take the summer to travel and map out her next steps, carrying on with a degree of normalcy. And then an issue with her car brakes popped up. Then, medical expenses happened.
6 Signs You're Ready For A Student Credit Card
Being a college student opens up opportunities for attractive student credit cards with cash back or rewards. Before applying for a student credit card, it’s important to have savings and an understanding of how credit cards work. A plan for your first credit card, income and honesty about personal discipline with money are factors to consider before applying for a credit card.
Why Credit Card Loyalty Is Overrated
When you have a credit card you’ve been using for years, it’s all too easy to hold on to it. Plus, credit card issuer loyalty does have its advantages. But it also might mean you’re missing out on a card that’s a much better fit for you. The credit card market never stops evolving. The same is true for your spending habits. When you keep the same card for a long time, you might not realize it doesn’t bring you as much value as it used to — or that a different card could offer more.
5 Credit Card Marketing Tricks And What You Should Know Original
Credit card experts are full of tips and tricks to help you get the most out of your credit cards. Card issuers have their own tips and tricks – but they work a little bit differently than what the experts will tell you. It is a business for the card issuers, after all, and they’re full of smart marketing tactics to make sure they’re successful. And the way issuers succeed isn’t always aligned with how you can succeed as a card user.
The Chase Sapphire Preferred Is Changing. Is It Still A Keeper?
The Chase Sapphire Preferred® Card has been a long-time staff favorite at Bankrate. A no-brainer. The $95 annual fee is comparatively modest, the travel benefits are solid, and valuable transfer partners are plenty. Plus, even if you didn’t use the transfer partners, you could redeem your rewards at a respectable rate of 1.25 cents per point at the issuer’s travel portal — a rare offer on the travel credit card market. But then things changed.
When Did Travel Credit Cards Start Turning Into Coupon Books?
Travel credit cards used to be simple. Or at least simpler. You use them for everyday purchases, earn rewards and redeem your points or miles for free travel. Sadly, they aren’t that simple anymore. Getting the same value out of your travel cards is as difficult as it’s ever been. Card issuers are increasingly dictating where cardholders should spend to reap the benefits. Extensive lists of statement credits might even resemble classic coupon books.
Why Now Is a Great Time to Prioritize Paying Down Card Debt Original
Economists say there’s at least a 1-in-3 chance of a recession (36 percent) in the next 12 months, according to Bankrate’s latest Economic Indicator Poll. A recession would be bad news for everyone, and it could be even worse if you’re carrying expensive credit card debt. The average credit card debt is $6,730, according to the most recent data from Experian. Facing the risk of financially hard times with such an amount of debt can be daunting. And getting rid of debt is usually a challenging task.
What experts want you to know about BNPL and your credit reports
You can use Buy Now, Pay Later (BNPL) for just about anything. Shopping online and in-person, big and small purchases, even your groceries and your takeout. Now, imagine your lender seeing all this when you apply for credit. No big deal if you’ve been diligent about timely repayment, but it’s another story if you’ve fallen behind or defaulted. Previously unreported to (and thus unseen by) prospective lenders, BNPL activity is making its way to credit reports.
It's Now Easier to Earn Card Points on Rent. But Should You?
If you’re a renter, your rent payments are most likely your biggest monthly expense. Earning credit card rewards on this expense used to be complicated and rarely worth it — but that continues to change. The Bilt Rewards program makes it possible to earn valuable points on rent payments. And now, you don’t even need the Bilt Mastercard to take advantage of it. Recently, the company has opened its program to Visa, Mastercard, Discover and Amex cardholders.
Financial Uncertainty Impacted My Wallet — And My Mental Health Original
Buy a home, they said. Invest in your 401(k), they said. Increase your income, and it will all be fine, they said. As a millennial in America, I’ve done my best to make the right moves in my career and with my money. I’ve done what they said. So why does it all still feel so hard? I began my career in personal finance journalism in 2019, and it feels like all we’ve seen in that time is economic uncertainty. COVID. Soaring interest rates and inflation.
6 Tips to Travel Smart and Stay Out of Debt, from Bankrate Experts
Traveling for vacation gets expensive fast. It’s no wonder more than half of U.S. adults (54 percent) are planning to skip travel altogether this summer, according to Bankrate’s Summer Travel Survey. And of those who do plan to travel, almost a third (29 percent) are expecting to go into debt to pay for it. Many Bankrate experts have a rule not to carry a credit card balance, but we sure love to travel.
New Research Shows How Persistent Credit Card Debt Is Original
Credit card users tend to fall into two main groups: those who carry a balance and those who don’t. And how much credit people in either group use tends to stay consistent over time, according to recent economics research by West Virginia University (WVU). That means when someone’s credit limit goes up or down, so does their credit usage. Carrying a balance is never a good pattern to have.
3 Ways to Use It
The Chase Sapphire Preferred® Card, one of the most popular travel credit cards, recently launched a limited-time welcome bonus offer. New cardholders can earn 100,000 bonus points after spending $5,000 in the first three months with the card. If you redeem the bonus through Chase TravelSM, your points will be worth 1.25 cents apiece, meaning you’ll get at least $1,250 in value. If you transfer these rewards to Chase travel partners, you can stretch this value even further.
You Have a Problem With Your Credit Card Issuer. What Can You Do? Original
Robb Sommerfeld used a popular business credit card to help manage finances at National Center for Craftmanship (NCC), a nonprofit where he serves as an executive director — until the bank suddenly closed the account. The sudden account closure put Sommerfeld and his organization in a tough spot, as the credit card played a key role in the regular payment of vendors. Sommerfeld spent nine hours in total talking to multiple people at the bank, over the phone and in person.
Capital One Venture X Business
One of the best business cards on the market, the Capital One Venture X Business, is launching a new welcome bonus offer. For a limited time, new cardholders can earn up to $3,500 worth of travel after meeting the spending requirements. That’s more than double the amount you could get with the card’s previous intro bonus. The updated welcome offer allows you to offset the card’s $395 annual fee (See Rates and Fees) eight times over, and that’s before you consider the value of rewards and benefits.
How Card Experts Use Their Chase Sapphire Preferred Bonuses
Bankrate’s editorial team is full of Chase Sapphire Preferred® Card fans. And there’s a big new welcome offer for the card that Chase just announced this week that provides a timely example of why this card is consistently a staff favorite. For a limited time, the card offers 100,000 points for spending at least $5,000 within the first three months of account opening. That’s $1,250 in value when you redeem your points for travel purchases through Chase Travel.
5 Ways Not To Use Your Credit Cards On A Spring Break Trip
It’s officially spring break season, and I am here for it. As a credit cards writer, my passion for plastic payment methods is matched only, perhaps, by my passion for the travel I often use my cards to enable. So I decided to put together some helpful tips for anyone planning an international spring break trip this year. I use a credit card for practically every purchase I make, but using cards in a foreign country can come with unpleasant surprises if you aren’t prepared.
5 sneaky signs your identity might be stolen Original
Someone might be using your identity right now. It can be easy to miss it — but there are things you can watch out for to protect yourself. Identity fraud is sadly all too common, and technological innovation can make it even worse. More than 2 in 3 Americans (68%) have at some point experienced a financial scam or fraud, according to Bankrate’s Financial Fraud Survey.
How a balance transfer card can help you spring clean your finances
Spring cleaning doesn’t have to be limited to your home. It can also apply for your finances — an especially good idea if you still have debt lingering from the holidays. More than 1 in 4 consumers (27 percent) said they planned to go into debt this past holiday season by carrying a credit card balance or using a buy now, pay later (BNPL) service, Bankrate’s 2024 Early Holiday Shopping Survey found. If your ears are suddenly burning, now is a great time to figure out your next steps.
Trump wants to cap credit card rates at 10%. Is that possible? Original
Credit card interest rates are too damn high, according to an unlikely combination of politicians who’ve recently drawn attention to the subject. Money experts agree credit card debt can be a major challenge for many card users. At 20.1 percent, the average credit card interest rate imposes a steep penalty in the form of interest charges for people who carry debt on their cards. President Donald Trump talked about capping credit card interest rates on the campaign trail in the fall of 2024.
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