Mastering Personal Finance: A Deep Dive into Bankrate and Its Alternatives

Introduction

In today’s digital age, financial management tools have become essential for individuals looking to make informed decisions about their finances. One such popular platform is Bankrate, a service that provides expert advice and tools for managing your money. In this blog post, we’ll dive deep into Bankrate’s offerings, discuss its features and services, and compare it to some notable alternatives in the market.

Bankrate: Overview

Established in 1976, Bankrate has evolved from a print publication to a comprehensive online resource, helping users make smarter financial decisions. The platform’s primary focus is on offering financial advice, tools, and resources related to mortgages, loans, credit cards, insurance, investing, and more. Bankrate is known for its in-depth articles, expert advice, and up-to-date financial data, making it a one-stop-shop for personal finance information.

Features and Services

1. Rate comparison tools: Bankrate provides users with up-to-date information on interest rates for various financial products, such as mortgages, personal loans, credit cards, and CDs. This feature allows users to compare different offerings from various financial institutions and make well-informed decisions.
2. Calculators: Bankrate offers a range of financial calculators designed to help users make better financial decisions. These calculators cover topics like mortgage payments, refinancing, auto loans, savings goals, and retirement planning.
3. Expert advice and articles: Bankrate boasts a vast library of articles and expert opinions on various personal finance topics. Users can find information about budgeting, investing, taxes, and more, all written by financial experts and journalists.
4. News and trends: Bankrate keeps users up to date with the latest financial news and trends, allowing them to stay informed and make better decisions in a rapidly changing financial landscape.
5. Financial product reviews: Bankrate provides unbiased reviews of financial products, including credit cards, loans, and insurance policies. Users can read these reviews to learn about the pros and cons of each product and make informed decisions.

Alternatives to Bankrate

1. NerdWallet: Another popular personal finance platform, NerdWallet offers comprehensive tools and resources for managing your finances. Like Bankrate, it provides rate comparison tools, calculators, expert advice, and product reviews. NerdWallet tends to be more focused on credit cards and investing, making it a good alternative for users interested in these areas.
2. Credit Karma: Credit Karma is primarily known for providing free credit scores and credit monitoring services. It also offers financial product recommendations and personalized advice based on your credit profile. If your main concern is managing and improving your credit score, Credit Karma may be a better fit for you.
3. Investopedia: Investopedia is an excellent resource for individuals seeking information about investing and personal finance. It offers in-depth articles, tutorials, and a vast financial dictionary. While it lacks some of the comparison tools and calculators found on Bankrate, Investopedia is a great choice for users looking to expand their financial knowledge.
4. Zillow: If you’re specifically interested in real estate and mortgage information, Zillow is an excellent alternative. It offers comprehensive data on home values, mortgages, and rentals, as well as tools to help you estimate your mortgage payments and find the best rates.

Conclusion

Bankrate is a well-established and comprehensive personal finance platform that offers a wealth of information, tools, and resources for users looking to make informed financial decisions. With rate comparison tools, calculators, expert advice, and unbiased product reviews, it’s a valuable resource for individuals at any stage of their financial journey. However, depending on your specific needs and interests, you may find value in exploring alternative platforms like NerdWallet, Credit Karma, Investopedia, or Zillow. Each of these alternatives has its strengths and focuses on different aspects of personal finance.

About Bankrate: History

Bankrate was founded in 1976 by Robert K. Heady as a print publisher of the “Bank Rate Monitor.”

In 1996, the company began moving its business online. Today, Bankrate, Inc.’s online network includes Bankrate.com as well as CreditCards.com, Caring.com, Interest.com, Bankaholic.com, Mortgage-calc.com, CreditCardGuide.com, ThePointsGuy.com, Bankrate.com.cn, CreditCards.ca, NetQuote.com, CD.com, Walla.by and Quizzle.

The online network received over 150 million visits in 2010.

In January 2011, Bankrate completed the acquisition of Trouve Media. In December 2011, Bankrate completed the acquisition of substantially all of the assets of InsWeb Corporation for $65 million in cash.

In March 2012, Bankrate acquired InsuranceAgents.com.

After spending 10 years as a public company traded on the NASDAQ, Bankrate was acquired in 2009 by Apax Partners in a transaction valued at approximately $571 million.

In June 2011, Bankrate raised a total of $300 million in gross proceeds with a successful initial public offering on the New York Stock Exchange. In December 2011, Bankrate priced a secondary offering of 12.5 million shares at $17.50 per share.

In 2012, the company purchased The Points Guy, a site that publishes travel-oriented articles highlighting the credit cards it sells.

In 2014, Bankrate acquired Caring.com for $54 million.

Kenneth S. Esterow was appointed Bankrate’s President and Chief Executive Officer in January 2014, having previously served as Senior Vice President – Chief Operating Officer from September 2013 to December 2013.

Bankrate was acquired by Red Ventures for $1.24 billion in November, 2017.

In January 2018, Bankrate expanded into the UK with an office, editorial, and commercial teams in London, along with a localized Bankrate UK website. The site is run by Sebastian Anthony, former editor of Ars Technica.

In September 2018, the former chief financial officer Edward J. DiMaria was found guilty of committing accounting and securities fraud which led to over $25 million in shareholder losses. DiMaria was sentenced to 10 years in prison, and ordered to pay $21,234,214 in restitution. Former vice president of finance Hyunjin Lerner also pleaded guilty for his role in the conspiracy and was sentenced to 5 years in prison.