Articles by Simon Zhen

Simon Zhen is the chief research analyst for MyBankTracker and an expert on consumer banking products, bank innovations, and financial technology. Simon has contributed and/or been quoted in major publications and outlets including Consumer Reports, American Banker, Yahoo Finance, U.S. News - World Report, The Huffington Post, Business Insider, Lifehacker, and AOL.com. Education: Education: B.S. in Health Sciences from Stony Brook University.

How the Federal Rate Increase Affects Savings Accounts & Loans Find out how the first rate increase in 2018 by the Federal Reserve affects your finances. Learn about the exact changes to interest rates on savings accounts, CDs, credit cards, mortgages, and other loans. See what you should do in response to the rate changes to ensure that you save more money. Putting Your Money in a Callable CD: How Wise Is It? Photo of Simon Zhen Simon Zhen Putting Your Money in a Callable CD: How Wise Is It? Despite CD rates staying at all-time lows these past few years, bank clients are... How to Bank Without a Branch Using ATM, Online, Mobile Banking Photo of Simon Zhen Simon Zhen How to Bank Without a Branch Using ATM, Online, Mobile Banking Branches are nice, but not necessary. You might already be banking in this... Guide to Maximizing Returns on Series I Savings Bonds Find out how you can get the highest returns possible on Series I savings bonds by learning how to estimate your earnings rate and time your purchase. How is Credit Card APR Interest Calculated Understanding how to calculate credit card interest is important to becoming a more educated consumer and using your credit more effectively. APY vs. APR: What's the Difference? Photo of Simon Zhen Simon Zhen APY vs. APR: What's the Difference? If you look at any credit card offer online, you'll see that interest rates are... How SunTrust and BB&T Merger Could Affect Customers Photo of Simon Zhen Simon Zhen How SunTrust and BB&T Merger Could Affect Customers SunTrust Bank and BB&T have decided to merge into one of the biggest banks in... Best 1-Month CD Rates 2023: Worth Considering for Short-Term Savings? Find out which banks offer the best 1-month CD rates for extremely short-term savings, especially since the interest rates tend to be lower than other options. What is a CD Ladder and How to Use It to Maximize Yields Learn how laddering your CD portfolio is a good way of taking advantage of the highest CD rates. Building Savings vs. Pay Down Debt: Which is Better When You Have Extra Cash Photo of Simon Zhen Simon Zhen Building Savings vs. Pay Down Debt: Which is Better When You Have Extra Cash When you have extra cash to help better your finances, you may be left with many...