Credit

How does a certificate of deposit work? You lock cash in for a fixed term at a fixed rate. See how CDs pay, what breaking one costs, and how interest is taxed.

How does a secured credit card work? A refundable deposit sets your credit limit, and steady on-time payments build your credit score.

Here’s how to lower your credit utilization ratio: pay down balances before your statement closes, spread charges across cards, and ask for a limit increase instead of a new card.

If a family member opened a credit card in your name, you’re usually not liable if you act fast. Freeze your credit, dispute it, and file a free FTC report.

What credit score do you start with? None. Scores don’t exist until your file has history. Here’s when your first score appears and what it typically looks like.

Here’s how to build credit from scratch, step by step: open a secured card or credit-builder loan that reports to the bureaus, pay on time, and keep balances low.