Key takeaways For young people, building a good credit score can open many doors, including renting an apartment and getting your own phone plan. There are multiple ways to start building credit as a student, such as becoming an authorized user, opening a student credit card or getting a cosigner.…

Key takeaways Predatory lending refers to any unfair practice that benefits the lender and makes it difficult for a borrower to repay debt. Signs of a predatory loan include language like “guaranteed” approval, an inflated interest rate, hidden fees and tacked-on financial products you didn’t ask for. Be sure to…

Key takeaways You can earn airline miles by spending on an airline credit card or travel credit card, so you shouldn’t typically need to purchase them. However, you might want to consider buying miles if you get a better deal than paying for a flight in cash, or if you’re…

Key takeaways Bump-up CDs allow you to raise your interest rate at least once during your CD term. Guidelines and restrictions on bump-up CDs vary between financial institutions. Bump-up CDs are generally most beneficial when interest rates are on the rise. When interest rates rise, a bump-up certificate of deposit…

Antonio Guillem/Shutterstock Key takeaways If you have an existing mortgage, and your mortgage company goes bankrupt, your loan will be sold to another company. If your loan has been sold, continue to make your mortgage payments. The terms of your loan will remain the same. If you’re in the midst…

Key takeaways ChexSystems is a consumer reporting agency that banks and credit unions use to screen account applicants. You can dispute errors in your report and settle any outstanding debts to improve your chances of opening a new bank account. If all else fails, you can consider a second-chance checking…

Key takeaways Debt consolidation puts multiple debts into a single account to make your payments easier to manage. Consolidating debts may temporarily reduce your credit score, but your score will improve over time as long as you make payments on schedule. You can minimize the impact on your credit through…

Key takeaways Home equity loans are second mortgages: Borrowers convert all or part of their homeownership stake into ready cash, with the home as collateral for the debt. Home improvement loans are unsecured personal loans geared to be large enough for renovation projects. Home equity loans carry longer terms and…

Exchange-traded funds, or ETFs, are one of the most popular ways to invest. ETFs allow investors to hold a basket of securities in a single fund and trade on an exchange throughout the day like stocks. Many ETFs also come with low expense ratios, which means more of the return…

Key takeaways After the holder of a sole-owned bank account dies, the account may go to a designated beneficiary or be handled by the executor of the estate. Joint accounts often have rights of survivorship, but it’s important to confirm this with your bank to ensure smooth access to funds.…