Guides

How credit card rates, bank bonuses, CDs and the rest work, in plain words, with the rules and sources behind them.

• How CD early withdrawal penalties work · updated Oct 10, 2026
  Withdrawing from a CD before it matures costs a penalty, usually months of interest, which can cut into your deposit early in the term.
• How a variable credit card APR follows the prime rate · updated Oct 10, 2026
  Most card APRs are the prime rate plus a fixed margin, so they move when the Fed moves rates, usually from the next billing cycle, with no notice.
• How bank account bonuses are taxed (draft) · updated Oct 9, 2026
  A bonus for opening a bank account is taxable income. Banks usually report it as interest on Form 1099-INT, and you owe tax at your ordinary rate.