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Personal Banking & Security
Understanding my bank accounts
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True or false: Credit and debit cards are essentially the same thing.


They're as different as night and day. Debit cards draw from money you already have, while credit cards borrow against a credit line—and will usually cost you interest.

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Which of these passwords would be the most secure?


The best option here is ILovePersonalFinance23!!, because that's the longest one, and includes letters, numbers and symbols.

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Key Takeaways

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Using your bank well is one of the most powerful ways you have to obtain credit responsibly, maximize savings and build a healthy financial picture.

  • Always be sure you understand the terms, perks and features of your credit and debit cards
  • Keep an eye on your monthly credit and checking account statements to be sure there aren't any suspicious charges
  • Remember that some deposits are available more quickly than others
  • The numbers of days a deposit is measured in business days, not actual days—be sure you know how your bank defines a business day
  • Use your checking account for short-term money management and bill-paying, and use your savings account for long-term goals
  • Remember that your debit card simply accesses money you already have, while credit cards borrow money