Key Takeaways The Costly Mistake Many People Make With CDs Anytime you have a certificate of deposit (CD) nearing its maturity date, you face a deadline to decide what to do with the resulting funds. If you take no action, this could be a big mistake—as your money will most likely be rolled into a new CD at the same institution. While automatic rollovers seem convenient, they limit your choices and often cost you. First, they typically prevent you from earning a competitive interest rate, as the bank or cre ...