1853 Search Results
1853 Search Results
https://www.sofi.com/learn/content/why-did-my-credit-score-drop-50-points-for-no-reason/
A drop of 50 points in your credit score can be alarming, especially if you haven’t changed your financial behavior. While it’s not always clear what causes a drop, several factors could cause a decrease, including your history of debt payments, mix of credit, and age of your accounts. It’s also possible that your scores […]
https://www.sofi.com/learn/content/why-did-my-credit-score-drop-80-points-for-no-reason/
Your credit score is unlikely to drop for no reason, but it might drop for reasons you do not expect. Simply applying for a new credit card, closing out an old one, or being late with a payment can affect your score. A drop in your credit score of 80 points may be enough to […]
Paying down your credit card debt is a huge win for your finances, but you might see your credit score go down even after you lower your balance. While this can be confusing, the drop is often due to other factors, like the types of credit you have and the length of your credit history. […]
While there are many benefits to being an authorized user on another person’s account, you risk damaging your credit score if the primary cardholder isn’t responsible with the account. Let’s take a look at the pros and cons of being an authorized user and how to prevent a credit score drop after being added to […]
https://www.sofi.com/learn/content/how-being-an-authorized-user-affects-credit-score/
If you’re new to credit or want to rebuild your credit, becoming an authorized user on another person’s credit card account can help. As an authorized user on a credit card, your credit score can be positively impacted when the account and its activity are managed well and reported to the credit bureaus. The card’s […]
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