1873 Search Results
1873 Search Results
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 […]
https://www.sofi.com/learn/content/why-did-my-credit-score-drop-after-paying-off-my-car/
Lowering your debt to improve your credit score means that you are considered less of a risk to a lender. And with a higher credit score, you will qualify for better financing terms. However, in some cases, paying off a car loan or other type of financing can have the opposite effect and actually lower […]
https://www.sofi.com/learn/content/why-did-my-credit-score-drop-20-points-for-no-reason/
There are several explanations for why your credit score might fluctuate by a few points now and then. But if you’ve noticed that your score is down by as many as 20 points, and you can’t think of any reason for this dramatic drop, it’s a good idea to do some checking ASAP. This can […]
https://www.sofi.com/learn/content/why-did-my-credit-score-drop-100-points-for-no-reason/
Credit scores measure your financial health at a given point in time. Ideally, your score increases as you build your credit history, so a sudden decline can leave you wondering why. Several things can cause a credit score to fall 100 points (or more), and late payments are often at the top of the list. […]
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