1853 Search Results
1853 Search Results
https://www.sofi.com/learn/content/why-did-my-credit-score-drop-10-points-for-no-reason/
Whether you’re getting your ducks in a row to buy a house, trying to secure a lower interest rate on a future auto loan, or simply monitoring your credit as a personal finance best practice (good on you!), even a small dip in your credit score can make your stomach drop. The good news: In […]
https://www.sofi.com/learn/content/does-balance-transfer-affect-credit-score/
A balance transfer can affect your credit score either positively or negatively — though the upsides are likely to outweigh any adverse effects in the long-term if you manage the balance transfer responsibly. Typically, applying for a new line of credit triggers a hard credit inquiry, which temporarily lowers your credit score by five points […]
https://www.sofi.com/learn/content/how-credit-utilization-affects-credit-scores/
The lower your credit utilization — meaning the less of your total available credit you’re using — the higher your credit score could be. Typically, the rule of thumb is to use no more than 30% of your credit limit on your credit cards, and using only 10% or less is considered even better. Here’s […]
https://www.sofi.com/learn/content/does-applying-for-credit-cards-hurt-credit-score/
Applying for credit cards isn’t something you should take lightly because it can lower your credit score with each application you submit. Reviewing a credit card application typically involves a hard credit inquiry, which usually lowers a score by perhaps five points or so. If you were to fill out several credit card applications at […]
https://www.sofi.com/learn/content/how-to-lower-credit-card-utilization/
Your credit utilization is the percentage of your overall credit limit that you’re using, and it can have a major effect on your credit score. As your credit usage decreases, it can positively affect your score since it shows you’re responsible with credit. On the flipside, high credit utilization can ding your score as it […]
See what SoFi can do for you and your finances.
Select a product below and get your rate in just minutes.