How you manage your credit card accounts can affect multiple factors that determine credit scores, including your payment history, credit utilization rate, average age of accounts and credit mix. Acquiring a credit card account, using it (or not) and choosing to close it can all have significant consequences for your credit scores. Credit card activity … Read more
This content may include information about products, features, and/or services that SoFi does not provide and is intended to be educational in nature. FICO® Scores, issued by the Fair Isaac Corporation, are one of the most popular types of credit scores. FICO Scores were first introduced in 1989, and there are currently 16 distinct FICO … Read more
Getting approved for a credit card can be challenging, especially if you have limited credit history or a low credit score. However, some credit cards are designed specifically for people who are new to credit or rebuilding their credit. These “easy-to-get” credit cards make approval more likely by requiring little or no credit history. In … Read more
“Expert verified” means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. The advice in this article is offered by the team independent of any bank or credit card … Read more
When you talk to a debt collector, you should make sure you really owe the money, figure out a reasonable payment plan, and offer to pay the debt collector. When you fall behind on your debt payments, it can be hard to handle. Collection calls start coming in, and you worry that your credit score … Read more
If you already have a credit card, itâs possible to get another card from the same issuer. It may even be preferable to you. As you explore your options, itâs worth looking at rates, bonuses, fees and rewards. Learn more about having two credit cards from the same issuer and some things to consider before … Read more
The Credit One Bank American Express® Card, first launched in October 2019, offers those in need of rebuilding their credit the ability to earn a flat rate of 1 percent cash back on every purchase — for a $39 annual fee. In addition to a simple rewards rate, the Credit One Bank Amex has a … Read more
Getting a house is probably one of the most important financial choices you’ll ever make. Finally, your credit score is a big part of whether you can get a mortgage and what the terms of the loan are. One of the most important things to know before you buy a house is what credit score … Read more
Living on your own creates a whole new level of responsibility. These tips can help you handle the job. Moving out of your parents’ house is a good way to get a quick education in life. The challenges of getting your finances in order, paying off student loans and learning to budget—and doing it without … Read more
Ignoring credit card debt is like ignoring that bubbling pot on the stove because you’re busy playing bingo on your phone or reading this article (seriously, go check on it). You’ll end up in hot water with a big mess to clean up. If your credit card company or a collection agency sues you to … Read more