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Your credit report is an important document: It contains an in-depth record of how you’ve used credit in the past, and it can have a big impact on your life.

For example, when you apply for a loan, lenders usually check your credit report. That information contributes to their decision on whether to lend to you, as well as what interest rate to charge.

You might also have your credit checked by potential employers or when you are applying to get a mobile phone, rent a home, or perhaps connect some utilities.

Since credit reports can be so critical to many aspects of your life, it’s important that they be accurate. Unfortunately, these reports can have more errors than you may realize. An April 2024 Consumer Reports study found that 44% percent of people had errors on their credit reports. These mistakes ranged from relatively minor (like a typo in their name or address) to more significant (such as incorrect debt information that could be unfairly lowering their scores).

With that in mind, read on to learn how you can check your report and work to correct any errors you might find.

Getting a Credit Report

Like going in for a check-up once a year can benefit your physical health, regular credit report check-ups can benefit your financial health.

You can order a free credit report from each of the three major credit bureaus (Equifax®, Experian®, and TransUnion®) as often as weekly at AnnualCreditReport.com, a site run by the government. It’s a good idea to take advantage of this service, and to look over your reports at least annually.

Checking your credit report regularly can also make it easier to notice when the numbers look off or if something’s amiss. This could help you catch fraudulent activity.

Scanning a Credit Report

The best way to find an error in a credit report is to read through it thoroughly.

The Consumer Financial Protection Bureau (CFPB) recommends making sure that the following information is accurate:

•   Name

•   Social Security number

•   Current address

•   Current phone number

•   Previous addresses

•   Employment history (names, dates, locations)

•   Current bank accounts open

•   Bank account balances

•   Joint accounts

•   Accounts closed.

If any of the above is incorrect, the report has an error that you may want to dispute.

Common Credit Report Errors

While there are any number of errors that could crop up on a credit report, some are more likely than others. According to the CFPB, these are among the most common:

•  Typos or wrong information: In the personal information section, names could be misspelled, or addresses could just be plain wrong.

•  A similar name is assigned to your report: Instead of a typo, the credit report might be pulling in accounts and information of a person with a similar name to yours.

•  Wrong accounts: If an account is in your name but unfamiliar to you, this could be evidence of identity theft.

•  Closed accounts are still open: You may have closed a credit card recently, but the report shows it as still open.

•  You’re reported as the owner of the account, when you’re just an authorized user: If you’re simply an authorized user on a credit card, your credit report should reflect that.

•  False late payment: A credit report might show a late or delinquent payment when the account was paid on time.

•  Duplicate debts or accounts: Listing an account twice could make it look like more debt is owed, resulting in an incorrect credit report.

•  Incorrect balances: Account balances might show incorrect amounts.

•  Wrong credit limits: Misreported limits on credit card accounts can impact a credit score, even if they’re only off by a few hundred dollars.

How to Report an Error

Errors on credit reports don’t typically fix themselves. Account owners often have to be the ones to bring the error to the credit bureau’s attention.

Here are steps to take if you find an error in one of your reports.

1. Confirm the error is present on other credit reports.

Credit scores may vary across credit reporting bureaus, but all the core information should be the same. That means if there’s an error on one, it’s best to check if it’s on the other two. You can order free reports from all three bureaus from AnnualCreditReport.com and check each report against the others.

2. Gathering evidence.

To prove an element of the credit report is wrong, there needs to be evidence to the contrary. That means you’ll want to collect supporting documentation that shows the report has an error, whether that’s a recent account statement, ID, or a loan document. Having this documentation on hand can make the process move faster.

3. Report the error to the credit reporting company.

To resolve the error, you’ll want to file a formal dispute with the credit reporting company. You can contact them by mail, phone, or online. The CFPB offers more details on how to file a dispute.

Be sure to include all documentation of the error, in addition to proper identification.

Here’s how to contact each credit reporting company:

Equifax

Online: Equifax.com

Mail:

Equifax Information Services LLC
P.O. Box 740256
Atlanta, GA 30374

Phone: (888) 378-4329)

Experian

Online: Experian.com

Mail:

Experian
P.O. Box 4500
Allen, TX 75013

Phone: (855) 414-6048

Transunion

Online: Transunion.com

Mail:

TransUnion Consumer Solutions
PO Box 2000
Chester, PA 19016

Phone: (800) 916-8800

4. Contact the furnisher (if applicable).

A furnisher is a company that gives the credit reporting bureau information for the report. If the report’s mistake is an error from a bank or credit card company, you can also reach out to the furnisher to amend its mistake. You can contact the company through the mail (the address can be found on the credit report), or reach out to customer service by phone or online.

If the furnisher corrects the mistake, it could, in turn, update the credit report. But to play it safe, reach out to both parties.

5. Reach out to the FTC to report identity theft (if applicable).

If you notice an error that suggests identity theft (such as unknown accounts or unfamiliar debt), it’s a good idea to sign up with the Federal Trade Commission’s (FTC’s) IdentityTheft.gov site in addition to alerting the credit bureaus. The FTC’s tool can help you create a recovery plan and figure out the next steps.

6. Sit tight and wait for a response.

Once you send a credit dispute to a bureau or furnisher, you can expect to hear back within 30 days, typically by mail.

When a credit bureau receives a dispute, they have one of two choices: agree or disagree. If the bureau agrees, they will correct the error and send a new credit report.

If the bureau disagrees and doesn’t believe there’s an error, they won’t remove it from the report. In some cases, they may not agree there’s an error because there’s a delay in information getting to them. For example, a recently canceled credit card might not show up as canceled in their records yet. Changes like that might take some time.

However, if you’re confident of the error and a credit bureau doesn’t agree, that’s not your last stop.

You can also reach out to the CFPB to file an official complaint . The complaint should include all documentation of the dispute. Once the CFPB receives the complaint, you can keep track of its progress on the organization’s website.

The Takeaway

Checking your credit reports can help you ensure that the information used to calculate your credit scores is accurate and up to date. It can also tip you off to fraud or identity theft.
It’s easy and free to gain access to your credit reports from the three major bureaus. Taking advantage of this service (and reporting any errors you may come across) can be key to maintaining good credit, and good overall financial health.

Another way to maintain good financial health is to pay your bills on time (which adds positive information to your credit reports), and to keep track of your spending. The right banking partner can help with both.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

What are common errors on a credit report?

Common errors on credit reports include incorrect personal information (such as addresses or Social Security numbers), accounts that don’t belong to you, late payments that were actually on time, and incorrect credit limits or balances. Errors can also include closed accounts listed as open and duplicate entries.
These mistakes can negatively impact your credit, so it’s important to review your report regularly and dispute any inaccuracies.

Do you have rights when your credit report is wrong?

Yes, you have rights when your credit report is wrong. Under the Fair Credit Reporting Act, you can dispute inaccuracies with the relevant credit bureau(s). The bureau must investigate your dispute, forward the dispute and all relevant information you provided to the company that provided the information about you, and report the results back to you.

How to fix credit report errors fast?

To fix credit report errors quickly, start by obtaining a free copy of your report from all three major credit bureaus. Identify the errors and gather documentation to support your dispute. Submit a formal dispute using the credit bureaus’ online dispute systems for faster processing. It’s also a good idea to send a formal dispute letter to the company that furnished the incorrect information. Follow up with both the credit bureaus and the company to make sure your dispute gets resolved.

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

Third Party Trademarks: Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

SOBNK-Q225-076

When you’re in a crisis and economic circumstances feel anything but normal, you may wonder if you should rethink the way you’re using your credit cards. Here are some ins and outs of using — and rethinking how to use — credit cards during an emergency.

Is It Smart to Use Credit Cards During a Crisis?

Even during a crisis, credit cards aren’t magical “buy anything and worry about it much, much later” tickets. Many of the basics for using a credit card are in effect no matter what’s happening around you: Don’t make purchases just to get reward points, report missing or stolen cards immediately, be in the habit of checking your statements every month, etc.

That said, sometimes certain accommodations are made during a crisis. During the Covid-19 pandemic, for instance, many banks and lenders offered relief in the form of new policies to ease the burden for card holders who were struggling with their payments. Some waived fees, offered payment deferral or forbearance, or increased credit lines. Some banks even offered these three forms of support, and more.

Of course, it’s unwise to assume a bank or credit card company is focused on looking out for you during an emergency situation. The better option might be to contact your card issuer for information and any fine print. And keep in mind that while the ability to increase your credit line might sound good, it could also cause more headaches down the road.

Making minimum payments on credit cards can cost you substantially more money over time. The interest — especially compounding interest, which is essentially interest on interest already due — can often be a big challenge with credit cards. But there are ways to potentially avoid interest on credit cards, such as paying off a balance in full each month.

During a crisis, it’s a good idea to continue using your credit cards responsibly. Of course, sometimes financial situations change, and you may need to use a credit card to pay for your daily essentials. While carrying some debt from one month to the next isn’t necessarily something to be thrilled about, it might be worth it if it means getting the things you need to live.

Planning for the Future — Starting Now

Conversations about using credit cards are often about responsible saving and spending. There is no blanket yes or no answer to whether it’s a good idea to use credit cards during a crisis, although it’s certainly possible to be a little wiser about using a credit card.

If you’re feeling spread thin financially during a crisis, however, it might be worthwhile to hunt for credit cards that can offer more reasonable rates than your current cards. A good place to start might be with your current card issuers and see if they can lower the interest rate.

Another alternative might be to consider a cash-back credit card that offers cash rewards in a small percentage back on each transaction. Depending on the issuer, the card might offer higher rates for certain categories of purchases, so it might be worth doing some research and strategizing if there is a big purchase you had already planned on making.

There are also balance-transfer credit cards, or a card you would transfer existing card debt to, usually at a lower annual percentage rate (APR). The rationale and incentive for these cards is to hopefully lock your credit card debt in at a lower rate than it would be currently, to therefore make it less burdensome to work on paying it down.

There can be wrinkles to employing this strategy, however, so be sure to read the fine print to avoid balance transfer fees or other charges. The idea is you can pay off that balance with no interest on a more compressed timeline. However, that lower rate might change after the introductory period, and you may be saddled with an APR that could be even higher than the one you had to begin with.

Putting the Cards Down — For Now

If the idea of getting more plastic feels more like a problem than a solution, you may want to consider taking out an unsecured personal loan. This type of loan is not backed by collateral and is likely to have higher interest rates and lower loan amounts than secure loans. They also typically require a higher level of creditworthiness than a secured personal loan does.

There are common uses for unsecured loans, including:

•   Paying off credit cards

•   Consolidating debt

•   Paying bills

•   Covering home renovation projects

The Takeaway

Dealing with a crisis can be unsettling, especially if your finances are less than stable. You may wonder if it makes sense to use your credit card to pay for everyday essentials. While there’s no one-size-fits-all answer, it’s important to continue using your card responsibly, whether you’re in an emergency or not.

If you’re stretched thin financially, there are strategies you can consider. One idea is to try to negotiate a lower interest rate with your current card issuer. Another option is to explore a cash-back credit card or a balance-transfer credit card, both of which could help increase your purchasing power during a crisis. Or you may also want to consider taking out an unsecured personal loan, which could help you get the funds you need to pay bills or consolidate debt.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. See your rate in minutes.

FAQ

Is a credit card good for emergency situations?

In an ideal world, you’d use cash during an emergency situation. If that’s not an option, a credit card can help you pay for any unexpected expenses. However, you’ll want to be sure you can pay off the balance in full so you don’t incur interest.

Can I use a personal loan to pay off debt?

Personal loans can be used for nearly any purpose, including paying off debt. Debt consolidation loans can help you streamline multiple debts into a single payment, potentially at a lower interest rate.

Where should I keep an emergency fund?

The Consumer Financial Protection Bureau recommends a few different places to keep your emergency fund. You can put the money in a dedicated account with a bank or credit union. You can keep cash on hand, either in your home or with a trusted family member or friend. Or you may decide to load money onto a prepaid card.

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SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

SOPL-Q225-021

An ACH routing number is a nine-digit code that identifies a financial institution during an electronic financial transaction. It ensures that money transferred using the ACH (Automated Clearing House) network is taken from and sent to the right place. ACH transfers are usually faster than paper checks and are used for various transactions like autopay and direct deposits.

Since ACH routing numbers play a vital role in everyday banking, let’s take a closer look.

What Is an ACH Routing Number?

An ACH routing number is essentially a digital address for your bank. It’s used specifically for transfers made using the Automated Clearing House (ACH) network, a system that facilitates electronic payments and direct deposits between financial institutions in the U.S.

Smaller banks and credit unions may have only one ACH routing number, while big banks may use several different ACH routing numbers based on region.

You’ll need your bank’s ACH routing number for a number of financial transactions. This includes setting up direct deposit at work, getting a tax refund directly deposited into your bank account, authorizing a one-time online payment, setting up autopay, and using a P2P payment app.

To set up an ACH transaction, you also need to provide your account number, which (unlike an ACH number) is unique to you. Your account number identifies the specific account, such as a traditional or online checking account, within the bank you want to use for the ACH credit or debit.

How Do I Find My ACH Routing Number?

Let’s say you want to sign up to pay your homeowner’s insurance automatically every month or you need to enroll in a P2P app to send someone money. To find your bank’s ACH routing number, you have a few options.

Using Your Checkbook

If you have paper checks, you can find your routing number by looking at the string of numbers printed along the bottom of a check. Your bank’s routing number is the first set of nine digits on the bottom left. It is usually followed by your account number and then the check number.

Using Your Online or Mobile Bank Account

Another way to get your ACH routing number is to go to your bank’s website and sign into your account. Methods vary by bank but, typically, here’s how you do it: Click on the last four digits of your account number (which appears above your account information) and choose “see full account number” next to your account name. A box will then open to display your bank account number and routing number.

You can also find your ACH routing number by signing into your bank’s mobile app. Typically, you just need to choose your account title and then tap “show details,” and your bank account and routing number will appear.

Using the Internet

If you don’t have access to online banking, you can also find your ACH routing number by going to your bank’s official website. You can then use the search function to look for “ACH routing number” or check the “Help” or “FAQ” sections.

Another option is to do a simple internet search. Put “ACH number” and the name of your bank into a search engine and you should be able to find it. Keep in mind that some large banks may have multiple regional ACH numbers. You want to make sure you are getting the one associated with your location.

Contacting Customer Service

If you can’t get online, you can always contact your bank’s customer service department by phone. They can provide you with the correct ACH routing number.

What Are ACH Routing Numbers Used For?

ACH routing numbers serve several essential functions in the banking system. Here are some of the main uses for ACH routing numbers:

•   Direct deposit Employers use ACH routing numbers to deposit salaries directly into employees’ bank accounts. This method is fast, secure, and convenient for both employers and employees.

•   Bill payments Many people use ACH routing numbers to pay bills electronically. This includes payments for utilities, mortgages, and other recurring expenses.

•   Tax refunds The IRS and state tax agencies use ACH routing numbers to deposit tax refunds directly into taxpayers’ bank accounts.

•   Transfers between accounts ACH routing numbers are used to transfer money between different bank accounts, whether within the same bank or between different banks. This is common for personal transactions, such as moving funds from a checking account to a savings account.

ACH vs ABA Routing Numbers: The Differences

An ABA (American Bankers Association) routing number is similar to an ACH routing number in that it identifies your bank. However, these numbers are used in different contexts.

ACH routing numbers are specifically used for electronic transactions processed through the Automated Clearing House network. This includes direct deposits, bill payments, and other electronic funds transfers. ABA routing numbers (also known as check routing numbers) are used for processing paper checks and for wire transfers. ABA and ACH simply refer to the method in which the money is moved.

These days, the same nine-digit number can serve as both an ACH routing number and an ABA routing number, which means that the ABA and ACH routing number for your bank is likely the same. If that’s the case, your bank will simply refer to its ABA/ACH routing number simply as its “routing number.”

Some banks, however, may provide separate ACH numbers (for electronic transfers) and ABA numbers (for checks and wire transfers).

ACH vs ABA Routing Numbers: History

ABA numbers were created in 1910 by the American Bankers Association (ABA) to help facilitate the sorting, bundling, and shipping of paper checks. They are still used for the processing of paper checks (and also for wire transfers).

More than a half century later, in the late 1960s, a group of California banks banded together to find a speedier alternative to check payments. They launched the first ACH in the U.S. in 1972; that was a key milestone in the evolution of electronic banking.

ACH vs ABA Routing Number: Numerical Differences

In the past, ABA and ACH numbers were slightly different, specifically the first two digits. Today, though, they are typically identical. Your bank’s ABA routing number and ACH routing number are likely to be one and the same. The reason is that both ABA and ACH numbers are used for the same purpose — transferring funds to the correct destination.

The Takeaway

An ACH routing number is a nine-digit code that identifies a bank during an electronic financial transaction. The ACH system has been used for decades and makes life easier by keeping transactions quick and secure. While ACH numbers used to be different from ABA routing codes, today these two numbers are typically the same.

Whether you are setting up direct deposits, paying bills, or transferring money between accounts, it’s essential to know your bank’s ACH routing number. You can find it by looking at your checks, logging into your account, or doing a simple online search. It’s that easy.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

Is the routing number different for ACH and wire transfers?

In some cases, the routing number for ACH transactions may be different from the routing number used for wire transfers. ACH routing numbers are used for electronic transactions processed through the Automated Clearing House network, such as direct deposits and bill payments.

Wire transfers, which are often faster and more direct, require an ABA or wire transfer routing number. It’s a good idea to confirm with your bank to ensure you use the correct routing number for the type of transaction you are making.

For SoFi wire transfers, the routing number is the same for ACH and wire transfers: 031101334.

Do all banks have an ACH routing number?

All banks and credit unions that process ACH transactions have an ACH routing number. This nine-digit number is your bank’s digital address, and is essential for facilitating electronic transactions such as direct deposits and bill payments. Each financial institution has its own specific ACH routing number to ensure that transactions are routed correctly.

Is your ACH number your account number?

No, your ACH routing number is not the same as your account number. The ACH routing number is a nine-digit code that identifies your bank or financial institution. Your account number, on the other hand, is a unique identifier for your specific bank account within that institution.

Both numbers are required for electronic transactions, but they serve different purposes. The routing number directs the transaction to the correct bank, while the account number specifies the particular account to be credited or debited within that bank.

Photo credit: iStock/fizkes

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

SOBK-Q224-1885644-V1

For many people, a Disney World vacation ranks high on the travel bucket list. But Orlando’s ultimate amusement park can also be expensive, especially if you’re traveling with the whole family. While some costs are unavoidable, there are ways to save money at Disney World.

It can be challenging to get discounts on park tickets themselves, but there are a few tricks you can use to cut costs overall. Read on for the full rundown on how to save money at Disney World.

Tips for Saving Money at Disney World

For many kids and adults, a trip to Disney World is a dream vacation. Many parents look forward to the day they can take their kids to Disney just to see the looks on their faces when they walk into the Magic Kingdom.

Here are a few ways that you can save money at Disney World.

💡 Quick Tip: Banish bank fees. Open a new bank account with SoFi and you’ll pay no overdraft, minimum balance, or any monthly fees.

Take Advantage of a Free Disney Dining Plan

One of your biggest expenses at Disney World is meals. Food can be expensive in the park, since the company knows that you’re a captive audience.

You can bring your own food to Disney World, which can help you spend less on meals and snacks inside the park. However, this isn’t always easy or convenient. Occasionally, Disney runs sales where a Disney Dining Plan is included in the cost of your stay. While it may not make sense for every situation, it’s worth checking out in order to save money on food.

Travel Off-Season

The cost of Disney World park tickets is the same no matter when you go, but flights and hotel rates vary throughout the year. You may find cheaper deals if you travel in January (after New Year’s Day), the first half of May, from mid-August to just before Thanksgiving, and after Thanksgiving week until mid-December. Disney offers a “Crowd Calendar” that can help you find up-to-date information on the best times to visit their theme parks.

Another option is using credit card rewards to pay for flights and hotels. Some rewards credit cards offer a signup bonus that can help you save a significant sum on your Disney World trip.

Stay off-Site

Hotels near Disney can cost significantly less than Disney-owned properties, and some offer free shuttles. In addition, you might find more room options, such as rooms with kitchenettes or large suites that can accommodate a large family, along with “extras” like free breakfasts. For even more savings, look into Airbnbs or budget chains in nearby Kissimmee or Lake Buena Vista. Just be sure to factor in the cost of transportation to the parks when calculating how much you will save.

Stick to Your Budget

It’s a smart idea to set a budget in advance for your Disney World vacation and to create a separate travel fund. Not only can this help you save the money to afford your trip, it can also keep you from splurging too much while you’re there.

Saving money on a trip to Disney World doesn’t have to mean cutting down on the fun. Just make sure you budget appropriately and identify what is and is not important to you. This will help you stick to your budget and avoid running up a credit card balance that you can’t pay off in full when you get back (interest charges can add significantly to the cost of your Disney trip).

Recommended: Travel Tips and Hacks: Planning, Budgeting, and Booking

Choose Low-Cost Souvenirs

Like in-park food, souvenirs are another area where you’ll pay for convenience. If you have extra days in Orlando, consider shopping off-property for Disney souvenirs — like at the official Disney’s Character Warehouse store. If you’re traveling with kids, consider giving them an upfront “souvenir budget” and letting them choose how they want to spend it.

💡 Quick Tip: Want a simple way to save more everyday? When you turn on Roundups, all of your debit card purchases are automatically rounded up to the next dollar and deposited into your online savings account.

Buy Discounted Disney World Park Tickets

Because Disney World park tickets are usually in such high demand, there aren’t a lot of opportunities to buy them at a discount. One way to snag Disney World savings in this area is to buy discounted Disney gift cards from participating retailers (like Warehouse clubs) before you visit. You may also be able to buy Disney gift cards at Target and use your RedCard debit card to get 5% off.

The Takeaway

A Disney World vacation can be costly, especially if you’re traveling with a family. This makes it important to learn all the tips you can to save money at Disney World.

Traveling off-season, staying off-site, cashing in on credit card rewards, and getting discounted Disney gift cards can all help cut costs. It’s also a good idea to set a Disney vacation budget well in advance of your trip, then start saving up for you trip in a dedicated savings account. Choosing a bank that pays a competitive rate, and setting up a monthly automated transfer into the account, can help you reach your goal — and get packing – sooner.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

How can I spend less at Disney World?

There’s no denying that Disney World is an expensive place, but you have a couple of options if you’re trying to spend less at Disney World. One is to use your credit card points to help offset the cost. The other is to set a budget for the necessary costs that are important to you. Having a budget can help prepare you mentally to spend less.

How can I get airline miles to cover my flights to Disney World?

Airline credit cards are great for earning airline miles to help pay for flights. Look at the cost of airline tickets to Orlando from where you live, and see how many airline miles it would take to fly there. Then, look at signing up for an airline credit card to help get you the miles that you need.

When is the best time of the year to visit Disney World?

The best time to visit Disney World will depend on your schedule, priorities, and budget. Typically, Disney World will be more crowded (and hotels more expensive) during peak travel periods like summer, spring break, and holidays. Conversely, you may experience smaller crowds and lower prices if you travel in the off-season.

How can I save on souvenirs at Disney World?

To save on Disney World souvenirs, consider buying ahead of time online (and letting your kids open them throughout the trip), shopping at stores outside the parks, and using discounted Disney gift cards (available at some warehouse clubs). You might also give your kids a souvenir budget and let them choose how to spend it.

Photo credit: iStock/miniseries

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

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We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
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SOBNK-Q225-059

If you’re considering borrowing student loans, you may be wondering if it’s possible to get a student loan without a credit history.

Yes, you can borrow a student loan with no credit history, and it’s possible to get student loans with no credit check. Federal student loans (except PLUS loans) don’t require a credit check.

Private lenders do, however, review an applicant’s credit history during the application process. Potential borrowers who don’t have a strong credit history may be able to add a cosigner to strengthen their application, but there are no guarantees.

Keep reading to learn more on getting a student loan with no credit history, including how it differs between federal and private student loans, and tips on building your credit score.

Federal vs Private Student Loans

Student loans fall into two general categories: federal (offered by the government) and private (offered by banks and other lenders). There are options under each category that range from different eligibility requirements to fixed vs. variable interest rates. Here’s a look at the differences between the two types of loans.

Types of Federal Student Loans

If you’re searching for “student loans, no credit check,” federal student loans (aside from PLUS loans) fit that description. Federal student loans are funded by the U.S. Department of Education and are based on education costs and your current financial situation, not your credit history.

The most desirable type of federal loan, the Direct Subsidized Loan, has relatively low fixed interest rates that are set each year by the government.

Subsidization means that the government will pay for any interest that accrues on the loan while you’re in school at least half-time, as well as during your grace period and some deferral periods. Direct Subsidized Loans are awarded based on financial need and are only available to undergraduate students.

The other type of no-credit-required federal loan is the Direct Unsubsidized Loan. It also typically has low interest rates, but no subsidy means the interest starts to accrue as soon as the money is loaned, and borrowers are required to pay the interest that accrues. Unsubsidized loans are available to students at all levels of higher education and are therefore one of the most accessible types of student loans.

One advantage with both these types of federal student loans is repayment flexibility, including deferment, income-driven repayment plans, and forgiveness programs like Public Service Loan Forgiveness. If you’re trying to build your credit score, repayment options that could help keep you out of default are key.

Private Student Loans

Students also have the option of applying for private student loans, which are available through some banks, credit unions, or private lenders. The terms can be very different depending on the type of loan, whether you choose a fixed or variable interest rate, and your financial history — which includes things like your credit score.

If you have less-than-stellar credit, or not much of a credit history and income, you’ll likely need to apply with a cosigner, typically a family member or a close friend who guarantees to repay the loan in the event that you can’t. It’s important to choose a cosigner wisely. It should be someone with a solid financial history that you trust.

Recommended: A Complete Guide to Private Student Loans

Applying for Student Loans With FAFSA®

To start the federal student loan application process, fill out the FAFSA (Free Application for Federal Student Aid). Filling out the FAFSA is free, and it doesn’t commit you to any particular type of loan. The FAFSA is also the tool used by many schools to determine a student’s full financial aid award, including scholarships, grants, work-study, and federal student loans.

Applying for Private Student Loans

To get a private student loan, potential borrowers will apply directly with the private lender of their choosing. Each loan application may vary slightly by lender as will the terms and interest rates. Private student loans don’t have the same borrower protections that federal student loans offer, such as income-driven repayment plans or deferment or forbearance options. Therefore, they’re generally considered as a last resort, after all other sources of aid have been exhausted.

Parent PLUS Loans

Students aren’t the only ones who can apply for federal financial aid. Parents of undergrad students that are enrolled at least half-time can apply to receive aid on their behalf via the Parent PLUS Loan.

This is another type of unsubsidized federal loan, but it’s more restrictive in that both parents and children need to meet the minimum eligibility requirements. This type of federal student loan requires a credit check.

Like private loans, borrowers who don’t have optimal credit history may apply with a cosigner to guarantee a PLUS loan. And students are still typically able to seek additional unsubsidized loans for themselves to cover any gaps.

Tips for Building Credit

Entering college can be a smart time to start establishing credit. A borrower’s credit score could mean the difference between getting a good deal on a loan, or not getting a loan at all. Even a few points higher or lower might impact the interest rates a borrower may qualify for.

There are a number of sites that let you check your credit score for free and offer notifications if there are changes, so it’s easy to keep track of where you are.

The number that signifies “good” credit is between 670-739 for FICO Scores®. These scores are determined by factors such as the number of credit accounts a person has and how they are managed. One way to start building credit is to open some kind of credit account, and then make regular payments.

Paying bills on time, the credit mix you have, and your credit utilization ratio may all play a role in determining a credit score. While everyone’s circumstances are unique, try to make bill payments on time. Another general rule of thumb to aim for is to keep the credit utilization ratio under 30%.

Recommended: 10 Strategies for Building Credit Over Time

The Takeaway

Most federal student loans do not require a credit check and may be considered “no credit check” student loans. They are available to borrowers with no credit history. Parent PLUS Loans are one exception as they are federal student loans that do require a credit check.

Private student loans also require a credit check. Students with a limited credit history may have the option to apply with a cosigner if they are interested in borrowing a private student loan. As noted earlier, however, adding a cosigner does not necessarily guarantee approval for a loan.

If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.

FAQ

Can I get a student loan if I have no credit history?

Yes, it’s possible. Most federal student loans, such as Direct Subsidized and Unsubsidized Loans, do not require a credit check, making them accessible to students without established credit. However, private lenders typically assess credit history, so having no credit may necessitate a cosigner or result in higher interest rates.

Do federal student loans require a credit check?

Generally, no. Federal student loans like Direct Subsidized and Unsubsidized Loans do not require a credit check. However, Direct PLUS Loans, which are available to graduate students and parents, do require a credit check to determine eligibility.

How can I qualify for a private student loan without a cosigner?

Qualifying for a private student loan without a cosigner typically requires a good credit score and sufficient income. Some lenders may offer loans to students with limited credit history, but these often come with higher interest rates. Building credit through responsible financial habits can improve your chances of qualifying independently.

SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

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