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Should You Choose a College Based on Price?
https://www.sofi.com/learn/content/choosing-college-based-on-price/
The cost of going to college can vary dramatically depending on where you go. The average cost of tuition and fees for the 2023-2024 school year is $42,162 at private colleges, $23,630 for out-of-state students at public universities, and $10,662 for in-state residents at public schools, according to U.S. News. Based on those numbers, the […]
Does Adding Your Spouse to a Credit Card Affect Your Credit?
https://www.sofi.com/learn/content/does-adding-spouse-to-credit-card-affect-credit-score/
Adding your spouse to a credit card could indirectly affect your credit, for better or for worse. If the bill is paid on time and credit utilization is lowered, it might build your score. But if your partner doesn’t use the card responsibly and it impacts your ability to pay the monthly bill, your credit […]
Differences Between Credit Card Cosigner and Authorized User
https://www.sofi.com/learn/content/credit-card-co-signer-vs-authorized-user/
When it comes to credit cards, a cosigner and an authorized user play very different roles: A cosigner could be responsible for the debt but usually can’t shop with the card. An authorized user, however, is the reverse: While they can make purchases with the card, they are not liable for the debt. It’s important […]
Creating a Credit Card Debt Elimination Plan
https://www.sofi.com/learn/content/credit-card-debt-elimination/
Credit card debt is a national issue in the United States. In fact, according to the Federal Reserve Bank Of New York, Americans’ total credit card balance was $986 billion in the first quarter of 2023 — $145 billion higher than it was in the first quarter of 2022. If you’re one of the many […]
Prepaid vs Secured Credit Cards: Similarities and Differences
https://www.sofi.com/learn/content/secured-vs-prepaid-credit-cards/
If your credit isn’t stellar, you may find it challenging to get approved for a traditional unsecured credit card. One option can be a prepaid or secured credit card, which can be more easily available than an unsecured credit card. However, these cards come with a few key differences. Understanding how a prepaid card and […]