Unemployment
Are Unemployment Benefits Taxable? What You Need to Know in 2025
Is unemployment benefits taxable in 2025? Yes-at both the federal level and in many states. Learn what to expect, how to plan, and how to avoid tax surprises.
Joyce Jiang
5 minutes
Unemployment
Do You Pay Taxes on Unemployment?
Unemployment benefits are taxable. Learn how federal and state taxes apply, how to avoid surprise bills, and how to protect your credit while unemployed.
Vince Adriatico
5 minutes
Unemployment
Do You Have To Pay Back Unemployment?
Do you have to pay back unemployment? Learn why some people owe money, how to request a waiver, and how to protect your credit during repayment.
Vince Adriatico
5 minutes
Unemployment
Can You Collect Unemployment and Social Security?
Wondering if you can collect unemployment and Social Security benefits at the same time? Learn how these programs work together, what rules apply, and how to stay financially stable.
Vince Adriatico
5 minutes
Unemployment
Is Unemployment Taxable Income? What You Should Know in 2025
Wondering if unemployment is taxable income? Learn how it's taxed federally and by state, how to avoid surprise bills, and how to rebuild credit with Cheers.Credit.
Vince Adriatico
5 minutes
Unemployment
What Is the Unemployment Percentage in 2025? Here's What the Numbers Miss
What is the unemployment percentage in 2025? It's 4.2%-but that doesn't reflect what recent grads, long-term job seekers, or struggling states are facing behind the scenes.
Joyce Jiang
5 minutes

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Cheers is a financial technology company and not a bank. Banking services are provided by Sunrise Banks N.A. Your funds are FDIC insured up to $250,000 through Sunrise Banks, N.A., Member FDIC. Results are not guaranteed. Improvement in your credit score is dependent on your specific situation and financial behavior. Failure to make monthly minimum payments by the payment due date each month may result in delinquent payment reporting to credit bureaus, which may negatively impact your credit score. This product will not remove negative credit history from your credit report. All loans are subject to approval.
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Accelerated reporting applies to the opening of your account, plus the first payment. Credit bureau reporting occurs monthly thereafter. All payment activity is reported to the credit bureaus. On-time payments may help build your credit, while late or missed payments may negatively impact it.
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Cheers Interest is calculated using an amortized repayment schedule at a fixed 12.15% Annual Percentage Rate (APR). Comparable products may charge APRs up to 36%, according to publicly available terms. Cheers also charges no administrative or hidden fees.
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Based on internal user survey data (2024), 95% of users with fair credit (580–669) saw a credit score increase of 20+ points after two months of on-time payments. Individual results may vary. Late or missed payments can negatively affect your credit.
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There are no application fees, maintenance fees, or early cancellation penalties.
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At the end of your term, your total savings (minus interest) is returned to you. You can cancel your account at any time without penalty.
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According to FICO®, 35% of your credit score is based on payment history, and 10% is based on credit mix. Cheers reports every payment and adds a secured installment loan to your profile. Source: myFICO
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Must be at least 18 years old, have a valid U.S. bank account, and a Social Security Number. All accounts are subject to identity verification and consumer report review by the issuing bank, Sunrise Banks N.A., Member FDIC.