Credit Scores and Car Financing Information

Credit Reports and How to Improve Your Rating with Express Auto Finance Company

About your credit

A good credit history is vital for more reasons than you think. Credit history is commonly a factor when applying for jobs, getting an apartment, cell phone contracts and rates for insurance and even utilities. Your payment history says a lot about your character, whether you’re responsible, dependable and live within your means. It’s very important for you to know what your credit report says about you.

The first thing to do is check your credit report

The three major credit bureaus are Equifax, Experian and Trans Union. Once a year you can get a free report on your credit at AnnualCreditReport.com. You should check your report for errors. There could be someone else’s information mistakenly mixed in with yours, and you’ll be able spot identity theft if there are accounts in your name that you didn’t open. Keep in mind that credit information stays on your report for seven years. A personal bankruptcy shows up for ten years.

Building Your Credit

The most important thing you can do to build your credit is to pay your bills on time. You can set up automatic payments for your monthly bills. Your bank or credit union can also set up automatic payments from your checking account and send the payment for you. If you find your credit score is so bad that you can’t get a loan or can’t qualify for a department store charge card, you can still improve your credit with financing at a buy here pay here or rent to own company. You can finance anything from electronics and furniture to a used vehicle. This is when Express Auto Finance can help you.

Good credit is an extremely important factor for your future. Bad things happen to good people. Having bad credit doesn’t make you a bad person. Ignoring your credit doesn’t help you build a secure future for you or your family. Take control of your credit and you will find more opportunities for your future.

The link below will help you understand what a good or bad score is and how it affects your interest rate on a traditional bank loan.

http://www.myfico.com/HelpCenter/Autos/Get_Better_Rate.aspx