Ask the Experts: Some Frequently Asked Questions about the Automotive Industry
Credit and Budgeting Questions
What kind of things impact my credit score?
The most important factor that impacts your credit score is how you make your payments. If you pay your credit cards, loans, and other financial obligations on-time, you will be able to maintain a high credit score. It is also the easiest way for our Lindale, TX customers to rebuild your credit if you have had financial challenges in the past. If you have credit cards, another thing that can impact your credit score is the overutilization of your available credit. Many experts say that you shouldn't use any more than ten percent of your available credit at any time. This means that if you have a $2000 credit card limit, you should charge no more than $200 on that card. You should also avoid applying for a lot of credit before you are planning on applying for a major loan, like a mortgage or car loan as frequent "hard credit pulls" can lower your score.