Things you might need to know about your credit…   Does my score determine if I can purchase ...

Most banks do use a credit scoring system including FICO score. They look at information about how much debt you carry based off of your income; your employment history and past credit history. So lenders might be able to extend you credit even if your credit score is very low or if you are not showing any credit score at all.
 

Will a Bad Credit Score follow me around?  

Just the opposite is true your credit score is just a snapshot of your credit file at a certain time. Your score can vary from time to time as you open and close credit accounts. For example, you are carrying a high balance on a credit card and it has brought your score down due to the amount of open credit you have to your income. If the balance is paid off or if you are sending more then a minimum payment that would drive your score back up again.

Will my Credit score lower if I apply for an auto loan?

Credit inquiries will appear on your credit. Looking for new credit can equate with high risk, but most credit scores are not affected by multiple inquires from auto or mortgage lenders within a short period of time. Typically, they are treated as a single inquiry and will have little or no impact on the credit score whatsoever.
 

Will buying a Car raise my Credit Score?  

Yes!  If you are able to obtain an auto loan it can raise your score in time.  If you make your payments on time and payoff the loans agreed it can make a big impact on your credit score and in most case's it will raise your credit score significantly.
 

Credit Facts and things to remember!  

Having credit is a big responsibility and keeping your information safe and always making sure that you do the right things with your credit will be very important to you in the future. Scores can range from 300 to over 800. We do have programs that fit all types of customers that are trying to establish credit.  Just remember, paying your bills on time and staying current with your payments will help you maintain that good credit score that you deserve!