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Holiday Automotive – Guaranteed Credit Approval

Credit is essential to borrow money. It represents the likeliness that a person will repay their loans, and it’s determined by a person’s borrowing history, among other variables. Below is a selection of answers to common, frequently asked questions about credit, credit reports, and credit scores. If you have additional questions, don’t hesitate to contact our Finance Department.

I have bad credit, what should I do?

If you have less than perfect credit, don’t fret; you’re not alone. Millions suffer from bad credit due to a wide range of reasons. To improve your credit, start by getting credit reports from all three credit reporting agencies. This will shed light on what exactly is impairing your credit. Credit reports may contain inaccuracies that you can correct to help get your credit back on track.

What is a credit score?

A credit score represents your creditworthiness and it’s used by lenders to gauge whether a person will make credit payments on time. Scores are largely based on your borrowing history. The most common type of credit score available to consumers is the FICO score, which ranges from 300-850. The higher the credit score, the more likely you’ll be able obtain credit and/or secure a lower interest rate.

What is a good credit score?

Credit scores range between 300 and 850. Typically, a good credit score is above 720.

What is a bad credit score?

The average credit score is 680. Anything below that number is considered “sub-prime” or a bad credit score.

How do I maintain a good credit score?

For those that already have good credit scores, rest assured that it’s much easier to maintain a good score than to improve a poor score. Good credit can be maintained by adhering to healthy financial habits, such as making payments on time and shopping on credit only when it’s absolutely necessary. Avoid making dramatic credit changes and don’t close old accounts.

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Holiday Automotive 43.7877556, -88.4874357.