Reasons to check your credit score | OK Carz

Close-up Of A Businessman Checking Credit Score Online On Cellphone While Having Coffee

Why should you check your credit score? 

“Ignorance is bliss” is an old saying that posits that not knowing something can lead to being a happier and more content person. It is also the approach that many people take toward their credit score, despite the fact that it holds quite a bit of power over many large life decisions. Checking your credit score provides you with the knowledge that can help you get a loan for a home, obtain a credit card, and get a job. 

If you’re planning on applying for a loan or making a big purchase, it can be beneficial to check your credit score so you have an idea of what to expect when you apply. Your credit score can change based on your credit card or prior loan payments.  

[Related: Work your way into a new Toyota with OkCarz!]

Of course, simply knowing your credit score isn’t a magic “get out of jail free” card. Not all credit scores are created equal, and just because you know what yours is, you can still have a bad credit score. Once you know what your credit score is, you have the power to work toward changing it.  

What is a good credit score? 

Credit score gauge good and bad rating, information financial rate, vector illustration

The actual range of a good credit score varies based on which credit score company you’re looking at. Most scales start at 300 and go to 850. If your FICO® Score is between 670 and 739, it is considered a good credit score. Those with a credit score anywhere between 740 and 799 have a Very Good score, and those with Exceptional scores are between 800-850. Those numbers shift slightly for your VantageScore, where the Good range is 700-749, and Excellent is 750-850.  

These two scoring systems are the ones most often used by lenders to determine the strength of your application. If you have a high credit score, you’re more likely to be approved for credit and receive the best rates. With bad credit, you may not be approved, and if you are, your rates won’t be as good and you may have larger down payment amounts. 

If you’re looking to purchase a vehicle with low or no credit, come to OkCarz. They can help you explore financing options to get the used vehicle of your dreams. Learn more about how to get a car loan and boost your credit score at OkCarz at one of their five Florida locations. 

Sharing is caring!

Contact Information

So we may route your inquiry to the right person, please include your zip code.

 Phone     Email     Text Message

Index