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Credit Score Factors

Credit Score Factors at Tom's Car Country

One of the most important factors to consider when purchasing a new car is your credit score. What is a credit score? Quite simply, it’s a three-digit number that helps financial institutions decide how well and how often you pay back your debts. However, despite its importance, the elements that determine your credit score continue to be confusing for many people. In order to help answer some questions and shed light on the issue, we here at Tom's Car Country have decided to answer some frequently asked credit score questions.
 

What helps determine credit score?

The factors that determine credit score can be divided into three main areas. These areas are your account information, public records, and any inquiries that are made by various lenders.
 

How does having multiple credit cards affect my credit score?

The more important question to consider is how does having multiple credit cards with high balances affect my credit score? Having multiple credit cards alone will not make or break your credit score. However, possessing high balances on several credit cards will have a major negative effect.
 

Will cosigning potentially affect my credit score?

When you agree to cosign for a purchase of any kind, you accept full responsibility if the other person does not cover the costs, which will have an impact on your credit score. Our advice would be to carefully consider before cosigning.
We hope these answers shine a little more light on the confusion surrounding credit scores and help you determine the health of your own credit score.

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Hours

  • Monday
    7:30am-5:30pm
  • Tuesday
    7:30am-5:30pm
  • Wednesday
    7:30am-5:30pm
  • Thursday
    7:30am-5:30pm
  • Friday
    7:30am-5:30pm
  • Saturday
    7:30am-3:30pm
  • Sunday
    Closed

Contact Information

555 S Hwy 395
Hermiston, OR 97838
Phone: (877) 822-1997
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