Understanding credit and the things that influence your credit, both positively and negatively, can be confusing. There are a few things lenders and landlords look at when they look at your credit report, but mainly they want to see your credit score. Your credit score is affected by anything on your credit from present day up to seven years back. One exception to this rule is filing for bankruptcy, which stays on your credit report for ten years. Your Credit Score Whenever you sign a contract to pay for a service, that company will report to the credit bureau about your payment actions. Whether it be your mobile phone provider, home loan bank or credit card provider; if you pay these bills on time each month, your credit score will rise. Unfortunately, if you do not pay these companies on time or at all, your credit score will fall. Ultimately, your credit score is based on the amount of money you owe, which accounts have gone to default and sent to a collection agency, how many dollars in credit you have at your disposal (credit cards), and if you’ve ever filed bankruptcy or had a repossession. It is very important to know what your credit score is and what you can do to improve it. If you pay all your bills on time and have hundreds to thousands of dollars available to you on a credit card or any credit line, then you should have good credit. If, like millions of people in the US, you have made some past mistakes with paying bills late or not paying them at all, you may have a low credit score. Benefits Of Good Credit When you go apply for a personal, auto or home loan, if you have good credit, you will pay less in interest. Also, rental landlords check credit to make sure you have a history of paying your bills on time. Ultimately, keeping an eye on your credit and taking steps to improve it, will save you a lot of money in the end. Buying a Car With Good or Bad Credit Fortunately for all, it doesn’t matter what kind of credit you have at the Burlington Used Car Superstore. We approve everyone, no matter your credit score, and fight to get you the best interest rate possible. We strive to save you every dollar, even if you have very poor credit, bankruptcies or repossessions on your credit report. We can help you understand your credit better and show you the best ways to raise your credit score if you need.