Credit Score Factors

If you're looking to get approved for a new or used car but are wondering about your credit score, you're in luck. Union City Chrysler Dodge Jeep Ram FIAT wants to help you make the best financial decision for your budget. There several key factors impacting your credit score, and we want to make sure you have all the information you need to make an informed decision. 

Our finance team is knowledgeable and ready to assist you today. We want to show you all the factors affecting your score to help get you the best offers for your situation. Whether you have good credit, bad credit, or no credit, continue reading to learn more about factors impacting your credit score and how the experts at Union City Chrysler Dodge Jeep Ram FIAT can help you get the vehicle you want within your budget.

1.) Payment History

When determining credit scores, credit bureaus look at five key factors. The first and most important factor impacting your score is your payment history. Creditors want to know that you are responsible and can be trusted to make your payments in full and on time. Payment history is 35% of your score and is key when determining which auto loans you can get. 

By making sure there are no negative marks on your credit score like bankruptcies, collections, charge-offs, repossessions, and foreclosures, you show lenders that you are trustworthy and makes you more likely to get a low-interest loan.

2.) Debt Level

The next factor is your debt level. By keeping your debts under 30% of your overall credit limit, you show that you are a responsible spender and that you only use what you need. Having a high debt limit is a reg flag for lenders and could drastically lower your score. Keeping your debt level low represents 30% of your overall credit score and is a great way to make sure you get approved for a great rate.

3.) Age of Credit

Another factor that lenders consider is the age of your credit history. Customers with relatively short credit histories are considered riskier than those with longer and more established credit histories. Constantly opening new accounts can lower your average credit history and thus lower your score. Keeping your older lines of credit open and paid off shows lenders you are responsible with credit. This factor is 15% of your credit score.

4.) Types of Credit

It is also important to have multiple types of credit on your report as well. By having mixed lines of credit, including revolving accounts and installment loans, you show that you have experience managing your finances. Having loans for assets like your house or having student and personal loans is a great way to show that you are able to manage multiple types of loans. This factor is 10% of your overall score.

5.) Credit Inquiries

CreditLastly, customers should be aware of their number of credit inquires. As mentioned above, when you apply for multiple lines of credit too frequently, you can hurt your credit score and you are seen as a risk to lenders. Credit inquiries stay on your report for up to 24 months, and keeping your credit inquiries is a great way to keep your score high. This factor is also 10% of your overall score.

Visit Union City Chrysler Dodge Jeep Ram FIAT for More Information

To learn more about how your credit score and our available finance offers, make your way to Union City Chrysler Dodge Jeep Ram FIAT. Our in-house finance center is available and ready to help you get the financing you need today. Whether you're looking to lease or buy, or goal is to get you the auto loans and leasing offers you need within your price range. 

We are committed to providing outstanding customer support while getting you the financing you need during your next visit. Whether you're in the market for a new Dodge Charger, Dodge Durango, Jeep Wrangler, Jeep Grand Cherokee, Ram 1500, or Chrysler 300, we want to find you the best auto loans available.


Union City Chrysler Dodge Jeep Ram FIAT

3950 Jonesboro Rd
Directions Union City, GA 30291-2258

  • Sales: (770) 288-5663
  • Service: 770-676-1305
  • Parts: 770-239-6325


  • Monday 09:00AM - 08:00PM
  • Tuesday 09:00AM - 08:00PM
  • Wednesday 09:00AM - 08:00PM
  • Thursday 09:00AM - 08:00PM
  • Friday 09:00AM - 08:00PM
  • Saturday 09:00AM - 06:00PM
  • Sunday Closed
  1. Union City Chrysler Dodge Jeep Ram FIAT

    3950 Jonesboro Rd
    Union City, GA 30291-2258

    • Sales: (770) 288-5663
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