How Credit Affects Your APR

Credit scores have become much more than a number. Your credit score can be used as a measure for everything from a loan to being eligible for a job.

Your credit score isn't a direct reflection of you as a person. Having a high credit score doesn't make you a better person, just a better risk for a lender. At the same time having a low credit score doesn't make you a "bad person". Most Americans have inaccurate data on their credit history.

Lending guidelines require a certain score to begin the process.

Things that dictate your score:

• How you paid your previous debts
• How much you still owe to other creditors
• How long you have had credit (length of credit history)
• Number of bankruptcies, charge-offs, and collections
• How much credit you currently have extended to you.

Your score is used to measure the likelihood of the loan being paid in full. The higher the score the higher the chances the loan will never be late, paid in full, and no missed payments. The lower the score the higher the risk your debt load may become unmanageable and cause the loan to "go bad".

Regent Financial Group now offers a FREE credit analysis to see where your credit may need some attention.

Read more about it in the "Credit Analysis" section of our site or contact one of our loan officers today.