388 King George Rd, Brantford, ON, N3T 5L8
My Garage

Why You Should Check Credit Score Regularly In Delhi

Why You Should Check Credit Score Regularly In Delhi

Your credit score plays a pivotal role in your financial wellbeing and will help determine whether you can get that credit card or car loan you’re looking for. As it’s such an important part of life, we recommend checking it regularly. Our Delhi car loan team has provided 4 good reasons why everyone should regularly check their credit score.

 

1.   It’s free and easy

 

The first and most obvious reason to check your credit score is because it’s free and easy. You’re entitled to one free check per credit bureau per year. Check it with TransUnion or Equifax and you’ll quickly be able to see your score and your whole credit report.

 

Other financial products can also provide access to your credit report. Financial protection products, credit card insurance and other types of financial product can include your credit report as part of the package.

 

2.   You’ll always know your score

 

We consider it important to always know roughly where you are in terms of financial standing. Even if you have no intention of taking out a car loan or using credit, you never know what’s round the corner.

 

If something does come up or you do want a car loan, you’ll already have a good idea of whether you could get one or not.

 

3.   Check for errors or identity theft

 

Checking your credit score regularly will usually mean viewing your whole credit report, which is the perfect opportunity to check it for errors, omissions and evidence of identity theft.

 

Even if you’re not planning a car loan or any borrowing, making sure your credit report is 100% accurate will ensure it’s ready for when you are.

 

Plus, identifying and stopping identity theft can save a lot of paperwork later. You may never know you have been a victim of identity theft until it’s too late. Keeping an eye on your credit score can alert you earlier than you otherwise might be. You can then take fast action to stop any further damage.

 

4.   Helps you improve your credit

 

Checking your credit score gives you the time to rebuild credit ahead of a credit card or car loan application. Improving credit takes time and if you leave it until the last minute, you won’t have that time.

 

Check your score and take action well ahead of time and any improvements will surely help any car loan application in the future.

 

It can take a minimum of 18 months to repair bad credit, so the earlier you know you have work to do, the better. While you’ll still be able to access car loans with bad credit, if you can avoid paying higher interest, you’ll be much better off!

 

Those are just four reasons we could think of to keep an eye on your credit score. We’re sure you can think of others!

 

When you’re ready for a car lease or loan, get in touch with the Delhi auto loan experts at Northway Ford for great deals on auto finance.

 

Be sure to connect with us on Facebook, Twitter, Instagram, or LinkedIn to stay up to date on our latest great articles!

Categories: Car Loan

Tags: ,