Several factors go into determining your credit score, and they all have various levels of impact. Any debt and lines of credit you have go into your credit score, as well as your payment history, the length of your credit history, and a few others.
According to FICO, the leading credit score calculator, payment history is the biggest factor in how your credit score is determined. If you make loan payments and pay your bills on time, you'll have a much better chance of qualifying for a loan than if you're consistently behind on payments.
The second biggest factor is how much money you owe. Having several different sources of debt, such as a mortgage, auto loan, and student loans, can lower your chances of getting a loan. However, it certainly won't disqualify you from getting a loan, since having a high enough income to manage your payments is beneficial.
The older you are and the longer you've been building credit, the more banks will trust you to make your payments on time. This also goes for how long you've worked at a certain job-they trust you'll keep the job more if you've been there a long time.
For more information on credit scores, don't hesitate to contact us today at Paul Obaugh Ford!

Contact
Paul Obaugh Ford
13 Lee Jackson Hwy.
Staunton, VA 24401
- Sales: (540) 851-4800
- Service: (540) 851-4800
- Parts: (540) 851-4800
Hours
- Monday 8:30am-6pm
- Tuesday 8:30am-6pm
- Wednesday 8:30am-6pm
- Thursday 8:30am-6pm
- Friday 8:30am-6pm
- Saturday 9am-5pm
- Sunday Closed
Dealership Hours
- Monday 8:30am-6pm
- Tuesday 8:30am-6pm
- Wednesday 8:30am-6pm
- Thursday 8:30am-6pm
- Friday 8:30am-6pm
- Saturday 9am-5pm
- Sunday Closed
Parts Dept. Hours
- Monday 8:00AM - 5:30PM
- Tuesday 8:00AM - 5:30PM
- Wednesday 8:00AM - 5:30PM
- Thursday 8:00AM - 5:30PM
- Friday 8:00AM - 5:30PM
- Saturday Closed
- Sunday Closed
Service Dept. Hours
- Monday 8am-5:30pm
- Tuesday 8am-5:30pm
- Wednesday 8am-5:30pm
- Thursday 8am-5:30pm
- Friday 8am-5:30pm
- Saturday Closed
- Sunday Closed