Want To Know What Credit History Is All About?

Daniel Joelson

Daniel Joelson

Total Posts: 579

Published Date: February 11, 2023

Daniel Joelson has been in the consumer finance space since 1994, he has helped to develop underwriting manuals for the financial sector. With a vast amount of Knowledge in consumer finance, he has been writing articles for all types of loans. With his knowledge, he is able to help many people to answer different financial problems.

What is Credit History

Most of us have come across the keyword credit history, credit score, and financial record, particularly when applying for title loans in Indiana.

Choosing these financial options help in a great way from getting instant cash to Title Loan Refinance benefit. Coming to the point, what is credit history? Keep reading and get the answer.

Defining Credit History

Credit History tells the information about the debt you are carrying, the ones paid, or having any pending bills around the corner. One of the greatest perks of choosing title loans is that you won’t have to worry about credit scores.

credit history
Credit history

Does Credit Score Help Lenders?

A few lenders present out there consider the credit history to know whether the client is reliable or not. Moreover, a person with great credit scores gets easy access to credit cards. This helps them to secure their mortgage or meet other financial requirements. In addition, they won’t charge high interest whereas people with Bad Credit do not get quick approval when choosing traditional loans. This is where opting out for title loans in Indiana will assist in getting fast cash without waiting for days.

What does a credit report mean?

A credit report has detailed info about the particular client and helps the lender in knowing the past financial history. The report covers the following aspects:

  • Employment
  • How credit cards are utilized from making payments to buying commodities
  • Credit Rejection
  • Public Records

You can get the credit report without paying any additional cost. Moreover, you need to visit the Credit Bureau to request one. The credit bureau gets the information from the creditors. In addition, the suggestion is to get a credit report for knowing how to fix the faults, overcome bad credit scores, and prevent defaulting on the loan.

How are credit scores determined?

First things first, Title Loans In Indiana follow an easy process and do not charge any hidden fees. Moreover, coming back to the point, the credit scores are decided by the FICO. This credit score model predicts whether you can repay the taken debt, and on the basis generates the credit ratings.

The main aspect of FICO models goes as:

  • Payment Details having 35%
  • Pending Amounts, leftover debt making 30%
  • The time you are utilizing the taken credit, 15%
  • Credit Mix and different accounts you have goes 10% 
  • A new credit account is an open go for the remaining 10%

A good credit score begins in the 600s.

Final Words

Credit Reports carry all the information related to the financial record of the individual. Moreover, the suggestion is to get your latest credit analysis from the leading credit bureaus to avoid any complications. With a good credit score, chances are higher to get approval on credit cards charging the lowest interest rates.

Besides, the great news is that choosing Title Loans in Indiana does not go with your credit scores. People with bad credit can apply for title loans and avail of all the benefits.

When you contact us, we can help you no matter what your credit history is, we will approve you on your vehicle equity.

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Disclosures

DISCLAIMER: As our policy to make sure you know what we do and what are our limitations, we offer you these disclaimers. We are NOT A LENDER and we do not make short term cash loans or credit decisions. We are a referral service and work only with licensed lenders/brokers.

We may act as the broker for the loan and may not be the direct lender. Loan proceeds are intended primarily for personal, family and household purposes. We do not offer or service student loans.

*Loan amounts by the lenders vary based on your vehicle and your ability to repay the loan.

*Since we do not lend money directly we cannot offer you a solicitation for a loan, except in the state of California. In all other serviced states we WILL match you with a lender based on the information you provide on this website. We will not charge you for this service and our service is not available in all states. States that are serviced by this Web Site may change from time to time and without notice. Personal Unsecured Loans and Auto Title Loans are not available in all states and all areas.

*Auto Title Loan companies typically do not have pre-payment penalties, but we cannot guarantee that every lender meets this standard. Small Business Loans typically do have pre-payment penalties and occasionally will use your car as collateral to secure the loan.

*All lenders are responsible for their own interest rates and payment terms. TFC Title Loans has no control over these rates or payments. Use of the work competitive or reasonable does not mean affordable and borrowers should use their own discretion when working directly with the lender.

*The amount of people who applied for a loan and we helped and those who received a loan is not the same. We cannot guarantee we will find a lender who will fund you.Just because you give us information on this web site, in no way do we guarantee you will be approved for a car title loan or any other type of loan. Not all lenders can provide loan amounts you may see on this web site because loan amounts are limited by state law and/or the lender. Some lenders may require you to use a GPS locator device on your car, active all the time. They may or may not pay for this or charge you for this. This is up to the lender and we have no control over this policy of the lender. Typically larger loans or higher risk loans use a GPS.

*In some circumstances faxing may be required. Use of your cell phone to receive updates is optional.

*Car Title Loans are expensive and you may have other ways to get funding that is less expensive. These types of loans are meant to provide you with short term financing to solve immediate cash needs and should not be considered a long term solution. Residents of some states may not be eligible for a loan. Rejections for loans are not disclosed to our firm and you may want to contact the lender directly.

*Car Title Loan lenders are usually licensed by the State in which you reside. You should consult directly with these regulatory agencies to make sure your lender is licensed and in compliance. These agencies are there to protect you and we advise making sure any lender you receive money from is fully licensed.

*Trading Financial Credit, LLC dba TFC Title Loans, Car Title Loans California, Dineromax. If you are using a screen reader and are having problems using this website, please give us a call at 1-844-242-3543 for immediate assistance.

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