Low Credit Score? Modesto Auto Title Loans Is Here To Help!

July 7, 2018


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Why Did My Credit Score Go Down?


Yikes! Did you just check your credit score and it was lower than what you expected? Maybe you suspect it was because you paid your credit card bill late or for any number of unknown reasons. Modesto Auto Title Loans is here to help you find out why. Here are some common reasons for why your credit score can go down.

1. Your Credit Utilization Went UpModesto Auto Title Loans. Credit Card

Credit utilization is a number measuring how much you have been using your credit in proportion to your overall available credit. This ratio is divvied out by taking all your total balances then dividing it by your total amount of credit limits. Then, you multiply that number by 100. This will give you a certain percentage and most financial experts recommend keeping this ratio percentage above 30%. If your credit score dropped, it is likely due to your utilization ratio going up. Be cautious of your credit use and keep track of your credit limits.


2. You Recently Paid Off Your Loan

As strange as this may seem, your credit score can fall when you pay off student loans, car loans, or even your mortgage payment. Why? Your FICO score is primarily calculated by a mixture of different factors, which includes active installment loans. Installment loans are a type of credit that is paid in increments, i.e. your student loan or car payment. It is extremely important to pay off your loans, so be aware that it is normal if your credit score drops because of eliminated debt. One way to pull your score back up is to settle another credit card balance or pay your credit card bills on time.


3. Late Payments

The most obvious reason for a lowered credit score would be because of late payments to your bills. Your payment history plays a generous role and accounts for about 35% of your credit score. When your payment is more than 60 to 90 days late, your creditors will note this and your credit score will take a dive. Although your credit score will be lowered temporarily, don’t let this become a repeated occurrence. Set up an alert for yourself to schedule when your bills are due and make your payments on time.


Modesto Auto Title Loans. Girl with money and loan approved

Do you have poor credit but need a loan to help pay things off? Even with a poor credit score, Modesto Auto Title Loans can approve your loan application. Call us today at 855-303-CASH (2274) to speak to one of our loan agents. We can get your application approved in just 15 minutes! You can also visit us in person at one of our local offices, or start your online application process.


Modesto Auto Title Loans Is Happy To Help The Community Of Modesto!


The city of Modesto is located in Stanislaus County in Central California. In 2010, the Census recorded that the city had a population of around 312,842. Modesto was originally a railway stop on the line from Los Angeles to Sacramento. The city was founded in 1870 and was meant to be named after William C. Ralston, who requested that the name be changed. As a result, the city was called Modesto as an homage to Ralston’s modesty. The city’s official motto is “Water, Wealth, Contentment, Health.”


Modesto features many tourist attractions and sights such as the McHenry Mansion, the Gallo Center For The Arts, and downtown Modesto. The McHenry Mansion, the home of banker and rancher Robert McHenry, is 

Modesto Auto Title Loans. Classic Red Car.

specifically recognized on the National Register of Historic Places. The city is also home to Gallo Family Winery, which is the largest privately owned winery in the world. Many notable people have come from Modesto, such as George Lucas, Timothy Olyphant, Jeremy Renner, and J.P. Howell. George Lucas famously referenced the city’s 1960s cruising culture in his film American Graffiti. Because of the film, Modesto now hosts an annual seasonal event called Summers In Modesto to celebrate the city’s cruising and antique car culture.


Modesto Auto Title Loans is proud to serve the city of Modesto! Call us today at 855-303-CASH (2274) to speak to one of our loan agents! You can also visit us in person at one of our local offices, or start your online application process!

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