A question that we hear often enough here at DreamCatcher Financing centres on information regarding credit checks. Most people want to know how they are done and what implications, if any, they may have on those who are applying for approval.
The good news here comes in two-fold.
First and foremost, the process is uniform across the board, whether you’re applying for a mortgage and a bank or a lender is interested in reviewing your credit score, or you’re looking for a loan in another industry.
The second component of a credit check is a retrospective look at your credit history. When an organization inquires about your financial history they will receive information that includes your credit score.
For those who are unaware, a credit score is a range from 300 and goes up to 900 potential points. Major financial institutions regard an ideal score to be approximately 650 or above, with the higher the number the better.
Applicants who happen to have lower scores there will definitely be an added level of apprehension from traditional lenders to offer loan opportunities, or, if they are done they will be done in a more aggressive fashion. This is what makes working with DreamCatcher Financing the ideal situation. Less stress and more results regardless of credit score.
Why Do You Need to Check My Credit Score?
While it may come as a surprise, there are certainly people out there curious as to why a financial lender would be interested in their personal financing information.
Again, it’s quite simple: in order to receive the A-OK on your application for a car loan DreamCatcher Financing needs to review your credit score to determine how much we will be approving you for.
Don’t Worry, Though – You’re Practically Approved!
When you work with DreamCatcher Financing we aren’t worried so much about the rating on your credit score as we are interested in assuring you that your situation will allow you to rebuild your credit. What we mean by this is that when you apply for approval we want to be certain that you won’t be damaging your credit by taking on too much debt.
We want you to look at your loan and know, without a shadow of a doubt, that you’ll be able to pay it back in the appropriate intervals without worry.
After all, if you happen to be one of those who has a poor or bad credit rating the best part about a new loan is that if you keep to the pre-determined payment schedule you will be directly influencing a positive change.
You read that right – having a loan and paying it back can and will improve your credit score.
99% of Those Who Apply with DreamCatcher Financing are Approved!
DreamCatcher Financing’s team is here to ensure that you are treated like an individual, not a number, and that your situation is reviewed carefully and considerately. Our team isn’t here to hound you about your previous experiences – far from it! We’re here to provide solid feedback and information to get you approved for a loan and, in turn, get you back on the road in a vehicle that works for you and your budget.
We like to look at ourselves as a solution for all drivers because we know what we’re doing and see our success in your success.
If you have any questions about our fantastic services, please feel free to reach out to us at through our online form or by phone at 1-800-910-6402. We look forward to assisting you!