The key factor in your credit score is your payment history. SAFCO reports to credit bureaus to assist with your FICO® Score. Setting up AutoPay is the simplest way to avoid late or missed payments.
We believe in your
potential to prosper. to prosper.
We provide financing to first-time buyers or individuals
with no credit history. From now on, on each payment you make
is a step towards a solid credit future.
And we want to help you
in your credit building journey.
Let’s start with the basics
01
What is
credit?
Credit reflects the ability to borrow money or access goods and services with the promise of repayment in the future.
02
What is a credit score?
A credit score is a numerical representation of a person’s creditworthiness, indicating how likely they are to pay their accounts and manage credit responsibly.
03
Why is a credit score so important?
A good credit score is used for more than just getting a credit card or a loan. It reflects your track record of responsibly repaying debts to lenders and accessing financing opportunities.
Navigate credit building with SAFCO
Start your credit journey
Even if you don’t qualify for traditional financing, SAFCO sees beyond credit to help you establish your score and kickstart your financial journey.
Cruise towards great credit
By setting up AutoPay, your payments are always made on time, avoiding late or missed payments and helping your credit monthly.
Track your progress
Monitor your credit journey in real-time with our free tool, and stay on the driver’s seat of your financial future.
You’ve arrived!
Congratulations! Your strengthened credit now qualifies you for traditional financing with better rates and terms.
Here are some good habits to help you
keep track of your credit scores
Pay your bills on time
Pay down your credit card balances
When applying for a credit, finance companies also consider your debt-to-credit ratio, this means how much debt you owe compared to your credit limit. That rate can account for up to 30% of your credit score.
Monitor your credit report
Every year, you can request a free credit report from each of the three bureaus. If you see something you wrong, dispute it with the appropriate credit bureau. Correcting a mistake can impact your credit score.
Apply for credit only when it’s neccesary
When you apply for credit, it shows up on your credit report. This means creditors are checking how reliable you are with borrowing money. These checks can lower your score temporarily, especially if there are a lot of them close together, which might look like you’re looking for quick money that you can’t pay back.
Protect your personal information from fraud
Identity theft can harm your credit. Thieves may open accounts in your name. Protect yourself by using unique passwords and avoiding financial transactions on public Wi-Fi.
Create a budget and stick with it
Seeing your actual monthly expenses can be eye-opening. A budget helps manage what you spend in relation to what you make, keeping you on track for financial goals and better credit.
Avoid credit repair scams
You can't pay to remove accurate credit report information. Instead, use your money to pay bills on time, reduce credit card balances, and seek credit assistance through other channels.
Add information to your credit report.
You can't add info to your credit report, but free or paid programs can report payment history for rent and utilities, boosting your credit by showing responsibility, great for those with limited credit history.
