Panama City APC score: is it just for show?

Juridique & Finance il y a 2j 5 answers •

I've been analyzing my credit history and I don't get why the APC score seems to be a contradiction. I've paid off debts, made timely payments, and even paid off a car loan early. But when I tried to finance a new car, the bank told me I need to pay a higher interest rate because I changed jobs recently. Is this just a show, or is there something I'm missing?

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4 Answers · 1 reply

olivia • il y a 2j

That's why I prefer paying cash for everything, including my two cars. It's harder to save up, but at least I don't have to deal with the bank taking control of my money. When I went to buy a car, the seller tried to treat me like a dog, but when I said I was paying cash, they shut up.

Leandro Cardoso • il y a 2j

Of course, there needs to be an APC score, so that people who don't pay their debts don't get credit and those who do pay on time get better credit.

Yara • il y a 2j

Each bank has its own credit committee and policies, and verifying your credit history helps them predict your future behavior. The truth is, credit is more strict now than it was 10+ years ago.

Hugo Frias OP • il y a 2j

Yes, that's what I'm left with: they're more strict now. The first time I got a big loan, I was more unstable and had lower income than I do now.

Kieran L • il y a 1j

A crisis is looming, so consider keeping your old car for a few more years and avoid taking on debt if possible. Interest rates are rising, and it's not a fabrication.

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Panama City APC score: is it just for show?