Page 12 - AAA Now! – AAA Shelby County – March/April 2022

12
MARCH/APRIL 2022
FINANCIAL SERVICES
Are You Ready to Improve Your Credit?
Start with These Steps
AAA MEMBERS
SAVE WITH PENSKE
Choose Penske Truck Rental for your next move.
As one of the leading providers of one-way and local truck rentals in the United States and Canada, we make it easy for you to move your stuff and save money along the way.
Exclusive savings of 12% or more 877-AAA-7924 AAA.com/pensketruckrental
HAVE YOU HEARD?
AAA is more than just roadside assistance.
Show your AAA card at home and while traveling to save on every day and not-so-everyday items.
Getting a higher credit score doesn’t have to be complicated or confusing. Once you understand
how your credit score is calculated and, more importantly, how your daily decisions make it go up and down, you’ll be on your way to increasing your credit knowledge, confidence, and ultimately, your credit score.
But there’s no quick fix. Building and maintaining your credit score won’t happen overnight, but it will happen if you practice patience, take time
to expand your credit knowledge,
and stick to your plan for success. To increase your creditworthiness – a lender’s willingness to trust whether you will pay your debts, such as a credit card, auto loan, or mortgage – here are five steps you can take.
1. Learn what influences your credit score. Five major factors play a role in determining your credit score:
Credit Mix (the types of credit you have, such as credit cards, student loans, and car loans), Amounts Owed (how much of your available credit you are repaying), Credit Length (the age of your credit amounts), Payment History (your track record of making payments on time), and New Credit (how much new credit you are applying for).
2. Pay your bills on time. Even if it’s just a few days past the due date, late payments will hurt your credit score. To help avoid this situation, set up automatic payments with your bank or credit union and credit card company, so your payments are always on time.
3. Lower your credit utilization rate.
Using too much of your available credit can lower your credit score.
Continued on page 13
discounts.aaa.com
#AAADiscounts