Building Credit Rating

mallyonline

I'm about to purchase an AA membership (breakdown cover). I got thinking about how to pay - monthly or annually ?

If I pay monthly will this aid my credit rating with monthly updates? or should I just pay in one go for 12 months and save a little.

DCFC79

It will aid your credit history, the score is what you just see.

You pay it whichever way your comfortable with, if you have the money then pay it .

amfan

It makes no difference as they don't share information anyway!

I've not had car insurance with AA, but no car insurance provider I've used when paying monthly has ever reported to the CRA's. Now that I can, I choose the saving and a single payment every time.

mallyonline

amfan wrote: »

I've not had car insurance with AA.

My bad should have said it's for breakdown cover.

That's a good point though. If we failed to pay they would update the CRAs so in my humble opinion if there is any sort of credit at all then it should be on your credit file monthly. They have it all their own way so to speak.

Time for regulations to change.

Candyapple

mallyonline wrote: »

I'm about to purchase an AA membership (breakdown cover). I got thinking about how to pay - monthly or annually ?

If I pay monthly will this aid my credit rating with monthly updates? or should I just pay in one go for 12 months and save a little.

It won't help your credit history at all because you won't be paying by direct debit - you'll be paying by continuous payment authority which is payment taken from your debit card. You missed the little '1' asterisk besides monthly cover on AA's page.