Does Aaron's Report to Credit Bureaus?

Yes, Aaron's reports payment activity for its lease-to-own agreements to the credit bureaus. This reporting includes your payment history, which can help build your credit when paid on time. For specifics on your account, contacting Aaron's support is recommended as reporting practices can vary.

• Account Opening: A new lease agreement is reported, establishing the account on your credit file.
• Payment History: On-time and late payments are reported monthly, typically after your statement closing date.
• Late Payments: Payments over 30 days past due are reported as delinquent, negatively impacting your score.
• Account Closure: Paying off your lease in full and closing the account is reported as a positive event.

Who Does Aaron's Report Credit Information to?

Aaron's reports your payment activity to the three major credit bureaus:

• Experian
• Equifax
• TransUnion

When does Aaron's Report to Credit Bureaus?

There isn't a universal schedule or a specific day of the month when Aaron's sends updates to the credit bureaus. Instead, reporting is tied to the activity on your individual account. Events like opening your lease agreement, your payment history, or closing out your account can all act as triggers for a report. This means the timing can vary significantly from one person to the next, depending entirely on their unique account circumstances.

How Reporting Can Affect Your Credit Score

Positive impact

• Making consistent, on-time payments can build a positive payment history, which is the most significant factor in calculating your credit scores.
• A lease agreement adds to your credit mix, potentially boosting your score if you have few other types of credit accounts open.

Potential negatives

• Any missed or late payments will be reported to the credit bureaus, which can significantly damage your payment history and lower your score.
• Opening a new account slightly reduces the average age of your credit history, which can cause a small, temporary dip in your score.

Tips for Managing Credit with Aaron's

Here are several actionable tips to help you effectively manage your lease agreement and build a positive payment history with Aaron's:

• Always make your payments on time. This is the most significant factor in building a positive payment history and improving your overall credit standing with any creditor.
• Carefully review your lease agreement. Knowing your payment schedule, total cost, and any late fees will help you stay on track and avoid unexpected financial surprises.
• Consider setting up automatic payments through your bank or Aaron's online portal. This simple step helps ensure you never miss a payment due date.
• If you're facing financial hardship, contact Aaron's immediately. They may offer solutions to help you manage your payments and avoid negative credit reporting.
• Incorporate your Aaron's payment into your monthly budget. Planning for this expense helps ensure you have the funds available when your payment is due.

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