Summer is a season of sunshine, travel, and relaxation, but it’s also a great time to check in on your financial health. One of the most important parts of your financial picture is your credit score. Whether you're planning a big purchase, applying for a loan, or just want to improve your financial standing, understanding your credit score is key.

Here’s what you need to know this summer to keep your credit in top shape.

What is a credit score?

Your credit score is a three-digit number that represents your creditworthiness. Essentially, how likely you are to repay borrowed money. Most scores range from  300 to 850, with higher scores indicating better credit.

Lenders use your credit score to decide whether to approve you for loans, credit cards, and even rental applications. A higher score can also mean better interest rates and terms.

What Affects Your Credit Score?

Your score is calculated based on several key factors:

1. Payment History – Do you pay your bills on time?
2. Amounts Owed – How much of your available credit are you using?
3. Length of Credit History – How long have your accounts been open?
4. Credit Mix – Do you have a variety of credit types (loans, cards, etc.)?
5. New Credit – Have you opened several new accounts recently?

Understanding these components can help you make smarter financial decisions all year long.

Why summer is a smart time to check your score

Summer often brings extra spending: vacations, events, and back-to-school shopping. If you’re using credit cards more frequently, it’s important to monitor your credit usage and ensure you’re not overextending yourself.

Use this time to:

• Check your credit report for errors or suspicious activity. 
• Pay down balances to lower your credit utilization.
• Set up payment reminders to avoid late payments during busy summer months.

Tips to boost your score

• Keep balances low on credit cards, aim for under 30% of your credit limit.
• Pay bills on time, every time. Even one missed payment can hurt your score.
• Avoid opening too many new accounts at once, which can lower your average account age.
• Don’t close old accounts unless necessary as they help build your credit history.

Stay informed with mobile tools

National Bank of Arizona offers free credit score access, monitoring alerts, personalized reports, and special offers through Mobile Banking. Take advantage of these tools to track your score, get alerts, and receive personalized tips for improvement.

Available for free to our clients, Credit Score Powered by Savvy Money gives you free credit monitoring and instant access to factors impacting your score with detailed recommendations.  

Final thoughts

Your credit score is more than just a number. It’s a powerful tool that can open doors to financial opportunities. By understanding how it works and taking a few simple steps this summer, you can keep your credit healthy and your financial future bright.

Need help reviewing your credit or planning your next financial move? We’re here to help. Schedule your financial wellness checkup today.