Ways to Boost your Credit Score

Your credit score plays a huge role in your financial life, so it is important to keep it as high as possible. How high your credit score is will determine what kind of interest rate you can get on a loan, and it may play a role in insurance rates, whether you have to pay a deposit on an apartment or whether you get a job. Here are some ways you can improve your credit score.

Get a copy of your credit report and fix errors

What's on your credit report goes a long way toward determining your credit score, so you want to make sure all the information is correct. Get a copy of your report at least once a year -- you can do so for free -- and if you find any errors, request a correction in writing and provide any documentation you have to back up the fact that the information is in error.

Bring past-due accounts current and pay on time

One of the worst things when it comes to your credit score is to fall behind on your debt payments. You should always pay all your bills on time to begin with, but if you have fallen behind, bring your accounts current as fast as you can, which will improve your score within a few months.

Pay down debt
While late payments have the biggest effect on your credit score, carry too much debt can also hurt you in a big way. You want to keep your debt to 30 percent or less of your available credit. If you have a lot of debt, you might want to look into consolidating it onto one credit card with a lower interest rate, which can make it easier to pay off and save you money on finance charges.

See Credit Karma Credit Report for more information.