Create Some Balance: While paying down installment debt (car, school etc) will definitely boost your credit score, paying down or paying off revolving debt, such as credit cards will give you much more “bang for your buck”. The trick is to get and keep your balances below 30% of your credit limit on each card. For faster results, attack those cards with balances closer to their respective credit limits first, as opposed to those cards with simply the highest debt. Remember, if you pay off any credit cards completely; do not close your accounts. Canceling those cards may inadvertently undo all of your hard work.

Know Your Limits: Make sure that your credit card issuers are reporting the correct limits on your accounts to the major credit bureaus. Without an available limit, your account will appear to be maxed out at its highest reported balance each month. This could cost you up to 80 points in certain instances. Some creditors, such as American Express® and certain cards issued by Capital One®, actually have a policy of not reporting available credit. However, most companies will report your credit limits if you ask them in writing.

Take Some Credit: If you have a credit card account in very good standing, make sure that all three credit bureaus know about it. Just like your credit limits, some creditors don’t report your information to all three credit companies – this is why credit scores often vary between bureaus. If this is the case, give them a call to find out why. Correcting this oversight could provide a significant boost to your score. Also, if you’re in very good standing, ask your creditor for a lower rate or higher credit limit. This will increase the gap in the debt you owe versus the credit you have available. Sometimes hinting about closing an account can suddenly bring out the generous spirit of certain card issuers. Give it a try. The worst they can say is no.

Protect Your Interests: Your credit score is calculated solely on the information provided by your creditors. If you have a HELOC, make sure it’s listed as a mortgage or an installment account on your credit reports and not a revolving debt. If they are misreporting your credit score will suffer because of it. If you have past credit problems, like a bankruptcy, make sure all items associated with the bankruptcy are being reported correctly, that is with zero balance. This action could increase your score by 50-100 points. Simple mistakes or errors in reporting can wreak havoc on the credit score of someone looking to own their first home, it’s important to make sure all accounts are reported correctly.

Even the Score: If you find information on your credit report that you believe is inaccurate or incomplete, then you have the right to dispute free of charge. For the fastest results, visit the appropriate credit bureau’s website and file a complaint online. If supporting documents are necessary, you have to file your dispute by mail.