12 Tips for Improving Your Credit Score

Good credit is the key to receiving the best interest rates.

Never Too Late to Improve Your Score - Not all of us have picture perfect credit, but it's never too late to improve your score. Good credit is the key to receiving the best credit card, car loan or mortgage with the best interest rates. Take a look 12 ways to keep your score tight, so you’ll be able to acquire the finer things in life. - Natelege Whaley 

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Never Too Late to Improve Your Score - Not all of us have picture perfect credit, but it's never too late to improve your score. Good credit is the key to receiving the best credit card, car loan or mortgage with the best interest rates. Take a look 12 ways to keep your score tight, so you’ll be able to acquire the finer things in life. - Natelege Whaley 

Pull Your Own Credit Report - Visit AnnualCreditReport.com to obtain a free copy of your credit report. The site is run by the three largest credit reporting agencies in the U.S. and offers free annual credit reports, as required by federal law.(Photo: Courtesy of AnnualCreditReport.com)

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Check Your Credit Report - Log on to AnnualCreditReport.com to access a free copy of your credit report. The site is authorized by the FTC. CreditKarma.com also gives you access to your score with no hidden costs or obligations.(Photo: Courtesy of AnnualCreditReport.com)

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Review Your Score - Financial experts suggest that you check your report periodically to be sure that all the information is accurate. If any information is false or you suspect identity theft, report it immediately to the credit bureau.(Photo:SpiffyJ/Getty Images)

Once I Join a League, How Do I Choose a Team? - Like the real NFL, there is a draft and the person who gets first pick is typically chosen via a lottery. You can be creative, but standard teams typically have 12 players of various positions and a pointing system with the most points going to the quarterback plays. It is imperative to know the stats of your players to earn the most points based on performance.(Photo: Comstock Images/Getty Images)

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Correct Errors - Report the discrepancy and request that it be removed in a dispute letter to the credit reporting company. Compile supporting documents. Find an outline of what you should include in your letter here.  (Photo: Comstock Images/Getty Images)

What Are the Drawbacks? - One word: fees. People who use prepaid cards can be charged for transactions that would usually be free at traditional banks. They could be charged a fee to withdraw cash from an ATM, even if the ATM is in their card's network. There might be a fee to set up online bill payments or a fee to reload the card. There are often limits on the amount of money that users can put onto one card. Charges can vary greatly among cards so people should shop around.While many prepaid card issuers provide protection if a card is lost, they are under no legal obligation to do so.The FDIC insures up to $250,000 of a customer's account if a traditional bank goes out of business. There's no such guarantee with a prepaid card. Generally, card issuers use what's known as a "custodian bank" to insure their users' accounts, but it's not like a bank where...

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Create A Payment Plan - Once you view your credit report, reality may set in and if you need to make changes, it’s best to come up with a timeline to pay down debt. This credit card minimum payment calculator can help you see how long this may take. (Photo: Chemistry/Getty Images)

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Money Matters - While you’re in the cleaning spirit, you may want to do a little financial fixing as well. Start by evaluating your debt, expenses and budget with the help of Mint.com, a financial app that keeps your money matters in one place. It’s free, super easy and low maintenance. (Photo: JGI/Jamie Grill/Getty Images)

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Plan to Keep Debt Down - Once a plan is made to pay down debt, keep it down. There is the limit a creditor gives you, but set a much lower debt limit for yourself. Aim to keep balances below a third of the total available on the card. Do not overextend yourself. (Photo: JGI/Jamie Grill/Getty Images)

What Are They? - Prepaid debit cards are typically used by people who don't want, or can't qualify for a traditional banking account. Individuals add money to their prepaid cards, and because the cards are usually tied to payment networks like Visa, MasterCard or American Express, those people can use them for day-to-day spending. People also can have paychecks directly deposited to the cards, which allow money to be added over and over. In 2003, American consumers put less than $1 billion on prepaid cards. By 2012, that amount ballooned to $65 billion. By the end of 2014, the CFPB expects consumers to put nearly $100 billion on prepaid cards. (Photo: Joe Raedle/Getty Images)

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Set Up Payment Reminders - Keeping up with your debt is possible, if you set reminders for your bill due dates. Paying on time and before the deadline will improve your score gradually. Also some creditors allow you to schedule payments in advance on-line. Take advantage of this feature. (Photo: Joe Raedle/Getty Images)

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Don’t Apply for Credit Needlessly - Every inquiry or "hit" on your credit report alerts other lenders that you are looking around for money, so try to avoid filling out too many applications at once.(Photo: Tetra Images/Getty images)

Lower Your Credit Card Interest Rate - Lowering your interest rate on your credit cards can be as easy as a nice demeanor and a phone call. If you have a $5,000 balance, even a 3 percent rate reduction saves you $150 a year. (Photo: Fuse/Getty Images)

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Quick Fixes Are Trouble - Some companies may promise to "fix your credit in 30 days!" but just like losing weight building good credit takes time. These quick fixes may end up costing you more money. Follow the slow and steady route and over time as listed above. (Photo: Fuse/Getty Images)

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Pay Down Lowest Credit Card Balances First - Starting with the lowest balances first, is more effective in paying off overall debt, a study by the Northwestern University's Kellogg School of Management found.(Photo:Stelios Varias/Reuters)

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What to Know Before Closing Accounts - Pay down a balance in full or opt to do a balance transfer to another card if you find one with better terms. Then inform a representative of the creditor of the cancelation over the phone. Also send them contact information for a person you can send a cancellation note to. Be mindful, closing credit card accounts with high limits can hurt your score. (Photo: Ferran Traite Soler/Getty Images)

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Reach Out to A Credit Counselor - If you have an extreme case of debt and need further assistance, find a credit counselor to assist you. The Department of Justice provides a list of approved credit counseling agencies by state. (Photo: PhotoAlto/Frederic Cirou/Getty Images)

Get Busy - You probably have a lot of time on your hands; fill it with a hobby that you’ve always wanted to try, like making jewelry or learning to play tennis. You’ll have something to keep you busy and you’ll have something new to share with your cutie. (Photo: Hero Images/Getty Images)

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Be Patient and Consistent - Your credit history does take time to rebuild. Keep in mind that credit inquiries remain on your report for two years. Delinquencies (repetitive late payments) remain for seven years and bankruptcies remain for ten years. But once you acquire these good habits, your score will gradually improve. (Photo: Hero Images/Getty Images)