In this day and age, credit scores are important, more than ever!
What's the fastest way to improve a credit score?
1. Keep your credit usuage LOWER than your actual credit limit.
What does that mean? If you have a charge card that has a $5,000 limit, try to keep your balance under $1,000, do not use the maximum of $5,000 or even go close to that. The reason this is so important, it shows a "sense of money management", able to control spending.
2. Make payments on time.
Just one late payment will lower your credit score and will likely remain on your credit report for years. A late payment showing on a credit report doesn't drop off after a year, like many people falsely believe. It is very important to make payments on time, do not be late. Set up payment reminders or set up automatic payments to avoid "forgetting" to make a payment.
Remember, it's never too late to fix what's broken. Experian, Transunion and Equifax are the big 3 players that submit credit scores to what's known as a FICO Report. Lenders use this FICO report when reviewing credit and lending of money, much like a report card. Take payments made to creditors seriously, do not be late. Do not over extend debts where your credit portfolio looks to be questionable.
Your credit report should be reviewed yearly, since the data used may have errors.