Any information that is inaccurate should be corrected so that potential creditors, employers, insurance companies and other organizations see an accurate picture of our credit profile when they request copies of our personal credit reports.

In order to improve your credit score, it’s always the same formula — you need to make on-time payments, reduce debt, increase credit lines and use plenty of diversity in your credit profile. Additionally, it will help significantly to keep old lines of credit open.

There are a wide variety of myths floating around about what you should and shouldn’t do to improve your credit reports and credit scores.

Your credit score is used by lenders to determine if you can get a mortgage loan and what interest rate they will charge you.  It is also used to obtain a car loan, cell phone contract –- even employers and landlords check it!  This is a precious 3 digit number you should try your best to protect.