Credit Scoring is a mathematical formula that generates your bill payment history and general financial habits into a tidy package used by lenders to help decide how worthy you are of a loan and how much it will cost.

Get a credit card with a high limit, keep the balance low and use the credit card to establish a credit history or boost a low credit score. Remember — the more available credit on a credit card, the better.

Borrowing money today requires impressing an increasingly hard-to-please crowd. With creditors of all kinds more cautious than ever, you need an A+ application to land the best terms — and that means an A+ credit score, the number lenders use to judge your risk of default.

Having more than one credit account can boost your credit score. If possible, strive for at least three good accounts.

Keep in mind that changes in your FICO score take a long time to occur but if you live by the following guidelines, your credit score will improve over time.