There are certain things in life that may require you to borrow some money, like buying a new car or purchasing a home. Whatever the reason might be, having a healthy credit score makes borrowing easier and less expensive.

• The amount you are able to borrow along with the interest it costs to borrow that amount depends on your credit score.
• Credit scores range from 300 to 850.
• A good score is anything over 700, resulting in lower interest rates and higher borrowing amounts.

If you’re looking to improve your credit score, there are several easy ways to do so. Just remember, improving your score can take time – try to accomplish one thing at a time:

1. Always make the minimum payment due on time. Creditors assess your payment history and if you pay your bills on time when determining your credit score. Sign up for automatic/electronic payments to avoid missing a payment.
2. Don’t max out your credit limits. Your credit utilization ratio how much credit you use compared to your credit limit is also factored into your credit score. Use less than 30% of your total credit limit- across all of your cards. If you use more, your credit score could be lowered.
3. Keep your credit lines active. The longer you’ve been paying on time the better, the length of your credit history can help improve your credit score. Instead of cancelling old credit cards, consider keeping them open and active, without using them every day. You could set up a small, monthly reoccurring charge that is easy to pay off each month.  
4. Choose your credit mix wisely. This is what types of credit you are using, installment (has an end date, like loans) or revolving (has no end date, like credit cards).
5. Be mindful of your credit inquiries. Your credit score monitors how often you are applying for new credit. Do your best to avoid applying for, or closing, several accounts in a short period of time. Doing so can lower your credit score.