Here are 5 things you can do to build up your credit score:

  1. Pay your bills on time.
  2. Use less than thirty percent of your total available credit. An example would be if you have the $1000 of available credit, you should never have more than $300 of credit on your cards.
  3. Don’t have too many open lines of credit available (having several open lines of credit, even if not all of them are in use, will raise red flags from potential lenders.)
  4. Have a good balance of credit (installment loans — like a car loan — and credit cards versus just credit cards.)
  5. Check your credit report regularly (once every 3 months) to ensure that accurate information is being reported. Log on to www.annualcreditreport.com to download your free reports (one free from each of the 3 credit reporting bureaus each year.