Credit reports are more important now than ever before. The minimum score these days to purchase is a 620, and the higher a score you have, the better the rate you can get. Want a higher score or just want to get to 620? Give me a call and I'll be happy to evaluate your report with you for free. There are often times steps you can take to get your score up.
Everyone's credit report is different so I suggest you contact a professional before making any big steps. But for your reference, here is some general advice from my experience:
1. Always keep your credit card balances below half their limits.
2. Always have credit available to you in the form of revolving credit card accounts.
3. Always make every payment on time.
4. Whenever you have a bill, if you are able, pay it. A collection on a medical or utility bill can drop your score up to 60 points.
5. If you do end up with a collection on your credit report and it is recent, pay it and move on.
6. 3 times a year, look at your credit report at http://www.annualcreditreport.com and look at your tradelines. See anything that doesn't belong? Contact the creditor and work it out. It'll require getting written documents from the creditors and sending them to the credit bureaus (Equifax, Transunion, Experian)