The credit score (FICO) score is a number based on the information of your credit profile to show how likely you are going to pay a loan back on time. Obviously, the higher the better. The score can be in between 300 to 850. The higher score you get a better interest rate. What is a good credit score made of? The 35% score is made of the payment history, 30% amount owed and 15% is the length of the history. To start this process, you need to know your credit score.
You may obtain one free copy of your credit report annually. Try the following links: www.annualcreditreport.com or http://www.freecreditreport.com/
or you can call 1877-322-8228 to obtain your own copy.

Once you know your score and you decide to boost your credit score. You may following the tips from the MSN 7 fast tips to improve your credit score:

1. Pay down your credit cards and pay your bills on time. The longer you pay them on time, the better your score will be. The late payments are the major problems. If you have an average score, you can raise it by as much as 20 points by paying all bills on time for 2-3 months.

2. Use your card lightly: What typically report IS the last month payment. If you can lower the charge of the credit cards do help.

3. Check you limit: The credit bureaus typically use your highest balance as a proxy for your credit limit.

4. Dust off the old card: The older your credit history, the better. But if you stop using your oldest cards, the issuers may stop updating those accounts at the credit bureaus.

5. Get some goodwill. If you have been a good customer, a lender might agree to simply erase the one late payment from your credit history. You usually have to make the request in writing, and your chances for a “goodwill adjustment” improve the better your record with that company and credit in general.

6. Dispute old negatives. If you fighted with your phone company over an unfair bill a few year ago resulted in a collections account. You can continue protesting that charge to your credit company also.

Another great article about boosting credit score is do and don’t to boost credit score.