There are a number of tips that you can use right now to improve your credit score. A credit score is used by lenders, credit card companies and several other entities to gauge credit worthiness. Understanding how a credit score is calculated, using credit responsibly and utilizing a credit monitoring program are some of the things you can do to quickly improve your credit score.

Credit Score Tip: Understand Credit Score Calculations

Credit scores are calculated using a number of criteria. These include:

• Payment performance history; the number one credit score tip is to pay bills before they are due every month.
• The current level of debt affects a credit score and helps lenders and credit card companies determine the additional
amount of debt that can be tolerated.
• The length of credit history also impacts a credit history. In the old days, credit experts advised closing old accounts but now we're told to keep accounts with solid payment histories open to improve credit scores.
• Multiple credit card and loan applications at one time may indicate some financial issues or problems and are factored into the credit score.

• Different types of accounts in a credit history can improve a credit score. Lenders like to see a mix of credit cards, loans and other lines of credit to see how effectively the debt is managed.

Credit Score Tip: Improve Credit Score with a Credit Monitoring Program

Credit scores improve with a credit monitoring program. Ordering a credit report with a credit score offers a starting point to understand how credit worthiness is determined by lenders and credit card companies. Experian's Triple Advantage credit monitoring program provides a credit report, current credit score and tips on how to improve a credit score. When you order your credit report, verify that all information in your credit history is accurate. Errors in credit reports are not uncommon and it's your responsibility to fix any mistakes. Credit report errors can be easily corrected by contacting the reporting credit bureaus. Credit monitoring programs will also immediately notify you about any suspicious activities on your credit report.