Are you ready to improve your credit score? Only 10% of Americans know their credit score. Are you in the 90%? If so, it is time for you to take action.

Are you interested in saving some money? Did you know that knowing and managing your credit can save you money in the form of lower interest rates and even insurance rates.

So if you want to improve your credit score, take these 10 steps to improved credit.

1. Pay your bills on time, I know you knew this but I cannot leave it out. Even if you have been late in the past. Staying up to date will help get you get back on the credit repair road.

2. Keep your balances low. Having a balance that is more than 50% of your credit limit will negatively affect your score.

3. Only open credit card for accounts that you will need and use. As tempting as it is to take advantage of the “10% off your purchase” offers from stores if you apply for credit - resist. It may hurt you in the long run.

4. Open accounts slowly when you do apply for new credit. Your credit score looks at the age of your accounts and the number of times your credit score has been checked recently so opening a number of credit accounts at once is like a double whammy when it comes to credit repair.

5. Use credit wisely. Your can actually improve your credit score when you use your credit but also follow the other guidelines here.

6. If you are looking for a loan, such as a mortgage, do it in a very short time frame. The credit bureaus can tell you have been shopping around and won’t penalize you for it.

7. Contact your creditors if you start having financial issues. Sometimes they can help you before you get in too deep. It not, locate a legitimate credit counselor.

8. Regularly check your credit report for accuracy. Recently, my friend had someone else’s negative credit card record on his report.

9. Reduce your balances by paying your debts. Don’t consolidate as it may have an undesired affect on your credit score.

10. DO NOT close your credit accounts. This is not an action that will improve your credit score. The credit bureaus still look at the payment history and the length of the history. If you close the account you lose the benefit of a lengthy history, however you still have the payment history which can hurt you if its negative. This is the single biggest mistake people make when wishing to repair their credit.

According to John Danaher of True Credit, “ Good credit is a cornerstone of your financial profile, enabling you to finance major purchases.” He goes on to say - “Not knowing about your credit can expose you to higher interest rates which translates into less money in your pocket at the end of the day.”

So save money and work financially smart. Take these steps and you will be able to see the difference.

Author's Bio: 

Theresa is the author of She shares information she has experienced about credit repair, such as