Pull Your Credit

Go to a free site, such as AnnualCreditReport.com, and pull a copy of your credit report. You will need your full legal name, date of birth, social security number and credit card information to verify your identity. Your credit report is free, however, you will have to pay for your score. At this point, you only need your credit report.

Check For Errors

Check the report for noticeable errors, such as inaccurate late payments, accounts that are not in your name or open accounts that are actually closed. Contact the credit bureau immediately, through the website you pulled your credit report, to report any errors. Removing the errors could help raise your score quickly.

Judgments, Collections, Liens and Bankruptcy

If you have a judgment, collection, lien or bankruptcy on your credit report, immediately begin a process to pay off the debt in full. While paying the debt will not remove the line item from your report, it will lessen its impact on your score. Attack the small ones first to score an early victory.

On Time Payments

Make sure all of your current loans and debts are paid on time. A late payment of less than 30 days will not hit your credit report, however, you may still be charged a fee by your lender. Old late payments cannot be erased, unless they were in error, but new ones can be avoided.

Credit Card Balances

Take a look at any of your installment debt, especially credit cards. Make sure your balance is less than 30 percent of your credit line to ensure the minimum impact on your score. Do not close old cards; doing so will lower your score. However, if the only way to avoid future debt is to close them, then do so to avoid falling into the same problem.

Source:

MyFICO.com: How Your FICO Credit Score is Calculated

Experian.com: Credit Score Basics

Experian.com: What's a Good Credit Score?

More Information:

AnnualCreditReport.com