Save Your Credit Score With These Five Steps

If you're an even semi-regular WalletPop reader, you know the importance of a good credit score. Not only is it your golden ticket to getting better rates for things like mortgages and credit cards, it also may help you get lower rates for auto insurance, rent an apartment and even get a job.

But with lenders continuing to tighten their standards even as the credit crunch eases, Americans have to keep close watch on their scores. Even a small slip could mean the difference between qualifying for a lender's prime rate or not.

If you're one of the many consumers just treading water with your credit score or trying to keep a small mistake from mushrooming into a financial crisis, read on. WalletPop spoke with credit score experts and asked them what steps you can take to save your credit score now. 

1. Check Your Credit Report

Credit reports can contain numerous errors, from records of nonpayment by someone with a similar name as yours to old or out-of-date loan information. Readers have told WalletPop of mix-ups involving similar names, incorrect reporting of credit limits and "black marks" that should have been stricken from the record years ago. The only way these readers -- and you -- can find out about mistakes that can drag down your score is to check your report regularly and go over it with a fine-toothed comb. Annualcreditreport.com is the easiest way to get a peek at your report, and if you space out your requests, you'll get three a year.

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