How Can I Improve My Credit Score?

You may not put much thought into your credit score until the time comes to apply for some sort of major financing, like a mortgage or auto loan. But having good credit won't just increase your chances of getting approved; it'll also help you snag a more favorable interest rate. However, even if you're not buying a new house or car anytime soon, a better credit score can help your finances in more ways than that most-obvious one, so it's worth doing what you can now to become a more desirable borrower in the eyes of lenders -- and a more responsible individual in the eyes of others ranging from insurers to potential employers.

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Before you can work on improving your credit score, you'll need to understand what goes into that number in the first place. It has five key components:

Source: Fool.com