Your credit score is one of the most important tools in your personal finance arsenal. Credit scores are often used to determine not only your eligibility for financing but also the interest rate that you will be charged on said financing. A decent increase in your credit score has the potential to save you hundreds if not thousands of dollars in interest payments over your lifetime.

Ironically, this powerful tool is often misunderstood by the consumer. This mostly stems from the fact that the formulas used to calculate your credit score are not completely disclosed by the credit bureaus. Fortunately, you can take matters into your own hands.  After the break, I’ll show you 5 simple things that will get your credit score moving in the right direction.
» Read more: 5 Steps to a Better Credit Score