A lender uses the credit score for deciding if he can give a loan or not. Credit score plays an important role in determining the interest rate .One third of  the contribution is from the payment history and  one third from the total Amounts Owed and remaining from the  length of Credit History, New Credit, Type of Credit in Use. Here are some tips for you to improve your credit score

Payment history has a great impact on the credit score, which stays in the record for seven years. It is important for you to keep your borrowing under control. One must work hard to reduce their debts .It is important to stop borrowing. The credit card payments must be made regularly. One must aim for a good credit score in order to get fast approval of loans. Too many cards can mess up with the credit score. Shopping regularly with credit cards gives an impression that an individual constantly seeks for credit. The payments must be paid well before the due date. Paying fines leaves a bad impression among the lenders. One must keep their debt under control, make payments on time and keep good bank balance for obtaining a good credit score. One must also be cautious while obtaining a new account.