Once you get a copy of your credit report, check out each of the details, and quickly highlight, as well as dispute any errors or numerical flaws. An incorrect report can actually deduct as much as 100 points from your credit score. Individuals with good credit scores are often called prime borrowers , and these people are more likely to get special interest rates and other rewards from creditors. Develop Frugal Savings And Investment Habits During tough financial times, always make it a point to reduce your focus on purchasing items that are not an asset, and instead set your sights on items that can be able to reproduce more of the same asset. It pays to develop frugal saving and investing habits during tough economic times. Here s how to gain your credit score. Collect All The Require Information Before getting a free credit report, first obtain all your account numbers and loan statements, since the credit reporting bureaus may ask that you provide the account numbers and payment amounts, to validate your identity. A credit score is often generated by tracking data from a person s credit report, into software which analyzes it, and releases a number afterwards. Controlling Your Debt: How To Boost Your Credit Score A credit score acts much like your high school report card. It features a three-digit grade , which reflects a person's credit worthiness to potential creditors, banks, insurance companies, mortgage companies and even employers. The higher your score, the greater will be your chances of availing credit. To develop the credit scoring system, a creditor generally weighs each of the major factors, based on how each of the factors predicts whether a person is deemed a good credit risk. Credit scores generally have a range between 300 and 850. Here s a rundown of the standard score range. 300 499 Bad Credit 500 580 Poor Credit 580 619 Low Credit 620 679 Average Credit 680 699 Good Credit 700 850 Excellent Credit Regularly Monitor Your Credit Score According to credit experts, a good to excellent credit score is often weighed as a future sign of your credit value, and if your credit score is Good, then your future loan s interest rates will certainly be lower than usual. Availing a bank loan may be equally tough too, since most lenders will have second thoughts of offering their services to you, especially if they see your bankruptcy record. How To Stay Afloat Despite Experiencing Bankruptcy Whenever you wish to make a business purchase, or you wish to avail of a housing loan after an episode of bankruptcy, here are some helpful tips to follow.