Today, we’ll show you a number of different ways you can improve your credit. You’ve probably heard of FICO scores, which are the way credit bureaus measure your credit and are a key factor in how home loan lenders set interest rates. A lower interest rate could drop your monthly mortgage payment significantly and could save you of thousands of dollars over time, so it’s important to improve your credit rating as much as possible. How do you do that? Here are five steps you can take right away.

• One: Get a free copy of your credit report online. Review the information to see how timely you’ve been on your payments: credit cards, student loans, utility bills, mortgage payments, car loans, and department store cards.T
• Two: Set up a payment schedule to avoid any more late or missed payments.
• Three: Make more than the minimum payment on each credit card.
• Four: Close all credit cards you don’t need, and don’t apply for more cards just because they’re offered to you.
• Finally: Work to pay off debt. Don’t keep bouncing your balances from one credit card to another. If you’re a homeowner, think about using the equity in your house to get a debt consolidation loan.

Remember, the three major reporting bureaus update your credit report constantly, so every positive move you make to improve your credit shows how responsible you really are, and helps build a better credit rating. Here’s another thing: You don’t have to tackle credit repair on your own. There are several ways to get help: Check in with mentors or friends. If they’ve had similar problems, they can give you good advice. Contact legitimate, non-profit credit counseling services. They’ll work with your creditors to try to get late fees waived and payments reduced. They’ll also help you learn how to organize your finances to get your spending and credit under control again.

Watch out for any credit counselor who offers to wipe out your debt or tax liens by offering legal loopholes, or a new social security number, or who want you to stop paying your bills while they negotiate for you. And remember: bankruptcy is the worst way to get out of debt, since it stays on your credit record up to 10 years and can affect everything from your employment to rentals, leases, and insurance.

Today, we’ll show you three ways to help avoid identity theft.

Did you know that over 10 million Americans have been victims of identity theft.? In most of these cases, identity theft involved credit card fraud.

So how do you protect yourself? Here are three simple ways:

First, protect your social security number. Criminals can use it to open credit cards or bank accounts to make fraudulent transactions. Keep it in a safe location like you keep your passport and the deed to your house, and never keep it in your wallet. If your wallet is lost or stolen, you’ve got real problems. And be extra-careful about giving out your social security number. For example, if you’re opening an account with the phone company, and they ask for your social security number, ask if they’ll take your driver’s license or your state ID card instead.

Second, monitor your credit. Criminals who steal your identity will try to open credit cards, store cards, and gas cards in your name, and stick you with the bills. Credit monitoring helps you spot this problem early on. If a thief tries to get credit using your identity, it’s likely to show up on your credit report.

How do you monitor your credit? Start by getting a free annual credit report from all three credit bureaus - Experian, Equifax and TransUnion.

You can also sign up for a credit monitoring service. For a small fee, all three credit bureaus will notify you whenever changes are posted to your credit report. You can do this yourself, but you need to check in with each credit bureau about once a month so you can spot any problems early on.

Finally, shred first, and then toss. To find personal information, thieves will pick through your trash. So never throw away your old tax returns, credit card offers or financial statements unless you shred them first. These documents have your name and address, your date of birth, your social security number - all that’s needed to commit identity theft. Spending a few dollars on a shredder now could save you thousands of dollars - and a lot of headaches - in the future.