Your credit score can impact access to credit and the rate you pay. Most people think that payment history is the dominant factor in determining your credit score. While payment history is important, five factors determine the credit score.

1. Payment history - 35%
2. Outstanding debt 30%
3. Credit history length 15%
4. Credit mix 10%
5. Pursuit of new credit 10%.

Things you can do to impact your credit score positively are to :

1. Hold no more than five credit cards and, ideally, 3
2. Manage your credit "inquiries," which happen whenever you apply for credit, even if you do not complete the transaction
3. Keep credit utilization under 10%.

If your credit score is marginal and you will be seeking a mortgage or another transaction dependent on a strong credit score, consider Experian Boost, which adds utility and telecom bills to your credit report.