Financial lenders are tightening their credit line guidelines, many borrowers are now getting wiser and sharper in improving their "FICO Credit Scores" to qualify for loans, secure better loan terms and receive a lower interest rates on their loan.

Many people are not aware that they can improve their credit score in four to six weeks. The first step towards the goal of lowering your "FICO Credit Score" is to better understand what variables can enhance your credit score.

Credit Limits - All borrowers must know their monthly credit limits and attempt to evenly distribute their credit usage in order to increase their credit scores.

Lower Your Balances - Credit scoring softwares score you favorably if your month ending balance is closer to zero dollars. Most credit balances with over 70% = damage credit, next tiers are 50% then 30% of your maximum credit limit. Please note that is is imperative to properly distribute outstanding balances over several credit lines or credit cards.

Never Cancel Credit Cards - Closing your credit card accounts effect "FICO Credit Scores". This rule doesn't apply to credit card accounts that were opened less than 2 years ago. The logic is very simple, the majority of people who have credit for a longer period of time are less risky of defaulting on their payments.

Eliminate Late Payment From Report - Always make an attempt to get rid of late payments that are listed on your credit report. You should contact your creditors that report late payments and request a good faith adjustment that removes the late payments reported on your account. 

Collection Accounts - Get rid of any collection agency accounts. Paying them off a collection agency account leads to a decreased credit score due to the date of last activity getting updated to the current date when you pay.