For example, if a collection agency reports that you weren't able to pay overdue parking tickets or library fines, this could make your credit score drop by as much as 100 points. Ensure that you pay your library fines or parking tickets on time, because you won't know when they send these bills to the collection agencies. For instance, if you had a $60,000 credit limit on your credit card, and you ve only so far used $6,000, or 10% of the credit limit, your balance must never go up to as much as 30 percent of your card s credit limit. Always make sure that you maintain a balanced proportion of used credit to available credit. 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. A person who's experienced bankruptcy will also be classified as a high-risk customer, hence the rejection of his or her loan application. Before you file for bankruptcy, remember that bankruptcy is not an easy way out of your financial mess, because it will have serious implications on your credit record, and will also seriously hamper your business dealings with other people. Try to do a cluster of loan inquiries within a proper period of time, like one every two weeks, so that your credit score remains strong, and won't have to suffer major drops in credibility with lenders. According to credit experts, a credit score of 300 to 580 indicates that you'll only get approved for loans which offer very high interest rates. Determine The Exact Requirements Of Creditors And Credit Bureaus Next, find out and anlyze the exact requirements of most lenders and credit bureaus. Once you find out the exact requirements, accomlish each one of them, and personally assess your credit standing. Also ensure that your buisness has at least five lines of credit with vendors who normally report to business credit rating companies and agencies.