In today's toughening credit market the ability to qualify for a loan with reasonable terms and interest rate is a never ending battle.  With your credit score being a major indicator of your credit worthiness and with lenders and institutions scrutinizing their loan portfolio's more then ever, remember it is never too late to work at maximizing your credit scores.  Even if you prefer to pay with cash and debit card, you never know when you may need good credit to get a loan.  The following is some ‘behind the scenes’ information on how to optimize your credit scores for a single person or married couple.

A few is enough, Too many revolving/retail charge cards increase your potential debt exposure,which a lender thinks could potentially be over-used and thus riskier.

Never have a late payment, One 30 day late payment could decrease your credit scores by 30 or more points for up to 2 years. This is especially important for mortgage payments, but still very important with installment and revolving credit card payments.

Do not frequently apply for credit, Each time you apply for retail credit or a card, whether you activate the account or not, your credit scores could drop 12 to 15 points.

Use your cards, Use each card at least once every 3 or 4 months then pay them off. With many cards, lack of use for 18 month will cause your account to be deactivated. Reactivating it will lower your scores, because your credit will be checked.

Don't carry a balance, The amount charged has nothing to do with your credit. It is based on balances and continued use. You do not need to carry a balance to build your credit.

Avoid transfers, Unless you are doing this to lessen a definite financial burden, it is best not to transfer and transfer. This has the overall effect of lowering your scores, because up to 10% of your credit scores are awarded for credit and loan longevity.

Don't max out your credit, Try to make certain your revolving account balances are less than 30% of your high credit limits. If higher than 50%, your scores will be lower. Less than a 30% balance show you use cards for convenience, not necessity, so your scores will be higher.

Age and Income, Neither has much to do with your credit scores. Scores are based on how well you have continually used the credit, which is available to you.

Don't Co-Sign, Never co-sign with someone unless you are (1) willing to assume the debt and payments, and (2) can guarantee that the payments will be made on time.

Close unused accounts, Close your unused accounts, and if there is a zero balance, tell them to stop reporting your closed account to the credit bureaus. If accounts are not closed, your credit could be checked without your knowledge, thus dropping your scores.

Debt to Income Ratio, This ratio is key to you getting a loan.  Add together all your monthly credit card and loan payment obligations. This figure should be less than 40% to 50% (depending on the program), of your monthly gross income. This includes car and mortgage payments. If your goal is to purchase or refinance, think “Home first, car later”.

Remember it's your credit so take control of it and leverage it to your good use!

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