The fourth most popular choice from our New Year&39;s Resolution Poll is "Improve Credit Scores" with 13% of the votes. Along with getting out of debt, preparing for a home purchase and boosting savings; working on your credit scores is an excellent goal for 2007.

Credit scores impact the rates you&39;ll receive on not just credit cards and loans, but also for auto insurance, homeowner&39;s insurance, cell phones, utilities, cable TV and more. Even if you are not in the market for a new credit card or a mortgage in the next few years, you can still benefit significantly from having good credit scores.

The first step is to know where all three of your credit scores stand and how you compare to the rest of the country. Currently, FICO reports the median credit score in America as 723 and Experian claims that the average score in the US is around 675. In order to qualify for standard rates you need a credit score above 700. And for the best rates available, you want a score well above 750.

Unfortunately, improving your credit score isn&39;t necessarily a simple task. There is no "quick fix" when it comes to credit but there are a lot of  tips that can help:

• Check your credit report for inaccuracies. One of the easiest ways to improve a credit score is to remove inaccurate negative records from your credit report. This could include records that don&39;t belong to you or that are expired. It&39;s important to check that the record is in fact inaccurate before you dispute it. This guide to correcting your credit report can help you get started.
• Improve your payment history. Your payment history counts for 35% of your credit score. Late payments, especially over 90-days late, can cause big damage to your credit scores. You can read more about improving in this category online here.
• Reduce your debts. Your debt-to-credit-limit ratio counts for 30% of your credit score. Aim to carry balances that add up to less than 10% of your total credit limits for the maximum score benefit. Read more about improving your credit score by reducing your debts here.
• Improve your account mix. Having a healthy balance of credit and loan accounts can give your score a boost. This factor accounts for 15% of your credit score. You can read more about improving your balance of accounts online here.
• Work on your credit age. Having a long history of responsible credit use shows that you are an established borrower and this factor counts for 10% of your credit score. Make sure you don&39;t close any old accounts on your credit report for this reason. Read more about your credit age online here.
• Avoid unnecessary inquires. Apply for new credit in moderation and only when you are certain that you want the account. The number of recent inquiries on your credit report counts for 10% of your credit score. Read more about managing your applications for credit online here.

Is credit score improvement one of your resolutions for 2007? Share your questions or tips in the comments section below. Or you can send a question to our credit scoring expert, John Ulzheimer, at askjohn@credit.com.