If you have a credit score of 700 or higher, pat yourself on the back. You’re above average and certainly qualified to borrow big bucks at the lowest available rates. Anything below about 680 sounds the warning sirens. This number is the point at which lending institutions get out their magnifying glasses and begin raising rates and denying credit. If your credit rating dips below 700, take steps to improve it, such as these:

 Dispute any erroneous items on your credit report. Disputing a claim doesn’t always result in a correction, but you can request to have a paragraph explaining your side of the story added to your report.

 Apply for fewer loans and credit cards. When you apply for a loan or credit card, the lending institution typically orders an inquiry that shows up on your credit report. Evidence that you’re applying for several loans or credit cards in a short period of time can make you appear financially desperate.

 Pay off your credit card balances or at least pay off enough so that the balance is 50 percent or below your available credit limit. If you have enough equity in your home, you can refinance to consolidate high-interest credit card bills into your mortgage payment, but avoid the temptation to begin racking up more credit card debt after refinancing.