Make sure you double-check your report for minor errors. Particularly things that should have fallen off due to statue of limitations requirements, incorrect remaining balances and limits listed as lower than they are, and inconsistent paid off dates.
A lot of consumers we polled believed that paying their bills on time was the most important factor that influenced their credit score. However that is not always the case, even if you pay your bills on time and have a maxed out credit account (loan, line or card) it will have an adverse affect on your credit. Consequently, if your credit report shows your balances as higher than they are in reality or your limits as lower than they actually are, this by itself can severely impact your credit score.
There is a biblical saying that "the small foxes spoil the vineyard." In other words these seemingly minor items can have a major impact on your credit score. The truth is that they are all too common and commonly overlooked by consumers, who are looking to point the blame at the bureuas or some identity thief.
Delinquencies should age entirely off your report after 7 years, and bankruptcies after 10. The precise date of a short sale or foreclosure can actually be the deciding factor in your ability to qualify for a home loan - so make sure it is reported accurately.
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