Last week, I spoke about FICO and what determines your credit score. Now, if you've already checked and found out that your score is on the low side or you've been refused credit, you might want to look into raising that score. Incidentally, like my friends at Wells Fargo like to say, "Raising your credit score is a bit like losing weight. It takes time and there is no quick fix."

The best advice is to manage credit responsibly over time. Follow these suggestions from the Fair Isaac Corporation, the creators of the FICO score:

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