Your credit score plays a significant role in your financial life, affecting everything from loan approvals to interest rates. Fortunately, there are several steps you can take to improve your score over time. But not every strategy will work equally well, and some actions could even hurt your score if not done correctly.

For instance, paying off your credit card balances in full each month can help lower your credit utilization ratio, a major factor in your score. On the flip side, closing old accounts could actually harm your score by reducing the overall length of your credit history. Knowing the best practices for improving your score can save you money in the long term and open up better borrowing opportunities.

Do you know which action is most likely to boost your score? Let’s put your credit knowledge to the test!