Learning how to fix credit can mean the difference between qualifying for a loan with great interest rates and not qualifying for the loan at all. It can mean the difference between being approved for a rental and struggling to find a place to live! And with 60 percent of employers running credit checks, not knowing how to fix credit could cost you a job!

You can learn how to fix credit by following seven simple steps:

Step One: Keep the proper credit card balance.

Did you know that your credit card balance affects your credit score? Having the wrong balance, even for a day, can cause your score to drop.

Step Two: Have the right number of credit cards.

Credit bureaus give higher scores to people with the right number of revolving credit cards (i.e., MasterCard, Visa, Discover, or American Express).

Step Three: Make sure the credit bureaus are reporting your proper credit limit.

Credit card companies often report the wrong credit limit to the credit bureaus, which interferes with the balance-to-limit ratio (See Step One). Learn how to correct this error.

Step Four: Learn the difference between helpful and harmful installment loans.

A helpful installment loan is one of the fastest ways to boost your credit score, but finance account installment loans will cause your score to plummet.

Step Five: Remove high priority credit report errors.

Approximately 80 percent of all credit reports have at least one error, and those that occurred within the past two years can cause serious credit woes. By removing erroneous information from your report, you could see your score jump. But beware of spending too much time on this step. When learning how to fix credit, make sure you know the difference between high priority and low priority errors.

Step Six: Address credit collections head-on.

Instead of waiting for a collection account to drop from your credit report, begin the process of negotiating to have it removed! And be sure you know the facts. For instance, did you know that each time you make a payment on a bill in collections, your credit score could be damaged?

Step Seven: Create a credit monitoring plan.

Once you have learned how to fix credit, be sure you maintain your high credit score. Create a budget, leverage advances in technology, pull your report regularly, and protect your marriage by learning when to have joint accounts and when to have separate accounts. ?