You might feel a bit disturbed these days if you have been watching your credit scores steadily drop. Even though that may be expected if you have had financial difficulty recently, you may be surprised to learn that your low credit scores may not be solely your fault.

For the first time in decades, Fair Isaac has altered their FICO scoring system. A bleak economy may have affected your employer to the degree that raises, bonuses, or overtime hours have become a distant memory. The credit card companies are actively cutting credit limits and closing accounts to limit their exposure during unstable economic times. And when it comes to your personal credit, these facts all have the same thing in common.

There is nothing you can do about them and they all can negatively affect your credit score.

However, the fundamentals of credit score improvement have not changed too much and can still be accomplished by simply managing your money wisely and keeping on eye on your credit report for errors. So, of course, the first step you should take is to request a copy of your personal credit report. You can easily request them from the credit bureaus or annualcreditreport.com. But even if you don't currently have a copy of your report, there are 3 active steps you can take right now to improve FICO scores and gain control of your finances:

Start Improving Your Payment History

Your payment history or how well you pay your bills is the #1 indicator in calculating your scores and comprises approximately 35% of your total creditworthiness. That means, you could have a laundry list of good credit references when applying for a loan, but as soon as potential lenders see a few late payments on your report, there's a good chance a rejection is in your immediate future. So, make it your first priority to start paying those monthly bills on time if you aren't currently. Don't forget, even some of your utilities may report to the credit bureaus these days, so you'll want to focus on prompt payments every month. No exceptions.

Improve Your Debt To Credit Ratio

The amount of debt you have at any given time compared to your credit limits comprises around 30% of your overall credit score, so taking control over your personal debt now can help increase FICO scores by almost 1/3 in the future. If you use credit moderately and responsibly by not exceeding 10%-30% of your total credit limits, potential lenders will take notice. For example, if you have a credit card with a $1000 limit, use it regularly without exceeding $300 per month. Your potential lenders want to see that you use credit actively, but you do not rely on it heavily. So, companies will be less likely to close your accounts and your credit history will improve if you implement this disciplined spending strategy and use credit intelligently.

Improve Your Credit History

This last technique to improve FICO scores might surprise you a little, as it isn't as common sense as simply using credit moderately and paying bills in a timely fashion. Don't close your old accounts. That's right, keep them open.

Even if you have had a few problems with them in the past, if you have an older account that you are now paying promptly, just leave it alone. Your credit score will definitely suffer when you close numerous older accounts as it shortens your credit history. So, don't touch.

Your personal credit history is around 15% of your total credit score, so it also is deserving of your full attention. In a nutshell, it is best to go ahead and get your report. Then sit down and make an educated, comprehensive plan of attack before blindly jumping into credit repair.

Attempting to improve FICO scores may not be as easy or straight-forward to do as it once was, but you can accomplish it in less time than you may think if you remain determined. And finally taking control over your finances can not only be rewarding and satisfying, but it will utlimately give you a more successful life in general as you now qualify for the home and auto loans you really need.