What you're looking for on your report are factors that could be affecting your score. Look for errors in the report, such as accounts that aren't yours, late payments that were actually paid on time, debts you paid off that are shown as outstanding, or old debts that shouldn't be reported any longer (negatives are supposed to be deleted after seven years, with the exception of bankruptcies, which can stay for as long as 10 years).

After repairing errors, the fastest route to a better score is paying down balances on credit cards. There's really no silver bullet, but I would think that over 60 days, it's possible to increase your score 20 points by paying down your credit lines.

Had a few late payments in your past?
If you find yourself in some financial difficulties, you can protect your score by making sure your payments don't go 60 days past due.  Some lenders don't report 30 days past due, but they all report 60 days past due.

Even if you've paid your bills late in the past, you can improve your credit score by paying every bill on time from now on.

A big no-no
Don't close unused accounts.  It won't help you and it can hurt you.   Closing unused accounts without paying down your debt changes your utilization ratio, which is the amount of your total debt divided by your total available credit.   If you do cut up cards, though, leave the oldest one open.  The length of your credit history is another factor in your score. If you close the account of the credit card you got when you were a freshman in college and leave open the ones you just got within the last couple years, it makes you look like a much newer borrower.

Working with credit card balances
Another strategy for bringing up your score: Transfer balances from a card that's close to being maxed out to other cards to even out your usage. Or just spread out your charges between a few cards. All of these strategies generally take at least 30 days because lenders don't report payments more than once a month.

Rapid rescoring
If you're in the throes of qualifying for a mortgage and need a score boost in a hurry, you can speed the process along with rapid rescoring. If you've got legitimate negative information on your credit report, such as late payments or accounts in collections, you're out of luck. But the process of rapid rescoring can help increase your score within a few days by correcting errors or paying off account balances.

You can't do this one yourself; you'll need a lender who is a customer of a rapid rescoring service. Generally, the service will run roughly $50 for every account on your credit report that needs to be addressed, but it could save you thousands on your loan. If a consumer can find a lender who is a customer of a rapid rescoring service, new information can be posted within 72 hours.

The bottom line is that you're not powerless when it comes to your credit score!

• if you have the choice of a cash rebate or zero-percent financing, take the cash and apply it as a down payment.
• Sales were off in 2006, as a result the competition is steep. Dealers seem to have a large amount of summer inventory. Take advantage and negotiate for a great deal.
• Sometimes it's wise to be a contrarian and so this may be a good year to buy a truck or sport utility vehicle. As a result of record-high gas prices last year, demand for gas guzzlers dropped precipitously. Now, with gas prices headed down, the savings on a purchase may outweigh the savings on fuel -- particularly if you don't drive many kilometers.
• Be very careful if your unsure of how many kilometers you do a year. Most attractive lease offers are based on a very low kilometer lease. The average driver in Canada puts on more than 20,000km a year. If you’re an average driving, taking that low kilometer lease and hoping for the best could result in stiff fines and penalties.
• Watch out for options. Especially those that may have been tacked on by a dealer looking to a make a quick buck. Options can substantially drive up your payment. 
• If you do decide to take the plunge in 2007, don't fret about buying a vehicle that's new to the market or has been substantially redesigned. Thanks to computer-aided design and modern computer assembly, the gremlins that once plagued new models have been largely eliminated.
• Keep a close watch on the on the Bank of Canada prime lending rate. If it goes up, expect programs and incentives to change for the worse. Act fast to get the best deal.
• Avoid buying more vehicle than you need or can afford, and keep the financing terms as short as possible.

Watch out!  Although your loan payment may not change over the term, your car insurance rates can!  I can't stress the importance of affordability.  Banks approve your loan based upon current conditions, not the future.  Yet, a few speeding tickets can end up costing thousands extra per year in premiums. 

Lets look at an example.  The unfortunate example is me.  !  I have two speeding tickets, opps.  It happens.  I didn't fight them, I lost points and as a result I faced a significant 50% increase in my premium when I went to buy a new car!  The problem is that my high insurance rate doesn't expire anytime soon.  I will be stuck at the higher premium for a minimum of two years, if not longer.  In addition, my rates can still be raised next year even if I dont' get another ticket!  The other big problem is that I run the risk of losing my insurance if I get another ticket.  If that happens, I can expect my insurance rates to double, if I could even get insurance at all.  This relates closely to your car loan.  If your insurance becomes unaffordable you might have to sell your car.  With a bad credit car loan at a high rate you might be in a negative equity situation meaning you owe more than the car is worth.  To avoid this problem, make sure that you calculate a potential insurance increase into your overall budget.