Which of the following actions would improve your credit score? Which of the following actions would improve your credit score?

a. Closing out old credit cards

b. Paying off your credit card bill

c. Using a large portion of your credit limit

d. Opening a new savings account

Answer B is correct. Paying off your credit card bill will reduce the amount of debt you have and improve your credit score. Closing old credit cards only works if they are unused. As savings accounts are not included in a credit report, opening a new savings account will not have an effect, either negative or positive, on your credit score. Using up your credit limit will have the negative effect of lowering your credit score.