It is your right as an American to know what bad credit information about you is being spread by the credit reporting bureaus. Just contact the three major credit bureaus at the website annualcreditreport.com for your free copy once a year. It is also your right to correct outdated or incorrect information in your credit report. That much should be common knowledge to every American by now. But this article will introduce you to some little-known techniques that you can use to fix some of your financial problems.

Secret #1: The address you use when applying for credit makes a difference. If you don't use your actual street address, but instead provide a mail box number, UPS store, or similar outfit on your credit application, it is less likely you'll be approved. That comes up in the credit bureau systems as not being a real address.

Secret #2: It's not enough to just remove negative information from your credit report; you must add positive accounts in order to rebuild your credit rating. One fast way to add a positive account is by getting a sub-prime merchandise card. But unlike a VISA or MasterCard, a sub-prime merchandise card only allows you to buy goods from a specific vendor. They are easy to get, and not only add a positive account to your credit report, but they also can raise your credit limit.

Secret #3: Being self-employed hurts your credit. If you are a sole proprietor, it is to your advantage to become incorporated. Lenders like stability, and employment with a company (even if it's your own), looks better to them than someone who is self-employed.

Secret #4: Even if you have a good credit rating, you can still be over your head in debt. Your good rating is based on the past, but might have taken on more debt than you can handle. Before it impacts your credit rating, take action. Renegotiate your debts with your creditors in order to preserve your good credit.

Secret #5: It is false that by paying off your credit cards in full every month, you will have excellent credit. It is better to carry a balance, even though you'll be paying interest on it every month. Keep a 10% to 30% debt to credit ratio. That demonstrates to potential new lenders that you are a solid, financial risk who can handle credit.

Secret #6: Avoid free credit report services. Most free services will give you the first 30 days free, and then nail you with a monitoring fee. You can get a free copy of your credit report once a year from an organization set up by the credit bureaus themselves.

Secret #7: Just one late payment can ruin all your hard work. If you've worked hard to clean up your credit report, don't blow it by missing another payment date. Just one "late-pay" may have an impact on your credit rating.

In times like these, good credit is more important than ever. You can take charge of your financial affairs, and reap the rewards of lower interest rates, and even lower insurance premiums. And if you arm yourself with the right information, you can do it all yourself!