You could be sabotaging your chances of getting a loan or credit, in a tight lending market. Here are some simple steps to improve your credit score.

If you don't think it pays to check your credit, consider this. 80% Of all credit reports contain at least one mistake and that could harm your ability to get loans for homes or cars, or even hook up utilities at your home.

Once a year, you can request free reports through the website annualcreditreport.Com. Then, it's up to you to prepare your case to dispute errors.

"Make sure you've got your bank statements, any bank records, follow up letters with financial institution, the credit card company or what have you so you're able to provide that to the credit reporting agencies," said Bob Yee, Central Pacific Bank V.P. & Kaimuki Branch Manager.

The three reporting agencies use what's in your report to calculate a credit score. Here's why it pays to increase your score. For a 30 year mortgage right now, with a credit score above 760, you could lock in interest at 5.7 Percent, with monthly payments of 1740 dollars. If your credit is less than 650, interest would be more than a point higher, and payments close to 2-thousand dollars.

Scores are based on if you pay your debts on time, number of inquiries, who you're applying to credit for, how many times applying for credit.

Having too many out there is not a good thing, but not having any is not good either. That doesn't give a good credit history," said Yee.