While on a shopping spree, you open credit-card accounts at several of your favorite department stores to snap up discounts of 10% or 15%. You’re saving a bundle, but you may be chipping away at your credit score.

Part of rebuilding your credit is proving that you can pay your bills on time. If your bad credit episode left you without any credit cards, you’ll have to open new ones.

A good FICO score is one that exceeds 700. Any amount above that number is generally sufficient to qualify for the lowest available rates on most types of loans, but it is not a one way ticket to being able to take out extraordinarily large loans-your income will have a more significant effect on that.

Secured credit cards are great for establishing or rebuilding your credit history. Unlike prepaid cards, secured credit cards give you a credit line, and your payment activity will be reported to the major consumer reporting agencies.

Watch out delinquent parents, your credit history can be checked by agencies that enforce child support payments. While the inquiry itself will not count on your credit report, failing to make your court-ordered child support payment can.