According to Bloomberg News columnist John F. Wasik, a credit score of more than 750 typically means you will be approved for the lowest finance rates on loans for homes and vehicles. A credit score less than that could force you to have to pay higher interest rates or get approved for less than the best terms.

www.myFICO.com reports that the median FICO(R) score in the U.S. is 723. This means that half of all Americans have a credit score of less than 723. When considering people with a credit score between 723 and 750, most people in the U.S. have credit scores that are less than ideal.

And increased interest rates are not the only consequence of a less than idea. The credit crisis has caused banks and other lenders to be much more cautious with their practices. Just a few years ago, people with below 600 credit scores could still get approved for loans and other credit account, even if it was restricted to non-traditional mortgage loans and sub-prime credit cards. Today, in an economy of short sells and foreclosures, lenders are no longer willing to extend credit to higher risk individuals. Many people with bad credit are now unable to get approved for loans because of their low credit scores.

Fortunately for those with credit scores with room for improvement, there is something that can be done. An increasing number of Americans are finding out there are things that can be done to legally fix up their credit.

Join the thousands who have fixed their credit reports

The consumer credit reporting system is not perfect. Errors, math based assumptions, and irrelevant data all lend to a a risk assessment model that makes it look like responsible people who can be counted on to repay their debts are unworthy of credit.

If you are in a position where your credit reports are making you look like a worse credit risk than you really are, you may be able to increase your score by