An important step to finding a home, whether you're renting or buying, is ensuring that you have a good credit history. The American Bankers Association suggests the following tips to improve your credit score.

Request a copy of your credit score report - and make sure it is correct

Your credit report illustrates your credit performance, and it needs to be accurate so that you can apply for other loans - such as a mortgage or car loan.

The Fair Credit Reporting Act (FCRA) requires each of the nationwide credit reporting companies — Equifax, Experian, and TransUnion — to provide you with a free copy of your credit report, at your request, once every 12 months.  Visit annualcreditreport.com to get your free credit report.

Set up automatic bill pay

Payment history makes up 32 percent of your VantageScore credit score and 35 percent of your FICO credit score. The longer you pay your bills on time, the better your score. Avoid missed payments by setting up automatic bill payments through the IBC Bank mobile app. Click HERE to learn how!

Keep balances low on credit cards and "revolving credit."

Racking up big balances can hurt your scores, regardless of whether you pay your bills in full each month. You often can increase your scores by limiting your charges to 30 percent or less of a card's limit.

Apply for and open new credit accounts only as needed

If you need a new line of credit, compare rates and fees offered through mail solicitation, on the Internet or at your nearest IBC Bank.

Don't close old, paid off accounts

According to FICO, closing accounts can never help your score and can in fact damage it.

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Source: American Bankers Association