A credit score higher than 750 typically means you'll be approved for the lowest rates on purchases like mortgages and vehicles. A credit score lower than 750 could force you to have to pay higher interest rates or get approved for less than the best terms on your loan.

myFICO(R), the consumer division of Fair Isaac, reports that the median credit score in the United States. is 723 meaning half of all Americans have a score below 723. When considering the number of people with a credit score between 723 and 750, the majority of Americans have credit scores that are less than ideal.

Increased finance rates are not the only effect of a less than idea. The credit crunch has caused banks and other lenders to be much more conservative with their lending practices. Just a few years ago, people with sub 600 credit scores could still get approved for loans and other credit account, even if it was restricted to non-traditional home loans and high interest credit cards. Today, in an economy of bailouts and foreclosures, banks are no longer willing to offer loans to higher risk individuals. Many Americans with bad credit are now unable to get approved for loans because of their low credit scores.

Fortunately for people 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 fix up their credit reports.

Join the thousands who have fixed their credit reports

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

If you are one of the many Americans whose credit score is making you look like a worse credit risk than you really are, you may be able to improve your score by fixing your credit reports.

The Fair Credit Reporting Act (FCRA) provides you with the right to dispute any listings in your credit reports you feel may be inaccurate, untimely, misleading, biased, incomplete or unverifiable ("questionable"). In essence, you have the right to question the negative items in your credit reports you feel are giving lenders, insurance companies, potential employers, etc. an unfair impression of your true credit worthiness.

You can work to fix credit report on your own or with the assistance of a reputable credit correction company like Lexington Law. Since 1991, Lexington Law has been helping clients dispute the questionable negative items in their credit reports and has produced life changing results time and time again.