NOPE. NOT GOOD ENOUGH!  Who would have thought a credit score of 720 would no longer get you a great interest rate? Now the magic number is more like 760. Banks are tight and money is tighter.

So how do you improve your score? You need to get it up by at least 40 point increments to get the next best financing deal.

1. Check for mistakes and correct them. Mortgage brokers can help you do that.

2. Keep balances on revolving credit to a minimum. Definitely below 30 percent of available credit.

3. Keep stable lines of credit. Stay with two or three credit cards and don't open and close accounts. Keep balance low and try to get as much of a line as possible to improve your credit to debt ratio.

4. Always pay bills on time. Set up a computer calender or money program through online banking to ensure you don't mess up.

5. Credit bureaus can be slow to reflect your current situation. If you're under the crunch to get financing you can pay extra to get a rapid score. It will take about a week to reflect changes that you've made to improve your score but help you get a better deal with the bank.