Demystify Your Credit Score

A lot of readers have been writing in with questions about their credit. What's the best way to get a credit score higher? Is it better to cancel or leave open old accounts? What expenses should be paid off first?

Your credit score is one of the most important numbers in your life, especially if you plan on taking out a loan. Check out Carmen's post from July 15 where she explains what number is widely considered a "good" credit score these days. And watch the video to see how much of your credit score depends on the length of your credit history.

Send Carmen your credit questions below and be sure to watch her new show, On the Money, premiering on Aug. 4th at 8P on CNBC TV, for more tips and advice on managing your credit.