3 simple things you can do to improve your credit score

Discover cards are currently not available on CNBC Select and links have been redirected to our credit card marketplace where you can review offers from other issuers like American Express or Chase. You can also check out our list of best credit cards for alternative options.

Your credit score is the key to financial freedom. It can have a ripple effect in other aspects of your life, whether that's getting into a new home or planning a vacation using travel rewards.

According to FICO, the data analytics firm whose credit scoring methodology is used in 90% of lending decisions, a good credit score falls between 670 to 739. Hit that sweet spot(or higher) and you could qualify for mortgage refinancing, a cash-back credit card, a lower rate on a car loan, and more.

Below, CNBC Select shares three easy ways to boost your credit score.

If you have bad credit or no credit, there are credit cards that can help you build a positive credit history.

Secured credit cards extend a line of credit, charge interest and may even offer rewards. But unlike traditional credit cards, many don't have credit score requirements. In exchange, they require a security deposit to ensure the issuer is protected if you don't make a payment.

With the Discover it® Secured Credit Card, cardholders earn 2% cash back at gas stations and restaurants, (up to $1,000 each quarter) and unlimited 1% cash back on all other purchases. As a welcome bonus, Discover will match all the cash you've earned after the first 12 months.

There is a $200 security deposit but no annual fee or foreign transaction fees. After seven months from account opening, Discover will review your account to see if you can transition to an unsecured card.

If you want a card for building credit but don't want to pay a deposit, Chase Freedom Rise® (see rates and fees) is an unsecured credit card with no annual fee and a minimum $500 credit limit. Cardholders earn 1.5% cash back on all purchases plus a one-time $25 statement credit after setting up automatic payments within the first three months of account opening.

You also get free access to your credit score and, after just six months, Chase will evaluate your account for a credit limit increase. Bumping your available credit and leaving it untouched improves your credit utilization ratio, which is responsible for 30% of your FICO score.

Even if you don't make any missteps, your credit score could take a beating if there are errors on your credit report or you fall victim to identity theft. That's why credit monitoring services can be valuable — they can alert you about potential fraud or even just unusual activity.

Experian IdentityWork℠ Premium uses data from all three credit bureaus to notify users about changes to your FICO score and personal information, new inquiries and accounts and other suspicious activity. It will also work to scrub your details from people-finder sites and notify you if your information appears on the dark web.

Membership comes with dedicated fraud resolution support and up to $1 million in identity theft insurance.

Paying your bills on time is always a good idea, but many of them don't get reported to credit reporting agencies. *Experian Boost® is a free feature that links your rent, phone, internet, utility and streaming services to your Experian credit report. Only positive payments to these accounts are registered, so if you slip up it won't hurt your credit score.

According to Experian, users who received a boost to their credit score reported an average 13-point increase.

If your credit score isn't where you'd like it, it's not that hard to give it a boost. A credit-building credit card can raise your score while offering rewards, and Experian offers products that can monitor your credit report and get you credit for paying your rent and utilities on time. 

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*Results may vary. Some may not see improved scores or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost.

For rates and fees of the Discover it® Secured Credit Card, click here.