Save a Buck: Boost your credit score

Want to save $105 a year?

A new study by Washington Mutual estimates that credit card users can do just that if they boost their credit scores by 30 points.

Credit scores are essentially an estimate from the credit companies of the risk that you won't pay off your loan. Credit scores typically range from 200 to 800 and they are used by banks and insurance companies to determine rates for mortgage loans, credit cards, auto loans and other financing.

Some quick tips to boost your score:

Try not to use your credit card to the max. You should have a "usage limit" below 50 percent, meaning if you have a $10,000 limit, try to use $5,000 or less of that amount.

Avoid opening multiple new accounts quickly.

Pay off your debt rather than moving it around. Paying off a large balance improves credit scores.

The scores are compiled by three credit bureaus: Equifax Inc., TransUnion LLC and Experian Group. Consumers can obtain a free copy of their report from all three once a year, but you have to pay about $15 to see the actual scores.