Really rethink real estate
Thinking about using the depressed real estate market as an opportunity to do some investing? Be aware that it will negatively impact your credit scores, thanks to the multiple mortgages on the reports. Of course, you may also have a new income stream, so weigh your priorities. But remember, income is not part of your credit report.

Timing can be everything
Think paying off your bills in full each month keeps you on the sunny side of the street? You could be in for a shock.

Say the lender you're applying with for credit runs your credit report on the 29th of the month, which just happens to be two days before your monthly check reaches Visa to pay off the current balance. If that credit card balance stands at $9,000 on a $10,000 limit, your report declares that you are 90 percent utilized. Bingo! Your score that day is lower and you've been demoted to a higher interest rate on that loan.

But it's not practical to only whip out your credit report scores during certain days of the month. After all, Mastercard may be due on the 15th, American Express on the 27th and the department store card on the 10th. You're dancing through a landmine. Instead, Hendricks urges, make sure you spend no more than 30 percent of your available credit on any one card no matter which week it is on the calendar.

Run!
Experts say you should pull your own credit report at least twice a year and tackle errors that creep in. Tirone admits he'd let things like wrong former addresses slide, unless you have time on your hands to pursue that, but definitely morph into an attack dog whenever you spot a wrong account number or credit limit.

Know, too, that consumers who rely on free, online services to deliver their credit reports can see large point fluctuations between the paper in their hands and what a lender receives. Tirone has witnessed his own scores vary by as much as 31 points. If you want the most accurate picture of where you stand before applying for a major purchase, ask a banker to do the honors on your behalf.

Don't touch
If you are truly obsessed with remaining in FICO's upper echelon, resist the temptation to tinker with the ingredients in your credit life. For instance, closing accounts can actually strip points if it erases long-standing history data and lowers your available limits too much, says Hendricks.

Likewise, opening instant credit at the department store to take advantage of an additional 10 percent off on your purchase can temporarily rock the boat if you max out the new card's low credit limit.

Of course, keep a healthy perspective, too. You don't want this enviable FICO score to make you miserable, either.

"When people have scores that are really high, my counsel to them is don't worry about things like credit inquiries or closing an unused credit card. If you're in the 800 range and lose 50 points, you're still in the golden zone for almost every lender you'll meet," Watts assures. "You have a lot of built-up equity that you can use, if you want to look at it that way."