An excellent credit score will get you the best interest rates, so you want to ensure lenders will see your score at its very best. You already know that it's a bad idea to apply for new credit [1] in the months leading up to applying for a loan, but CNN Money has another tip [2] regarding the credit cards you already own.

To play it safe, they recommend keeping your cards under wraps during the month before you know you'll be applying for a loan and explain that, "Even if you pay off your balances at the end of the month, there's a chance a lender might pull your score the day before those payments are recorded, making it look as though you're tapping your credit."

Simply put: keep your paws off your cards before applying for a loan for a better chance at getting the best interest rates. Simple and effective, it's a must-do in my book.

Source [3]