Now, is a good time, to talk to a credit counselor, and find out exactly what you need to do to turn your credit around. Sometimes common-sense doesn't play a role in good credit.
For example: you might think that canceling a credit card would be good for your credit. But, in fact, if you've had that card for a long time, and your history on that card was decent, you'd be removing all that "good history" from your report.
You might think that having only one credit card is better than having two. But if the one credit card has a balance higher than 75% of it's maximum credit line, it'd be better to spread that amount over two credit cards and have each of them with only 50% of their credit line used.
There are lots of little tricks, that a credit counselor can help you with. And it takes quite a bit of time to see your credit score improve... but it only takes on bad month to drop your credit score like a sack of bricks. In the scheme of credit scores, a year is not a long time... don't wait.. talk to your lender or a credit counselor today.