Is 700 a good credit score?

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A 700 score is in the "good" range, so you may expect instant approval for the necessary loan for any emergency. You can even find low-interest personal loans with convenient terms. Moreover, you can make your good credit even better following some simple advice.

What is a good credit score?

700 credit score falls within the range of scores from 670 to 739, which is considered “Good Score” by FICO rating. It’s higher than the average score which makes borrowers with 700 credit reliable enough for lenders to offer them loans and other services at better rates. It’s even possible to request a loan from a bank or credit union with a 700 credit score.

Though, for borrowers with bad credit there’re also lending companies ready to provide the necessary cash in emergency situation.

Only 17% of Americans have a credit score of 700. Good credit is sometimes included into the lenders’ requirements, but it’s not the main criterion.

Good credit score range

Find out what are the other credit score types according to the FICO range:

Score Range

Value Range


Excellent Credit Score

800 & Above


Very Good Credit Score

740 - 799


Good Credit Score

670 - 739


Fair Credit Score

580 - 669


Poor Credit Score

579 & Below





What is 700 credit score?

A 700 credit score is "good" according to the standard 300-to-850 FICO score scale. A 670 credit score will let you apply almost for any loan type and get guaranteed approval from online lenders. Just choose the necessary amount, make sure your state doesn’t prohibit such loans and get instant decision. Compare the rates to choose the cheapest loan for good credit.

Here’s an overview of a 700 credit score:

  • Credit Rating: Good
  • Loan Options: Low Interest Personal Loans, Cheap Payday Loans, Alternative Loans form Credit Unions, Loans from banks.
  • Loan Cost:  APR starting at 3.99%
  • Best Option: Low Interest Personal Loan with monthly payments

700 Credit Score Loan Options

As 700 is a good credit score, you should consider borrowing cheap and convenient loans from legit lenders. It’s also recommended to apply to lending companies that report to the major credit bureaus. It will help you to improve your credit even more if you repay the money on time.

How to improve your 700 Credit Score

Though your 700 score is already good, there’re still some things you can do to make it even better.

Just follow this expert advice and in several months you are guaranteed to increase your score to a much better level:

  • Get a free credit report to check your credit score. It will help you prioritize any credit missteps you should address first
  • Pay bills on time and try not to use more than 30% of the credit limit on all your credit cards. The less you use, the better it is for your score.
  • Apply for secured loans backed by collateral.
  • Consider a credit-builder loan.
  • If you can’t repay any loan, discuss a debt-management plan to get some relief.
  • Apply for a secured credit card. Regular payments will be reflected in your credit report and will contribute to your credit score improvement.

What’s a bad credit score?

If we speak about a standard FICO score range between 300-850, a bad credit score is 579 and below. Bad credit may become a problem for loan approval sometimes and may lead to higher rates. That’s why it’s better to improve it and check your score regularly not to come into poor credit range.

What’s the highest credit score?

The credit score above 800 is considered to be excellent. The highest possible score according to the major scoring models is 850. Only 20% of Americans can boast of the score higher than 800.

Does checking your credit score lower it?

First of all, let’s check what main factors affect your credit score. It will let you build the correct tactics how to improve the score.

FICO Scoring Model Calculation (Weight) Factors

Credit Factors

Credit Score Weight

Payment History


Credit Utilization


Credit Age


Different Types of Credit


Number of Inquiries


How does each factor influence the credit score and what can be done about it?

  • Bankruptcy – can hurt your score significantly. Besides, it stays on your report for a long time - 7 up to 10 years. Only with time the score will recover.
  • Credit utilization rate shouldn’t rise over 30% to avoid hurting your credit score.
  • Late or missed payments on bills take about 35% of the affect on credit score. Try to avoid it.
  • Duration of credit history - a longer credit history tends to lead to a higher credit score.
  • Total outstanding debt and types of loans you take out are responsible for 10% of your FICO® Score. The richer your credit portfolio is the better.
  • Multiple loan applications recently can lower your credit score. The fewer hard inquiries you have the safer your score is. So, avoid applying to a lot of lenders or choose those with no hard credit check.

(Checking your own credit is a soft inquiry and does not affect your credit score.)

Dealing with credit report errors

It’s useful to check your credit report not only to find out your score but also to make sure it contains only correct information. There may be some errors which must be corrected immediately to avoid making your 700 credit score even worse.

Negative incorrect information takes 33% of all the factors that can damage your credit score!

How to dispute your credit report?

If you noticed any errors on your credit report, you should immediately file a dispute with the credit bureau.

Check my credit score

Even if you are sure that you have good credit, it’s recommended to check your credit score and get your free credit report from EquifaxExperian, or TransUnion at least once a year.  It will let you be informed and provide access to more loan options, lower interest rates, and reduced fees and terms.

How Good Is Your Credit Score?

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