Is 700 Considered a Good Credit Score?

Yes, 700 is considered good. Credit scores are ranked from 300 to 850: According to FICO:

  • Very Poor: 300 to 579
  • Fair: 580 to 669
  • Good: 670 to 739
  • Very Good: 740 to 799
  • Excellent: 800 to 850 
How Important Is My Credit Score When Applying for a Loan?

Your credit score is a critical factor when applying for a loan, but it isn’t the only thing that matters. While your credit score influences the amount you’re able to borrow and the interest rate of your loan, other important factors include your employment history and debt-to-income ratio.

How Can I Reach a 700 Credit Score?

Your credit score is calculated via the following factors:

  • Payment history
  • Length of overall credit history
  • Credit mix
  • New credit
  • Amounts owed

In order to improve your credit score to 700 or above, focus on these factors. But remember that credit improvements also take time, so stay focused and be patient.

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Sarah Harris

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