Credit scores are an excellent around three-digit mathematical image of financial health and can be move centered on your decisions. The latest FICO and you may VantageScore habits may be the two most well known borrowing from the bank scoring models.
When you find yourself there’s no top credit rating, the higher it is, the more likely you are able to obtain recognition getting loans and you can handmade cards. Keep reading more resources for exactly what a credit history out-of 700 mode, whether it’s a good or bad score, and the ways to change your credit history overall.
Just what it ways to have a credit score regarding 700
Based on studies off Experian, one of the main credit bureaus close to Equifax and you will TransUnion, the typical FICO get regarding the U.S. by 2021 try 704. This is a good score. (VantageScore’s scoring experience much the same.)
For additional framework, the five FICO rating range are as follows: 300579 is actually terrible, 580669 try reasonable, 670739 was an excellent, 740799 is very good, and you may 800850 is actually a keen “excellent” credit history. You cannot enjoys a credit history more than 850.
Could it possibly be advisable that you have a credit rating from 700?
Sure, 700 is a great credit score. That it score means you’re in a monetary condition. 700 is found on the lower avoid of FICO’s good diversity. It’s always wise to continue enhancing your rating this will not slip into brand new fair diversity instead.
Which have a score of 700 now offers usage of a wide array out of credit cards and you will money, together with auto loans, lenders, and personal money, having straight down rates.
Just what credit cards could you score with a great 700 credit history?
You’ll have accessibility perks cards, however, they are below precious metal or diamond notes that provide profiles which have up to 6 % dollars-straight back rewards.
