Your score falls within the range of scores, from 670 to 739, which are considered good. The average US FICO Score, 704, falls within the good range. Lenders view consumers with scores in the good range as acceptable borrowers, and may offer them a variety of credit repair services, though not necessarily at the lowest available interest rates.
Why Credit Score Matter?
With some of the most common credit score models, 850 is the best you can get. Sometimes, people get really hung up on that perfect score, agonizing over every point change, even if their scores are in the low 800s or high 700s. Credit scoring involves more than numbers; there is also ranges. For example, 780 and 820 are both considered excellent credit scores. Think of it like your school days: While getting 95 % of questions right may not seem as good as getting 100 % correct, both scores are probably considered As, or 4. 0 on most grade point average scales. A student who consistently gets 95 % of test answers right could end up with the same GPA as someone who always gets 100 % right.
How to improve your 700 Credit Score?
A FICO Score of 700 provides access to a broad array of loans and credit card products, but increasing your score can increase your odds of approval for an even greater number, at more affordable lending terms. Additionally, because the 700 FICO Score is at the lower end of the good range, you'll probably want to manage your score carefully to prevent dropping into the more restrictive Fair Credit Score range. The best way to determine how to improve your credit score is to check your FICO Score. Along with your score, you'll receive information about ways you can boost your score, based on specific information in your credit file. You'll find some good general score-improvement tips here.
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Resource:
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