Lauren Smith, WalletHub Staff Writer
@laurenellesmith
A 700 credit score is not rare, considering that the average credit score is 714 and 52% of adults have a credit score of 740 or higher, according to data from Experian, one of the three major credit bureaus. Credit scores from 700 to 749 are categorized as “good” credit.
Percentage of the Population by Credit Score
| Credit Score | Population Share |
| 800-850 | 23.0% |
| 740-799 | 29.27% |
| 670-739 | 21.41% |
| 300-669 | 29.11% |
Source: Experian
How to Get a 700+ Credit Score
Pay Your Bills on Time
Your payment history is the most important factor affecting your score. In order to raise your credit score, you must pay all your bills on time. Just one late payment reported to the credit bureaus can cause your score to drop by over 100 points. Autopay can be a big help here.
Check Your Credit Report for Errors
Inaccuracies on your credit report can negatively impact your credit. It’s important to check your report regularly and dispute any errors.
Keep Your Credit Utilization Low
Your credit utilization refers to how much of your credit you use on a monthly basis. It is calculated by dividing your account balance as of your last statement date by your credit limit, and it is expressed as a percentage. While 30% and under is considered good, an ideal ratio is between 1-10%. Utilization is calculated for each of your credit cards as well as for all of them together.
Diversify Your Account Mix
Credit cards and lines of credit are considered revolving accounts, while auto loans and mortgages are categorized as installment accounts. To maximize your score, you should have a mix of both.
You can use WalletHub’s free credit score simulator to see how the credit moves you’re considering will end up affecting your credit score You can also get personalized credit-improvement tips from our analysis tool.
People also ask
Is it hard to have a 700 credit score?
Having a credit score of 700+ is not hard as long as proper budgeting is made. The hardest thing about getting up to 700 is starting off your credit journey, due to many young individuals not having a credit score for loan offices and credit card companies to approve an amount in order to build your score.
read full answer by Mykaila Meyer, MemberIs 700 a good credit score?
Yes, 700 is a good credit score. A 700 credit score typically indicates a history of on-time payments, low credit utilization, and a reasonable number of applications for new credit accounts, and it qualifies you for attractive terms on most credit cards, personal loans, mortgages and more. The “good credit” tier spans from 700 to 749.
Credit Rating by Credit Score
| Credit Score | Credit Rating |
What are the best credit cards for a 700 credit score?
The best credit card for a 700 credit score is the Chase Sapphire Preferred card because it offers 1 - 5 points per $1 spent on purchases though it has a $95 annual fee. Cardholders also get an initial bonus of 100,000 points for spending $5,000 within the first 3 months.
Best Credit Cards for a 700 Credit Score
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A 700 credit score is considered good credit, which gives you a lot of great options when picking a credit card....
read full answer by Maria Adams, Credit Cards ModeratorDid we answer your question?
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