What Can You Get With a 700 Credit Score?

A 700 credit score is a solid foundation for your financial future. It demonstrates responsible credit use and reliability to lenders. With this score, you can access better loan terms that save you money over time. It also means lower interest rates, helping to reduce the cost of borrowing. Plus, you’ll qualify for premium credit card offers with great rewards and benefits.

But is it truly "good," and how can you take it even higher? 

As leading credit repair experts in the industry, we’ve helped countless clients maximize their scores and financial opportunities. 

In this guide, I’ll break down what a 700 credit score means. Talking about the factors that influence it, like payment history and credit utilization. Then the steps you can take to push it into the excellent range. 

Whether you're looking to qualify for a mortgage, refinance a loan, or improve your financial standing, these insights will help you make the most of your credit score.

What Can You Get with a 700 Credit Score?

A 700 credit score is considered good and can give you access to many financial opportunities. Lenders like to see this score, which means you could get better loan terms and interest rates.

For auto loans, a 700 credit score can help you get approved more easily and qualify for lower interest rates. If you’re thinking about buying a home, this score may help you get approved for a mortgage with lower monthly payments and better rates than someone with a lower score.

With a 700 credit score, you can also apply for many credit cards. Some cards may offer low interest rates, rewards, or even 0% interest for a limited time.

Here are some things you might want to consider applying for with a 700 credit score:

• Personal Loans: Use a loan to pay off debt or cover big expenses like home repairs or a vacation.
• Credit Cards: Choose credit cards that offer cash back or rewards. Many companies will approve you with a 700 score and may offer low interest rates.
• Auto Loans: If you’re buying a car, a 700 score can help you get better rates on loans for both new and used cars.

Good Read: Questions You Should Answer Before Taking Out a Loan

A 700 credit score puts you in a good position to make financial moves, but always compare your options to find the best deals!

Is 700 Considered a Good Score?

If we look at the credit scoring model, credit scores range from 300 to 850, categorized into tiers: excellent, good, fair, and poor.

• 300-579: Poor
• 580-669: Fair
• 670-739: Good
• 740-799: Very Good
• 800-850: Excellent

A score of 700 is "Good," but improving your credit to the "Excellent" range can open even more doors. With an excellent credit score, you can access the lowest interest rates on loans and credit cards, qualify for premium rewards programs, and get approved for higher credit limits.

It can also improve your chances of securing a mortgage, renting a home, or even landing jobs where credit checks are part of the hiring process. An excellent score signals to lenders that you’re a highly reliable borrower. This gives you greater financial flexibility and savings over time.

Ready to take your 700 to the next level? See our proven credit repair process that can bump your score up.

What Affects Your Credit Score?

Knowing what affects your credit score is key to improving it. Your score shows how risky it is to lend you money. 

Here are the main things that impact it:

Payment History

This is the most important part of your score, making up 35%. Paying your bills on time helps your score. Late or missed payments can hurt your score and stay on your record for up to seven years. To keep a good score, always pay on time.

Credit Utilization

Credit utilization makes up 30% of your score. It measures how much of your credit limit you’re using. A low usage, ideally less than 10%, is good for your score. If you use more than 30% of your limit, it can hurt your score a lot. Try to keep your balances low.

Length of Credit History

The length of your credit history counts for 15% of your score. It looks at how long you’ve had your accounts. The longer you’ve had credit, the better it is for your score. A long history shows lenders that you manage credit well over time.

Credit Mix

This makes up 10% of your score. Having different types of credit, like credit cards, car loans, or mortgages, is good for your score. It shows that you can handle different kinds of debt.

New Credit

New credit is 10% of your score. Opening lots of new accounts in a short time can lower your score. Each time you apply for credit, it creates a "hard inquiry," which can temporarily hurt your score. Space out applications to avoid this.

You might be interested in: Reasons Your Credit Card Application Was Denied Even With Good Credit

To improve your score: pay bills on time, keep credit card balances low, avoid opening too many accounts, and keep old accounts open. Small, smart steps can make a big difference!

How Can I Improve My Credit Score?

Keeping a 700 credit score is great, but do you know how to make it even better? To build an even stronger score, try adding a few extra habits. For instance, consistently paying down credit card balances to keep your credit utilization below 30% can make a big difference.

My client, Sarah, had a good credit score of 710 but wanted to improve it to get a better mortgage rate. We looked at her finances and saw she was carrying a high credit card balance. We made a plan to pay it down and suggested she open a secured credit card to improve her credit mix. In just eight months, her score went up to 760! This helped her get a lower mortgage rate and save thousands of dollars. Small changes made a big difference!

Remember, Improving your credit score is a step-by-step process focused on the key factors that credit bureaus such as Experian, Equifax, and TransUnion use to calculate your score.

Here are some actionable tips to boost your credit:

• Keep an eye on your credit reports. Regularly reviewing your credit reports can help identify errors or fraudulent activities that could be negatively impacting your score. You are entitled to a free credit report from each of the three major credit reporting agencies (Equifax, Experian, TransUnion) once every 12 months.
• Diversify your credit mix. As mentioned earlier, having different types of credit accounts can positively impact your score. Consider adding a different type of account to your portfolio, such as a mortgage or car loan.
• Always pay on time. A single late payment can hurt your score significantly. Set reminders or automate payments to show consistent financial reliability.
• Keep credit utilization low. Aim to use less than 30% of your credit limit. For example, if your credit limit is $10,000, try to keep your balance below $3,000.
• Limit new credit inquiries. Only apply for new credit when absolutely necessary to avoid multiple hard checks on your report.
• Keep old accounts open. Older accounts help extend the average age of your credit history, which can positively impact your score.

Monitoring your credit regularly is our favorite. Check for errors or inaccuracies in your report and address them immediately. Mistakes like incorrect account details or late payments that were actually made on time can drag your score down unnecessarily.

Good Read: How Quickly Can You Qualify For a Mortgage 

Disputing Errors: A Powerful Way to Boost a 700 Credit Score

Did you know that even a single error on your credit report could be holding back your score?

If you spot errors on your credit report, disputing them is an important step in improving your score. The Fair Credit Reporting Act (FCRA) gives you the right to dispute any inaccurate or incomplete information.

Disputing inaccuracies is one of the most effective ways to increase your credit score. Here’s why: If you spot an error on your credit report, take action. This could be a late payment you didn’t miss, an account that isn’t yours, or outdated information. The credit bureau is legally required to investigate the issue. If the error is proven incorrect, they must remove it.

With a clean and accurate report, your score can increase by as much as 100 points or more. Nearly 1 in 5 credit reports have errors, but reviewing and disputing them could boost your credit score above 700.

Key Takeaway: Don’t let someone else’s mistake hold you back and take action and unlock your full credit potential!

When to Seek Professional Help

While you can dispute errors on your own, the process can be time-consuming and sometimes overwhelming. If you’re not sure where to start or if you’re dealing with multiple inaccuracies, you might consider working with a credit repair service. These professionals specialize in navigating the dispute process and can help ensure that errors are addressed quickly and effectively.

Don’t Let Errors Hold You Back

Your credit score is a reflection of your financial health, and you deserve to have it represented accurately. Don’t let someone else’s mistake on your credit report stand in your way. By taking action to dispute inaccuracies, you can improve your score and take control of your financial future.

Whether you’re aiming to surpass 700 or simply want to maintain a strong score, addressing errors on your credit report is a crucial step. It’s an investment in your financial well-being—one that can pay off in the form of lower interest rates, better loan terms, and greater peace of mind.

Take charge of your credit today. Review your reports, dispute errors, and unlock the financial opportunities that come with an accurate and strong credit score.