Where Does 700 Fall on the Credit Score Scale?
FICO scores range from 300 to 850. A 700 score falls in the "Good" range (670–739), placing you above the majority of U.S. consumers. The average FICO score in the U.S. is around 717, meaning a 700 score is just slightly below average.
The key threshold to understand: most lenders have two tiers — "good" (670–739) and "very good/excellent" (740+). Moving from 700 to 740 can unlock meaningfully better rates on mortgages, auto loans, and personal loans.
What You Can Get With a 700 Credit Score
How 700 Compares to Other Score Ranges
| Score Range | Rating | Personal Loan APR | Auto Loan APR | Mortgage APR |
|---|---|---|---|---|
| 800–850 | Exceptional | 6%–10% | 5%–6.5% | 6.5%–6.8% |
| 740–799 | Very Good | 8%–14% | 6%–8% | 6.7%–7.0% |
| 700–739 | Good ← You are here | 10%–18% | 7%–10% | 6.9%–7.2% |
| 670–699 | Good (lower) | 14%–22% | 9%–13% | 7.1%–7.5% |
| 580–669 | Fair | 18%–30% | 12%–18% | 7.5%–8.5% |
| 300–579 | Poor | 25%–36% | 15%–21% | Often declined |
The 40-point opportunity: Going from 700 to 740 can save you $50–$100/month on a mortgage and $30–$50/month on a car loan. On a $300,000 mortgage, that's $18,000+ in savings over 30 years.
How to Get From 700 to 750+ (The Fastest Path)
1. Reduce Credit Utilization Below 10%
Credit utilization (your balance divided by your credit limit) is the second most important score factor after payment history. Most people at 700 have utilization around 20–30%. Dropping below 10% can add 20–40 points. Pay down balances or request a credit limit increase.
2. Don't Apply for New Credit
Each hard inquiry costs you 2–5 points and stays on your report for 2 years. If you're trying to push from 700 to 750, avoid applying for new cards or loans for 6–12 months. Let your existing accounts age.
3. Keep Old Accounts Open
The average age of your accounts is a key factor. Closing old credit cards shortens your history and can drop your score. Even cards you don't use — keep them open with a small recurring charge (like a streaming subscription) to keep them active.
4. Dispute Any Errors
Pull your free credit reports from AnnualCreditReport.com and review all three bureaus (Equifax, Experian, TransUnion). Studies show 1 in 5 reports contain errors. Disputing and removing an error can add 20–100 points instantly.
5. Add Positive Payment History
If you have thin credit (few accounts), adding a new credit builder loan or secured card creates more positive payment history. Experian Boost can also add utility and streaming payments to your Experian file for free.
Best Products for 700 Credit Score Borrowers
- Personal loans: Best personal loans for 700 credit score — rates from 10%–18%
- Credit cards: Best credit cards for 700 credit score — most rewards cards available
- Debt consolidation: Best debt consolidation loans — consolidate at a lower rate
- Auto loans: Auto loan rates by credit score — prime tier rates available
Frequently Asked Questions
Is 700 good enough for a mortgage?
Yes. A 700 credit score qualifies you for conventional mortgages and FHA loans. However, you won't get the absolute best rates — those typically require 740+. On a $300,000 mortgage, the difference between 700 and 750 can be $50–$100/month.
How long does it take to go from 700 to 750?
With focused effort (reducing utilization, no new applications, on-time payments), most people can move from 700 to 750 within 6–12 months. The fastest lever is paying down credit card balances, which can show results within 30–60 days.
Is 700 a good credit score for a 25-year-old?
Absolutely. The average credit score for Americans in their 20s is around 680. A 700 score at 25 puts you ahead of your peers and in a strong position to reach excellent credit (750+) within a few years of responsible use.