Search

Is a 710 Credit Score Good?

710 credit score

Wondering if a credit score of 710 is good?

A credit score of 710 is considered to be good. However, there are always ways that you can improve your credit score.

You may want to consider some of the following tips in order to improve your credit score: make on-time payments, keep your balances low, don’t open too many new accounts at once and check your credit report for errors.

In this article, We’ll breakdown the FICO credit score range, factors that impact your credit, what a 710 credit score will get approved for and finally what you can do to improve your score.

 

Understanding the Credit Score Range

FICO Credit Score Ranges

Before we talk about your 710 let’s cover some of the essentials basics. A FICO score is the credit score used by 90% of top lenders. Your credit score is a number between 300-850 that is a representation of your creditworthiness. The higher your credit score, the lower the risk you are to lenders and the more likely you are to get approved for loans and lines of credit.

So what are some good credit scores to have? Well, it really depends on who you’re asking, but as a very broad benchmark, 580 and below is considered a poor credit score and 740 and above is considered very good.

Below is a breakdown of the FICO score ranges and what it means:

  • 300-580 Bad Credit: If your credit score falls in this range, it will be difficult to get approved for any loans or lines of credit. You will probably have to pay high interest rates if you are approved.
  • 581-669 Fair Credit: If you have a credit score in this range, you will likely be approved for loans but you may have to pay higher interest rates.
  • 670-739 Good Credit: A good credit score means you’re on the right track. You should be able to get approved for most loans and lines of credit, and you’ll likely qualify for better terms and lower rate than those with lower scores.
  • 740-799 Great Credit: If you have a credit score in this range you will likely be approved for loans and will receive lower interest rates.
  • 800-850 Excellent Credit: This is the highest credit score range. If you have a score in this range, you will probably be approved for loans and will receive the lowest interest rates.

A 710 Credit Score is consider a GOOD credit scores. This means that you should have no problem getting approved for loans and credit cards. You will probably also get lower interest rates when you borrow money.

 

Credit Score Factors

Credit Score Factors

Now that we’ve established the Credit Score ranges, let’s dive into the factors go into your credit.

There are multiple factors that affect your credit rating: some good and some bad. The most important factor is your payment history, which makes up 35% of your credit score. This is followed by your credit utilization rate, which is 30% of your score. The third most important factor is the length of your credit history, accounting for 15% of your score. Finally, 10% each are allotted to your credit mix and new credit.

1) Your Payment History. This is the most important factor in your credit score. Your payment history makes up 35% of your credit score. This means that if you have a history of making late payments or missing payments, it will have a negative impact on your score. On the other hand, if you have a history of making on-time payments, it will have a positive impact on your score.

2) How Much You Owe. This is the second most important factor in your credit score. Your credit utilization is 30% of your score. This means that if you have a lot of debt, it will have a negative impact on your score. On the other hand, if you have a low amount of debt, it will have a positive impact on your score.

3) The Length Of Credit History.   This is the third most important factor in your credit score. The length of your credit history is 15% of your score. This means that if you have a long history of borrowing and repaying debt, it will have a positive impact on your score. On the other hand, if you have a short credit history, it will have a negative impact on your score.

4) The Mix Of Credit Types.  This is the fourth most important factor in your credit score. Your credit mix is 10% of your score. This means that if you have a mix of different types of debt, it will have a positive impact on your score. On the other hand, if you only have one type of debt, it will have a negative impact on your score.

5) New Credit. This is the fifth most important factor in your credit score. Your new credit is 10% of your score. This means that if you have recently applied for a lot of new credit, it will have a negative impact on your score. On the other hand, if you have not applied for any new credit, it will have a positive impact on your score.

Now that we’ve gone over the major factors that affect your credit score, let’s talk about what you can get approved for with a 710 score.

 

Getting Approved with a 710 Credit Score

Credit Cards

Getting approved for a credit card with a 710 credit score is definitely doable. However, the interest rates you’ll be offered will be a bit higher than if you had an excellent score. For this reason, it’s important to compare the different offers available to you and make sure you get the best bang for your buck.

 

Auto Loans

Getting approved for a car loan with a 710 credit score is definitely possible. Your interest rate will be higher than someone with an excellent score, but lower than someone with a bad score. Again, it’s important to compare different offers to make sure you get the best deal possible.

 

Mortgages

Getting approved for a mortgage loan with a 710 credit score is possible, but you may have to look around a bit to find a lender who’s willing to work with you. Your interest rate will be higher than someone with an excellent score, but lower than someone with a bad score. It’s important to compare different offers from the financial institutions and make sure you get the best deal possible.

 

Home Equity Loans

Home equity loans and lines of credit are also possible with a 710 credit score. However, the interest rates will be higher than someone with an excellent score. As always, it’s important to compare different offers and make sure you get the best deal possible.

 

Personal Loans

Getting a personal loan with a 710 credit score is definitely possible. In fact, you may be able to get a lower interest rate than someone with a higher credit score, depending on the lender. It’s important to compare the competitive rates offers and make sure you get the best deal possible.

As you can see, there are a number of different options available to you with a 710 credit score. While your interest rates may be higher than someone with an excellent score, you can still get approved for a variety of different loans and lines of credit. Just make sure you compare different offers to get the best deal possible.

 

Improving your 710 Credit Score

While a 710 Credit Score is considered to be a good score, there’s always room for improvement. If you’re looking to improve your score, there are a few things you can do.

It’s important to understand what’s on your credit report. You can get a free credit report by visiting AnnualCreditReport.com. You can pull all 3 major credit bureaus with no strings attached. The steps to pull your credit report are easy and link you directly with Experian, TransUnion and Equifax all in one place.

Once you’ve obtained a copy of your report, you can begin workin on on higher scores by following the steps below:

1) Improve Your Payment History. This is the most important aspect of your credit score, so if you want to get better results here, the best way is paying off any remaining debts before applying for a loan or new credit card. While it’s not possible to change history that has already passed, you can still take control of the future by improving your payment history now by making timely monthly payments.

2) Improve Your Debt Usage. This is also an important factor in your credit score. You can improve your debt usage by paying off existing debts and avoid taking on new debt. If you have a lot of debt, you may want to consider consolidating your debts into one monthly payment. Items such as credit card debt are an easy way to pay down to see a jump in your score.

3) Make Sure You Have the Right Credit Mix. This factor looks at the different types of credit you have, such as revolving credit (such as credit cards) and installment loans (such as auto loans). Having a mix of both is generally better for your score than just having one or the other. If you don’t have much credit history, you can start by applying for a few different types of credit, such as a credit card and an auto loan.

4) Don’t Open New Accounts If Possible.  Every time you apply for new credit, it results in a hard inquiry on your credit report. These inquiries can slightly lower your score, so if you’re not looking to apply for any new credit, it may be best to avoid opening any new accounts.

5) Pay Off Debt Before Adding More. It’s important to keep your credit utilization low, which means you should pay off any existing debt before adding any new debt. This will help improve your score in the long run.

6) Improve Your Score by Asking for Lower Rates. If you have a good credit score, you may be able to get better interest rates on your existing loans and credit cards. This can save you money in the long run, so it’s definitely worth asking for lower rates if you have a good credit score.

7) Improve Your Score by Using Different Lenders. If you have a good credit score, you may be able to get approved for loans and credit cards from different lenders. This can help improve your score because it will show that you’re not reliant on just one lender.

9) Improve Your Score by Remembering the Golden Rule. The golden rule of credit is to use it sparingly and always make your payments on time. If you can follow this rule, you’ll be well on your way to improving your credit score.

following these simple steps can help you improve your credit score. Just remember to keep an eye on your credit report so you can catch any errors or potential problems that may arise.

With a 710 credit score, you may have some of this covered, but it’s still important to focus on the steps above to make sure you’re doing everything you can to improve your score.

 

Credit Repair Companies

Consider using a credit repair company if you’re in the market to get a home loan or auto loan and want to take advantage of the best rate. If you have a ding on your credit report, and you’ve done everything you can to remove it, a credit repair company may be able to help.

A few companies we recommend are Credit Saint and Sky Blue Credit Repair.

 

Credit Saint

credit-saint-review

Credit Saint is a credit repair company that has been in business since 2004. They have an A+ rating with the Better Business Bureau and have helped remove charge-offs and other negative items from people’s credit reports.

Credit Saint offers a wide variety of services to help you fix most derogatory mark on your credit report, such as late payments, charge-offs, and other services.

Credit Saint can help you with credit counseling, credit monitoring, and identity theft protection.

Credit Saint has a high customer satisfaction rate and offers a money-back guarantee on all their services.

Click to Visit Credit Saint

 

Blue Sky Credit Repair

Sky Blue Credit Repair is another credit repair company that has been in business since 1989. They have an A+ rating by the Better Business Bureau and have high customer satisfaction.

Just like Credit Saint, Sky Blue Credit Repair can help you remove a charge-off along with any other delinquent account from your credit report. They also offer a money-back satisfaction guarantee on all of their services.

Both Credit Saint and Sky Blue Credit are reputable credit repair companies with a long history of helping people repair their credit. If you’re struggling to remove a charge-off from your credit report, hiring one of these professionals may be the best step for you.

Visit Sky Blue Credit Report

 

Wrapping It Up

In today’s world, credit is an ever-present component of life. It governs the terms on which we can borrow money and helps dictate what products are available to us at different prices.

A bad credit score can limit our options and make it difficult to get approved for loans, while a good credit score can open up a world of possibilities.

If you have a 710 credit score, you’re in good shape. However, there are always steps you can take to obtain a high credit score. Remember to keep an eye on your credit report and focus on the steps above to make sure you’re doing everything you can to maintain a good credit score.

Use these tips and tricks to improve your credit score so that you can take advantage of the best rates possible. A good credit score can save you money in the long run, so it’s worth taking the time to focus on your credit.

Facebook
Twitter
LinkedIn
Pinterest

Related Articles

Credit Weld is committed to providing you with the most up-to date, accurate and detailed information possible. In order for us to offer this information for free, sometimes we are compensated by various companies that we feature. This helps pay for our writers time in order to provide meaningful and helpful information to get our readers on the path to better credit. 

Regardless if a company is compensating us or not, we only accept these opportunities when the post, will be helpful or valuable to our readers and is something that fits within the context of this blog. 

Finally, our readers comes first. We only recommend products or services that we would use ourselves and have gone through a significant amount of research before posting.  If we feel this product or service is not to our standards we will not recommend solely due to  money.

You can trust that when you read any article on Credit Weld, the interest of the reader comes first and the information provided leads to one goal: Improving your credit for life.