A 710 credit score places you in the “good” credit range, but you may be wondering if it’s good enough to get approved for loans or credit cards. In this article, we’ll explain what a credit score of 710 means, whether it’s a good or bad score, and steps you can take to improve it.
What is Considered a Good Credit Score?
Before diving into 710 credit scores, it helps to understand credit score ranges. FICO and VantageScore, the leading scoring models, both classify scores as follows:
- 800-850: Excellent
- 740-799: Very Good
- 670-739: Good
- 580-669: Fair
- 300-579: Poor
So in terms of a “good” credit score, experts recommend aiming for at least 670 and ideally over 740. Now let’s explore what 710 means specifically.
What Does a 710 Credit Score Mean?
A 710 credit score is considered above average by both FICO and VantageScore, the two most commonly used credit scoring models.
On the FICO model’s 300 to 850 scale, a score between 670 and 739 is classified as “Good Credit.” A 710 FICO score means you have relatively low credit risk and qualify for most loans and credit cards at decent interest rates, though not always the very best terms.
On the VantageScore scale of 300 to 850, a 710 is also labeled “Good Credit.” According to VantageScore, someone with a score in the upper 600s to mid 700s has “more access to moderately-priced credit than those with Fair Credit, but less access than those with Very Good Credit.”
Is a 710 Credit Score Good or Bad? Overall, a 710 credit score is more positive than negative. It’s high enough to be approved by most lenders for credit cards and loans such as mortgages, auto loans, and student loans. However, borrowers with scores in the very good to exceptional ranges (740 to 850) will qualify for the lowest interest rates.
Here’s a quick breakdown of whether a 710 credit score is considered good or bad:
- Meets minimum requirements for most loans and credit cards
- Qualifies borrowers for average interest rates
- Demonstrates responsible credit management
- May not get the lowest interest rates or biggest loan amounts
- Higher interest rates than those with very good scores
- Reduced chances of approval for premium rewards credit cards
While a 710 is an above-average score, improving your credit further will offer advantages like lower rates and access to top rewards cards. Keep reading for tips to raise your credit score.
READ ALSO: Vital Steps to Building Business Credit
How to Improve Your Credit Score from 710 to Excellent
If your goal is to move from good credit to great credit, here are proven ways to improve your credit score:
- Lower credit utilization – Keep balances below 10% of your credit limits.
- Pay all bills on time – Prevent late payments that hurt your score.
- Limit hard inquiries – Too many can make you seem risky. Only apply for needed credit.
- Correct credit report errors – Dispute any mistakes with the credit bureaus.
- Increase credit history – Let accounts age rather than closing them.
- Sign up for credit monitoring – Patrol your reports for identity theft.
- Ask for credit limit increases – This lowers your utilization.
- Become an authorized user – Get added to a spouse or parent’s old account.
- Negotiate with creditors – Ask about goodwill adjustments to erase blemishes.
With a multi-pronged approach and some patience, you can go from a good to a great credit score. This opens the door to prime borrowing rates and credit card rewards.
A 710 credit score indicates good credit – better than fair or bad, but not excellent. You can qualify for loans and cards, but won’t get the rock-bottom interest rates or big credit limits offered to those with very high scores. Improving from 710 to the mid-700s or above takes effort and smart credit management, but offers big rewards.
Focus on positive habits like paying bills on time, lowering balances, letting accounts age, monitoring credit, and correcting errors. With diligence, you can achieve an exceptional score over 740 and unlock your best loan terms and credit card approvals.
In another related article, 10 Best Credit Cards for People with Bad Credit