Is a 700 Credit Score Good? Here’s What It Actually Means

At the dealership, your eyes lock on the car you’ve wanted for what feels like forever. You picture yourself sinking into those soft leather seats. The open sunroof instantly makes you think about late-night drives, and as soon as the door swings open, that fresh new-car smell hits you. While you’re caught up imagining yourself behind the wheel, the dealer is at their desk running your credit. You try to look relaxed, taking slow sips of your coffee, but inside your chest your heart is pounding like a drum.

Then they glance up from the screen and say, “Your credit score is 700.”

In that instant, a dozen questions race through your mind. Is that good news? Bad news? Are they about to slide the keys across the desk, or tell you to go find someone to co-sign?

What Is a 700 Credit Score?

Let’s clear the air—what does a 700 credit score mean? Is it the financial equivalent of a B+? Or is it closer to an A-minus that needs a little extra credit?

Credit scores are typically calculated using one of two major models: FICO or VantageScore, each with its own method for evaluating your financial behaviour. Both range from 300 to 850. A score of 700 falls into the “Good” category. It’s not quite “Excellent,” but it’s far from “Poor.” Think of it as solid middle ground—enough to get lenders to trust you, even if it doesn’t always qualify you for the best deals.

According to Experian, a leading credit bureau, around 21% of Americans have credit scores hovering right around 700. That means it’s pretty standard—but still strong enough to provide you with options.

Now, here’s the twist. Scoring models can vary slightly depending on the version used and which bureau is providing your information. One lender might see a 702, another might catch a 695. That’s normal.

So yes, 700 is solid. But understanding where it lands on the spectrum helps you know exactly what doors it opens—and which ones still need a little nudge.

Is 700 a Good Credit Score? Let’s Get Honest

Let’s be real. You’re probably asking yourself whether a 700 credit score is actually good or if you’re just stuck somewhere in the middle—not bad, but not great either.

The simple answer is this: a 700 credit score is solid. It’s above average and shows that you’ve been responsible with your payments and handled your debts reasonably well. Most lenders will look at that number and nod in approval. But does it blow them away? Not always.

The Pros of a 700 Score

Having a 700 score puts you well ahead of anyone stuck in the 600s. You’ll usually qualify for better interest rates than those labeled subprime, which can save you a good amount of money over time. Plus, you’ll have more leverage when negotiating—whether it’s for a car loan or renting a place. Better still, you’ll likely get approved for most mainstream credit cards and loans without too much hassle.

The Cons

But let’s not pretend 700 is the finish line for credit scores. Some lenders still want more. You may not qualify for ultra-low mortgage or auto loan rates, and those fancy travel reward credit cards with all the perks? They might go to someone with a credit score of 750 or higher. Additionally, you may require a more extensive or diverse credit history to access premium financial products.

So, is a 700 credit score good? Yes—but don’t stop there. Tools like Experian Boost can help bump your score and push you closer to financial freedom.

Can You Get a Car Loan With a 700 Credit Score?

If your credit score is around 700 and you’re thinking about getting a new car, you’re probably wondering if a loan will be a problem. The short answer: with a score like that, you’re in a good position. A 700 credit score car loan is totally within reach—and usually comes with better terms than most borrowers get. Lenders see 700 as “Good,” which means you’re not risky, but you’re not in VIP territory either.

Real Loan Examples

According to current data from Bankrate, borrowers with a score around 700 typically get auto loan APRs between 6.5% and 8%, depending on the lender and loan term. Not too shabby. You’ll also enjoy more down payment flexibility, especially if your income checks out. With proof of steady income, your approval odds climb even higher.

Tips to Get the Best Deal

Want to save even more? First, shop around. Don’t settle for the initial deal the dealership throws at you. Use auto loan comparison tools to see what’s out there. Knowing your credit score is helpful, and a score of 700 typically places you in the “prime” category. And finally, prequalify without hurting your credit score using platforms like LendingTree. It lets you explore your options without committing.

Bottom line: A 700 credit score car loan won’t just get you on the road—it can help you drive off with confidence and a little extra cash in your pocket.

Related article: What Can You Get with a 700 Credit Score? (Loans, Credit Cards, and More)

How to Go From 700 to Excellent

If your credit score is sitting at 700, you’re in a good place. But moving up to “excellent” means playing the long game with steady habits—not quick fixes.

The biggest thing you can do is pay every bill on time. Even one missed payment can drag your score down more than you’d expect. Setting up auto-pay or phone reminders can keep that from happening.

Another thing to watch is how much of your credit limit you’re using. Try to stay under 30% of your total limit, and if you want to push your score higher, keeping it below 10% works even better. Tools like Credit Sesame make it easier to keep an eye on this.

Don’t shut down your oldest credit cards either. The longer your credit history, the more it shows lenders you’re reliable over time.

And one more tip: services like Experian Boost let you add things like rent and utility payments to your credit file. It’s an easy way to get some extra points from bills you’re already paying.

If you want more ideas, NerdWallet has some solid advice on building your score step by step. Improving your credit takes patience, but the benefits definitely make it worth the effort.

Real People. Real 700 Score Stories

A few years ago, Jason was 29 and had a credit score just over 600. His credit report was a mess — maxed-out cards, an old medical bill he forgot about, and some late payments he couldn’t fix. No matter what he did, that “bad credit” label stuck with him.

Then he made one smart move: he focused all his energy on paying down a single high-interest credit card. It wasn’t easy. He picked up freelance gigs, skipped takeout, and funnelled every extra dollar into that balance. Within three months, his credit utilisation dropped dramatically. In six months, his score crossed 700.

That one win gave him momentum—and confidence. Today, he’s sitting at 735, has a reliable rewards card, and just financed a car on his own terms.

Summary: What a 700 Credit Score Means for You

A credit score of 700 is a strong place to be. It’s not perfect, but it shows you’ve been handling things well and making progress. With that score, most lenders and banks see you as low risk, so getting approved for credit cards, loans, or financing is usually much easier.

Sure, you might not qualify for the absolute best interest rates or premium rewards cards—but you’re close. Really close. By sticking to a few simple habits—paying bills early, using only a small part of your available credit, and keeping old accounts open—you can often raise your score by 50 points or more in a matter of months.

A score of 700 is a solid starting point. You’ve already done the hard work of building a good base. From here, it’s about staying steady and pushing it higher. Your future self, and your bank account, will be glad you did.

FAQs

Is a 700 credit score considered good or bad?

A 700 credit score is generally considered good by most lenders. It shows that you've been responsible with your credit and you're well above average. It’s not “excellent,” but it definitely puts you in a favorable position for loans, credit cards, and financing. You’re not risky—you’re reliable.

What can I do with a 700 credit score?

A 700 credit score gives you access to a wide range of financial opportunities. You can qualify for most car loans, personal loans, and standard credit cards. You’ll likely get decent interest rates too. While you may not get elite perks or ultra-low APRs, you’re still in a solid zone with room to negotiate and improve.

How long does it take to go from 700 to 750?

That depends on your habits. If you’re paying bills on time, keeping your credit utilization low, and avoiding new hard inquiries, you could see that jump in 3 to 6 months. A score increase is absolutely possible with focus and consistency.

Can a 700 credit score get me a house?

Yes, it can. A 700 credit score is typically good enough to qualify for a mortgage. You may not get the lowest rates in the market, but you’ll still have access to competitive terms, especially with solid income and a healthy down payment.