"Is 700 a Good Credit Score?" Do You Really Want to Know?

"Is 700 a Good Credit Score?" Do You Really Want to Know?
At this stage in the game I think we all understand that
knowing what our credit score means is important. But what
if you're in the mid-credit score range. For instance a
popular question asked "is 700 a good credit score?"
Knowing your credit score is just not enough anymore, you
must analyze what it means.

One reason many ask "is 700 a good credit score?" is
because only one-third of all American's can give an
informed answer. Sure it's better than 600, but not as good
as 800, but what does that even mean?! It's time to
investigate what all these credit score numbers mean.

When it comes to dissecting and analyzing a credit score
there are a few standard rules and a few that are quite
subjective. Is 700 a good credit score? I don't know, is
it? See, it all depends on who you ask. A national bank may
draw the line for the lowest mortgage rates at 740, where a
hometown bank may decide that when asked "is 700 a good
credit score?" to answer, "why yes!."

Credit scores are notorious for being the measuring stick
for many important life events that you will face. Trying
to rent your first place? Most likely a credit score of 700
will be more than sufficient to get the "A-OK" for the
first available apartment. It truly is amazing how many
things a person's credit score is pulled for.

Employers love to pull applicant's credit. The fact that
there is a definite number attached to one's credit gives
the impression that one's credit is an object measure of a
person's trustworthiness and responsibility. Really? Well,
o.k., I'll succeed a bit. Yes, someone with a score of 400
has a bit of 'splaining to do. But if you're flashing a
700, then yes to the questions "is 700 a good credit
score." 700 is a score to hold your head high and be proud
about. But, there are limitations even to an honorable 700.

Let's assume you're past the "getting my first apartment"
and I'm stealing mom and dad's dishes phase. Let's push it
a bit further and even assume that you've lived a bit of
life and are looking to build your financial portfolio.
Have an interest in real estate? Good for you, there are
more fantastic deals than one person could ever take
advantage. Let's ask our question now, "is 700 a good
credit score?" Yes and no.

When one begins to expand their financial power, the higher
the credit score the better, period. There are specific
home investing loans that you will need to have a credit
score of 740 or better to take advantage of. Some lenders
will require 780 for the most liberal of loans. Can't say
that I blame them. We're talking about hundreds of
thousands of dollars with minimal proof required and a low
interest rate!

Hey, I'll I said was yes to the question "is 700 a good
credit score?" I never said you couldn't do better.

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Ann Born is a writer, researcher and website designer. She
has managed websites for over 3 years including the credit
repair site http://www.officialcreditrepairtips.com and has
written 100's of articles. This article may not be
reproduced in any way without including the Author's Bio.