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Credit Card Q&A: Is 720 an Excellent Credit Score?

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credit scoreMy credit score is 720. Is this an excellent FICO score? – Katie

Hi Katie, I consider an excellent credit score to be 750 or higher. A good score ranges from 700-749. So your score is considered a “good” credit score.

But you’re very close to the excellent range. Striving to attain an excellent score is well worth the effort. Here’s why: The higher your score, the better the interest rate you’ll get on a credit card. Not only that, but cards for excellent credit usually have better terms and conditions. The reward for excellent credit doesn’t stop with credit cards. An excellent credit score can also save you money on other aspects of your life. For instance, you’ll get a better rate on a car loan or lower premiums for insurance.

So how can you boost your score? There isn’t a formula that works for everyone because there are five different ingredients that go into the calculation. You might consider checking out Credit.com’s Free Credit Report Card. This has no impact on your credit score and the report gives you personal advice about how to improve your performance in the five different areas that make up your credit score.

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  • wmc-boston


    I’ve always considered it smart to pay credit card bills ‘in-full’ every month so that there is no balance carried forward. So, that’s what I do. Doing this means that there is never ANY charge for interest– therefore I’ve never paid attention to credit card rates. I am aware of not ever spending more that I can pay (as soon as the bill comes) be it $10.00 or $8,000.00.

    Given this, I wonder why credit card companies are chasing me to open new accounts.
    Is that because they earn fees on the merchant side.?

    My credit score is 814.

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