By CreditNinja Reviewed by Matt Mayerle
Modified on May 22, 2024

A 708 credit score is considered a great credit score. With this score, you won’t be seen as a credit risk, which will make finances, particularly when borrowing funds, smoother than borrowers who have bad credit scores. 

Once you get to a 708 score, it’s important that you really think about any financial actions you take to protect your score. Continue reading to learn about the ins and outs of a 708 credit score. 

Key Takeaways for a 708 Credit Score

Overview of Your
Credit Rating

A 708 score is considered a good score. This credit score shows positive financial habits and can be helpful to have.

Borrowing Options With a
708 Credit Score

With a 708 score, you should have a wide range of borrowing options, such as credit cards, personal loans, auto loans, and more.

Maintaining a 708 Credit/FICO Score

To maintain a 708 score, you will need to follow healthy credit habits like on-time monthly payments, keep your credit utilization low, and diversify your credit mix.

Is a 708 Credit Score Good?

A 708 score is considered good, which can mean plenty of financial options. However, you’ll have to work on maintaining this score, and there is room for improvement.

What Can You Get Approved for With a 708 Credit Score?

When you have a good score, you’ll have a good amount of borrowing options; here are some that you can choose from:

Personal Loans

Personal loans are some of the most versatile loan options available; they can be used for almost any expense, come in several different amounts, and have lots of different lenders you can choose from. With good credit scores, you’ll have many personal loan options. 

Bank Loans

Bank loans are any loan that comes from a banking institution. So these can be anything from a short-term personal loan to a loan as long as a mortgage. While a 708 score should get you through the credit score eligibility part, you’ll have to fulfill the remaining requirements for whatever loan or credit card you choose. 

Credit Cards

Credit cards are pretty popular borrowing options, and they are usually the first kind of credit that most people have access to. Credit card repayment terms, including interest and APR and their rewards, can vary quite a bit. Generally, the better your credit score and credit history, the better terms and rewards you will receive with credit card options. Here are some popular choices for borrowers who have a 708 score:

  • Chase Freedom Unlimited®
  • Wells Fargo Active Cash® Card
  • Capital One Venture Rewards Credit Card
  • Wells Fargo Reflect® Card

Borrowers with good credit scores have an average of 4.5 credit card accounts.1

Car Loans

Most people use car loans, which are usually installment loans, when they are purchasing a new or used car. Because vehicles can cost thousands of dollars, financing can make sense. These secured loans provide a lot of flexibility because of the different lenders available and there being a down payment. With a 708 score, you should be able to get good repayment terms APRs, and your down payment requirements shouldn’t be more than standard.

Products To Help Maintain a 708 Credit Score

Maintaining a good score definitely requires some work; the good news is that you don’t have to go it alone; here are some products and services that can help:

A Financial Advisor 

A financial advisor can be a great tool that you can use to make sure that all your finances are in order and that you know what actions will be best. They can advise you on the best ways to organize your finances and let you know how a potential action may impact your credit scores, helping you maintain them. 

Budgeting Apps

Budgeting apps can definitely help you maintain your average credit score by working similarly as a financial advisor and helping you organize your finances. Some apps may have specific features that focus on your credit scores, such as a credit score simulator. Here are some budgeting apps that you can look into: 

  • You Need A Budget (YNAB)
  • PocketGuard
  • GoodBudget
  • Personal Capital
  • EveryDollar
  • Wally
  • Tiller Money
  • Simplifi by Quicken
  • Honeydue

A Savings Account

Savings are so important for financial health and can actually help you maintain your credit scores. When you have solid savings, you can avoid taking on unnecessary debt, which can have a ripple effect on almost every aspect of your finances, such as your budget and debt-to-income ratio. 

Benefits of a 708 Credit Score

Most of us know that a good credit score will mean good interest rates and APRs. However, there are lots of unexpected benefits that you could get with a 708 score. Here are some unexpected benefits you could get when you have an average credit score that is good:

Lower Insurance Costs

With a good average credit score, you could actually save on insurance, usually on auto and home insurance. This is because many insurance companies use credit-based insurance scores as part of their risk assessment process. And so, the higher your score, the lower the risk you will seem to insurance providers. 

More Job Opportunities 

In some states, your average credit score can come into play with employment. With a 708 score, you should be in good shape with your job applications if credit scores are involved. 

The Ability to Build Wealth 

A good average credit score allows you to build wealth through several avenues. For example, when you have good credit, you’ll be able to purchase assets like property, cars, and boats. You may also have an easier time starting your own businesses. All of these things can help you build wealth. 

How To Maintain Your 708 Credit Score

Here are some actions you can take to help maintain healthy credit scores:

Keep Your Credit Utilization Below 30%

Your credit utilization measures the amount of debt you have against your available credit. It is expressed as a percentage. If this rate goes above 30% it can be harmful to your good credit scores. So, it’s important to be mindful of this when adding new credit accounts or closing your credit accounts (which will remove those credit limits) on your credit file. 

Keep Your Payment History Perfect if Possible

No matter what credit score model you look at, the most impactful factor is payment history, whether it is the FICO credit scoring model, VantageScore, or otherwise. And it is crucial that you make payments on time with your credit accounts. Late or missed payments can remain on your credit report for up to seven years and hurt your average credit score. 

Check Your Credit Reports Often 

You can get credit reports from all three credit bureaus for free annually; however, it may be helpful to check them more often. Checking each credit report often is important because you can spot and fix any mistakes that show up, which can happen, especially if you have multiple credit accounts. Additionally, knowing exactly what is on your credit file can help you know what actions you can take or not to take to help you stay in the good credit score range. 

FAQs About 708 Credit Scores

A 708 score is generally considered good and is often above the national average credit score. Credit scores are essential indicators of your financial health and can influence lenders’ decisions.

Yes, a 708 score can positively impact your credit limit with these companies. Credit scores are a critical factor that credit card issuers consider when determining that limit. A score of 708 suggests that you’re a responsible borrower, which might lead to higher credit limits.  

Different credit scoring models can yield slightly different scores, even with the same financial information. While a 708 score is generally considered good across various models, the exact implications can vary. 

For instance, the two major credit scoring models, FICO and VantageScore weigh factors like payment history, credit utilization, and length of credit history differently. Therefore, a 708 score might be interpreted slightly differently depending on which credit scoring model is used by a lender. It’s beneficial to understand how these models work to maintain or improve your credit scores effectively.

What Interest Rate Can I Get With a 708 Credit Score?

When your score falls within good credit score ranges and you have a good credit history, your interest rates for most loans will be in the lower range. This can be a huge benefit when you have to borrow funds. Let’s take a look at the different interest rates someone may get depending on their acreage credit score range with a hypothetical personal loan. Let’s say it’s a loan for $3,000 that is for six months, whose interest ranges between 10% to 30%:


Credit Score Range

Interest Rate

Monthly Payment (Approx.)

750 and above

10% – 12%


700 – 749

12% – 15%


650 – 699

15% – 20%


600 – 649

20% – 25%


Below 600

25% – 30%


Actual payments may vary slightly due to rounding and the specific interest rate within the given range. This table illustrates a hypothetical example of how even small differences in interest rates can affect monthly payments.

Can I Buy a House With a 708 Credit Score? 

If you are thinking of buying a home, you may be wondering whether your 708 score will allow you to do that. A good score will put you in good shape when it comes to the credit qualification part of purchasing a home; however, there are lots of other factors, such as your income, length of your credit history, and your debt-to-income ratio (to name a few) that will determine mortgage loan approval. 

Top 5 Resources for a 708 Credit Score

Related Credit Scores

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  1. 708 Credit Score: Is it Good or Bad? | Experian
  2. 708 is a good credit score | WalletHub