I am 20 years old soon to be 21 is 710 a good credit score for me?

Does everyone start off with a score of 830 and then it drops down or do you work your way up to a perfect score? What does my score of 710 actually mean? I do have credit cards but whenever I get a bill sent for them I always pay it off in full.
Additional Details
So does the more credit cards you have lower your credit score even if you pay them off in full all the time?

You've been given some bad advice by some of the previous writers ... or perhaps they've misled themselves into thinking a 710 is a good score. It's an OK score ... not a bad one, but far from perfect. Theoretical best score is 850, but credit experts say they've never seen anyone above 825, so the 825 is for practical purposes the highest number and 350 the lowest.

To insure the BEST interest rates, you should have a score above 750. You never really work down from the high ... it's just a calculated score. So the first time you show up on the credit radar they calculate your score and that's what it is .... from that point on you'll go up or down constantly (recalculations are done every 3 months).

It's excellent that you're paying your cards off in full each month. The unfair thing in my opinion is that the equation for calculating your FICO Score is a well guarded secret so nobody really knows what it takes to raise or lower you score or by how much. Oh sure there are a few obvious ones like paying bills on time and such .... but assuming you do everything right, it's perplexing why you'd have a score of only 710. Perhaps it's due to your limited credit history. At 20 you've only had a credit report for a maximum of 2 years ... possibly less if you didn't have any loans or other debts starting at 18. So assuming you don't have any negative issues on your report, my gut instinct is that your score is lower because you only have 1 or 2 years of credit history and that is not enough for them to make a solid assessment of your credit worthiness.

Provided you keep doing everything right, your score should continue to go up over the next 4 to 5 years. Here is a chart which shows the US Average credit scores.

Credit score Percentage
499 and below 2 percent
500-549 5 percent
550-599 8 percent
600-649 12 percent
650-699 15 percent
700-749 18 percent
750-799 27 percent
800 and above 13 percent

At 710 your score is higher than about 45 - 50 % of the US population. Plenty of room to increase.

To add on to your additional detail ... having at least 1 card is considered good .... but having multiple cards is not necessarily good or bad, but the POTENTIAL for it becoming bad is high, so you're best not carrying too many cards. The more cards you have ... the more tempted you will be to use them and start yourself down a path you don't want to go down. Now what is considered good is to have higher available credit and low balances. You should target to have NO MORE than 30% of your credit limit on a card ... but 15% is better. So to help boost your score you might consider calling your credit card company and have them raise your limit a little bit (but not too high) .... this will help your score if you can continue to have the discipline to not use your credit.

Good Luck!

1) No.
2) No. You work your way up to a perfect score.
3) It means you are not as poor as the majority but not as rich as the minority.

It's always good to pay off your debts.

If you want a higher score then just apply for more credit cards (Just don't increase your debt)

Example:
$1,000.00 in debt/$1,000.00 in credit lines (This guy is broke) 100%
$10,000 in debt/$20,000.00 in credit lines (This guy is smart) 50%
$100,000 in debt/$1,000,000.00 in credit lines(This guy is rich) 10%

Always try to get at least $1,000,000.00 in credit lines. It does not matter if you have 100 credit cards.

Always try to charge at least $150,000.00 each year.

Remember this rule:
NEVER BORROW MORE THAN 50% OF YOUR CREDIT (That's very bad for your credit)

That's great. Keep up the good work. Credit can destroy you if your not careful.

yes, very good. Now don't get any more credit and screw it up!
You're doing good, don't get overconfident and get a bunch of crap because that makes it drop down!

Your credit score is excellent. You should be able to qualify for the best rates on credit cards, loans and mortgages.

710 is a great score. Do your best to keep it there.

yes it is a very good credit score, if you apply for credit cards however it lowers

You sound like a very smart young girl. Keep it up, and be proud of yourself. I also pay my bills as they come.....Its the best way to go. Your parents raised you right. I raised my girls right too...But then they got married....Although I do love my son-in-laws.

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