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714 Credit Score: Is It Good Or Bad (+ Can I Fix It)?

  • A 714 credit score is good, but you can miss out on the best rates.
  • To potentially improve your score, fix errors and manage your credit wisely.
  • Call The Credit Pros for tailored strategies to help you potentially boost your score and improve your financial health.

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A 714 credit score is solid, but it’s smart to aim higher! With this score, you can access decent loan rates and credit cards, but you miss out on the best rates. To boost your score, diversify your credit mix, keep your utilization below 30%, and ensure timely payments. You can see improvements within 30 days by fixing errors on your credit report and managing your debt consistently.

If you want to improve your financial health, call The Credit Pros. We analyze your 3-bureau credit report and help you with strategies tailored to your unique situation. Every little point counts, and we’re here to support your journey to a better score. Let’s chat and get you moving toward that goal!

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    Why Is My Credit Score Only 714 (And Not Perfect)?

    Your credit score of 714 is good, but not perfect. Perfect scores are typically around 850. Here are some reasons why your score may not be higher:

    • Credit Mix: A diverse mix of credit types, including installment loans and revolving credit, can boost your score. A limited mix can hold your score back.

    • Payment History: Even if you pay on time, past late payments can still impact your score. Consistency in on-time payments helps improve your score over time.

    • Credit Utilization: Aim to use less than 30% of your available credit. Regularly exceeding this limit can negatively affect your score.

    • Length of Credit History: A longer credit history tends to enhance your score. If your accounts are relatively new, this may limit your score potential.

    • Recent Hard Inquiries: Too many hard inquiries in a short timeframe can make lenders hesitant. Limit new credit applications to keep your score strong.

    To better understand your 714 score and identify specific strategies to improve it, check your detailed credit report. We advise you to explore our upcoming sections on boosting your score and understanding the benefits of your current standing, as they may provide further insights.

    To finish, focus on improving your credit mix, maintaining timely payments, managing your credit utilization, and monitoring your credit history to enhance your score and overall credit health.

    5 Best Ways To Boost A 714 Credit Score 50-100+ Points?

    To boost your 714 credit score by 50-100+ points, follow these five key strategies:

    • Check Your Credit Reports: Obtain your credit reports from Experian, Equifax, and TransUnion. Review them for errors and correct any inaccuracies immediately to avoid negative impacts on your score.

    • Make On-Time Payments: Timely payments are essential. They account for 35% of your score. Set up automatic payments for at least the minimum due, or use reminders to ensure you never miss a payment.

    • Lower Your Credit Utilization: Keep your utilization below 30%. Consider paying off your balance before your statement closing date to maintain a low reported balance.

    • Avoid Opening or Closing Multiple Accounts: Opening several accounts simultaneously can lead to multiple hard inquiries, which temporarily lower your score. Keep older accounts open to demonstrate a longer credit history.

    • Increase Your Credit Limits: Request a credit limit increase on your current cards or open a new card. This step can lower your utilization ratio and positively affect your score, as long as you don’t overspend.

    In essence, by checking your credit reports, making on-time payments, lowering your credit utilization, maintaining your accounts wisely, and increasing your credit limits, you can effectively boost your score and strengthen your financial standing.

    How Long To Improve My 714 Credit Score 50-100+ Points?

    Improving your 714 credit score by 50-100+ points can take varying amounts of time depending on your situation. If you don't have significant derogatory marks, you might see changes in as little as 30 days with effective strategies.

    To boost your score, focus on these key actions:

    • Reduce your credit utilization by keeping it below 30% of your total credit limit across all cards.
    • Pay down your balances to near zero before your billing cycle closes to maintain a low reported balance.
    • If you've missed payments in the past, consistently paying your bills on time will help offset their impact over time.

    It's also essential to regularly check your credit report for errors. Disputing inaccuracies can lead to a quicker score improvement. Staying proactive about your financial habits is crucial.

    To wrap up, commit to paying down your balances, checking for report errors, and maintaining on-time payments to see significant improvements in your credit score. You can realistically expect a score increase within a month or so with these strategies.

    Can I Get The Best Mortgage Rates With A 714 Credit Score?

    Yes, you can get the best mortgage rates with a 714 credit score. A score of 714 is classified as "good," which most lenders consider favorable for mortgage options. Generally, scores above 680 are categorized as good credit. However, to access the best rates, you typically need a score of 740 or higher.

    To boost your chances for better rates, take these actionable steps:

    • Make timely payments to maintain a positive credit history.
    • Reduce your credit utilization ratio to show responsible credit use.
    • Regularly check your credit report for inaccuracies that could affect your score.

    Lenders also evaluate your overall financial profile. Your income, employment history, and existing debts play crucial roles in their decisions regarding mortgage eligibility and interest rates.

    On the whole, focusing on improving your credit score and managing your finances can help you secure better mortgage terms.

    Inaccuracies hurting your Credit Score?
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    By clicking ‘Get Started’ I agree by electronic signature to: (1) be contacted by The Credit Pros by a live agent, artificial or prerecorded voice, and SMS text at my residential or cellular number, dialed manually or by autodialer even if my phone number is on a do-not-call registry (consent to be contacted is not a condition to purchase services); and (2) the Privacy Policy and Terms of Use.

    Any Practical Benefits Of A 714 Credit Score

    A 714 credit score offers you several practical benefits that can greatly improve your financial situation.

    • You are considered a low-risk borrower. Lenders view your score positively, enhancing your chances of getting approved for loans and credit cards.

    • With a 714 credit score, you qualify for favorable interest rates, usually better than those with lower scores. This means you spend less on interest over time.

    • Your score boosts your negotiating power. You can ask for lower interest rates or better terms, making you a strong candidate in discussions.

    • A 714 score simplifies renting. Many landlords check credit scores, and yours signals reliability, making rental applications smoother.

    • Additionally, you gain access to a wider range of financial products. You can find credit cards that offer rewards, lower fees, and better terms tailored for those with good credit.

    Bottom line: A 714 credit score opens doors for you, allowing easier loan approvals, better rates, and greater negotiating power. Focus on strategies to improve your score further for even more benefits.

    Can I Get Good Personal Loan Rates With A 714 Credit Score?

    Yes, you can get good personal loan rates with a 714 credit score. Lenders typically regard a score of 714 as "good," which increases your chances of qualifying for various personal loan options. However, since your score is not in the "excellent" range, you might miss out on the very best rates and terms.

    To improve your chances of securing a favorable rate, consider these steps:

    • Review your credit report for errors and dispute any inaccuracies promptly.
    • Maintain a low credit utilization ratio by paying down existing debts.
    • Make all payments on time to build a positive credit history.
    • Apply for a loan amount that you can comfortably repay.

    These actions can help you during the loan process. Lenders often look for responsible credit use and repayment ability. Explore multiple lenders, as rates and terms can vary widely based on their individual criteria. With your 714 credit score, you should have access to a broad selection of personal loans with decent rates.

    In a nutshell, you can secure good loan rates with your credit score by correcting errors, maintaining low debt, making timely payments, and shopping around for the best options.

    Can I Buy Or Lease A Car With A 714 Credit Score?

    Yes, you can buy or lease a car with a 714 credit score. This score is in the "good" range, which most lenders recognize positively. You typically qualify for auto loans and leases, although the interest rates may not be the lowest available.

    When you apply, lenders will look at your complete financial situation, including your income and debt-to-income ratio. Most lenders approve loans with scores starting at 661, so you’re in a strong position. Remember, a higher credit score means lower interest rates, which helps you save money over time.

    For leasing, there isn't a strict minimum credit score requirement, but higher scores lead to better terms. With a 714 score, you can negotiate favorable leases but might face slightly higher rates than someone with a score above 760.

    All in all, a credit score of 714 significantly boosts your chances of securing financing for buying or leasing a car. Maintaining a healthy credit profile can further enhance your options, so consider ways to improve your credit if needed.

    Credit Card (Secured Or Unsecured) Options With A 714 Credit Score?

    With a credit score of 714, you have great options for secured and unsecured credit cards. You likely qualify for unsecured credit cards, which don’t require a security deposit. Many banks provide standard credit cards with favorable terms, typically offering interest rates between 13.5 to 16.5 percent.

    If you prefer secured credit cards, these require a cash deposit that acts as your credit limit. Secured cards can enhance your credit score by reporting your payment history to credit bureaus, helping you build credit if your score isn't where you want it to be.

    To choose the right card, compare different offers. Focus on interest rates, fees, and rewards programs to discover what fits your needs best. While a 714 credit score is good, it may not secure the absolute best rates or rewards available.

    If you want specific card options, consider the Discover it Secured Card or the Capital One Secured Mastercard. These are popular choices for building or improving your credit score.

    The gist of it is that with a 714 credit score, both secured and unsecured credit card options are available. We advise you to explore different offers, focusing on the best terms to suit your financial goals.

    Inaccuracies hurting your Credit Score?
    Securely review your full 3-bureau Credit Report (with a real expert).

    By clicking ‘Get Started’ I agree by electronic signature to: (1) be contacted by The Credit Pros by a live agent, artificial or prerecorded voice, and SMS text at my residential or cellular number, dialed manually or by autodialer even if my phone number is on a do-not-call registry (consent to be contacted is not a condition to purchase services); and (2) the Privacy Policy and Terms of Use.

    Should I Become An Authorized User If I Want To Boost My 'Good' Credit Score

    Yes, you should consider becoming an authorized user to boost your 'good' credit score. When you do this, you can benefit from the primary account holder's positive payment history, which can significantly enhance your credit score.

    Here’s how it works:

    • You aren't responsible for paying the credit card bill; the primary account holder is. This setup allows you to build a credit history without the pressure of payment obligations.

    • If the primary cardholder manages their account well, their positive behavior reflects on your credit report. This can lead to a notable increase in your credit score.

    • Research shows that many individuals see score improvements when they become authorized users. For example, people with fair credit scores improved nearly 11% within three months.

    However, keep these important factors in mind:

    • Make sure the account holder has a solid credit history. If they miss payments or have high credit utilization, it could negatively impact your credit score.

    • Not all credit card issuers report authorized user accounts to credit bureaus. Check if the issuer reports these accounts. If they don’t, you won’t see any improvement in your score.

    • Be selective when choosing who to partner with. Opt for someone with a long history of responsible credit use, like a trusted parent or friend.

    Remember, by becoming an authorized user on a responsible person's credit account, you have a chance to boost your credit score. Prioritize choosing the right account holder and verify their credit practices to maximize your benefits.

    Which Negative Marks On My Credit Report Affect My 714 Credit Score?

    Negative marks on your credit report can impact your 714 credit score significantly. The most common issues include late payments, high debt levels, accounts in collections, bankruptcies, and foreclosures.

    You should know that late payments are particularly harmful; just one missed payment can drop your score. High credit utilization—using too much of your available credit—also hurts your score. You should aim to keep your credit card balances well below your limits.

    When an account goes into collections, it signals to lenders that you have not paid your bills, raising a red flag. Bankruptcies and foreclosures can have long-lasting effects, lingering on your report for up to seven to ten years.

    To improve your credit score over time, address these negative marks. Make payments on time and reduce your overall debt. You may also want to explore how quickly you can see improvements or whether paying off debts can positively affect your score. Tracking these negative marks is essential, as they show you how to enhance your 714 credit score effectively.

    At the end of the day, focus on making timely payments, lowering your debt, and monitoring your credit report to boost your credit score. You have the power to improve your financial standing!

    Should I Negotiate And Pay Off Debts To Improve My 'Good' Credit Score?

    Yes, you should negotiate and pay off debts to improve your 'good' credit score. Settling debts reduces your overall debt burden, significantly impacting your credit score. When you lower what you owe, your credit utilization ratio decreases, positively influencing your score.

    However, weigh the potential downsides. Debt settlement usually leaves a negative mark on your credit report, as it alters the original credit agreement. Creditors may report settled debts as "paid-settled," which could cause an initial drop in your score. You need to assess these consequences against the benefits of becoming debt-free.

    If you feel confident, negotiate directly with your creditors. This approach avoids fees from debt settlement companies and can be more beneficial in the long run. Be cautious with for-profit companies, as they can lead to deeper financial issues if not managed properly.

    Lastly, while negotiating and paying off debts is advisable, carefully consider your financial situation. The initial hit to your score may be temporary, outweighed by long-term gains, especially if it helps you prevent future missed payments.

    Best Site To Monitor My Credit Report?

    The best site to monitor your credit report includes Experian, CreditWise from Capital One, and NerdWallet. Each platform offers unique benefits to help you keep track of your credit health.

    1. Experian: Sign up for their free credit monitoring service to receive alerts about changes on your Experian credit report. There’s no need for a credit card. They also provide a one-time dark web surveillance report to check if your personal information is at risk online.

    2. CreditWise from Capital One: Access this free service, even if you aren’t a Capital One customer. It features dark web scanning and alerts for any changes to your credit profile, ensuring comprehensive protection.

    3. NerdWallet: Get your free credit score and track changes in your credit report. You receive actionable insights and alerts, helping you manage your credit effectively.

    You can choose any of these platforms to stay updated on your credit without incurring costs. Each service helps you monitor your score and identify potential fraud. Finally, remember to explore additional resources to strengthen your credit score, like "5 best ways to boost a 714 credit score.

    Inaccuracies hurting your Credit Score?
    Securely review your full 3-bureau Credit Report (with a real expert).

    By clicking ‘Get Started’ I agree by electronic signature to: (1) be contacted by The Credit Pros by a live agent, artificial or prerecorded voice, and SMS text at my residential or cellular number, dialed manually or by autodialer even if my phone number is on a do-not-call registry (consent to be contacted is not a condition to purchase services); and (2) the Privacy Policy and Terms of Use.

    Should I Consider A Credit Builder Loan W/ 'Good' Credit?

    Yes, you should consider a credit builder loan, even with 'good' credit like your 714 score. These loans can enhance your credit profile, even if they mainly target those with low or no credit history.

    A credit builder loan helps you establish a stronger payment history through consistent on-time payments. Since payment history accounts for 35% of your credit score, your monthly payments will be reported to major credit bureaus, gradually boosting your score.

    However, weigh the costs. You will pay interest on the loan, making the total repayment higher than the initial loan amount. These loans typically have terms of 6 to 24 months.

    If you move forward, choose a loan that reports to all three credit bureaus: Experian, TransUnion, and Equifax. Look for a lender with a reasonable APR and low fees. Ensure that you can manage the monthly payments to avoid late fees that could negatively impact your score.

    Big picture - even with established credit history, a credit builder loan can fortify your profile, improving your chances for better loan approvals and credit cards in the future.

    Is A 714 Credit Score Different Between Fico And Vantage?

    A 714 credit score can differ between FICO and VantageScore systems. Both models assess the same types of credit information but score it differently.

    You should know that FICO, used by 90% of lenders, emphasizes payment history, amounts owed, and the length of credit history. On the other hand, VantageScore considers factors like rent and utility payments, which FICO does not. If you have a solid history with non-traditional payments, your score might be higher with VantageScore.

    FICO uses specific categories and weights for scoring, while VantageScore groups data differently and doesn't disclose exact weights.

    Both systems categorize a 714 score as "Good" credit. However, the scoring variance means your actual score can change based on which model the lender utilizes. Understanding these differences can empower you when applying for loans or credit.

    Overall, keep in mind that a 714 credit score is solid in both systems, but your approach may differ based on the scoring model. For further improvement, check out our sections on enhancing your credit score and securing favorable loan rates.

    Does My 714 Credit Score Affect My Chance To Rent An Apartment?

    Yes, your 714 credit score affects your chances of renting an apartment. A score of 714 is considered "good" (670-739), which is generally acceptable for most landlords. However, specific requirements may vary.

    Here’s how your score impacts your rental application:

    • Most landlords typically look for scores above 650.
    • A score of 714 shows you are financially reliable and strengthens your application.
    • Additionally, landlords consider other factors, such as your income and rental history.
    • A solid credit score may even lead to lower security deposits or better lease terms.

    As a final point, while a 714 score is beneficial, remember that landlord criteria vary. Before applying, check your credit report for any inaccuracies that might affect your chances.

    Can A Credit Repair Company Actually Boost My 'Good' Score Any Further

    A credit repair company can help you boost your good credit score, but there are limitations. These companies focus on correcting inaccuracies on your credit report. If they find errors, they can dispute them for you, potentially improving your score. However, if your score is already good, the improvement might be minimal.

    Keep in mind that credit repair companies cannot change accurate, timely information. For example, if you have missed payments or legitimate debts, they cannot remove those marks. They can assist you in managing your credit more effectively through personalized strategies.

    Opting for a credit repair service can save you time and effort. They monitor your credit and alert you to new issues. However, if you choose to pursue credit repair on your own, you can still achieve similar results without the extra fees. We advise you to weigh the costs against potential benefits carefully.

    Improving your credit score involves various strategies. If you're looking to boost your 714 credit score or need specific guidance on negative marks affecting it, we cover those topics as well in our article. Always be cautious of scams in this industry. Choose reputable companies that comply with the Credit Repair Organizations Act for genuine services.

    To put it simply, a credit repair company can help improve your score slightly by addressing inaccuracies, but if your score is already good, you might not see significant changes. You have the option to manage your credit repair efforts yourself and still achieve positive results.

    Inaccuracies hurting your Credit Score?
    Securely review your full 3-bureau Credit Report (with a real expert).

    By clicking ‘Get Started’ I agree by electronic signature to: (1) be contacted by The Credit Pros by a live agent, artificial or prerecorded voice, and SMS text at my residential or cellular number, dialed manually or by autodialer even if my phone number is on a do-not-call registry (consent to be contacted is not a condition to purchase services); and (2) the Privacy Policy and Terms of Use.

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