A credit score of 700 is good, but there's room for improvement. Your score affects loan approvals, interest rates, and even non-lending scenarios like renting an apartment. Key factors influencing your score include payment history, credit utilization, length of credit history, credit mix, and recent activity. Improving your score involves punctual payments, maintaining low credit card balances, diversifying credit types, and avoiding excessive new credit applications. For those with no or limited credit, becoming an authorized user or applying for a secured or store credit card can help build credit. Over time, these efforts can lead to better financial opportunities and savings.
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