760 is the new 700. Prior to the credit market collapse, you could feel pretty safe in assuming that you would get the best of everything that credit had to offer with a score above 700. You could feel confident that you had an excellent or good credit score that banks would deem attractive to obtain you as a customer. However, with the recent changes to the financial market, this safety blanket no longer exists.
As credit card companies tighten credit standards and group potential applicants into categories of lending risk, you may find yourself lumped together with other card holders who are having a difficult time. This means that if you have a score of 700, and 700 or less is shown as more being more risky based on a bank’s risk analysis – you could be affected. While a credit score of 700 isn’t anything to be discouraged about, its best to just realize that it isn’t as stellar of a score as it once was.
The best thing to do to raise your score: Pay your bill ahead of schedule and reduce your outstanding debt balances to under 25% of the available credit amount.