What Can I Buy With a 705 Credit Score?

705 credit score

It’s no secret that credit scores are important. In fact, they’re one of the fundamental factors that lenders use to determine if you’ll qualify for a loan or not. But what can I buy with a 705 credit score, and is 705 a good credit score? In this article, we’ll cover everything you need to know about your score and what you can actually do with a 705 credit score.

What a 705 credit score will get you

According to Experion, having a 705 credit score is considered a good score. A 705 credit score is typically good enough for people to qualify for decent interest rates on loans, home mortgages, and car loans. However, you could still have some difficulty getting approved for commercial or business financing.

Credit card with perks 

A 705 credit score is good enough to qualify you for most credit cards. 705 credit is in the “good” score range, so you can expect to get approved for most rewards cards. Credit card companies offer signing bonuses, introductory zero annual fees, 0% financing, or even zero foreign fees for those who have higher credit cards.

However, just because you’re approved for a great credit card with perks doesn’t mean you can’t have fees applied to your account if you forget to make on-time payments. An easy way to avoid credit card fees with interest is to use Pay Later (coming soon), which lets you buy things you want now and make payments for them later.


Having a 705 credit score is high enough to qualify you for most home mortgages. However, it’s important to note that having a good credit score isn’t the only factor used to approve you for a home loan. Most lenders will also consider your income, employment history, on-time payment history, the amount of debt you have, and other score details when deciding whether or not to approve you for a loan.

Better auto loan rate

Auto lenders typically offer better interest rates if you have a 740 or 799 credit score. However, having a 705 credit score is considered enough to qualify at most lenders, so you can still expect to get a decent interest rate as long as the rest of your credit portfolio and income looks solid.

Reduced auto insurance rates in some states

Some insurance companies use your credit score to determine your rate or provide a discount. If you have a 705 credit rate, you might be eligible to receive reduced auto insurance through these programs. However, this is not a guarantee in all states, so it’s essential to check if your local lenders offer any discounts for 705 credit score holders.

Personal loan

Most 705 credit score holders can qualify for a personal loan, but likely your interest rates will still be sky-high. While 705 is a decent score, you’ll need excellent credit scores to receive the best interest rates on your personal loan. With the MoneyLion Credit Builder Loan, you can qualify for up to $1,000 even if you have bad credit. Plus, you won’t need to submit to any hard credit pulls, as most personal loan companies will require.

Rent home or apartment 

Your 705 credit score will help you qualify for a rental home or apartment. However, that doesn’t mean the landlord won’t require you to put down first and last month’s rent as well as a security deposit before moving in, as well as require references to ensure you’re a solid candidate.

Lease a car 

Your credit score is one of several factors that car companies will look at before approving you for a lease agreement. 705 credit is respectable enough to get approved, and if your job and income check out, you’ll likely be able to get a decent deal on your next new ride.

8 tips to raise your 705 credit score 

While 705 is considered a good credit score, you may want to try raising it even further to ensure that you’re receiving the best possible rates for whatever financial products you need. Instead of trying to pay to fix your credit, here are a few ways to increase your 705 credit score.

1. On-time payments

The single most effective way to raise your 705 credit score is to make on-time payments. This will ensure you avoid all fees, high-interest rates, and penalties for late or missed payments.

2. Monitor credit score regularly

Consistently monitoring your credit score is an easy way to see how you’re doing and identify ways in which you can improve your credit. If you’re unsure where to start, a MoneyLion Credit Builder membership will help with 24/7 credit monitoring and reporting.

3. Keep old accounts open 

Did you know that closing your old accounts could make your credit score drop down by a significant amount of points? Make sure to keep your accounts open to avoid a plummeting credit score.

4. Report rent and utility payments

If you’re a renter or an individual that pays their bills via check, make sure you report all your rent and utility payments to the credit bureaus. These types of payments can add up quickly and help raise your score.

5. Request credit limit increase 

An easy way to increase your credit score is to ensure that you’re always requesting credit limit increases. To do this, call up your credit card company and see if they can offer any credit limit increases. You can do this as often as you want until they offer a limit increase.

6. Pay down maxed-out credit cards 

If you have several credit cards with high limits, the next step is to pay down your maxed-out credit cards so that you can lower your overall credit utilization. This will ensure that your credit score stays in good standing.

7. Pay bills on time 

Always try to ensure that you’re paying all of your bills on time. Late payments and missed payments will lower your credit score. If you need help with payments, call up the company directly to work out a payment plan.

8. Avoid hard pulls

One of the best ways to raise your credit score is to avoid hard pulls on your credit reports. A hard pull, otherwise known as a hard inquiry or hard check, occurs when a creditor attempts to look at your complete file or any part of it from one or more of the three major credit bureaus.

Get serious about your finances and credit score today

A 705 credit score is a sign of financial responsibility and excellent money management. If you’re looking for large loans, such as mortgages or car leases, you’ll need a higher credit score in order to qualify. The best way to start getting serious about your finances and credit score is to contact a financial advisor today.


What is the average credit score?

The average credit score is 711. For 20-year-olds, the average credit score rate is even lower! Thankfully, by your early 30s, the average credit score tends to increase.

Can a credit score of 705 get you a house?

Yes, having a credit score of 705 can help you get a mortgage. However, there are other factors that go into deciding if you can get a loan or not.

What is the maximum credit score?

The maximum credit score is 850.

What interest rate can I get with a 705 credit score?

With a 705 credit score, you can get interest rates between 4.68%-6.04%.


MoneyLion Pay Later loans issued by WebBank. A soft credit pull will be conducted which has no impact on your credit score. MoneyLion Pay Later loans have an annual percentage rate (APR) ranging from 19.99% – 35.99%. Terms and conditions apply.

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