What does it mean to have a credit score of 720?

Your credit score is good..any thing above 700 is good and gets you rated as a AAA. just keep paying everything on time

Normobrian is a moron he is totally wrong

Nothing wrong with a 720 score, good job. However, I strongly disagree with "normobrien". My credit score is over 790, and I have ZERO balances on ANY line of credit I have, (my mortgage is paid off). Yes, I do charge, to "get the points", but pay the statement each month IN FULL.

It means you have done a good job paying all your bills and being on time with bill paying. It also means you have credit and were responsible to your creditors. It finally means that you will get pretty much a very good credit line.

It means that you LOVE debt. You love to go into debt and stay there. That is what credit scores measure. A high score means that you have the optimal number of accounts and carry balances that are in line with your income. In order to maintain that score, you MUST maintain that debt. Pay your debt off, and your score will go down.

I think most people here have answered your question. You have created more options for yourself by maintaining above average credit scores.

I'm not sure what's up normobrian's ^#(*&^^

You're doing well, but make sure you keep it up.

I also strongly disagree with the response by normobrian. I don't know his background, but it's obviously not banking, which has been my field probably since before he was born.

keep up the good work, pay bills on time and don't over extend. good job.

it means you have pretty good credit.