Is 7pt font readable?
If you really have to go tiny, the smallest font size for Business Cards is 7pt. Very small text can look good on screen but doesn't print well. Anything below that size will be unreadable to anyone.
Is 4 point font readable?
Anything smaller than 5 pt will be extremely difficult to read, unless it's all capitalized. Even then, 4 pt font is about the smallest you can go. Keep in mind that some typefaces have thinner or lighter font weights, so just because one font is legible in 5 pt doesn't necessarily mean another one will be.
Is 10 point font too small?
No, 10 pts is not necessarily too small. However, don't go any smaller because it will affect readability. Generally, a good font size for a resume is 10–12 pts. While 10 is on the low side, it's acceptable.