By CreditNinja Reviewed by Matt Mayerle
Modified on March 13, 2024

A 720 credit score is a good credit score! A 720 credit score shows a lender that you have good financial habits and handle credit accounts well. With this credit rating, you can expect an array of benefits and financial products.

A 720 credit score is a good place to be with your credit scores! Below you will learn all the ins and outs of being in this credit rating along with tips on how to maintain this score. We’ll also answer some frequently asked questions that people with this credit score often ask.

Key Takeaways for a 720 Credit Score

Overview of Your
Credit Rating

A 720 score is a good credit score. This puts you in good shape with your finances.

Borrowing Options With a
720 Credit Score

With a 720 score, you will likely have a wide range of borrowing options to choose from.

Improving a 720
Credit/FICO Score

Improving a 720 score is possible, but it will need to involve a strategic approach and focus.

Is a 720 Credit Score Good?

A 720 score is a good score! And that is great news; it means you’ll likely have a smooth time with financing, borrowing funds, and beyond. Continue reading to learn more about the ins and outs of having a 720 score.

What Can You Get Approved for With a 720 Credit Score?

Having a 720 score will mean a great start when it comes to applying for financing options. Here are some loan options you may be able to consider when your credit score is in the good range.

Personal Loans

Personal loans can be found with all kinds of financial institutions, including banks, credit unions, and online lenders. With a 720 score, you should be able to go to any of these lenders for a personal loan—just be mindful of the income requirements that lenders will have.

Bank Loans

Most banks offer at least one kind of loan product. However, not everyone may be approved. However, with a good credit score, such as a 720 score, you should be able to get through the credit history or score criteria. 

Here are some examples of loans that banks may offer: 

  1. Personal loans
  2. Home equity loans
  3. Auto loans
  4. Mortgages
  5. Home equity lines of credit (HELOC)
  6. Student loans
  7. Business loans
  8. Construction loans
  9. Bridge loans
  10. Credit builder loans
  11. Debt consolidation loan options


Credit Cards

Credit cards can be found with banks, credit unions, and other independent lenders. With a 720 score, you will likely have several options that you can choose from. This can be extremely convenient because credit card rewards and costs can vary so much. Getting your pick is critical for the best fit.

Car Loans

You can find a car loan with several financial institutions, and some dealerships may offer you in-house financing. With a score of 720, you should be in good shape with auto loans, but keep in mind that there is usually some kind of down payment requirement, and income will be a significant factor with a car loan.

Products to Help Improve a 720 Credit Score

Once you get to good credit score ranges, the difficult thing may be maintenance; here are some products that can help you keep your hard-earned good score of 720.

Credit Monitoring Services

Credit monitoring services can be an extremely helpful tool when it comes to maintaining or improving your credit. Unfortunately, many people don’t check their credit reports often; in fact, a survey showed that nearly 1 in 3 Americans do not even know their credit scores!1 Credit monitoring services can alert you about any changes in your credit reports, and that can help you stay on top of maintenance. Here are some credit monitoring services out there:

  1. Experian CreditWorks℠
  2. Equifax®
  3. TransUnion Credit Monitoring
  4. Credit Karma
  5. Credit Sesame
  6. MyFICO
  7. IdentityForce®
  8. LifeLock
  9. PrivacyGuard™
  10. Identity Guard®


Autopay or automatic payments can be a lifesaver to help you maintain those healthy credit habits that got you to a 720 score. Payment history is actually the most significant factor that impacts your credit scores. Autopay can do the work of paying those bills for you. 

Diversity With Your Credit Mix 

Your credit mix is the diversity that your credit reports have with your credit accounts. If you already have a good score, diversity in your credit may be one of the main ways to improve. When it comes to maintenance, having the same kinds of accounts may hurt your scores, so diversity is vital for improvement and maintenance. 

Benefits of a 720 Credit Score

Now, let’s get to the good part! Having a 720 score and positive credit history has many benefits! Here are some of them to look forward to.

Great Interest Rates and APRs

You’ll get really good interest rates and APRs, which can save you money!

A Range of Loan Products to Choose From

Whether you need a short-term or long-term loan, with good credit, you’ll have a wide range of products to choose from. This can be super helpful when you need a specific kind of loan or want personalization.

An Easier Ability to Find a Place to Rent or Buy

With good credit comes ease with renting or buying a home. This can be a great benefit and can mean finding your dream home! 

How To Maintain Your 720 Credit Score

Here are some tips to maintain your credit score:

Avoid Cosigning, Co Borrowing, or Becoming an Authorized User

With a good credit score, you may be asked by friends or family members to cosign, co-borrow, or allow them to be an authorized user. The problem with this is that if they miss a payment, it will also impact your credit. And so, to help maintain your credit score, it’s best to avoid this.

Don’t Slack on Paying Your Bills 

To keep a 720 score, you should maintain a positive payment history that you probably already have built! Ensure your bills are paid on time. 

Avoid Unnecessary Debt

To protect your overall credit score, you should try and avoid unnecessary debt. Increasing your debt can increase your credit utilization rate, which can really hurt your credit scores.

FAQs About 720 Credit Scores

There are a few scoring models; FICO is one. Credit bureaus track your credit accounts, influencing your FICO score. A 720 FICO score indicates responsible credit management. Regular checks of your credit report from each credit bureau help you see how your accounts impact your FICO score.

If your score falls below 720, check your credit report from each credit bureau for inaccuracies and assess how you manage your credit accounts. Reducing debt and maintaining timely payments can help recover your score.

Yes, increasing your limit can improve your FICO score if it lowers your credit utilization ratio without increasing spending. Managing your credit accounts wisely and keeping utilization low is key to enhancing your FICO score from 720.

What Interest Rate Can I Get With a 720 Credit Score?

Interest rates can vary quite a bit depending on the lender, loan type, and the borrower’s finances, including their credit history and credit scores. And so specifics will be tough. However, with your credit score around 720, you should be in the good range of interest with most installment loans or revolving credit products. 

Here is a quick example with a hypothetical mortgage: let’s say the lender offers a range between 3% and 7% for a 30-year option. Let’s take a look at the ranges you could expect depending on your score:

Credit Range

Interest Rate













Below 620

6.0% – 7.0%

Remember, this is just hypothetical to show you where a good credit score could fall! Actual rates will vary.

Can I Buy a House With a 720 Credit Score? 

Going off of the example from above, let’s discuss whether buying a home is possible with a 720 score. There are more factors aside from credit scores that lenders will consider for a mortgage loan. You’ll need to meet income requirements, have an acceptable debt-to-income ratio, cover closing costs, and more. However, a 720 score with the three credit bureaus should get you through credit eligibility; the other factors will determine final approval. 

Top 5 Resources for a 720 Credit Score

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