By CreditNinja Reviewed by Matt Mayerle
Published on March 29, 2024

730 credit scores fall in the “good” credit range category.

While there are different credit scoring models, such as VantageScore credit scores vs. FICO scores, it’s the general consensus that 730 is a favorable credit score to have.

Want to know more about what it means to have a 730 score on your credit report? Good news, you’ve come to the right place!

Key Takeaways for a 730 Credit Score

Overview of Your
Credit Rating

730 is considered a good credit score. Consumers with this credit score are also on the cusp of progressing to the very good credit score range!

Borrowing Options With a
730 Credit Score

Most loan options are available for people with a 730 credit score. Terms, rates, and other loan details will depend on income and other factors.

Improving a 730
Credit/FICO Score

Consumers can boost their score and progress to the next credit tier by diversifying their credit portfolio and maintaining good financial habits.

Is 730 a Good Credit Score?

Yes! 730 is a good credit score. In fact, all scores within the range of 670 and 739 are considered good credit scores. Other credit score ranges include excellent scores between 800 and 850, very good scores between 740 and 799, fair scores between 580 and 699, and poor scores between 300 and 579.

What Can You Get Approved for With a 730 Credit Score?

Lenders and other financial institutions put a major emphasis on consumer credit when determining loan approval, interest rates, repayment terms, etc. Below are a few financial products that tend to be popular with consumers who have good credit scores. 

Personal Loans

Personal loans, often called personal installment loans, are a versatile type of loan that consumers can use for a variety of expenses. Personal loans can come with high or low loan amounts, and interest rates and terms usually depend on the applicant’s credit history. With a credit score of 730, you should be able to access a personal loan with affordable terms and rates. 

Bank Loans

Bank loans are another way consumers can access installment loans. Usually, consumers use bank loans for large purchases such as vehicle maintenance, home repairs, or debt consolidation. With a good credit score, bank loans should be pretty accessible. 

Auto Loans

Auto loans, or car loans, are a special type of financing for purchasing a vehicle. While consumers can access car loans through banks, direct lenders, and dealerships, going through the dealership may be the most convenient option, especially for good credit consumers. 

Credit Cards

A credit card is a type of revolving credit. That means account holders have renewed access to their credit limit every month. When used responsibly, credit cards can be a great way to improve your credit utilization rate and have access to extra funding for whatever reason. Just make sure to fully pay off your balance regularly to avoid accumulating too much debt or wasting money on interest rate charges.

Products To Help Maintain a 730 Credit Score

Credit monitoring and budgeting apps are two great tools that can help consumers maintain their good credit scores.

Credit Report Monitoring

When you have a good credit history, you don’t necessarily have to be checking your own credit reports every week to monitor your financial data. However, it may be a good idea to use a credit monitoring service to catch incorrect or suspicious activity. Some popular services you may consider are offered by:

  • Credit Karma
  • Aura
  • Privacy Guard
  • IdentityForce
  • MyFICO
  • Experian

Budgeting Apps

Budgeting apps can help you keep track of your bills and due payments, as well as keep tabs on your credit utilization, subscription spending habits, and more. While it’s possible to track your budget on your own, using an app can help make the process easier and may even be able to alert you to spending habits or recurring charges you weren’t aware of before.

Benefits of a 730 Credit Score

Having a higher credit score means you are a responsible borrower and a low lending risk in the eyes of most financial providers. And so, there are usually plenty of perks good credit consumers can enjoy. 

Good Credit History Makes You Attractive to Lenders

Lenders and financial institutions tend to favor consumers with good credit scores. That can mean pre-approval on loans, a faster application process when applying for rent or a mortgage, or even unexpected credit limit increases on your credit cards. 

Better Terms and Rates 

In addition to getting approved for a wide variety of financial products, you should also be able to receive favorable terms and rates when applying for loans or credit cards! 

How To Maintain Your 730 Score

Here are a few ways to maintain your good score:

Stay on Top of Your Payments

Payment history is the most important factor in determining your credit scores. So you’ll want to avoid having late or missed payments on your credit report at all costs. Tools like autopay help make it easier for people to stay on top of their payments without having to remember to submit each one manually.  

Beware of Quick Cash Loan Options

Quick cash loans like payday loans or cash advance loans are considered very risky loans for any consumer to get. This type of funding almost always comes with high rates and fees that can be extremely expensive for the borrower. On average, a payday loan of $375 will cost the borrower approximately $520 in fees.1 So, for your own financial well-being, you may want to stay away from these kinds of loans unless you know you can repay the balance right away.

Keep Credit Accounts Open

Having a longer credit history of open and active financial accounts will benefit your credit mix and prevent your score from dropping due to an account closure. 

FAQs About 730 Credit Scores

Yes, a 730 score often qualifies for balance transfer cards, potentially lowering interest on existing credit card debt.

Yes, insurers may offer lower premiums for auto and home insurance to consumers with good credit scores like 730.

Closing credit accounts can shorten your credit history on reports and may temporarily lower credit scores due to reduced available credit.

What Interest Rate Can I Get With a 730 Credit Score?

Borrowers with higher credit scores will usually be able to get approved for more convenient interest rates. However, it’s important to keep in mind that your credit score isn’t the only factor lenders consider when determining your rates on a loan or credit card. Your income, credit utilization, and other debt will play a role.

Can I Buy a House With a 730 Credit Score?

According to the credit bureau, Experian, the average credit score needed for a conventional mortgage is approximately 620.2 So, with a 730 credit score, you’re well above that minimum score.  However, even with a good credit score, finding the right type of mortgage can be a lengthy process. It’s a good idea to become familiar with the different types of mortgages right away, so you can decide which type of loan will work best for you.
Mortgage Type Key Features Pros Cons 
Fixed-Rate Mortgages Interest rate remains the same for the life of the loan. Predictable payments; Stability. Higher initial interest rates compared to ARM.
Adjustable-Rate Mortgages  Interest rate adjusts periodically based on an index. Lower initial interest rates; Potential for lower rates if interest rates decline. Payments can increase; Uncertainty in future payments.
Interest-Only Mortgages Only interest is paid for a certain period, then principal + interest. Lower initial payments; Flexibility in budgeting. Higher payments later; Not building equity during interest-only period.
Reverse Mortgages  Allows seniors to convert equity into cash without selling their home. No monthly mortgage payments; Proceeds can be used for any purpose. Reduces equity in your home; Fees and interest accumulate over time.
FHA Loans Backed by the Federal Housing Administration; Low down payments. Lower credit score requirements; Down payments as low as 3.5%. Requires mortgage insurance premiums (MIP); Limited loan amounts.
VA Loans Backed by the Department of Veterans Affairs; Available to veterans & service members. No down payment required; No private mortgage insurance (PMI). Limited to veterans, service members, and some spouses; Funding fee required.
USDA Loans Backed by the United States Department of Agriculture; For rural homebuyers. No down payment required; Lower interest rates. Geographic and income restrictions; Mortgage insurance required.
Disclaimer: This chart is intended for informational purposes only and does not constitute financial advice; please consult a financial advisor to determine the best mortgage option for your individual circumstances.

Top 5 Resources for a 730 Credit Score

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