By CreditNinja Reviewed by CreditNinja
Modified on March 27, 2024

A 745 credit score is a very good credit score. Getting to this credit score range takes a lot of work. And it usually means that you don’t have massive negative financial actions as a part of your credit history. 

About 25% of Americans have a great score in the very good credit score range.¹

With a 745 credit score, you’ll look like a responsible borrower. This will make it easier to get approved for loans and credit cards. It will also give you more financial agency, which we will discuss in this article

Key Takeaways for a 745 Credit Score

Overview of Your
Credit Rating

This is an excellent credit score! Once you do get here, you’ll likely want to focus on maintaining your credit score.

Borrowing Options With a
745 Credit Score

With this credit score, you’ll have lots of borrowing options to choose from, both loans or credit cards.

Maintaining a 745 Credit/FICO Score

Maintaining a 745 score is possible with consistent positive actions like paying bills on time and keeping debt low.

Is a 745 Credit Score Good?

A 745 credit score is better than good; it is considered a great credit score. Having a really good credit score can mean lots of financial freedom and benefits.

What Can You Get Approved for With a 745 Credit Score?

There are lots of borrowing options you could get approved for with a 745 score. Below, we’ll review some commonly used loan options and how they work. 

Personal Loans

Personal loans usually are unsecured loan options which means that they don’t involve collateral. These are installment loans, which means they are repaid in steady monthly payments until the loan is paid off in full. 

Interest rates for personal loans can vary quite a bit; when working with great credit, you can expect rates to be on the lower end. Generally, personal loan options can range from a few hundred dollars to a few thousand dollars. Repayment lengths can range from a few months up to a few years. 

Bank Loans

Bank loans are any loans that come from banking institutions. Several loan types can fall under this category, so repayment terms, lengths, and interest rates will vary quite a bit from one loan to another. Generally, banks have stricter credit report and score requirements than online lenders, but you shouldn’t have to worry about that with a good credit score. 

Here are some bank loans:

Credit Cards

Credit cards are a type of revolving credit, which means you can borrow from them multiple times until you reach your credit limit. These options can be convenient because if you need to use them, you won’t have to go through an application process as long as you already have a credit card you can use. Additionally, many credit cards come with rewards for those who use them. With good credit scores and positive credit reports you should not have to worry about approval with credit cards. 

Auto Loans

Auto loans are a type of secured lending that helps borrowers purchase a new or used vehicle. Usually, car loans span about 3 years, but they can be shorter or longer depending on the lender. Interest rates will vary as well. One unique thing about car loans is that there will be a down payment, which is usually around 20%.² Borrowers who have good credit scores should be able to find a car loan option, and their down payment requirements may not be as high as borrowers who have poor credit scores. 

Products To Help Maintain a 745 Credit Score

Here are some products that can help you maintain your good credit score:

A Credit Score Simulator 

A credit score simulator can be a great tool that can help you determine whether a potential action will have a general positive or negative effect on your credit scores and credit reports. Lots of banking and credit apps have these simulators, which already have your credit history attached to them. From here, you can see how actions like paying off debt, taking on another loan, consolidating debt, etc., can impact your credit score. One thing to keep in mind is that these simulators are estimates, but they should give a sense of whether or not a potential action will hurt your score. 

Personal Finance Apps

Personal finance apps can be an essential tool that can help you manage your money better and, in turn, help you maintain your credit scores. Some apps may also help people focus specifically on your credit score. 

Here are some commonly used personal finance apps:

  • Rocket Money 
  • YNAB (you need a budget)
  • Pocket Guard 

Debt Management Plans

Debt can impact so much of your finances. The first thing you may think of when thinking of debt is how it can add to your monthly expenses. While debt can do that, it can also help you reach milestones, help during an emergency, and allow you to acquire assets. Regardless of what role your debt is playing, having a plan to manage debt can be helpful to keep your higher credit score in its existing credit range. And so. To help your credit scores and maintain your 745 credit score, try and keep your debt low.

Benefits of a 745 Credit Score

There are lots of benefits that can come from having an average credit score that is excellent; here are some:

Lower Costs 

When you have an excellent credit score, you can save quite a bit on loans and credit cards and lots of other things such as insurance, renting, and even your phone bills. This can be a huge benefit and can mean saving lots of money with all kinds of endeavors and services.

The Best Credit Card Rewards 

Most people know that credit cards come with rewards, those rewards can include cash back, travel rewards, and discounts with certain retailers/brands. However, with an excellent credit score, you could look forward to the best rewards out there! That could mean more cash back, more travel rewards, and more savings. 

The Ability to Negotiate Terms 

A great credit score puts you in great shape to negotiate terms and rates with lenders. You can also use your excellent credit standing to save money on any existing credit accounts by requesting better terms and having the ability to waive fees. 

How To Maintain Your 745 Credit Score

Here are some tips that can help you maintain your 745 credit score:

Keep Your Credit Cards Open After Paying Them Off

After paying off credit cards, most people will close their accounts. However, doing so can increase your credit utilization ratio, which can hurt your score. And so, it’s important to keep those credit accounts open. Keep in mind that if you don’t use a credit card for a while (usually 6 months) then those accounts can close automatically.

Keep Your Debt Low 

Keeping your debt low can also be helpful when maintaining your credit score. Having a lot of debt can increase your credit utilization ratio, make it harder for you to pay your bills on time, and make it harder for you to avoid additional debt—as it can limit your ability to save. 

Pay Your Credit Accounts on Time 

One of the most important things you can do when trying to maintain or improve your credit scores is to pay your bills—more specifically, your credit accounts on time. This is because payments on your credit accounts are reported to one or more of the credit bureaus. On-time payments can be positive for your score, while late or missed payments can hurt your credit.

FAQs About 745 Credit Scores

To maintain a higher credit score, it’s recommended to check your credit reports from the three major credit bureaus at least once a year. Regular monitoring helps you identify any inaccuracies or fraudulent activities that could impact your score. Remember, you’re entitled to one free credit report (which will come with a free credit score) from each bureau every 12 months.

Yes, having multiple credit accounts, including a mix of installment loans and credit card accounts, can positively affect your average credit score. This demonstrates to lenders your ability to manage different types of credit responsibly. However, it’s crucial to maintain a good payment history across all accounts to see a beneficial impact.

While the minimum score required can vary by lender, typically, a score in the “very good” range (740-799) can help you secure a loan or credit card with competitive interest rates. Achieving a higher credit score indicates to lenders that you’re a low-risk borrower, which can lead to better loan terms.

Your payment history is the most significant factor affecting your FICO scores, accounting for 35% of your score. Consistently making on-time payments on all your credit accounts demonstrates responsible credit behavior, which can lead to a higher credit score. Conversely, late or missed payments can significantly lower your score.

A diverse credit mix can contribute positively to your credit score, as it shows lenders you can handle various types of credit responsibly. While it’s not as heavily weighted as payments, having both revolving accounts (like credit cards) and installment loans (such as auto or student loans) can help boost your average credit score above the national average.

What Interest Rate Can I Get With a 745 Credit Score?

Interest rates can vary quite a bit based on the lender, your credit history, and the loan type you take out. With a 745 credit score, you could look forward to interest rates in the lower ranges. Let’s take a look at a hypothetical example. Let’s say that a car loan has an interest range between 7% and 22%; here is what you can expect as a borrower with a great credit score:


Credit Score Category

Expected Interest Rate Range

Excellent (800 and above)

7% – 8%

Very Good (740-799)

8% – 10%

Good (670-739)

10% – 15%

Fair (580-669)

15% – 18%

Poor (below 580)

18% – 22%

Can I Buy a House With a 745 Credit Score? 

You may be able to buy a house with a 745 credit score if you are able to get through the other requirements of the home-buying process. Here are some other eligibility requirements aside from credit scores that will be a part of mortgage approval:

  • Income and employment history 
  • Your debt-to-income ratio
  • The down payment 
  • Home inspection
  • The length of your credit history and credit report 

Top 5 Resources for a 745 Credit Score

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