A 750 score is a very good FICO Score. Only about 6 in 10 Americans have a FICO Score above 700.¹
A very good FICO score can open a lot of doors for you.
Borrowers with an excellent credit score can qualify for most credit products and get some of the best rates and terms. But even though you can expect an easy approval process with a 750 score, you should compare lenders to find the best terms for your unique situation.
Key Takeaways for a 750 Credit Score
Overview of Your
Credit Rating
A 750 credit score is a very good score that is several points higher than the average. Lenders tend to view borrowers with this type of score favorably. You are considered low risk and demonstrate a track record of good credit management.
Borrowing Options With a 750 Credit Score
Borrowers can qualify for most unsecured loans. If you need emergency cash, you could apply for a personal loan and potentially get the maximum loan amount. And if you apply for secured loans, such as auto loans or mortgages, you may get the lowest rates.
Improving a 750 Credit/FICO Score
While a 750 score is higher than the average credit score in the U.S., it’s still possible to improve it. Borrowers can work on getting a perfect credit score by keeping their credit utilization low, avoiding late payments, and keeping credit inquiries to a minimum.
Is a 750 Credit Score Good?
A 750 credit score is considered to be a very good credit score. Individuals with a higher credit score can generally expect a more straightforward approval process for financial products and the lowest rates. A 750 score demonstrates that a borrower has an exceptional credit history and can responsibly manage their finances.
What Can You Get Approved for With a 750 Credit Score?
There are numerous financing options available to borrowers that have a 750 score. If you are faced with a financial emergency or simply want to make a large purchase, take a look at some available options:
Personal Loans
A personal loan is an installment loan that borrowers can use for almost any financial emergency. These loans can be used for all kinds of expenses, such as house repairs, car repairs, emergency travel, and other unexpected expenses.
Personal loans generally provide between a few hundred dollars to a couple of thousand. If you have a 750 credit score, you could get a substantial amount with good rates. You may ask, “How long can you finance a personal loan?” The repayment length varies by lender but can extend a few months or several years.
Bank Loans
A bank loan is typically hard to get if you have low credit. But if your score is 750, then you may have no issues meeting the strict qualification requirements. Banks can generally offer decent APRS and high loan amounts.
Suppose you need a lot of money to repair your home’s roof. A loan from the bank could help you get sufficient funds. However, the downside of bank loans is that the approval process is time-consuming and requires more documentation compared to online loans.
Prime Credit Cards
Prime credit cards offer more benefits than standard credit cards, such as the lowest APRs, maximum credit limits, and better rewards.
If you have a 750 score, you could qualify for one of the following credit cards:
- Chase Sapphire Preferred® Card
- Citi Premier® Card
- American Express® Green Card
- Capital One Venture Rewards Credit Card
- Fifth Third 1% Cash/Back Card
Auto Loans
Borrowers with excellent credit may have no difficulties qualifying for an auto loan. Auto loans generally have high APRs, but you are more likely to get a low-interest rate offer if your credit is 750 or higher. A lower rate on an auto loan can help you save a lot of money, especially if you choose a longer repayment schedule.
Products to Help Maintain a 750 Credit Score
A 750 credit score is a great score to have. But remember that if you want to maintain your high credit rating, you must avoid maxing out your credit limit and carrying a lot of credit card debt.
Here are some products that can help you maintain a 750 score:
Budgeting Apps
A budget app can help borrowers keep an eye on their expenses and achieve financial goals. Monitoring your personal finances can help you maintain a good credit history. There are different apps available, and the best one for you depends on your financial focus and desired features.
- YNAB (You Need A Budget) — This budgeting app helps users track financial goals and get reports on financial habits. Users can access the app on multiple devices.
- Honeydue — This free budgeting app is ideal for couples because it improves financial transparency. Expenses can be assigned to individuals or split evenly in the app.
- Goodbudget — This app is a digital version of the envelope budgeting method. The user’s funds are split into digital envelopes for various expenses, such as rent, utilities, gas, etc.
- PocketGuard — This simple budgeting app helps users track spending. Users can enable spending limits through the app, which helps curb impulsive spending.
Monitoring Credit Reports
Monitoring your credit report from each of the credit bureaus can help you identify errors and prevent unexpected dips in your credit score. Incorrect dates or balances could decrease credit scores and affect a person’s eligibility for certain financial products.
But you can keep an eye on your credit by requesting your free annual reports through the Annual Credit Report website or by using a free credit report monitoring service, such as Credit Karma.
Autopay Feature
Many financial institutions and businesses allow automatic payments. Autopay automatically withdraws the monthly payment amount from your preferred payment method on the due date. Your payment history makes up 35% of your total FICO Score, which means that a long history of timely payments can help you increase your credit score.
Benefits of a 750 Credit Score
Take a look at some benefits you may get with very good credit scores:
Car Insurance Discounts
A 750 score may help you get additional car insurance discounts. Many car insurance companies look at credit scores when making decisions about whether to work with certain drivers. If you have a very good credit score, you may get the lowest rate on a car insurance policy.
High Loan Approval
One of the benefits of a very good score is that you have numerous financing options to choose from. When you need a new loan or line of credit, you can shop around to get the best rates, terms, and rewards.
Higher Loan Amounts and Credit Limits
A very good credit score can typically qualify for higher credit limits and loan amounts. While it’s never a good idea to borrow more money than you need, qualifying for the maximum amount a lender offers is beneficial for emergency situations. For example, the average cost of a front-end suspension repair is between $1,000 and $5,000.2 A 750 score can help you get enough money to get back on the road quickly.
Lower Interest Rates
Borrowers with very good credit scores can save a lot of money because they can usually get the lowest rates. The interest greatly affects the total cost of a loan, as well as the monthly payment amount. If you obtain a low rate, you could save hundreds on an installment loan.
How To Maintain Your 750 Credit Score
Getting your credit score up to 750 points is a wonderful accomplishment. Here are a few tips to help you maintain your current credit score and keep working towards getting an exceptional score.
Keep Credit Utilization Low
When you have a credit score as high as 750, you likely have high credit limits. While it’s tempting to take advantage of a high spending limit, remember that using more than 30% of your credit utilization can negatively affect your creditworthiness. Keep your credit card balances low to maintain your 750 score and avoid excessive credit card debt.
Avoid Applying for Too Many New Loans
You can qualify for almost any loan or credit product with a 750 score. However, too many loan inquiries can decrease your hard-earned credit score. Inquiries are sent to the major credit bureaus and will appear on credit reports. Multiple inquiries within a short period can look bad on a credit report and decrease your good credit. Get pre-approval estimates before submitting an application.
FAQs About 750 Credit Scores
Will having a credit score of 750 guarantee approval for all types of credit?
While credit scores that are 750 points or higher can open doors to many credit opportunities, approval isn’t guaranteed. Lenders also consider factors like your recurring income, employment status, payment history, and debt-to-income ratio. However, this score significantly improves your chances and usually offers better terms.
How does a longer credit history affect my 750 score?
A longer credit history provides lenders with more information to assess your financial behavior over time, potentially making your 750 score even more robust. It shows you’ve managed credit responsibly for a significant period, which can be reassuring to lenders and might help in securing better credit terms.
Is it possible to have too much credit available if my score is 750?
Having a high credit limit with a 750 score reflects well on your creditworthiness, but it’s essential to manage it wisely. Too much available credit can sometimes be seen as a risk for potential overspending.
What Interest Rate Can I Get With a 750 Credit Score?
Consumers with credit scores higher than 750 points can generally get the lowest interest rates offered by lenders. Great credit scores can help you save a lot of money because you end up paying less interest fees on lower rates.
If you recently acquired good credit, you can take advantage by refinancing or consolidating old debts with higher interest rates. A debt consolidation loan may offer lower rates than you currently have on old loans. You could use your good credit history to consolidate high-interest debt, such as credit card debt.
Can I Buy a House With a 750 Credit Score?
One of the main qualifying factors that a mortgage lender will consider is your credit score. If your score is 750, it’s highly likely that you’ll qualify for a conventional loan with a low mortgage rate. Low mortgage rates on fixed-rate loans can result in smaller, more manageable mortgage payments and greater savings.
Conventional loans are not backed by a government agency, which means you have more lending options. Most mortgage lenders do not offer government-backed loans, so you have more lenders to choose from. A conventional loan also generally provides flexibility with mortgage insurance and more repayment plans.
To better understand what loans and credit products you can get with a 650 FICO Score, check out this helpful guide:
Loan Type | Expectations with a 750 Credit Score | Possible Benefits |
Personal Loans | High approval odds with competitive interest rates. | Lower interest rates, higher loan amounts, and flexible terms. |
Car Loans | Likely eligibility for top-tier interest rates. | Lower APRs, potentially lower down payment requirements. |
Mortgages | Strong candidacy for conventional loans with favorable rates. | Lower mortgage rates, possibly reduced PMI (Private Mortgage Insurance) requirements. |
Credit Cards | Access to prime cards with excellent rewards, low APRs, and high credit limits. | Better rewards programs, lower fees, higher credit limits. |
Home Equity Loans and Lines of Credit (HELOCs) | Good prospects for approval with competitive rates. | Lower interest rates, substantial credit lines or loan amounts. |
Top 5 Resources for a 750 Credit Score
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