790 is on the higher side of the very good credit range.
According to the credit bureau Experian, the average FICO score in the United States is 719.1 With a 790 credit score, you’re well above that average!
While 790 is a very good score, it’s on the cusp of improving into the “excellent” credit range. Here, you’ll learn what it means to have a FICO score of 790, and how you can work towards improving into the top credit tier!
Key Takeaways for a 790 Credit Score
Overview of Your
Credit Rating
790 is amongst the higher scores, falling in the very good credit range.
Borrowing Options With a
790 Credit Score
Most loan options are available, likely with favorable rates and terms.
Improving a 790
Credit/FICO Score
Maintain good credit by making timely payments on debts and keeping credit utilization low.
Is a 790 Credit Score Good?
Yes! When it comes to credit score ranges, 790 falls within the “very good” range. According to most credit scoring models, scores between 300 and 579 are considered poor, scores between 580 and 669 are considered fair, scores between 670 and 739 are considered good, scores between 740 and 799 are considered very good, and scores between 800 and 850 are considered excellent. So, while 790 isn’t exactly a perfect credit score, it’s pretty darn close! Experian reports that 25% of consumers have a FICO score in the “very good” credit range.2
What Can You Get Approved for With a 790 Credit Score?
Check out some potential loans you may consider if you have a credit score of 790.
Personal Loans
Personal loans encompass a few different loan types. Funding like debt consolidation loans, quick cash loans, and long-term installment loans all fall under the personal loan category. With a great credit score, you usually have the power to make your personal loans customizable, allowing you to choose your preferred loan amounts and terms. Furthermore, with a 790 credit score, you can expect some of the best rates lenders have to offer!
Bank Loans
Bank loans are typically used for large purchases like home renovations or repairs, work on a vehicle, or major debt consolidation endeavors. Since banks put a heavy emphasis on credit history when approving applicants for loans, you should have a good chance of finding approval with a 790 credit score.
Credit Cards
Like banks, credit card issuers tend to favor consumers with higher credit scores. Some popular credit cards you may enjoy with a 790 score are:
- Capital One Quicksilver Cash Rewards Credit Card
- Capital One SavorOne Cash Rewards Credit Card
- Discover it® Cash Back
- Southwest Rapid Rewards® Priority Credit Card
- World Of Hyatt Credit Card
- United Gateway℠ Card
- United℠ Business Card
Auto Loans
Car loans are financing for purchasing a new or used vehicle. Borrowers can access auto loans via a bank, direct lender, or dealership. With a great credit score like 790, it may be more convenient to get an auto loan directly from your dealer.
Products to Help Maintain a 790 Credit Score
Some products that may help maintain your credit score are:
Professional Monitoring of Your Credit Reports
In addition to reviewing credit reports on your own, it may also be a good idea to utilize professional credit monitoring services. Services like Credit Karma, MyFICO, LifeLock, IdentityForce, and Credit Sesame can provide a comprehensive review of your credit report each month and notify you of any errors, inconsistencies, or suspicious activity. That way, you can identify incorrect information on your credit report right away and fix it before your FICO scores are affected!
Budgeting Apps
App Name | Platform(s) | Price | Key Features | User Rating (Approx.) |
YNAB (You Need a Budget) | iOS, Android, Web | $14.99/month or $98.99/year | Zero-based budgeting, goal tracking, personal support | 4.8/5 |
PocketGuard | iOS, Android, Web | Free, Plus version at $7.99/month or $79.99/year | Spending limits, bill tracking, savings goals | 4.3/5 |
Good Budget | iOS, Android, Web | Free, Plus version at $7/month or $60/year | Envelope budgeting, expense tracking, income tracking | 4.6/5 |
Simplifi by Quicken | iOS, Android, Web | $3.99/month or $39.99/year after a free trial | Customizable budgets, subscription tracking, savings goals | 4.5/5 |
Disclaimer: The information provided in the table is subject to change and may vary by location; please check the respective app’s website or contact for the most current details.
Benefits of a 790 Credit Score
Having a good credit score can save you a world of hassle when it comes to navigating through the financial world. Below are just a few benefits consumers with top-notch credit scores may enjoy:
- Qualify for more products: Lenders are usually more willing to extend credit to applicants with better credit scores, so you’ll have more options available!
- More cash: With high credit scores, consumers are more likely to get approved for large loan amounts or a higher credit limit.
- Faster loan approval: You may expect special offers like pre-approval, unexpected limit increases, and speedier approval on loans and lines of credit.
How to Maintain Your 790 Score
You can maintain your credit score with the following financial habits.
Keep up Your Payment History
The most important thing you can do to maintain your credit score is to make sure you are making all your due payments on time. Payment history is the most influential factor that affects your credit score, so having a flawless history is key!
Try Not To Spend Your Full Credit Limit on Credit Cards
Each credit card, savings, and checking account you have affects your credit utilization rate. While it’s tempting to spend up to your credit limits each month, this can become a major drain on your finances. Instead, try to keep your available credit high and your balances due low.
Consider Diversifying Your Credit Mix
While applying for new credit can temporarily bring down your score, diversifying your financial portfolio can help you maintain and even improve your credit score.
FAQs About 790 Credit Scores
Can a 790 credit score impact my insurance rates?
Yes, many insurance companies use credit-based insurance scores. A higher score like 790, can lead to lower premiums on auto and homeowners insurance.
Does a 790 score guarantee loan approval?
While a 790 score improves chances, lenders also consider income, employment history, and debt-to-income ratio for loan approvals.
How often should I check my credit scores?
It’s advisable to check your FICO scores at least once a year. However, if you’re planning major financial moves, more frequent checks can help you stay informed and address any issues promptly.
What Interest Rate Can I Get With a 790 Credit Score?
Consumers with a FICO score of 790 can expect some of the best interest rates available on most loans and lines of credit. However, it’s important to keep in mind that your credit history isn’t the only factor lenders consider when setting interest rates. Other factors like income, current debts, and your financial information will also play a role.
Can I Buy a House With a 790 Credit Score?
With a very good credit score, buying a home should be attainable. The U.S. Department of Housing and Urban Development suggests taking the following steps when purchasing a home:
- Consider your budget and calculate how much you can pay on a mortgage.
- Research and learn your rights.
- Shop around for a mortgage loan.
- Review different home-buying options.
- Search for a home to purchase.
- When you find a property, make an offer on the loan.
- Get a home inspection by a professional ASAP.
- Shop for homeowners insurance.
- Sign the appropriate papers to finalize the deal.
