750 Credit Score: What does it mean?

750 credit score can help you qualify for better credit opportunities, including lower interest rates and more favorable loan terms. While lenders consider many factors when reviewing a credit or loan application, good credit scores generally lead to higher approval odds. Even if your score is good, there's always room for improvement. If you're looking to improve your chances of getting approved for credit, aim for a higher credit score.

Let’s get started to understand what it means, what you can get with a 750 credit score and how to improve it.

One out of every four consumers has a FICO® Score in the Very Good range.

Is 750 a good credit score?

If you have a credit score of 750, that's actually very good! You'll have plenty of loan options with very cheap interest rates. Lenders like to work with borrowers who have Very Good credit because it's considered less risky. So if you're looking to get a loan, having a high credit score will definitely help you out.

Why a Very Good credit score is pretty great

If you have a Very Good credit score, it means you have a history of making timely bill payments and managing your credit well. Late payments and other negative entries on your credit file are rare or non-existent, and if any appear, they are likely to be at least a few years in the past.

Banks and credit card issuers view people with Very Good credit scores as attractive customers, and typically offer them better-than-average lending terms. This may include opportunities to refinance older loans at better rates than in years past, and chances to sign up for credit cards with enticing rewards as well as relatively low-interest rates.

The average utilization rate for people with credit scores of 750 is 31.7%.

What percentage of people have a 750 credit score

Table 1: Percentage of U.S. population having a 750 credit score or more

Score range	Tier	U.S. population (%)
740-850	Very good & Excellent	46%
670-739	Good	21%
580-669	Fair	25%
300-579	Poor	16%

As you can see two-thirds of the people are in the top two tier, 67% in total. Very few of us are aware what is their status concerning credit score.

How to improve a 750 credit score?

Your credit score is important. A good credit score means you'll qualify for better interest rates on loans and be able to rent or buy a home. A bad credit score can make it difficult to get approved for anything. If your credit score is lower than you'd like, there are steps you can take to improve it. One way to improve your credit score is to pull your credit report and identify any negative items that are dragging down your score. You can then dispute those items with the credit bureau and ask for them to be removed from your report. A repair service can help you with this process and continue disputing items on your behalf until they're no longer harming your credit worthiness.

Although a 750 credit score can get us almost every loan, credit card or apartment rental.

1. Maintain different types of credit

It's important to have a good mix of different types of credit accounts open and active on your credit report in order to maintain a high credit score. This mix should include both revolving accounts, like credit cards and store credit, as well as installment accounts, such as mortgages, car loans, and student loans. You should avoid closing old accounts, even if you don't use them anymore, as this can actually lower your credit score.

2. Make on-time payments

Paying your bills on time and in full is always the best policy. Even one late payment can cause your credit score to drop significantly. You can reduce the risk of this happening by signing up for auto-payments whenever possible. Late payments lower your credit score, and the later the payment, the more damage it will do. Charge-offs, collection accounts, and bankruptcies are even more damaging to your score, so it's best to avoid them if at all possible.

Those who have a credit score of 750 tend to pay their bills on time. Late payments are only reported on 22.5% of credit reports.

3. Take care keeping utilization rate low

It's a good idea to keep your credit utilization rate below 30 percent. This is because anything higher could signal to lenders that your financial situation is a bit unstable, even if that's not actually the case. However, people with excellent credit scores tend to keep their utilization rates much lower, often around 5%-10%. So if you're aiming for the highest possible score, it's worth aiming for a lower credit utilization rate.

4. Time to build credit history is needed

Having a long credit history is one of the best ways to boost your credit score. This is because it shows that you have a track record of managing your finances responsibly. The length of your credit history is determined by the age of your oldest and newest credit accounts, as well as the average age of all of your accounts. So if you have old accounts that you've had for many years, it will help your score. On the other hand, new accounts will lower it.

5. Don't cary a lot of debt

You should try to pay off any debts you have as quickly as possible. This includes mortgage payments, auto loans, and personal lines of credit.

How long does it take to get a 750 credit score?

If you started out with good credit, this score may be easy to reach, once you remove any bad marks on your credit. Three collection accounts, for example, could drop an 800 credit score well below 600.

However, if you started out with weak credit (for example, you don’t have any revolving accounts), a single negative mark could lower you well below the 500s.

What does a 750 credit score get you?

Table 2: What can you get with a 750 credit score

Item	Does 750 credit score qualifies?
No annual fee credit card	Yes
Credit card with 0% financing	Yes
Favorite store’s credit card	Yes
No-foreign-fee credit card	Yes
Airline/Hotel credit card	Yes
Initial credit card bonus	Yes
Any credit card	No
Apartment rental	Yes
Best personal loan rate	Maybe
Best mortgage rate	No
Auto loan 0% intro rate	Maybe

750 credit score credit card and loan options

If you have a credit score in the Very Good range (750 or higher), most lenders will be happy to work with you. Your focus should be on maintaining your credit status so that you can get the best interest rates available. By doing this, you'll be in a good position to get the loan you need at a favorable interest rate.

Credit Cards For 750 Credit Score

Approximately 35% of people with a 750 credit score have an auto loan as part of their credit portfolio, and 32.5% have a mortgage loan.

Mortgage rates for very good credit score

If you have a credit score of 750, you are eligible for any type of standard mortgage. Here is a list of all the different types of mortgages you can get:

VA loan: If you are a member of the military (current or former) or the family member of someone who is, you are eligible for a VA home loan, which is backed by the US Department of Veteran Affairs.

Conventional mortgage: If your credit score is above 620, most lenders will be happy to give you a mortgage. This is because it meets the minimum score required by the Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac).

Jumbo loan: If your credit score is very good, you may be able to get a jumbo mortgage. Jumbo mortgages are larger than conventional conforming mortgages, and they exceed the maximum value that Fannie Mae and Freddie Mac will accept when buying mortgages from lenders. Because jumbo mortgages come with a higher risk, lenders will only consider giving you one if your credit score is very good.

FHA loan: If you have a very good credit score, you may be eligible for maximum financing on an FHA-backed mortgage (with a down payment as low as 3.5%). It's worth noting that you won't be able to get an FHA loan if you've had a foreclosure in the past three years or filed for chapter 7 bankruptcy in the past two years.

USDA loan: If you have two tradelines that have been open for at least 12 months in the past two years, you'll meet the credit requirements for a USDA loan. This is because your credit score is above 640. However, if you have an outstanding judgment, you won't be eligible. Additionally, if your credit history shows a foreclosure, bankruptcy, or debt settlement in the past 36 months, you may have a hard time qualifying.

Auto loans for very good credit score

Typically, the best rates for auto loans are available to people with good-to-excellent credit. However, it is important to note that what is considered "good" credit can vary among lenders. In addition to base credit-scoring models, such as FICO and VantageScore, there are also industry-specific scores that some lenders may check. For example, FICO® Auto Scores.

If your credit score is 750, you will likely have an easy time getting an auto loan. You will generally qualify for the lowest interest rates on the market. Additionally, you may even be eligible for 0% APR car loans that some new car dealers offer.

Depending on the loan term and how much you’re borrowing, the difference in the interest rates could amount to hundreds of dollars in savings. However, you could save even more by waiting until your score reaches 781-850, at which point you’ll be considered a “super-prime borrower."

Can I qualify a personal loan or credit card with a 750 credit score?

As a prime borrower, you have plenty of options when looking for a new credit card. While you might not qualify for the very best rates that card issuers reserve for people with the highest credit scores, there are still plenty of great options available to you.

Secured credit cards are a good option if you want to build your credit while ensuring that you don’t spend beyond your means. With a secured card, you put down a security deposit which your lender will use as collateral. The amount you put down is usually your credit limit.

Unsecured credit cards don’t require a deposit and in many cases offer rewards like cash back on certain purchases. With an unsecured card, your card issuer will set your credit limit according to how creditworthy they perceive you to be.

If you have a good handle on your spending, then using your "very good" credit score to open an unsecured credit card is a great idea. You can take advantage of potential rewards and a higher credit limit that comes with this type of card.

Keep on going your very Good credit history

Utilization rate on revolving credit: Your utilization rate is a measure of how close you are to "maxing out" credit card accounts. You can calculate it for each credit card account by dividing the outstanding balance by the card's borrowing limit, and then multiplying by 100 to get a percentage. You can also figure your total utilization rate by dividing the sum of all your card balances by the sum of all their spending limits (including the limits on cards with no outstanding balances).

Most experts recommend keeping utilization rates at or below 30% to avoid lowering credit scores. The closer any of these rates get to 100%, the more it hurts your credit score. Utilization rates are responsible for nearly one-third (30%) of your credit score.

Late and missed payments play a significant role. The presence of late or missed payments on your credit history will have a significant negative impact on your credit score (35%). However, you can help to improve your credit score by making a habit of paying your bills on time. So if you're looking to improve your credit score, be sure to pay your bills promptly from now on.

Time is on your side.If you manage your credit carefully and make all your payments on time, your credit score will gradually go up. In fact, if all other factors are equal, someone with a longer credit history will have a higher score than someone with a shorter one. If you're new to borrowing, the best thing you can do is be patient and keep up with your bills. Length of credit history makes up for 15% of your credit score.

Debt composition: The FICO credit scoring system gives more weight to multiple credit accounts that include both revolving credit (e.g. credit cards) and installment loans (e.g. car loans, mortgages, student loans). This is because it shows that you can handle different types of debt responsibly. Credit mix is responsible for about 10% of your credit score, so it's definitely worth considering if you're looking to improve your score.

Credit applications and new credit accounts: Although applying for new credit or taking on additional debt may cause your credit score to drop in the short term, it is typically only a small decrease. Plus, if you make all your payments on time, your score will rebound within a few months. In fact, new credit activity can make up to 10% of your overall credit score. So don't worry too much if your score dips after you open a new account or apply for a loan.

Public records can have a serious negative impact on your credit score. For example, bankruptcies can remain on your credit report for 10 years. If you have liens or judgments on your credit report, it's important to settle them as soon as possible.

In 2017, 158 million Social Security numbers were exposed, which is an increase of more than eight times the number from 2016.

Protect your credit score from fraud

If you have a Very Good credit score, you may be a target for identity thieves who want to steal your credit history. To prevent this from happening, consider using credit monitoring and identity theft protection services that can detect unauthorized credit activity. These services can also alert you before criminals can take out loans in your name, so you can take action to stop them.

In addition to protecting you from identity theft, credit monitoring is also useful for tracking changes in your credit score. If your score starts to slip, credit monitoring can help you take action to improve it. And if you're working toward a FICO® Score in the Exceptional range (800-850), credit monitoring can help you measure your progress.