790 Credit Score: What does it mean?

by Stable MARK | Updated: July 14, 2022
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If you have a 790 credit score, you will be able to access the best offers and rates on the market. Lenders take a variety of factors into consideration when reviewing a credit or loan application, but generally speaking, a high credit score means you have a good chance of being approved for loans and other credit products with favorable terms.

Let’s get started to understand what it means, what you can get with a 790 credit score and how to improve it.

A 790 credit FICO score
Figure 1: 790 falls within the FICO credit score range concidered very good

Twenty-five percent of all consumers have FICO Scores in the Very Good range.

Is 790 a good credit score?

Having a 790 credit score is actually very good. You will have plenty of loan options with very cheap loan costs. Lenders prefer to do business with borrowers that have Very Good credit because there is less risk the loan remains unpaid.

Why a Very Good credit score is pretty great

If you have a Very Good credit score, it means you have a history of paying your bills on time 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.

People with Very Good credit scores are attractive customers to banks and credit card issuers, who typically offer better-than-average lending terms. This may include opportunities to refinance older loans at better rates than you were able to get in years past, and chances to sign up for credit cards with enticing rewards as well as relatively low-interest rates.

31.3% is the average utilization rate among consumers with 790 credit scores.

What percentage of people have a 790 credit score

Table 1: Percentage of U.S. population having a 790 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 790 credit score?

Pulling your credit report and identifying negative items can take the first step to improving your credit score. By sending dispute letters to the relevant bureaus, you can request that these negative items be removed from your report. A repair service can help you by continuing to dispute items on your behalf until they are no longer harmful to your creditworthiness.

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

Do You Need Credit Repair?

by more serious issues

Credit Repair Companies

by minor issues

Do It Yourself

1. Maintain different types of credit

If you want to maintain a good credit score, it's important to have a mix of different types of credit accounts, including revolving credit accounts (like credit cards and store credit) and installment accounts (like mortgages, car loans, and student loans). Avoid closing old accounts, as this can also negatively impact 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. This way, you won't have to worry about forgetting a payment or being late and damaging your credit score. 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 790 tend to pay their bills on time. Late payments are only reported on 20.5% 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 unstable, even if it's not actually true. However, people with the very highest credit scores tend to keep their utilization rates much lower, often around 5%-10%. So if you're aiming for a top credit score, it's worth keeping your utilization rate down.

4. Time to build credit history is needed

The length of your credit history is an important factor in determining your credit score. Older accounts that you've had for many years can help to boost your score, while new accounts may lower it. Therefore, it's important to maintain a good mix of old and new accounts in order to keep your score strong.

5. Don't cary a lot of debt

You should always try to pay down your debt as quickly as possible, regardless of the type of debt you have. This will help you save money in the long run and improve your financial health overall. If you have a mortgage, auto loan, or personal line of credit, try to pay it off as quickly as you can.

How long does it take to get a 790 credit score?

If you have a good credit history, it won't be hard to get a high credit score. Even if you have some negative marks on your record, like a few collection accounts, they probably won't bring your score down too much. But if you're starting from scratch with weak credit, even one negative mark could put you in the 500s.

What does a 790 credit score get you?

Table 2: What can you get with a 790 credit score
Item Does 790 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

790 credit score credit card and loan options

If you have a credit score in the Very Good range (790), most lenders will be happy to work with you. But it's still important to focus on maintaining your credit status. This way, you can ensure you get the best interest rates possible.

Credit Cards For 790 Credit Score

Suitable For
Upgrade Cash Rewards Visa®
low-interest and low cost
Upgrade Cash Rewards Visa®
Capital One SavorOne Cash Rewards Credit Card
dining and entertainment
Capital One SavorOne Cash Rewards Credit Card
Discover it® Cash Back
first-year rewards
Discover it® Cash Back
Blue Cash Everyday® Card from American Express
groceries and online shopping
Blue Cash Everyday® Card from American Express
Capital One Venture Rewards Credit Card
travel redemptions
Capital One Venture Rewards Credit Card
My GM Rewards Card™
car enthusiasts
My GM Rewards Card™
Blue Cash Preferred® Card from American Express
Blue Cash Preferred® Card from American Express
Discover it® chrome
gas stations and restaurants
Discover it® chrome
Credit One Bank® Platinum X5 Visa®
rewards on internet, TV, and cellphone service
Credit One Bank® Platinum X5 Visa®
Capital One VentureOne Rewards Credit Card
flexible travel rewards
Capital One VentureOne Rewards Credit Card
Citi® Double Cash Card
flat-rate cashback
Citi® Double Cash Card
Chase Freedom Unlimited®
starter rewards card
Chase Freedom Unlimited®
Capital One Quicksilver Cash Rewards Credit Card
simple cash back
Capital One Quicksilver Cash Rewards Credit Card
Citi Rewards+® Card
rewards on small purchases
Citi Rewards+® Card

Approximately 31% of people with a 790 credit score have an auto loan as part of their credit portfolio, and 30% have a mortgage loan.

Mortgage rates for very good credit score

If you have a credit score of 790 or higher, you're eligible for any type of standard mortgage. There are a variety of different types of mortgages available to you, so you can choose the one that best fits your needs.

VA loan: If you are a current or former member of the military, or the family member of someone who is, you are eligible for a VA home loan. The US Department of Veteran Affairs guarantees these loans, making them a safe and reliable option for those who qualify.

Conventional mortgage: If your credit score is above 620, most lenders will be willing to give you a mortgage. This is the minimum score required by the Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac). Having a good credit score opens up many opportunities for you to get the financial assistance you need to buy a home. Don't miss out on this chance to own your own property – make sure your credit score is high enough to qualify for a conventional mortgage.

Jumbo loan: If you're looking for a mortgage that's larger than the maximum value that Fannie Mae and Freddie Mac will accept, a jumbo mortgage may be right for you. Even though these mortgages come with a higher risk, lenders may still be willing to give you one if your credit score is very good. So if you're in the market for a bigger home, don't let the potential for a higher interest rate deter you from considering a jumbo mortgage.

FHA loan: If you have a very good credit score, you may be eligible for maximum financing on a mortgage backed by the Federal Housing Administration (FHA). This means that you would only have to pay a 3.5% down payment. It's worth noting that you won't be able to get an FHA-backed 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, you won't be eligible if you have an outstanding judgment. You might also have a hard time qualifying if your credit history shows a foreclosure, bankruptcy, or debt settlement in the past 36 months.

Auto loans for very good credit score

People with good-to-excellent credit typically qualify for the best interest rates on auto loans. However, it is important to note that what auto lenders consider "good" credit can vary. In addition to base credit-scoring models, like FICO and VantageScore, there are also industry-specific scores that lenders could check. For example, the FICO® Auto Score.

If your credit score is 790, you will likely have an easy time getting an auto loan. Interest rates for people in this credit range are usually quite low. 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. Nevertheless, 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 790 credit score?

As a qualified borrower, you'll have plenty of options to choose from when looking for a new credit card. While you might not qualify for the absolute best rates, there are still plenty of great options available to you.

Generally speaking, the types of credit cards you can get with a credit score of 790 falls into two categories:

Secured credit cards: These cards require a security deposit, which your lender will use as collateral. The amount you put down will usually be your credit limit. Secured cards are a low-risk option if you want to build credit while ensuring that you don’t spend beyond your means.

Unsecured credit cards: These cards don’t require a deposit. Your card issuer will set your credit limit according to how creditworthy they perceive you to be. In many cases, these cards offer cash back on certain purchases and other rewards.

If you have the good financial discipline and are looking to maximize the potential rewards and credit limit available to you, then it's a good idea to open an unsecured credit card account. This is especially true if you have a "very good" credit score.

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 your 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 your utilization rates at or below 30% in order to avoid lowering your credit scores. The closer any of these rates get to 100%, the more it will hurt your credit score. The utilization rate is responsible for nearly one-third (30%) of your credit score.

Late and missed payments have a serious impact. The presence of late or missed payments on your credit history can have a significant negative impact on your credit score, accounting for more than one-third of your total score. However, you can help to improve your credit score by making a habit of paying your bills on time. Prompt payment of your bills is one of the most important factors in maintaining a good credit score, so it's worth making the effort to stay on top of your payments.

Time is on your side.If you manage your credit carefully and stay current with your payments, your credit score will tend to increase over time. In fact, if all other score factors are the same, a longer credit history will result in a higher credit score than a shorter one. If you're a new borrower, there's not much you can do to change this, other than being patient and keeping up with your bills. Length of credit history is responsible for up to 15% of your credit score.

Debt composition: The FICO credit scoring system is designed to give preference to borrowers with multiple types of credit accounts. This includes both revolving credit accounts (such as credit cards with monthly payments that vary based on your spending limit) and installment loans (like car loans, mortgages, and student loans with fixed monthly payments and set payback periods). Having a mix of different types of credit is responsible for about 10% of your credit score.

Credit applications and new credit accounts: Although it may cause your credit score to drop in the short term, applying for new credit or taking on additional debt can actually help improve your credit score in the long run. This is because credit-scoring systems will see you as being at less of a risk of not being able to pay your bills. As long as you make all your payments on time, your credit score will rebound within a few months. New credit activity can contribute up to 10% of your overall credit score. So if you're looking to improve your credit score, don't be afraid to apply for new credit or take on additional debt.

While public records appearing on your credit report can have negative impacts on your credit score, it's important to remember that not all credit reports are created equal. Entries such as bankruptcies may not appear on every credit report, so they cannot be compared to other credit-score influences in percentage terms. However, they can overshadow all other factors and severely lower your credit score. A bankruptcy, for instance, can remain on your credit report for 10 years. If there are liens or judgments on your credit report, it's in your best interest to settle them as soon as possible. By taking these steps, you can improve your credit score and get back on track financially.

Nearly 158 million Social Security numbers were exposed in 2017, which is more than eight times the number that was exposed in 2016.

Protect your credit score from fraud

Identity thieves are always on the lookout for people with good credit scores, eager to hijack their hard-won credit history. To guard against this possibility, consider using credit monitoring and identity theft protection services that can detect unauthorized credit activity. Credit monitoring and identity theft protection services with credit lock features can alert you before criminals can take out bogus loans in your name.

Credit monitoring is also useful for tracking changes in your credit scores. It can spur you to take action if your score starts to slip downward, and help you measure improvement as you work toward a FICO® Score in the Exceptional range (800-850).

Benefits of improving your score to:

800 810 820 830 840

Drawbacks of worsen your score to:

780 770 760 750 740

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