In summary, obtaining a very good or excellent score can lead to access to some of the best deals and prices available. Excellent credit scores typically indicate you have a good chance of being approved for loans and other credit products with favorable terms, though lenders take a number of factors into account when evaluating a credit or loan application. Editorial Note: Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect.
We think its important for you to understand how we make money. Its pretty simple, actually. The offers for financial products you see on our platform come from companies who pay us. The money we make enables us to produce our other fantastic tools and instructional materials as well as to provide you with free credit scores and reports.
Compensation may factor into how and where products appear on our platform (and in what order). However, since the majority of our revenue comes from the offers you accept, we make an effort to present you with offers we believe are a good fit for you. Thats why we provide features like your Approval Odds and savings estimates.
Naturally, not all financial products are represented by the offers on our platform, but our aim is to present you with as many excellent options as possible.
A 750 FICO score is considered excellent on commonly used FICO and VantageScore scales which range from 300 to 850. This score puts you in the top 25% of consumers meaning you’re in good shape when it comes to borrowing money.
However there are a few things to keep in mind:
- If you’re new to credit, a high score isn’t always enough. The length of your credit history and how much debt you carry relative to your income also matter.
- Different lenders may have different score requirements. Some lenders may consider a 750 to be excellent, while others may require a higher score for the best rates and terms.
- Your credit score is just one factor that lenders consider. They will also look at your income, employment history, and debt-to-income ratio.
What does a 750 credit score mean?
A 750 credit score means that you have a very good credit history. You’ve likely been responsible with your credit cards and loans, and you’ve paid your bills on time. This makes you a low-risk borrower in the eyes of lenders.
Here are some of the benefits of having a 750 credit score:
- You’ll qualify for the best interest rates and terms on loans. This can save you a lot of money over the life of your loan.
- You’ll be more likely to be approved for credit cards with rewards programs. These programs can help you earn points or miles that you can redeem for travel, merchandise, or cash back.
- You’ll be less likely to be denied for insurance or employment. Some insurance companies and employers use credit scores to assess risk.
How to improve your 750 credit score
Even though a 750 credit score is excellent, there’s always room for improvement. Here are a few things you can do to boost your score:
- Pay your bills on time. This is the most important factor in your credit score. Even one late payment can have a negative impact.
- Keep your credit utilization low. This is the amount of credit you’re using compared to your credit limit. Aim to keep it below 30%.
- Don’t apply for too much credit at once. Every time you apply for credit, a hard inquiry is placed on your credit report. Too many hard inquiries can lower your score.
- Become an authorized user on a credit card with good credit. This can help you build your credit history without having to open a new account.
- Dispute any errors on your credit report. You can get a free copy of your credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion) once a year at AnnualCreditReport.com. Review your reports carefully and dispute any errors you find.
Although a credit score of 750 is excellent, it’s crucial to keep in mind that lenders take other factors into account. Maintaining responsible credit management will help you raise your score and get the best deals on credit cards and loans.
Additional Resources
- Experian: 750 Credit Score: Is it Good or Bad?
- Credit Karma: What does a 750 credit score mean?
Frequently Asked Questions
- What is a good credit score?
A good credit score is generally considered to be 670 or higher. - What is a bad credit score?
A bad credit score is generally considered to be 629 or lower. - How can I improve my credit score?
You can improve your credit score by paying your bills on time, keeping your credit utilization low, and avoiding opening too many new credit accounts. - How often should I check my credit score?
You should check your credit score at least once a year. You can get a free copy of your credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion) once a year at AnnualCreditReport.com.
Disclaimer
This article contains information solely for general knowledge and informational purposes; it does not provide expert financial advice. A licensed financial advisor must be consulted before making any financial decisions or investing.
A 750 credit score is often considered very good — or even excellent.
When it comes to mortgages, auto loans, and credit cards with rewards and other benefits, having a very good or excellent credit score can increase your chances of being accepted for favorable offers and rates. This is because a high credit score may indicate that you’re less risky to lend to.
This three-digit number is used by lenders to determine how likely they believe you are to default on your loans; the higher your score, the more favorable you appear to them. It is derived from all the data gathered in your credit reports.
However, there are still no guarantees when it comes to credit approval, so even having a stellar credit score doesn’t mean you’re guaranteed a spot.
A credit score can be an important factor when you apply for credit, yes. However, you actually have several credit scores from various providers, all of which get their information from your credit reports that are maintained by the three main consumer credit bureaus (Equifax, Experian, and TransUnion). One scoring model may classify a credit score as “excellent,” but another model may compute the score differently by giving different weights to different factors, yielding an entirely different score.
Also, scoring models and lenders can have different interpretations of what qualifies as “excellent. Additionally, lenders normally take into account non-credit-related factors like your income or employment status when determining whether to grant you credit.
Accordingly, even though having excellent credit indicates that your credit profile is already in good shape, it’s still critical to comprehend the factors that affect credit scores in order to protect the credit you have worked so hard to establish.
Learn more about keeping up and making the most of an excellent credit score.
Auto loans for excellent credit
Although it’s not a guarantee, having excellent credit can increase your chances of being accepted for auto loans at the best rates.
To get the best loan terms and rates available to you, it’s crucial to shop around and compare offers. Rates offered at dealerships may be higher than those at a bank, credit union, or online lender, even if your credit is excellent.
Using our auto loan calculator, you can determine how these various rates and terms might affect your monthly payment for an auto loan.
And when you decide on an auto loan, consider getting preapproved. When haggling over a car’s price at a dealership, a preapproval letter from a lender can be useful, but be advised that it may require a hard inquiry.
If your credit is outstanding, it might also be worthwhile to calculate the costs associated with refinancing an existing auto loan. If your credit has improved since you initially financed the vehicle, you might be able to find a better rate.
Compare car loans on Credit Karma to explore your options.