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Generally speaking, a good credit score is 690 to 719 in the commonly used 300-850 credit score range.
Scores 720 and above are considered excellent, while scores 630 to 689 are considered fair. Scores below 630 fall into the bad credit range.
Lenders, like credit card companies and mortgage providers, have the authority to define “good credit” in their own ways when determining whether to grant you credit and how much interest to charge you.
In actuality, though, having a high credit score is what enables you to obtain the things you desire or need, like lower mortgage rates or instant access to new credit.
A 791 credit score is excellent! It puts you in the top 15% of Americans when it comes to creditworthiness This means you’ll likely qualify for the best interest rates and terms on loans and credit cards, and you’ll have access to exclusive perks and rewards.
But how did you get here, and how can you keep your score climbing? Let’s dive into the world of credit scores and explore what it takes to maintain a stellar 791 score.
What Does a 791 Credit Score Mean?
A 791 credit score falls within the “excellent” range, according to both FICO and VantageScore models. This score indicates that you have a strong history of responsible credit management and are considered a low-risk borrower by lenders.
Benefits of a 791 Credit Score:
- Lower interest rates on loans: You’ll likely qualify for the best interest rates on mortgages, auto loans, personal loans, and other types of credit. This can save you thousands of dollars over the life of your loans.
- Access to exclusive credit cards: Many premium credit cards with lucrative rewards programs and travel benefits are only available to those with excellent credit.
- Better insurance rates: Some insurance companies offer discounts to customers with good credit scores.
- Increased approval odds: Lenders are more likely to approve your loan or credit card application when you have a high credit score.
- Peace of mind: Knowing you have a good credit score can give you peace of mind and make it easier to manage your finances.
How to Get a 791 Credit Score:
- Pay your bills on time: This is the most important factor in your credit score. Even one late payment can significantly impact your score.
- Keep your credit utilization low: Aim to use less than 30% of your available credit. This shows lenders that you’re not overextending yourself.
- Limit the number of new credit accounts you open: Every time you apply for a new credit card or loan, a hard inquiry is placed on your credit report. Too many hard inquiries in a short period can lower your score.
- Become an authorized user on a responsible credit card: This can help you build your credit history without having to open a new account.
- Monitor your credit reports regularly: Check your credit reports from all three bureaus (Equifax, Experian, and TransUnion) for errors and dispute any inaccuracies you find.
Maintaining Your 791 Credit Score:
Once you’ve achieved a 791 credit score, it’s important to maintain it. Continue to follow the tips above and avoid behaviors that can hurt your score, such as:
- Missing payments: Even one missed payment can significantly impact your score.
- Maxing out your credit cards: This shows lenders that you’re using too much credit and are a higher risk.
- Closing old credit accounts: This can shorten your credit history and lower your score.
- Applying for too many new credit accounts: This can lead to hard inquiries on your credit report, which can lower your score.
Additional Resources:
- Credit Karma: Free credit scores and reports, credit monitoring, and personalized tips.
- WalletHub: Free credit scores and reports, credit monitoring, and personalized recommendations.
- Experian: Free credit reports and credit monitoring.
- Equifax: Free credit reports and credit monitoring.
- TransUnion: Free credit reports and credit monitoring.
A 791 credit score is a great achievement, but it’s important to remember that it’s not a guarantee of approval for all loans and credit cards. Lenders will still consider other factors, such as your income and employment history. However, a high credit score will give you a significant advantage when it comes to securing the best terms and rates. By following the tips above, you can maintain your excellent credit score and continue to enjoy the benefits it brings.
How to get a good credit score
Good credit habits, practiced consistently, will build your score. Here’s what you need to do:
What’s a good credit score with FICO vs. VantageScore
FICO, the most widely known credit scoring system, and its competitor VantageScore both use the 300-850 range. However, the two systems group good credit scores slightly differently from each other.
Why A 700 Credit Score Can Change Your Life #askadebtcollector #clearandstrategic
FAQ
Is 791 a good credit score to buy a house?
How rare is an 800 credit score?
How rare is 900 credit score?
What is the interest rate for a mortgage with a 791 credit score?
How can I boost my 791 credit score?
To boost that 791 credit score, follow these expert tips: Begin by requesting a free copy of your credit report from each of the three major credit bureaus: Equifax, Experian, and TransUnion. Carefully review these reports to identify any negative items that could be impacting your credit score.
Is 791 a good credit score?
In fact, 791 is classified as “excellent credit,” and having a credit score this high should qualify you for good terms on most loans, credit cards and other lines of credit. Credit Rating: 791 is an excellent credit score, which is even better than a good score. Many people consider excellent credit to be a score of 720+.
Can I get a personal loan with a 791 credit score?
Most lenders will approve you for a personal loan with a 791 credit score. In fact, you will likely qualify for the best interest rates available. However, keep in mind that your credit score is just one factor that lenders consider when deciding whether to approve your loan application.