750 is a Good Credit Score & How to Get It [2023 Updated]

750 Is a Good Credit Score

VantageScore and FICO are two popular credit-scoring companies. On the FICO Score range, a credit score of 750 is above the average and considered very good. On VantageScore, 750 is regarded as a good credit score.  

With a credit score of 750, you are eligible for most personal loans, credit cards, mortgages, car loans, and other credit services. Lenders believe that borrowers with excellent credit scores are less likely to fail on their loans and other credit repayments; as such, they provide privileges like:

• Better credit card options and rewards
• Better loan terms
• Low-interest rates/APR on loans and credit cards
• Higher chance for credit card and loan approval.
• Less processing time and faster loan approval
• More negotiating power for lower interest rates on loans and credit cards
• Larger loan and credit card limits

Credit Cards for 750 Credit Score

With a credit score of 750, you can qualify for credit card offers that are the best of the best. Credit card issuers usually provide an available combination of rewards and fees for you to select what suits you. Here are some categories of offers you can enjoy and their top picks:

➔   Premium travel rewards - Chase Sapphire Reserve

➔   High cashback reward - Citi Double Cash Card

➔   Simple cash back bonuses - Chase Freedom Flex

➔   General rewards - Chase Freedom Unlimited

➔   Business travel rewards - Ink Business Preferred Credit Card

➔   Best luxury perks - Platinum Card from American Express

➔   Travel without annual fees - Capital One Venture Rewards Card

➔   Best Rewards on Groceries - Blue Cash Preferred Card from American Express

Be informed that some of these cards could have high-interest rates and expensive annual fees, but they can be worth it if you maximize their reward programs and benefits.

Find Your Tailored Credit Card With CreditYelp!

CreditYelp is an online broker that connects clients who need loans to the most suitable direct lenders to apply for loans that suit their needs. We provide objective and all-inclusive information, expert comparison, and evaluation so you can make informed financial decisions.

Except for loan services, CreditYelp also aims to offer the most economical credit card evaluation services and help you find the best credit card.

Why Choose CreditYelp For Credit Card Services:

• We have numerous credit card issuers options for you.
• You have access to lower interest rates
• There are no annual fees attached to our services
• You can access tremendous rewards and perks, including points, miles, cash back, etc.
• We have the most tempting introductory/welcome offer you will ever find
• Our credit cards have a higher credit limit

Here's how to apply for your credit card using CreditYelp:

1. Check out and compare credit card issuers.
2. Pick a credit card option that best suits you.
3. Fill out the application and submit the required documents.
4. Get your funds when approved.

You can trust us at CreditYelp to connect you with your tailored credit card provider. We go the extra mile to consider the following lender rating methodology for all our credit card partners:

• Interest rates
• Repayment terms
• Repayment options
• Maximum loan amount
• Loan funding time
• Fees
• Discounts
• Customer service availability
• Whether the minimum credit score is available publicly
• Whether consumers could request rates with a soft credit check

Personal Loans for 750 Credit Score

With a credit score of 750, you can confidently apply for personal loans because most lenders already deem you qualified. You can enjoy larger credit amounts, lower interest rates, and extra perks like flexible payment options and free credit monitoring when you take out a loan. 

However, some lenders charge fees like origination fees to process the loans or fees for late repayment.

The best personal loans for good credit provide a wide range of credit terms, competitive interest rates, and inclusive eligibility criteria. Thus, before you apply for a personal loan, check out as many lenders as possible to choose the best for your needs.

Remember that obtaining a personal loan can further boost your good credit score by improving your credit mix. You can also get 20 points or more in the long term, especially when you make timely payments or use personal loans to consolidate your debts.

Get a Personal Loan at Lower Interest and No Origination Fee With CreditYelp!

CreditYelp is affiliated with over ten quality loan groups, so be assured that we have the best lender for you. We also provide objective and all-inclusive information, expert comparison, and evaluation so you can find the best personal loan.

Get a Personal Loan at Lower Interest Now!

Most lenders and banks will likely see you as a credit risk if your credit falls into the bad credit range. This is where CreditYelp comes to the rescue.

$2,500

$0

$5,000

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Applying for loans through us is straightforward and quick. Simply follow the steps below to complete the borrowing process;

1. You fill out an application form, and we share your request with suitable lenders.
2. Each of the lenders that accept your request will send you a customized offer. You look through the offers to make an informed choice of the one that best suits you.
3. Once the deal is finalized, you wait for the funds to be deposited into your account immediately.

Pros:

• Our services support borrowers with bad credit and low income.
• We have cooperated with many legitimate and reliable lenders with loan qualifications with NMLS ID.
• Our interest rates are affordable.
• Our loan amounts are flexible and have high limits.
• Your loan is wired to your account quickly once approved.
• Our loan process is faster because we have a good relationship with our lenders.
• We offer better repayment deals and options.
• We charge little or no origination fees.

How does CreditYelp compare

CreditYelp

Why Choose Us?

How much can I borrow?

Up to $35,000

No hidden fees or charges

How long is the loan repayment period?

Up to 36 months

Various repayment options

Do lenders check my credit?

Yes

Soft check only

Do lenders accept bad credit?

Yes

Friendly to bad credit borrowers

Chances of approval

Good

High approval rate

How to apply?

Apply online

No paperwork needed

Get Started

Auto Loans for 750 Credit Score

With a credit score of 750, you are more likely to qualify for any new, used, or refinanced auto loans with favorable rates as low as 3-4%. You can obtain auto loans through an online lender, local bank, credit union, or car dealer. 

Buying a new car usually comes with better rates than buying a used vehicle because used autos have a higher interest rate as their worth is lower. If you financed your vehicle through a dealer and the deal was not good, you can save more by refinancing your auto loan.

One thing you can do to have a minimized auto loan interest rate is to make a larger down payment. You should also consider getting a preapproved letter from your lender for more loan flexibility. It gives you greater negotiating power with your car dealer and makes purchasing less stressful. 

With a credit score of 750, preapproval is easy when you have the necessary application documents. Having a good credit score gives you access to many deals. However, you should review and compare offers to get the best loan rates and terms available.

Mortgage Rates for 750 Credit Score

With a credit score of 750, you are considered by lenders as a low-risk borrower. And thus, you are qualified for a good mortgage rate. However, other factors like a good Debt-to-income (DTI) ratio and a stable employment history also play a role.

Before applying for a mortgage, consider other factors like;

• The mortgage loan type you want: You have the options of a conventional loan, a fixed-rate loan, a government-insured loan, or an adjustable-rate loan.

• Loan amount: You should determine the budgeted amount for a home purchase before applying for a mortgage loan.

• The down payment you will make: Check how much you can afford as a down payment when the loan finally gets approved.

• The loan term and size: Although a 30-year mortgage plan is the most common, you can get a 10, 15, or 20-year loan term.

• The location: Location plays a huge role in mortgage rates.

All these go a long way in helping you secure a reduced interest rate. For example, a bigger down payment gives you a lower interest rate; a shorter loan term has a lower interest rate, etc.

Furthermore, you should make your findings to understand the rates available to make the best pick. You can also plan to get a mortgage preapproval to be informed of your loan limit and to get more competitive offers.

5 Factors Lower Your 750 Credit Score

Your credit score is subject to change when you get loans or take cash advances. The impact of such actions can be positive or negative, depending on how well you follow the rules. Below are some of the things you should avoid harming your credit score.

Your Utilization rate is high

Your utilization rate or usage rate is the percentage of the total available credit you are using. It can be calculated for each credit card by dividing the amount you owe on each of them by the credit card limit and multiplying by 100%. It is an indicator of how well you control your finances.

For example, if you have a credit card balance of $1000 on a card with a $2000 credit limit, your utilization rate is 50%. Credit reporting agencies recommend that it be kept at 30% or lower to avoid a lowered credit score. One way to reduce your utilization rate is to increase your credit limit.

However, you must be careful to increase your spending the same because of a new higher balance. Your usage rate affects up to 30% of your credit score.

Absence of late or missed payments

On-time payments affect up to 35% of your credit score. You build your credit scores when you have the practice of repaying your loans promptly.

Many credit issuers allow you to choose your repayment dates. Select days that line up with your payday or set up calendar reminders to avoid late payments. You can also opt for automatic payment to avoid missing your due dates.

Your length of credit history is too short

This refers to how long your account has been reported as open. An account that has been open and active for a longer time; and with a good payment history generally yields a higher credit score than a shorter one.

If you are a new borrower, the way to build this is to control your finances well by being timely with your repayment over a long period. The length of your credit history accounts for about 15% of your score.

Avoid closing your credit card accounts so that your credit history can give the bureaus a wholesome assessment of how you handle debts.

Your credit portfolio is single

A credit mix refers to having a variety of loans in your credit portfolio. It can help boost your credit score by showing how well you can manage a blend of loans. Avoid taking one type of loan to improve your credit mix.

Your credit mix is determined by how many types of installment credit (e.g., student loans, personal loans, and mortgages) and revolving credit (e.g., credit cards) you have.

However, title and payday loans don't add to your credit mix. If you don't have an installment loan, you can plan to have a small personal loan to help your credit score. Credit mix accounts for up to 10% of your score.

Your credit report has negative public records

Public records can affect your credit score negatively if they appear on your credit report. Public records like bankruptcy, foreclosure, unpaid tax charges, lawsuits, etc., can appear on your credit report for as long as seven to ten years. Thus, it is best to avoid them.

Settle any charges or judgments that appear on your credit report as soon as possible to avoid severely lowering your credit score. Sometimes, it could take a while to resolve these public records. You could focus on restoring your credit by making prompt payments, maintaining lower balances, etc.

4 Ways to Improve Your Credit Score From 750 to 800+

Pay your debts on time

It is not just missing your payment that hurts your credit score. Paying your bills late can also lower your credit score. Pay your debts on time to increase your credit score to over 800. A good practice to adopt when you realize you may miss a payment is to reach out to loan providers as early as possible to see if they can provide other options.

Apply for credits only when you need them

If you apply for the credits you don't need; lenders may think you are seeking a loan you cannot repay. As a result, you can receive a hard inquiry that can negatively affect your score.

Open accounts that the credit bureau can assess

When opening a credit account, open one that will be accounted for by the credit bureaus so that it can reflect on your credit report. You can open any account, whether an installment or revolving account.

Build a long credit history

Having a long history of paying your loans in time improves your credit score. However, this is achieved by waiting and building rather than taking immediate action. Also, avoid closing your credit accounts hastily when applying for a new one. That can erase some of your credit histories and therefore shorten the length. 

FAQs

1.   How to protect your credit score from fraud?

When you have a good credit score, you can be an enticing target for identity and credit fraudsters eager to steal your hard-earned credit history. To prevent such occurrences, you can use credit monitoring and identity theft protection services to track and receive notifications when something unusual is going on with your account.  

Also, if you suspect that your credit has been compromised, you can use a credit freeze to restrict access to your account until you remove it. Credit fraud is a possibility if your credentials are transmitted virtually. Stay alert, act quickly, and ask for help when you notice anything fishy.

2.   Is it a waste of time to obsess over 800 and 820 credit scores?

Many finance experts say that it is unnecessary to obsess over credit scores of 800 and 820.

This is because scores above 750 are all categorized as excellent, and everyone within it is already getting the best credit rates, like improved insurance rates and the best credit cards. Moreso, credit scores within the same range appear the same in their credit reports.

Also, remember that it is more than just your credit score that qualifies you for a loan. Lenders look out for other things like your length of credit history, the amount you earn, how much you have in the bank, etc. You should focus on these, too, not just your credit score.

3.   The Reasons why Your Credit Score Is stuck

The following factors can cause your credit score to be stagnant; 

• High overall credit usage: This reduces your credit score, especially when you have just one card and a short credit history. Reduce your credit usage, make payments more than once a month, and use multiple accounts to mitigate this.

• No credit mix: If you don't have a variety of loans in your credit portfolio, your credit score will be stagnant. Having mixed credit shows that you can handle various loans, thereby improving your credit score.

• Limited credit history: Your credit score will not grow if you have a short credit history. A longer pattern of good credit history would positively affect your scores. Be patient and maintain good credit in the long run, to help grow your credit score.

• Missed payments: Several missed payments can drop or stagnate your credit score. You can create a budget or set up an automatic payment to make prompt repayments and increase your credit score.

• Multiple loans and credit card applications: Having multiple credit applications, particularly within a short span, negatively affects your credit score because it suggests you as a risky borrower. You should apply wisely and only for necessary things.