750 Credit Score: Is it Good or Bad? - Experian (2024)

Your FICO® Score falls within a range, from 740 to 799, that may be considered Very Good. A 750 FICO® Score is above the average credit score. Borrowers with scores in the Very Good range typically qualify for lenders' better interest rates and product offers.

25% of all consumers have FICO® Scores in the Very Good range.

750 Credit Score: Is it Good or Bad? - Experian (1)

In statistical terms, just 1% of consumers with Very Good FICO® Scores are likely to become seriously delinquent in the future.

Improving your 750 Credit Score

A FICO® Score of 750 is well above the average credit score of 714, but there's still some room for improvement.

Among consumers with FICO® credit scores of 750, the average utilization rate is 31.8%.

The best way to determine how to improve your credit score is to check your FICO® Score. Along with your score, you'll receive information about ways you can boost your score, based on specific information in your credit file. You'll also find some good general score-improvement tips here.

Why a Very Good credit score is pretty great

A credit score in the Very Good range signifies a proven track record of timely bill payment and good credit management. Late payments and other negative entries on your credit file are rare or nonexistent, and if any appear, they are likely to be at least a few years in the past.

People with credit scores of 750 typically pay their bills on time; in fact, late payments appear on just 23% of their credit reports.

People like you with Very Good credit scores are attractive customers to banks and credit card issuers, who typically offer borrowers like you better-than-average lending terms. These 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.

Staying the course with your Very Good credit history

Your 750 credit score means you've been doing a lot right. To avoid losing ground, be mindful of avoiding behaviors that can lower your credit score.

Factors that can have negative effects on Very Good credit scores include:

Utilization rate on revolving credit Utilization, or usage rate, is a measure of how close you are to "maxing out" credit card accounts. You can calculate it for each of your credit card accounts 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).

BalanceSpending limitUtilization rate (%)
MasterCard$1,200$4,00030%
VISA$1,000$6,00017%
American Express$3,000$10,00030%
Total$5,200$20,00026%

Most experts recommend keeping your utilization rates at or below 30%— on individual accounts and all accounts in total—to avoid lowering your credit scores. The closer any of these rates gets to 100%, the more it hurts your credit score. Utilization rate is responsible for nearly one-third (30%) of your credit score.

Late and missed payments matter a lot. More than one-third of your score (35%) is influenced by the presence (or absence) of late or missed payments. If late or missed payments are part of your credit history, you'll help your credit score significantly if you get into the routine of paying your bills promptly.

Time is on your side. If you manage your credit carefully and stay timely with your payments, however, your credit score will tend to increase with time. In fact, if all other score influences are the same, an longer credit history will yield a higher credit score than a shorter one. There's not much you can do to change this if you're a new borrower, other than be patient and keep up with your bills. Length of credit history is responsible for as much as 15% of your credit score.

Debt composition. The FICO® credit scoring system tends to favor multiple credit accounts, with a mix of revolving credit (accounts such as credit cards that enable you to borrow against a spending limit and make monthly payments of varying amounts) and installment loans (e.g., car loans, mortgages and student loans, with set monthly payments and fixed payback periods). Credit mix is responsible for about 10% of your credit score.

Credit applications and new credit accounts typically have short-term negative effects on your credit score. When you apply for new credit or take on additional debt, credit-scoring systems flag you as being at greater risk of being able to pay your bills. Credit scores drop a small amount when that happens, but typically rebound within a few months, as long as you keep up with all your payments. New credit activity can contribute up to 10% of your overall credit score.

When public records appear on your credit report they can have severe negative impacts on your credit score. Entries such as bankruptcies do not appear in every credit report, so they cannot be compared to other credit-score influences in percentage terms, but 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.

36% Individuals with a 750 FICO® Score have credit portfolios that include auto loan and 33% have a mortgage loan.

Shield your credit score from fraud

People with Very Good credit scores can be attractive targets for identity thieves, eager to hijack your 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).

Nearly 158 million Social Security numbers were exposed in 2017, an increase of more than eight times the number in 2016.

Learn more about your credit score

A 750 credit score is Very Good, but it can be even better. If you can elevate your score into the Exceptional range (800-850), you could become eligible for the very best lending terms, including the lowest interest rates and fees, and the most enticing credit-card rewards programs. A great place to begin is getting your free credit report from Experian and checking your credit score to find out the specific factors that impact your score the most. Read more about score ranges and what a good credit score is.

750 Credit Score: Is it Good or Bad? - Experian (2024)

FAQs

750 Credit Score: Is it Good or Bad? - Experian? ›

A 750 credit score is Very Good, but it can be even better. If you can elevate your score into the Exceptional range (800-850), you could become eligible for the very best lending terms, including the lowest interest rates and fees, and the most enticing credit-card rewards programs.

What is a good Experian credit score? ›

For a score with a range between 300 and 850, a credit score of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent. Most consumers have credit scores that fall between 600 and 750. In 2022, the average FICO® Score in the U.S. reached 714.

What is a bad Experian score? ›

What is classed as a bad credit score? When it comes to your Experian Credit Score, 561–720 is classed as Poor and 0–560 is considered Very Poor. Though remember, your credit score isn't fixed.

Is a 720 Experian score good? ›

A 720 FICO® Score is Good, but by raising your score into the Very Good range, you could qualify for lower interest rates and better borrowing terms.

How good is 750 Equifax score? ›

Excellent (800 to 850): Lenders generally view these borrowers as less risky. As a result, individuals in this range may have an easier time being approved for new credit. Very good (740 to 799): Very good credit scores reflect frequent positive credit behaviors. Lenders are likely to approve borrowers in this range.

Is Experian an accurate score? ›

Credit scores from the three main bureaus (Experian, Equifax, and TransUnion) are considered accurate. The accuracy of the scores depends on the accuracy of the information provided to them by lenders and creditors. You can check your credit report to ensure the information is accurate.

Is FICO or Experian more accurate? ›

Simply put, there is no “more accurate” score when it comes down to receiving your score from the major credit bureaus.

What's the average Experian score? ›

We provide a score from between 0-999 and consider a 'good' score to be anywhere between 881 and 960, with 'fair' or average between 721 and 880. Before you apply for credit, it's a really good idea to check your free Experian Credit Score, so you can make more informed choices when it comes to applying for credit.

Why is my Experian score so high? ›

Common reasons for a score increase include: a reduction in credit card debt, the removal of old negative marks from your credit report and on-time payments being added to your report. The situations that lead to score increases correspond to the factors that determine your credit score.

Is Experian the most important score? ›

The main disadvantage of Experian is that, unlike FICO, it is rarely used as a stand-alone tool to make credit decisions. Even lenders that review credit reports in detail rather than go off a borrower's numerical score often look at results from all three bureaus, not just Experian.

How rare is a 750 credit score? ›

Your credit score helps lenders decide if you qualify for products like credit cards and loans, and your interest rate. You are one of the 48% of Americans who had a score of 750 or above as of April 2023, according to credit scoring company FICO.

How rare is a 720 credit score? ›

Who Has a 720 Credit Score?
Credit ScoreTierPercentage of Americans
720 – 850Excellent38.12%
660 – 719Good17.33%
620 – 659Fair/Limited13.47%
300 – 619Bad31.08%

What can I get with a 750 credit score? ›

A 750 credit score is often considered very good — or even excellent. A very good or excellent credit score can mean you're more likely to be approved for good offers and rates when it comes to mortgages, auto loans and credit cards with rewards and other perks.

Does a 750 vs 800 credit score matter? ›

This is because only 1% of these individuals will become delinquent on their loans in the future. While credit scores of 800 or above are labeled “exceptional,” a score of 750 will likely get you some of the best rates available for auto loans and mortgages.

How many people have a 750 credit score or higher? ›

Credit score distribution: How rare is an exceptional 800 to 850 score?
FICO® Score rangePercent within range
650-69912%
700-74917%
750-79924%
800-85023%
4 more rows
May 31, 2023

How rare is an 820 credit score? ›

Your score falls in the range of scores, from 800 to 850, that is considered Exceptional. Your FICO® Score and is well above the average credit score. Consumers with scores in this range may expect easy approvals when applying for new credit. 21% of all consumers have FICO® Scores in the Exceptional range.

Which credit score is more important FICO or Experian? ›

Lenders use such a wide variety of credit scores (and versions of scores) that no single score is definitively the most important. The FICO® Score is used by 90% of top lenders, but there are at least 16 versions of that model in use.

Is Experian score lower than FICO? ›

Your Experian score may be higher than what another credit bureau shows because Experian calculates credit scores using its own unique scoring model.

How rare is an 850 FICO score? ›

Only 1.31% of Americans with a FICO® Score have a perfect 850 credit score. While a score this high is rare among any demographic, older generations are more likely to have perfect credit. Baby boomers make up a whopping 59.4% of the people with an 850 credit score.

Top Articles
Latest Posts
Article information

Author: Mrs. Angelic Larkin

Last Updated:

Views: 6119

Rating: 4.7 / 5 (47 voted)

Reviews: 94% of readers found this page helpful

Author information

Name: Mrs. Angelic Larkin

Birthday: 1992-06-28

Address: Apt. 413 8275 Mueller Overpass, South Magnolia, IA 99527-6023

Phone: +6824704719725

Job: District Real-Estate Facilitator

Hobby: Letterboxing, Vacation, Poi, Homebrewing, Mountain biking, Slacklining, Cabaret

Introduction: My name is Mrs. Angelic Larkin, I am a cute, charming, funny, determined, inexpensive, joyous, cheerful person who loves writing and wants to share my knowledge and understanding with you.