Frankly speaking 750 is a good credit score, this means you pay your debts, monthly payments, have good chunk of cash moving in your saving accounts every month, but is it good enough to get everything?
The average scoring in USA is 680, which indicates 750 is way above average, however an incident took place last month when a woman had 750 (according to FICO) applied for a house loan and got denied because her down payments on real estate accounts are low.
So nowadays maybe 750 is not the optimum score. After the financial crisis which took place by the turn of the decade and had a severe effect especially on creditors and loan providers still felt until the moment banks and financers are getting bit more up tight.
They must get sure 100% that there is no chance of default, they set higher terms and higher qualifications for loans.
Is it enough?
Well you need to work on it. 750 used to be a perfect result during the last period of time. It’s not the same now as card issuers for example weigh in other factors on decision like negative payment history, and they tend to check negative actions from years ago, owed installments, and the ratio of debt-to-credit.
So 750 won’t get you the lowest interest rates, not any more. Some people even like to say that today’s 750 is like yesterday’s 600.
What to get with 750 credit score
Still 750 can get a lot of things like a mortgage for a reasonable house especially if you have a strong and stable job history, however, you won’t get the best interest rates, this means paying more money and heavier pressure.
750 could get you also most of the cards including premium cards available in the American market, but still also with not the best interest rates, not like before.
An auto loan also would be easily available. Car loans for American cars like Ford would be available not to mention Asian car brands like Honda and Toyota.
Simply put, 750 is a good credit score, actually perfect, but don’t settle for it, always get motivated on having the optimum range to thrive. Life nowadays in many aspects, even apart from financial, depend on the credit score, your financial status, life style, health, daily habits, and social level, so don’t settle and look up.
Lenders requirements are getting harder day after day, if you are now comfortably eligible for most offers, tomorrow you would be on the brink, and after tomorrow you won’t get approved, so keep working on it and never settle.