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8 Steps to Achieve A 750 Credit Score

Written by Banks Editorial Team
4 min. read
Written by Banks Editorial Team
4 min. read

A high credit score opens up more opportunities. It’s one of the numbers lenders look at before letting you borrow money. A 750 credit score is an excellent score that can save you a lot of money. According to FICO, 46% of Americans have a credit score of 750 or higher. Joining this group has many perks, and the steps we cover will help raise your score to 750 and beyond.

Popular Credit Score Companies

Experian Logo
Learn how to access your credit report and understand, check and improve your credit scores with Experian credit reporting agency.

Check your free credit report and FICO credit score, understand, manage, and improve your credit and protect your personal information.

Grain Card Logo
Learn how you can get a digital credit card in the Grain mobile app, regardless of your credit history or your credit score.

You’re more than just your credit score. With Grain, it’s possible to access a revolving line of credit based solely on your cash flow.

Learn about AI-enabled credit repair solutions offered by The Credit Pros and how schedule a free consultation to improve your scores.

The Credit Pros will help improve your credit score by removing inaccurate credit information from your consumer credit reports.

What Does It Mean to Have a 750 Credit Score?

Consumers with a credit history get a credit score between 300-850. Higher credit scores, such as a 750, are more favorable. These scores reflect a consumer’s ability to manage debt and pay bills on time. Higher credit scores make finances easier to manage. Credit scores reward you for good money habits and effective debt management.

Why Having Good Credit Is Important

You can’t go from bad credit to good credit overnight. It’s a long-term process that many consumers work on because of the benefits. Building your credit score can significantly improve your life and finances. A high credit score lets you capitalize on the following perks. 

Cheaper to Borrow Money

Many consumers borrow money to buy homes, cars, and other expensive items. Lenders can supply the necessary capital, but you will have to pay interest. Lenders review many factors, including your credit score, when deciding your interest rate. Since credit scores give lenders a snapshot of how effectively you manage your money, financial institutions focus on this number. 

Borrowers with higher credit scores can secure lower interest rates on their loans. Lenders see these consumers as low-risk and stable income sources. Lenders don’t want to worry about defaults. They will set higher interest rates for consumers with low credit to mitigate this risk. 

Reducing your mortgage interest rate by 1% can save you hundreds of dollars per month, depending on the loan’s principal. 

Easier to Qualify for Loans

Most lenders have minimum credit score requirements. To qualify for a loan, you’ll need a credit score within the lender’s guidelines. A 750 credit score will help you secure most loans, including home and auto loans. Having a credit score just short of the requirement can make it challenging to get a loan. You may have to make a larger down payment or demonstrate an attractive debt-to-income ratio. 

Better Rates and Terms

Lenders set higher interest rates for low credit borrowers. Consumers with poor credit often can’t get financing from traditional institutions. These people often turn to payday and car title loans which don’t have credit score requirements. Unfortunately, these predatory loans have some of the highest interest rates in the industry. A high credit score helps you escape those scenarios. In addition, you’ll get more attractive rates and terms since lenders view you as a financially responsible individual. 

Higher Credit Limits

Consumers with good credit can get higher credit limits. Of course, not every consumer hits their credit limit, but it’s an extra safety net in case you have an emergency expense. A higher credit limit also improves your credit utilization ratio, a metric that makes up 30% of your credit score.

Popular Credit Score Companies

Experian Logo
Learn how to access your credit report and understand, check and improve your credit scores with Experian credit reporting agency.

Check your free credit report and FICO credit score, understand, manage, and improve your credit and protect your personal information.

Grain Card Logo
Learn how you can get a digital credit card in the Grain mobile app, regardless of your credit history or your credit score.

You’re more than just your credit score. With Grain, it’s possible to access a revolving line of credit based solely on your cash flow.

Learn about AI-enabled credit repair solutions offered by The Credit Pros and how schedule a free consultation to improve your scores.

The Credit Pros will help improve your credit score by removing inaccurate credit information from your consumer credit reports.

Avoid Security Deposits

A higher credit score doesn’t only help home buyers. Renters with good credit have a better chance of getting approved. Landlords may also make security deposits optional if you have a good enough credit score. Security deposits are upfront rent payments tenants make to demonstrate their commitment to living in the property and keeping up with payments. 

The landlord may ask for several months of rent payments as a security deposit. The security deposit covers the first few months of rent, but not everyone has enough funds to make this deposit. A high credit score helps you avoid this expense. However, even if you have enough money for a security deposit, it’s nice to know that you don’t have to put down that much capital right away.

Access to the Best Perks and Rewards

A 750 credit score provides various incentives. You can get more attractive credit cards that offer points and rewards for your purchases. You’ll also get better rates for your car insurance and utility bills. Raising your credit score lowers many of your expenses, helping you keep more of the money you earn.

Steps on How to Achieve a 750 Credit Score

A 750 credit score reduces your expenses and helps you access more capital. In addition, many borrowers want to qualify for home and auto loans, and a 750 credit score makes the process easier. Following these steps can help you achieve a 750 credit score.

1. Make Sure to Pay Your Bills on Time

Paying bills on time strengthens your credit score and can protect you from financial hardships. Payment history makes up 35% of your credit score. Creditors report your payments to the major credit bureaus, including your late payments. Therefore, late payments will hurt your credit score. Scheduling days to pay your bills or setting up an automatic payment plan can help you pay on time.

2. Pay Off Your Debts

Falling behind on payments lowers your credit score, and interest will accumulate over time. Debt problems can snowball and make it difficult to pay upcoming bills. Paying off your debts helps you escape this cycle. You will have more money to cover other expenses and also improve your credit utilization ratio. 

3. Keep Your Credit Utilization Low

Your credit utilization ratio makes up 30% of your credit score. It’s the second-largest category behind payment history. You can lower your credit utilization ratio by getting a higher credit limit or paying off your debts. Asking for a higher credit limit will trigger a hard inquiry and hurt your credit score in the short term. If you can pay your debt on time and avoid having a balance, you won’t have to apply for a higher credit limit.

4. Avoid Hard Inquiries

Each time you apply for new credit or a loan, the lender will conduct a hard inquiry on your credit report. A hard inquiry won’t devastate your credit score. You will only lose a few points that you can quickly recover from. However, hard inquiries can add up if you apply for too many credit cards and financing. They can affect your loan approval if your credit score is near the minimum.

5. Become an Authorized User

Authorized users can piggyback on someone else’s credit history. An authorized user benefits when the primary account holder pays their debt on time. It doesn’t cost anything for a friend or family member to add you as an authorized user. You should only become an authorized user for someone who pays their debt on time. Any negative marks on the primary account holder’s credit also appear in your credit report.

6. Get A Credit Builder Account

Consumers raise their credit scores to get loans. Once you get a loan, you can demonstrate a strong payment history by paying bills on time. However, some consumers don’t have a high enough credit score to get a conventional loan. A Credit Builder Account is the bridge from your current credit score to a loan. You can take out a credit builder loan through Self and make payments over time. Self reports all your payment history to the major credit bureaus. You can visit Self’s website or download their app to get started with a credit-builder account.

7. Apply for Credit Monitoring

Tracking your progress can lead to significant improvements. Credit monitoring lets you check your score and notify you about any credit report changes. Credit monitoring can reveal insights about your credit and help you detect fraudulent activities. 

8. Dispute Any Credit Reporting Errors

The credit bureaus aren’t perfect, and some errors may appear in your report. You should occasionally review your report and dispute any mistakes. Credit bureaus will take these errors off your record. You can gain a few points by disputing items that don’t belong on your report or got reported inaccurately.

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