Building credit takes time and patience. The time it takes to get to 750 (which is considered a “very good” FICO® Score and a “good” VantageScore®) depends on your current credit score. If you are already at 700, then it will take you a few months to get to 750 with consistent good credit behavior – like paying your bills on time, maintaining a low credit utilization rate, not applying for multiple new credit accounts at once, and keeping old credit cards open even if you don’t use them much.
According to Experian® data from 2022, most people with a credit score above 730 are over 60 years old. This means that the length of your credit history, experience managing diverse credit accounts, and having a stable income history, all contribute to improving your credit score. It is not so much age, but consistency and time that influences your credit scores. If you are just beginning your credit journey, it may take a few years for you to get to 750. The only way to improve your credit score to any range is to continue following good credit habits.
FAQs
If you are already at 700, then it will take you a few months to get to 750 with consistent good credit behavior – like paying your bills on time, maintaining a low credit utilization rate, not applying for multiple new credit accounts at once, and keeping old credit cards open even if you don't use them much.
What will 750 credit score get you? ›
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. You'll also have access to some of the most attractive credit card products.
How long did it take you to get a 800 credit score? ›
The longer you've been using credit, the more it means to your credit score. Members of the 800 Club average just under 22 years of using credit. Even the youngest ones, Millennials, average more than 14 years.
How long does it take to get excellent credit score? ›
Building a great credit score can take much longer—as long as seven to 10 years in some cases. The reason a strong credit score often takes so long is because one of the factors taken into account is just how long you've consistently paid your bills on time.
How long does it take to raise credit score to 750? ›
If you are already at 700, then it will take you a few months to get to 750 with consistent good credit behavior – like paying your bills on time, maintaining a low credit utilization rate, not applying for multiple new credit accounts at once, and keeping old credit cards open even if you don't use them much.
Can you buy a house with a credit score of 750? ›
With a 750 credit score, you're in the running for pretty much every kind of home loan. FHA loans, VA loans and USDA loans all have much lower minimum credit score requirements, and conventional loans have a minimum credit score requirement of 620.
Is it possible to get a 900 credit score? ›
A credit score of 900 is not possible, but older scoring models that are no longer used once went up to 900 or higher. The highest possible credit score you can get now is 850.
What is a good credit score to buy a house? ›
Some types of mortgages have specific minimum credit score requirements. A conventional loan requires a credit score of at least 620, but it's ideal to have a score of 740 or above, which could allow you to make a lower down payment, get a more attractive interest rate and save on private mortgage insurance.
How rare is an 800 credit score? ›
According to a report by FICO, only 23% of the scorable population has a credit score of 800 or above.
How much can I borrow with a 700 credit score for a car loan? ›
You can borrow from $1,000 to $100,000 or more with a 700 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.
The time it takes to raise your credit score from 500 to 700 can vary widely depending on your individual financial situation. On average, it may take anywhere from 12 to 24 months of responsible credit management, including timely payments and reducing debt, to see a significant improvement in your credit score.
What is a good credit score by age? ›
Consider yourself in “good” shape if your credit score is above the average for people in your age group. Given that the average credit score for people aged 18 to 26 is 680, a score between 680 and 690 (the average for people aged 27 to 42) could be considered “good.”
Why is my credit score going down when I pay on time? ›
Using more of your credit card balance than usual — even if you pay on time — can reduce your score until a new, lower balance is reported the following month. Closed accounts and lower credit limits can also result in lower scores even if your payment behavior has not changed.
Do closed accounts count towards credit age? ›
The impact of closing accounts depends on which credit scoring formula is used. FICO, which is the most commonly used formula, continues to use both open and closed accounts in calculating the age of your accounts. VantageScore, which is a FICO rival, may not.
Is there a big difference between 750 and 800 credit scores? ›
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.
How to get 800 credit score? ›
Making on-time payments to creditors, keeping your credit utilization low, having a long credit history, maintaining a good mix of credit types, and occasionally applying for new credit lines are the factors that can get you into the 800 credit score club.
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.