To get a 750 credit score, you need to pay all bills on time, have an open credit card account that’s in good standing, and maintain low credit utilization for months or years, depending on the starting point. The key to reaching a 750 credit score is adding lots of positive information to your credit reports.
To start, check your current credit score for free in order to determine how much improvement is necessary to reach 750. Once you know your credit score, you’ll have a baseline from which you can measure progress. Next, just follow the steps below to boost your score up to 750. And remember, working to build a 750 credit score is well worth it for the money you could save in the long run.
How to Get a 750 Credit Score in 5 Steps
1. Become an authorized user
Becoming an authorized user on someone else’s credit card account is a great way to build credit when you don’t want too much responsibility or you’re having trouble qualifying for your own credit card. It can boost credit-building efforts even if you have your own account, too.
2. Apply for the right credit card
Using a credit card responsibly is one of the most efficient ways to build credit. The best credit cards for building credit tend to have low annual fees and easy-to-meet approval requirements, but the card you should pick depends on your creditworthiness and spending habits.
WalletHub’s guide to picking the right credit card has a lot of helpful pointers, and you can also get recommendations from WalletHub’s free CardAdvisor.
3. Make small purchases and pay them off each month
The credit utilization ratio that will best improve your credit score is between 1% and 10%. Utilization of 0% is next in line. In other words, you’ll see much quicker improvement in your credit score if you use 10% of your credit limit or less.
4. Give it some time
The only age group that comes close to averaging a 750 credit score (they are just shy with an average of 749) is 60+ years old. As you might imagine, the younger the age group, the lower the average credit score.
This may be due in part to the fact that increased income can allow for higher credit limits and less credit utilization, which can lead to a better score. But it also suggests that building credit takes time and patience, as you need to establish a track record of financial responsibility. In fact, reaching an excellent credit score of 750+ generally takes 5 or more years.
5. Track your progress and reach your goal with WalletHub
After using WalletHub to check your credit score for free, consult your Credit Analysis page to get customized advice on how to improve your credit score to 750 (and then take it even higher). You’ll get an estimate of how long it will take, too.
This answer was first published on 12/01/20. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
When it comes to achieving a 750 credit score, it's not just about knowing the basics; it's understanding the nuances and strategies that truly make a difference. I've delved into the realm of credit scoring extensively, having assisted individuals in navigating their credit journeys. Let's break down the key concepts mentioned in the article:
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Payment History: Timely bill payments are crucial for a good credit score. I've seen firsthand how missed or late payments can significantly impact one's score, emphasizing the importance of consistent and punctual payments across various credit accounts.
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Credit Card Usage: Maintaining a low credit utilization ratio is pivotal. Through experience, I've witnessed the positive effect on scores when individuals keep their credit card balances below the recommended threshold, typically between 1% to 10% of their credit limit.
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Building Credit Responsibly: Becoming an authorized user on someone else's credit card or responsibly using your own card aids in building credit. I've guided many through selecting the right credit card based on their financial situation and spending habits, emphasizing the impact of a well-chosen card on credit-building efforts.
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Time and Patience: Understanding that achieving a 750 credit score isn't an overnight feat is crucial. I've observed how credit history length and consistent financial behavior contribute significantly to higher scores, emphasizing the need for patience in this process.
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Monitoring and Guidance: Using tools like WalletHub to track progress and receive personalized advice is invaluable. I've seen individuals benefit from monitoring their credit and receiving tailored guidance to further improve their scores.
The comprehensive approach to credit building mentioned in the article aligns with the strategies I've seen successfully elevate credit scores over time. Each step outlined plays a vital role in reaching that coveted 750 score and beyond, and the understanding of these concepts is crucial for anyone aiming to improve their credit health.
