735 Credit Score
Is 735 a good credit score? 735 credit score benefits. How to get a 735 credit score & improve more.
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A 735 credit score is right on the border between “good” and “excellent” credit. In fact, the traditional school of thought is that good credit goes from a score of 660 to 719, while excellent credit spans from 720 to 850. But it doesn’t quite work out that way in practice. For example, your odds of being approved for a credit card that requires excellent credit will be hit or miss with a 735 credit score. But if your score is 750 or above, your chances of success will be much higher. That, in a nutshell, is why we consider a score of 750+ to be excellent credit while a score of 735 is very good.
Fortunately, if you have a 735 credit score, something as simple as reducing your credit utilization could quickly put you over the top. And that would help you save hundreds, perhaps even thousands, of dollars more each year. If you don’t know your current score, you can check it for free on WalletHub, the only site offering free credit scores that are updated on a daily basis.See Your Latest Credit Score
Just remember that there’s a big difference between knowing what your credit score is and truly understanding it. So continue reading below to learn everything you need to know about your 735 credit score.
What Does a 735 Credit Score Get You?
|Type of Credit||Do You Qualify?|
|Any Credit Card||NO|
|No-Annual-Fee Credit Card||YES|
|Big Initial Credit Card Bonus||YES|
|Credit Card with 0% Financing||YES|
|No-Foreign-Fee Credit Card||YES|
|Favorite Store’s Credit Card||YES|
|Airline/Hotel Credit Card||YES|
|Best Mortgage Rate||NO|
|Auto Loan with 0% Intro Rate||MAYBE|
|Lowest Auto Insurance Premium||NO|
|Best Personal Loan Rate||MAYBE|
How to Get a 750+ Credit Score
If you want to know how to improve your credit score, look no further than the Credit Analysis section of your free WalletHub account. You’ll find grades for each component of your credit score, along with an explanation of where you stand and tips to improve. Getting your credit score to 700 is kind of like making the honor roll in school. You need mainly As and Bs to pull it off.
For example, here’s a common credit scorecard for someone with a 750 credit score:
- Payment History: A = 100% on-time payments
- Credit Utilization:A = 1% - 10%
- Debt Load: A = <0.28 debt-to-income ratio
- Account Age: B = Average account is less than 9 years old
- Account Diversity: A = 4+ account types or 21+ total accounts
- Hard Credit Inquiries: A = Fewer than 3 in past 24 months
- Collections Accounts & Public Records: A = 0 collections accounts and public records
You don’t need to match this scorecard exactly to build a credit score of 700 or even higher. Different profiles can get the job done. For example, you might have an A in Credit Utilization but a B, or even a C, in Account Age. It’s the complete picture that matters.
Who Has a 735 Credit Score?
|Credit Score||Tier||Percentage of Americans|
|720 – 850||Excellent||38.12%|
|660 – 719||Good||17.33%|
|620 – 659||Fair/Limited||13.47%|
|300 – 619||Bad||31.08%|
*Based on WalletHub data as of Oct. 7, 2016
As you can see, the majority of us are in the top two tiers of the credit-score range. A lot of people don’t know where they stand, though, considering that 44% of consumers haven’t checked their credit score in the past 12 months, according to the National Foundation for Credit Counseling. If you’re one of them, you can change that by checking your credit score on WalletHub.
700+ Credit Scores by Income
People who make at least $50,000 per year are significantly more likely to have a credit score of at least 700. And people who pull in $75,000 to $99,999 per year are in the sweet spot for a score that begins with a 7 or an 8. But note that it is possible to get into the 700-plus club if you earn less or wind up with a way lower score even if you make a lot more. It’s all about spending within your means.
700+ Credit Scores by Age
Your credit score takes into account the average age of your credit cards and loans, so it makes sense that high credit scores skew older. But the fact that nearly one-quarter of people aged 18 to 24 have credit scores of 700-plus should give newcomers plenty of hope.
Remember, no matter where you’re starting from, WalletHub will help push your credit score higher. So get on the road to top WalletFitness® now!
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