Twenty-four percent have a FICO® Score between 750 and 799, making the "very good" bracket. Data source: FICO (2022). Nearly half of Americans score between 750 and 850, in the very good to exceptional range, while less than 25% of Americans have a score between 300 and 649, the poor to fair credit score range.
The minimum credit score needed to buy a house can range from 500 to 700, but will ultimately depend on the type of mortgage loan you're applying for and your lender.
If you have a credit score of 764 or higher, you are likely to have access to a wide range of financial products and services, including personal loans with favorable terms and conditions.
Yes, a credit score of 764 is considered good and should generally qualify you for a car loan. Lenders typically view scores above 700 as favorable, which means you may have access to competitive interest rates and loan terms.
Your score falls within the range of scores, from 740 to 799, that is considered Very Good. A 764 FICO® Score is above the average credit score. Consumers in this range may qualify for better interest rates from lenders. 25% of all consumers have FICO® Scores in the Very Good range.
Their scores range from 0-999. A credit score of 721-880 is considered fair. A score of 881-960 is considered good. A score of 961-999 is considered excellent (reference: https://www.experian.co.uk/consumer/guides/good-credit-score.html).
A 764 credit score is often considered very good — or even excellent. With excellent credit, your credit scores become more of a bridge and less of a roadblock — a high score can help you qualify for premium rewards credit cards, auto loans and mortgages with the best terms.
With FICO, fair or good credit scores fall within the ranges of 580 to 739, and with VantageScore, fair or good ranges between 601 to 780. Many personal loan lenders offer amounts starting around $3,000 to $5,000, but with Upgrade, you can apply for as little as $1,000 (and as much as $50,000).
Purchasing a Home with a 764 Credit Score
For instance, as of November 1, 2022, the average mortgage APR in the U.S. hovered around 7.1%. Borrowers with a FICO Score of 760 or higher, however, enjoyed an average APR of 6.61%, while those within the 700-759 credit score range experienced an average APR of 6.83%.
According to Car and Driver, “Most used auto loans go to borrowers with minimum credit scores of at least 675. For new auto loans, most borrowers have scores of around 730. The minimum credit score needed for a new car may be around 600, but those with excellent credit often get lower rates and lower monthly payments.”
About 70% of all mortgages are conventional loans, making it the most common type of mortgage. A FICO score of 620 or better is typically required for a conventional loan and, if your score is 760 or higher, you should qualify for the best interest rates.
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.
By age 40, the average credit score often falls in the good range (670-739), reflecting established credit habits and histories. At this age, financial responsibilities like mortgages, car loans, and family expenses can influence credit scores positively if managed well.
You should have a 640 or higher credit score in order to qualify for a $20,000 personal loan. If you have bad or fair credit you may not qualify for the lowest rates. However, in order to rebuild your credit you may have to pay higher interest rates and make on-time payments.
Mortgages with a 764 Credit Score
Nearly 70% of first mortgages go to borrowers with credit scores below 780, so you should be able to finance your home purchase without issue.
A score of 750 puts you in a strong position. Roughly 48% of Americans had a score of 750 or above as of April 2023, according to credit scoring company FICO. FICO Blog. Average U.S.
While there is no set credit score to get an auto loan, a majority of approved borrowers have scores above 660. Having a low credit score won't necessarily keep you from getting an auto loan, but you will likely pay a higher interest rate.
Minimum Credit Score to Buy a Car
Generally, a good credit score to buy a car falls within the range of 660 to 720 or higher. However, it's important to note that each lender has different criteria, and some may consider lower credit scores as well.
According to Experian, the average credit score in the UK under Experian's scoring model is 797 out of 999, however average scores vary depending on age, the area the individual lives in and the credit reference agency used.
Credit scores from the three main bureaus (Experian, Equifax, and TransUnion) are considered accurate. The accuracy of the scores depends on the accuracy of the information provided to them by lenders and creditors. You can check your credit report to ensure the information is accurate.