Is 761 a Good Credit Score?

In terms of money, your credit score is one of the most important numbers. Getting credit cards, loans, mortgages, rental apartments, and other things can depend on it. What does a 761 credit score mean? Is it good or bad? Read on to find out.

What is a Good Credit Score?

Experts consider credit scores of 670 and above to be good to excellent. Specifically:

• 800-850 is exceptional
• 740-799 is very good
• 670-739 is good

So with a score of 761 you’re in the very good range. Congratulations! You’ve worked hard to achieve strong credit health.

It’s not a given that you’ll get everything just because your score is good. Lenders look at additional factors like your debt-to-income ratio. But if you have a higher score, you have a better chance of getting good rates.

How a 761 Credit Score Compares

If you want to know how much a 761 credit score is worth, let’s compare it to the credit scores of other people:

• It’s higher than 65% of people. Only about 35% of Americans have credit scores of 761 or above.

• It’s 41 points higher than the average score of 720.

• It meets the credit score requirements for excellent rates on most loans. Many lenders advertise their best rates for borrowers with credit scores starting in the mid-700s.

Although you can still do better, a credit score of 761 means that your credit is much better than average and that you can get prime loans.

Benefits of a 761 Credit Score

A 761 credit score qualifies you for the best deals from lenders, including:

• Low interest rates on credit cards, saving you money
• High credit limits to keep utilization low
• 0% intro APR offers lasting up to 21 months
• Low auto loan rates, such as 3% APR or less
• Low mortgage rates, potentially saving tens of thousands in interest
• Lower insurance premiums
• Better terms on apartment leases with no security deposit

Lenders view borrowers with 761+ credit scores as very low risk. You’ll pay less in interest over the lifetime of loans and have more flexibility.

How to Raise Your 761 Credit Score

Here are tips to improve your credit score even more:

• Lower credit utilization below 10%
• Pay bills early to avoid high statement balances
• Become an authorized user on a spouse or partner’s old account
• Limit new credit applications to 6 or fewer hard inquiries per year
• Maintain a long credit history by keeping old accounts open

Little tweaks like these could boost you into the 800+ club. Once you reach that exceptional tier, you’ll qualify for the very best lending offers.

Is 761 a Good Credit Score for a Mortgage?

Most lenders advertise their lowest mortgage rates for borrowers with a 760+ credit score. So at 761, you could be eligible for prime mortgage rates such as:

• Conventional 30-year fixed rates at 5% APR
• 15-year mortgage rates at 4.5% APR
• Jumbo loan rates at 4.75% APR

Exact rates will vary based on economic conditions. But with a very good 761 score, you should qualify for the best mortgage rates available.

Be sure to also have a low debt-to-income ratio, steady income history, and substantial down payment funds saved. Lenders look at these additional factors when approving a mortgage. But your high credit score gives you a competitive edge.

Is 761 a Good Credit Score for an Auto Loan?

A 761 FICO score also puts you in a great position for low auto loan rates. Here are example rates you may qualify for:

• 36-month new auto loans under 4% APR
• 60-month used car loans under 5% APR
• 72-month loans under 6% APR

As always, shop around among lenders for your best offer. But with very good credit, you should see interest rates advertised at 4-6% APR at most lenders.

This saves you thousands of dollars in auto loan interest compared to borrowers with fair credit scores in the 600s. Your excellent score gives you exceptional auto financing terms.

How to Monitor Your Credit Score

Checking your credit scores from all three bureaus at least once per year is recommended. Many credit cards and personal finance sites like Credit Karma offer free credit scores and reports. Monitoring your credit helps you catch any suspicious activity and errors early.

With a very good 761 score, keep up the great work managing your credit! Your high score saves you money through better loan rates and financial flexibility. Continue building positive credit habits to maintain your score and unlock your full lending potential.

It is not possible to get a 900 credit score with the most common credit scoring models used in the United States, like FICO and VantageScore, as they have a maximum score of 850. While a score of 900 is possible with certain industry-specific FICO models like the FICO Auto Score or FICO Bankcard Score, it’s extremely rare and not the norm.