Is 750 a Good Credit Score? (2023)

A 750 credit score is considered excellent in Canada. With an excellent credit score, you’ll be more likely to qualify for premium credit cards, loans, mortgages, and other financial products at low interest rates.

Credit scores in Canada range between 300 and 900; the higher your credit score, the more creditworthy you are in the eyes of lenders and other providers. There are five distinct categories that credit scores fall into, ranging from poor to excellent.

  • Excellent: 741-900

  • Good: 713-740

  • Fair: 660-712

  • Below Average: 575-659

  • Poor: 300-574

If you have a credit score of 750 or above, congratulations! You have an excellent credit score! You are in the top tier of borrowers in Canada, and 25% of Borrowell members fall into this category. With a credit score of 750 and above, you’ll be able to reach financial goals and milestones with relative ease.

If you don’t have a credit score of 750, there are many reasons why you should work towards getting an excellent credit score. Here’s how a 750 credit score can help you achieve your financial goals, along with tips on how to protect your credit score and grow your score even more.

Benefits of Having a 750 Credit Score

An excellent credit score of 750 or above will help you qualify for the best rates and terms on financial products. You’ll have an easier time getting approved for financing on large purchases, such as major appliances, a new car, or your first home. You’re also more likely to receive promotional rates, rewards, and cashback bonuses on new credit cards.

Here are four major benefits you can access with a 750 credit score:

  1. Lower interest rates

  2. Better credit terms

  3. Higher credit limits

  4. Top-tier financial products

Lower interest rates

With an excellent credit score of 750 or above, you’ll qualify for lower interest rates on a wide range of loan products. Lenders will be more willing to offer lower interest rates on car loans, mortgages, and other types of loans. Lower interest rates will reduce your monthly loan payments, which can help you open up more of your budget for saving and spending.

Better credit terms

A credit score of 750 or above will greatly improve your approval chances for credit products. Lenders will be more likely to work with you if you have an excellent credit score. Higher approval chances means you’ll have more confidence in making future purchases and financial decisions.

Need additional funds for education? Want to buy your dream car? Looking to renovate your home? Getting ready to buy your first home? A 750 credit score can help you reach these milestones by boosting your approval chances.

Higher credit limits

A 750 credit score can help you qualify for higher credit limits on credit cards, lines of credit, and other revolving credit products. Depending on the lender or provider you work with, you might automatically qualify for a higher credit limit based on your credit score.

A higher credit limit gives you more financial flexibility in an emergency and makes it easier to maintain a reasonable credit utilization ratio. Need to make last-minute home renovations or get unexpected work on your car done? With a 750 credit score, you can use a credit product with higher limits without worrying too much about maxing out your credit utilization.

Top-tier financial products

A 750 credit score will increase your chances of qualifying for premium financial products. Many premium credit cards, including rewards cards, travel cards, and cashback cards, are only eligible for individuals with at least very good credit. If you’re in the market for a top-tier credit card, having an excellent credit score of 750 or above will make your search much easier.

What Can You Qualify For With a 750 Credit Score?

With a 750 credit score, you’ll have high chances to qualify for most financial products from Canada’s biggest lenders. Well-known providers will be open to working with you based on your credit score and credit history. You may even qualify for bonus perks and premiums with your excellent credit score.

The best way to find out what specific products you qualify for is by using Borrowell. You can sign up for free to check your credit score, compare products, and instantly see your approval chances for loans, credit cards, mortgages, and more.Checking your credit score with Borrowell is a soft credit inquiry, so it won’t hurt your score! You’ll have peace of mind knowing that you can compare products and see your qualification chances without hurting your near-perfect credit score.

See exactly what products you qualify for

Sign up for Borrowell to get your free credit score and instantly see what loans and credit cards you qualify for. See your approval chances, avoid rejection, and apply with confidence.

See Your Approval Chances

Here are some questions you might have about what general products you qualify for with a 750 credit score.

Can You Qualify for a Personal Loan?

Yes, you can qualify for most personal loans with a 750 credit score. Borrowers with excellent credit scores can receive larger amounts of money, low-interest rates, and other potential perks when taking out a personal loan. With a 750 credit score, you can demonstrate your trustworthiness to lenders and apply for personal loans with confidence.

Most lenders require that you have at least a credit score above 650 to qualify for a personal loan. If your credit score is lower, you can still qualify for some bad credit loans, but these loans typically have much higher interest rates

Can You Qualify for a Credit Card?

Yes, you can qualify for many credit cards with a 750 credit score, including most premium credit cards. Depending on the lender, you could even qualify for promotional rates, rewards, and cashback bonuses on new credit cards that you apply for.

Most credit card providers in Canada require credit scores of at least 660 to qualify.Credit card interest rates are usually set in stone by lenders, so you won’t necessarily get a better interest rate with a higher credit score. That said, you’ll qualify for higher credit limits and other potential perks, including rewards and cashback bonuses.

Can You Qualify for a Car Loan?

Yes, you can qualify for a car loan with a 750 credit score. You’ll have higher approval chances, get funds more quickly, and be eligible for the best car loan offers available with an excellent credit score. You’ll also qualify for lower interest rates than other consumers.

Canadian lenders typically approve car loans for consumers with credit scores of 630 or above.If you have a credit score below 630, you’ll need to find a lender that specializes in helping car buyers with bad credit.

Can You Qualify for a Mortgage?

A credit score of 750 will put you in excellent territory to qualify for a mortgage.You need a minimum credit score of 680 or above to qualify for the best mortgage rates with traditional lenders. Having excellent credit of 750 or above will help you lock in an attractive interest rate and save money on your mortgage payments.

The interest rate you receive on your mortgage matters; even a slightly lower interest rate can have a major impact on your finances. The interest rate you qualify for will determine how much money from your scheduled payments goes towards your principal and how much goes towards interest payments.

If your credit score is below 680, you may still qualify for a mortgage, but you'll likely need to choose an alternative mortgage lender and pay a higher interest rate.

How Can You Protect Your 750 Credit Score?

If your credit score is 750 or above, there are specific steps you can take to maintain and protect your high credit score. Here are some key steps you can start with:

  • Set up automatic credit payments

  • Regularly monitor your credit report

  • Watch out for identity theft or fraud

Set up automatic payments

Paying your bills and credit accounts on time is essential to maintaining an excellent credit score.One missed payment could decrease your credit score by as much as 150 points, depending on how long it’s left unpaid.

To avoid missed payments, you can set up regular payments for your various bills, accounts, and subscriptions. These could include your phone bill, your internet bill, and your streaming services. You could also authorize auto-pay on your credit card bill so that the minimum required payment is made each month towards your balance.

Regularly monitor your credit report

Regularly monitoring your credit report can help you safeguard your financial health. By keeping regular tabs on your credit report, you can spot errors that could be bringing your credit score down. You cansign up for Borrowellto download and print your Equifax credit report for free.

If you spot an error on your credit report, it’s important to dispute it as soon as possible. You candispute your credit reportby providing the appropriate documents to Canada’s credit bureaus through mail or online.

Watch out for identity theft or fraud

Regularly monitoring your credit report can also help you spot any suspicious financial activity that’s been made in your name. If you see any new loans or credit cards that have been opened without your knowledge, you may be the victim of identity theft or fraud.

Canadians with excellent credit scores are often enticing fraud targets, as thieves and hackers are looking to capitalize on your hard-earned credit score to get quick cash. Keep an eye out for any new accounts you didn’t authorize and report any issues to the appropriate lender and credit bureau right away.

How Can You Scale Your Credit Score Even Higher?

750 is an excellent credit score, but that shouldn’t stop you from working towards a perfect credit score! Here are some specific ways you can scale your credit score even higher:

  • Lower your credit utilization rate

  • Continue making on-time payments

  • Limit hard pulls on your credit score

Lower your credit utilization rate

Your credit utilization is the amount of credit you've used out of the total amount of credit available to you.The lower your credit utilization, the more attractive you are to lenders. Credit utilization is one of larger factors that impacts your credit score, making up roughly 30% of your score.

To maintain an excellent credit score, you should aim to keep your total credit utilization below 30%. This means if you have multiple credit cards with a total credit limit of $10,000, then you should keep your total balance across these cards below $3,000.

Continue making on-time payments

Your payment history is the largest factor that impacts your credit score, making up 35% of your score. Paying your bills on time is the most important thing you can do to maintain an excellent credit score.

To ensure that you pay all of your bills on time, every time, you can use Borrowell’sfree bill trackingsolution to monitor and predict your upcoming bills. If you happen to have any overdue bills or accounts, you should prioritize paying off the oldest ones first.

Limit hard pulls on your credit report

The number of credit inquiries listed on your credit report have an impact on your overall credit score, making up 10% of your score. Soft credit inquiries, like checking your own credit score using Borrowell, do not impact your credit score. Hard credit inquiries, or hard credit pulls,doimpact your credit score and can temporarily lower it.

Hard credit inquiries are formal reviews of your credit report. When you apply for certain financial products, lenders take a deep dive into your credit history before approving your credit application. Hard inquiries can impact your credit score, so you should limit the number of hard pulls that you authorize to avoid impacting your credit score.

If you’re shopping around for credit cards, loans, or mortgages, you should compare products using the Borrowell platform before picking one to apply for. This can help you limit hard pulls on your credit report and keep your credit score excellent.

The Bottom Line

Your credit score is an integral part of your financial toolkit. With a 750 credit score, you have excellent credit in Canada. You’ll have access to lower interest rates, better credit terms, and higher credit limits from Canada's top lenders. If your credit score is below 750, there’s always room for improvement. With the steps and resources outlined above, you’ll be on the right track to building an excellent credit score.

Monitor your credit score with Borrowell

Use Borrowell to get weekly updates on your credit score. Get coached on how to improve your financial habits and work your way towards an excellent credit score. Signing up only takes 3 minutes. No credit card required.

Sign Up for Borrowell


Is 750 a Good Credit Score? ›

A 750 credit score is considered excellent and above the average score in America. Your credit score helps lenders decide if you qualify for products like credit cards and loans, and your interest rate.

What can a 750 credit score do for you? ›

Bottom line. A 750 credit score is considered “very good,” and it means that banks will be more likely to loan you money and approve you for credit cards. Plus, good scores can lead to other perks, like lower insurance premiums.

Is 750 the same as 800 credit score? ›

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.

What percentage of the population has a credit score of 750? ›

Credit Score Statistics FAQ

According to FICO's most recent report in April 2021, 23.3% of the US population have an excellent credit score of 800 and more, while another 23.1% have a credit score of between 750 and 799.

How good is 800 credit score? ›

Your 800 FICO® Score falls in the range of scores, from 800 to 850, that is categorized as Exceptional. Your FICO® Score is well above the average credit score, and you are likely to receive easy approvals when applying for new credit. 21% of all consumers have FICO® Scores in the Exceptional range.

How rare is a 750 credit score? ›

Your credit score helps lenders decide if you qualify for products like credit cards and loans, and your interest rate. You are one of the 46% of Americans who had a score of 750 or above in 2021, according to credit scoring company FICO. Here's how your 750 credit score can affect your financial life.

What is a perfect credit score? ›

A perfect credit score of 850 is hard to get, but an excellent credit score is more achievable.

How many people have 850 credit score? ›

While achieving a perfect 850 credit score is rare, it's not impossible. About 1.3% of consumers have one, according to Experian's latest data.

What is a good credit score to buy a house? ›

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 easy is it to get a 750 credit score? ›

Give it some time

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.

What kind of loan can you get with a 750 credit score? ›

Conventional loans have a minimum credit score requirement of 620; this is why with 750, you have a solid chance of getting approved. You can even qualify for jumbo loans, a type of conventional loan that will let you borrow a more considerable loan amount than usual.

What is my credit limit with 750 credit score? ›

The credit limit you can get with a 750 credit score is likely in the $1,000-$15,000 range, but a higher limit is possible. The reason for the big range is that credit limits aren't solely determined by your credit score.

Who has the highest credit score in America? ›

'Don't call me frugal': Meet the man with the highest credit score in America despite owning EIGHT credit cards and having an outstanding mortgage
  • Cleveland man Tom Pavelka, 56, has a credit score of 848 out of 850.
  • His rating 'ranks higher than 100 per cent of U.S. consumers'
Oct 25, 2012

Why is it so hard to get a 800 credit score? ›

Average age of oldest active account among those with credit scores of 800 or higher. Length of credit history accounts for 15% of a credit score, making it the third most important factor. Having a longer credit history generally helps boost your score because it gives lenders a better look at your repayment patterns.

What can you afford with a credit score of 800? ›

You can borrow over $100,000 with an 800 credit score if you get a mortgage or a home equity loan. Keep in mind, the exact amount of money you will get depends on other factors in addition to your credit score, such as your income, your employment status and even the lender.

How to get a credit score of 900? ›

7 ways to achieve a perfect credit score
  1. Maintain a consistent payment history. ...
  2. Monitor your credit score regularly. ...
  3. Keep old accounts open and use them sporadically. ...
  4. Report your on-time rent and utility payments. ...
  5. Increase your credit limit when possible. ...
  6. Avoid maxing out your credit cards. ...
  7. Balance your credit utilization.
Feb 15, 2023

Can you get a line of credit with a 750 credit score? ›

With a 750 credit score, you can get a personal loan, line of credit, mortgage, car loan, and more. You can also qualify for different credit cards and lower interest rates on your loan applications. A 750 credit score qualifies you to achieve those financial dreams of yours in a much better and faster way.

What can you do with a 850 credit score? ›

What Can You Do With an 850 Credit Score?
  • Approvals for the best credit cards, such as those that offer the highest rates of rewards and the most valuable benefits.
  • Lower interest rates on credit cards, personal loans, mortgages, and more, which can offer huge savings any time you need to access credit.
Jun 12, 2023

What is the highest credit score possible? ›

For both the VantageScore and base FICO® score models, the lowest score is 300 and the highest credit score is 850. But even if you have pretty good credit habits, don't be surprised if you check your scores and find that you're below 850. What are the benefits of having higher credit scores?


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