WHAT DOES A CREDIT SCORE 763 MEAN?

A 763 credit score is  an excellent one.

A credit score of 763 should qualify you for most loans, credit cards and other lines of credit. 

 A 763 score means you’ve been doing almost everything right with very little error.

Most people consider excellent credit to be a score of 720+. But we actually recommend setting the bar a bit higher at 750+, based on the approval rates going for loans and lines of credit.

CREDIT SCORE CREDIT RATING
650 FAIR CREDIT
700 GOOD CREDIT
763 EXCELLENT CREDIT
800 PERFECT CREDIT

COMPARE YOUR 763 SCORE TO OTHER CREDIT SCORES

HERE’S HOW TO GET A 763 CREDIT SCORE:

1. ALWAYS PAY YOUR BILLS ON TIME:

Payment history counts the most — 35% — when it comes to calculating your credit score. Plus, how well you keep up with your payments is reflected in your credit report, which lenders use to gauge your creditworthiness

Missed payments are the trademark of a risky borrower, indicating irresponsibility and potential financial distress.

2. REDUCE CREDIT CARD DEBT

Carrying a large amount of credit card debt is a huge financial liability that can backfire and cause you to miss a payment, and lenders know it.

Reducing credit card debt can decrease your credit utilization which is a key ingredient in your credit score. 

3. MONITOR YOUR CREDIT

Keeping tabs on your credit by regularly viewing your credit reports and scores is a key to getting and keeping a great score.

By monitoring, you can detect errors or fraudulent activity as early as possible so you can take action to protect your credit.

HOW TO IMPROVE YOUR CREDIT SCORE FROM 763 TO 800

1. LIMIT YOUR CREDIT UTILIZATION

To determine your credit utilization, divide how much you owe by your total credit limit.

Calculate credit utilization on each of your credit card accounts, as well as an overall calculation across all accounts.

People with credit scores of 800 and above use less than 5% of their available credit,  while people with scores from 701 to 750 have 25% credit utilization. 

2. FEW HARD INQUIRIES

Hard inquiries occur when you apply for a loan or credit card and the lender initiates a hard pull on your credit.

Unfortunately, each hard inquiry can lower your credit score by a few points, which could last around six months to a year.

3. CREDIT AGE

People with longer credit histories tend to have higher scores than those with more limited credit histories.

IN SHORT PAY ALL YOUR BILLS ON TIME EVERY MONTH AND MANAGE YOUR FINANCES RESPONSIBLY IF YOU WANT TO MAINTAIN YOUR 763 CREDIT SCORE, LET ALONE IMPROVE IT. 

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