Who Has a 720 Credit Score?

Generally, credit scores improve with age. Data from 2023 breaks down the average FICO score by generation:

• Generation Z (ages 18-26): The average score for the youngest adult generation is 680, which falls into the "Good" category.
• Millennials (ages 27-42): With an average score of 690, millennials also have "Good" credit ratings.
• Generation X (ages 43-58): This group's average FICO score is 709, also considered "Good."
• Baby Boomers (ages 59-77): Boomers have a strong average score of 745, which is on the high end of the "Good" range.
• Silent Generation (ages 78+): Boasting the highest average score of 760, this generation falls into the "Very Good" credit category.

Credit Cards With a 720 Credit Score

A credit score of 720 places you firmly in the "good" credit category, significantly broadening your credit card options. Lenders view this score as a sign of responsible credit management, making you a strong candidate for cards that offer premium rewards, lower interest rates, and attractive sign-up bonuses. Consequently, you'll likely find it much easier to get approved for a wider range of products, from top-tier travel cards to generous cash-back offers, than someone with a lower score.

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Kudos offers personalized tools like the Explore Tool, which uses a quiz about your preferences, and the Dream Wallet, which analyzes your spending habits to recommend the ideal card for your financial situation. These tools provide transparent, unbiased recommendations from a database of nearly 3,000 cards, helping you compare options and understand how each choice aligns with your credit profile and spending patterns.

Auto Loans and a 720 Credit Score

A 720 credit score places you in the prime borrower category, making you a very attractive candidate for an auto loan. This means you'll likely qualify for competitive interest rates, though not quite the lowest available, which are reserved for those with super-prime credit.

According to a 2025 analysis, here are the average auto loan interest rates broken down by credit score:

• Super-prime (781-850): 5.25% for new cars and 7.13% for used cars
• Prime (661-780): 6.87% for new cars and 9.36% for used cars
• Non-prime (601-660): 9.83% for new cars and 13.92% for used cars
• Subprime (501-600): 13.18% for new cars and 18.86% for used cars
• Deep subprime (300-500): 15.77% for new cars and 21.55% for used cars

Mortgages at a 720 Credit Score

A 720 credit score puts you in a strong position to buy a home. You'll qualify for nearly all major mortgage types, including conventional, jumbo, FHA, VA, and USDA loans. Lenders view this score favorably, as it's well above the typical minimum credit score requirements, like the 620 often needed for conventional loans.

This score also positively impacts your loan terms. You can expect lower interest rates than borrowers with scores in the 600s, saving you money over the loan's life. It can also lead to lower private mortgage insurance (PMI) premiums and gives you more negotiating power with lenders for better overall terms.

What's in a Credit Score?

Figuring out what goes into your credit score can feel like trying to solve a complex puzzle, but it generally boils down to a handful of key elements. The most common factors include:

• Your history of making payments on time is the most significant factor.
• How much of your available credit you're currently using, known as your credit utilization ratio, plays a major role.
• The age of your credit accounts, including the average age and the age of your oldest account, is also considered.
• Lenders like to see that you can responsibly manage different types of credit, such as credit cards and loans.
• Opening several new credit accounts in a short period can be seen as a risk and may temporarily lower your score.

How to Improve Your 720 Credit Score

Your credit score plays a crucial role in your financial life, and no matter where you stand, there is always room for improvement. Whether you're looking to boost your FICO® score or VantageScore, a few strategic moves can help improve your creditworthiness.

• Monitor your credit reports. For a score that's already good, the goal is to protect it from unexpected drops, and regularly checking for inaccuracies or signs of identity theft is a key part of that defense.
• Reduce your credit utilization ratio. Keeping your balances well below 30% of your available credit is one of the quickest ways to see a positive change, pushing a good score even higher.
• Diversify your credit mix. Lenders like to see that you can responsibly manage different types of credit, so adding an installment loan to your history of revolving credit can strengthen your profile.
• Become an authorized user. Being added to an account with a long, positive history can increase the average age of your accounts and add more on-time payments to your report, both of which can bolster a good score.

Using a financial companion like the Kudos browser extension can help you manage your cards and improve your financial health as you work to raise your score.