Who Has a 702 Credit Score?

According to 2023 Experian data, average FICO scores tend to increase with age. Here is the breakdown by generation:

• Generation Z (ages 18-26): 680
• Millennials (ages 27-42): 690
• Generation X (ages 43-58): 709
• Baby Boomers (ages 59-77): 745
• Silent Generation (ages 78+): 760

Credit Cards With a 702 Credit Score

With a 702 credit score, you're in a great position, as this number falls squarely into the "good" credit range. Lenders generally view this score favorably, meaning you'll likely be approved for a wide variety of credit cards, though some of the most exclusive, premium cards might remain just out of reach. Still, you can expect to qualify for cards offering valuable rewards, decent interest rates, and useful benefits, making it an excellent starting point for accessing quality financial products.

‍

Kudos simplifies the search with its personalized Explore Tool, which matches you with cards based on your stated preferences and financial needs. The platform considers your unique situation by filtering through thousands of options to recommend cards suitable for different credit profiles, ensuring you find the right fit.

Auto Loans and a 702 Credit Score

With a 702 credit score, you fall into the 'prime' borrower category, which generally qualifies you for competitive interest rates on an auto loan. Lenders will view you as a reliable borrower, increasing your approval odds for financing on both new and used vehicles.

• Super-prime (781-850): 5.25% for new cars and 7.13% for used cars, according to Q2 2025 data.
• 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 702 Credit Score

A 702 credit score puts you in a great position to secure a mortgage. You'll find that you meet the credit score requirements for all major loan types, including conventional, FHA, VA, USDA, and even jumbo loans. Lenders view a score in the 700s favorably, giving you access to a much wider range of financing options than borrowers with lower scores.

This score also positively impacts your loan terms. You can expect a lower interest rate and reduced private mortgage insurance (PMI) premiums compared to applicants with scores in the 600s. While not the absolute top tier, a 702 score provides significant advantages and negotiating power, leading to substantial savings.

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's primarily based on a handful of key financial habits. The most common factors include:

• Your payment history tracks whether you have paid past credit accounts on time.
• Credit utilization is the percentage of your available credit that you are currently using.
• The length of your credit history considers the age of your oldest account and the average age of all your accounts.
• Having a healthy mix of credit types, such as credit cards and installment loans, can positively impact your score.
• Recent credit inquiries and newly opened accounts can temporarily lower your score.

How to Improve Your 702 Credit Score

While a 702 credit score is considered good, there's always room for improvement that can unlock better financial opportunities. With consistent effort and the right strategy, you can boost your score using several proven methods.

• Reduce your credit utilization ratio. This ratio measures how much of your available credit you're using, and keeping it low shows lenders you manage your finances responsibly. Aiming for a utilization rate below 30% can significantly improve your score and move you into a higher tier.
• Establish automatic bill payments. Your payment history is the single most important factor in your credit score, so even one late payment can be damaging. Setting up automatic payments ensures you never miss a due date, protecting your score from accidental drops.
• Diversify your credit mix. Lenders like to see that you can responsibly handle different types of credit, such as credit cards and installment loans. Adding a new type of credit to your profile can demonstrate financial versatility and provide a boost to your score.
• Limit new credit applications. Each time you apply for credit, it can trigger a hard inquiry that may temporarily lower your score. Spacing out your applications prevents these small dips from adding up and signaling financial distress to lenders.

For a financial companion that helps you manage your cards and monitor your score, consider using Kudos on your credit improvement journey.