Who Has a 737 Credit Score?

While age isn't a direct factor in credit score calculations, there is a clear trend of scores improving over time. According to 2023 Experian data, here’s how average FICO scores break down 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
• The Silent Generation (ages 78+): 760

Credit Cards With a 737 Credit Score

A credit score of 737 places you firmly in the "good" credit range, significantly boosting your chances of approval for a wide variety of credit cards. Lenders will view you as a reliable borrower, opening the door to cards with competitive interest rates, valuable rewards programs, and attractive sign-up bonuses. While the most exclusive, top-tier cards may still require a higher score, a 737 is more than sufficient to qualify for many excellent and rewarding credit card options.

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Kudos offers personalized tools like the Explore Tool and Dream Wallet to help you find the perfect credit card by analyzing your preferences and real-time spending habits. These tools match your unique financial profile against a database of nearly 3,000 cards, ensuring the recommendations are tailored to your specific needs and credit situation.

Auto Loans and a 737 Credit Score

A 737 credit score places you in the prime borrower category, making you a very attractive candidate for an auto loan. You can expect to receive competitive interest rates, though they won't be quite as low as those offered to borrowers with super-prime scores.

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

Mortgages at a 737 Credit Score

A 737 credit score is considered very good and will qualify you for all major mortgage types. According to credit score requirements, this score is well above the minimums for conventional (620+), jumbo (700+), FHA (580+), VA (620+), and USDA (640+) loans, giving you a wide array of financing options.

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Your strong credit profile makes you a less risky borrower, which translates to significant benefits. You can expect an easier approval process, a wider selection of lenders, and potentially lower private mortgage insurance (PMI) premiums. While the very best interest rates are typically reserved for scores of 740 and above, a 737 will still secure a competitive rate and favorable loan 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 737 Credit Score

Your credit score plays a crucial role in your financial life, but it's not set in stone; there are always proven methods to improve it. With a 737 FICO® score, you're in a good position, and a few strategic moves can push you into the 'very good' or 'excellent' tiers.

• Reduce your credit utilization ratio. Keeping your balances well below the standard 30% recommendation is a key step to move from a 'good' to a 'very good' score.
• Establish automatic bill payments. Your payment history is the most significant factor in your score, and automating payments guarantees you won't have a late payment undo your hard work.
• Diversify your credit mix. Lenders like to see that you can manage different types of credit, so adding an installment loan to your existing credit cards can strengthen your financial profile.
• Limit hard inquiries. As you approach the threshold for premium credit products, be strategic about applications to avoid small, temporary score drops that can keep you from qualifying.

Using a tool like Kudos can help you manage your cards and maximize rewards as you work on improving your credit.