Is 737 a Good Credit Score?

737 credit score

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    By Kim Franke-Folstad

    A 737 credit score is near the top of what is considered the good range using both FICO® and VantageScore credit scoring models. That three-digit number could make it easier for you to qualify for a credit card or loan with a favorable interest rate.

    If you’ve been working hard to build or maintain your credit and you’re curious about where you stand as a potential borrower, read on for a look at what you can expect with a 737 credit score.

    Key Points

    •   A 737 credit score is classified as good, surpassing the average U.S. credit score of 717.

    •   Credit cards offering rewards and benefits are available with this score.

    •   Auto loans are typically available at prime APRs with a 737 score.

    •   Mortgages are accessible, though not necessarily at the lowest interest rates.

    •   Personal loans for various needs are likely to be approved with a 737 score.

    What Does a 737 Credit Score Mean?

    Using the popular FICO scoring model, a good score is anywhere from 670 to 739.

    FICO scores are organized into the following tiers:

    •   Poor: 300-579

    •   Fair: 580-669

    •   Good: 670-739

    •   Very good: 740-799

    •   Excellent (or Exceptional): 800-850

    The higher your score, the more likely you are to be offered the lowest-available interest rates and other perks — and that can save you money.

    With a 737 FICO Score, you’re solidly in the good range and just a couple of points from the very good range, which is 740 to 799. (The excellent or exceptional range, which is 800-plus, may even be within reach.) As a point of comparison, the average credit score in the U.S. is currently 717, so you are ranking above that figure. Nice work!

    What Else Can You Get With a 737 Credit Score?

    When you’re trying to determine what a 737 score can get you as a borrower, it’s important to note that lenders have multiple scoring models to choose from, including some that are industry-specific (for auto loans, mortgages, etc.). And it’s up to each individual lender to decide how it will assess credit scores.

    Lenders also generally look at other factors besides credit scores when assessing a borrower’s creditworthiness. If you have a low debt-to-income (DTI) ratio, solid employment, a good income, and cash in the bank or other assets, for example, a lender will typically take that into consideration when reviewing your loan or credit card application.

    With that in mind, here’s what you may be able to expect with a 737 credit score.

    Can I Get a Credit Card With a 737 Credit Score?

    A 737 credit score should be high enough for you to be approved for an unsecured credit card with some rewards or other benefits. But you may not qualify for a luxury or premium card, the lowest annual percentage rate (APR) offered, the highest credit limit, or certain premium rewards or privileges. The closer your score is to 800 or higher, the more likely it is you’ll be eligible for the cards with the most valuable perks.

    If you’re looking for a new credit card, it can be helpful to use a preapproval tool to compare various offers and find the best card for you. You also can get a good idea as to whether you’ll be approved for the card you want before you actually apply.

    While you’re doing your research, you also may want to look for cards that come with free credit score monitoring and/or an app that makes it easy and convenient to track your spending and saving. These extras can be useful as you work to keep improving your credit.

    One more note about credit cards: If you find your debt is higher than you’d like, you might consider a credit card consolidation loan, in which you replace high-interest credit card debts with a single installment loan, typically at a significantly lower interest rate.

    Can I Get an Auto Loan With a 737 Credit Score?

    The minimum credit score needed to get a car loan can vary from one lender to the next. And lenders may use an auto industry-specific scoring model that works a little differently than your basic credit score. But typically, if you have a credit score in the good range, you can qualify for an auto loan.

    For car buyers, a 737 credit score falls into what’s called the prime loan range, which means they can expect to be offered an APR that’s at least one or two percentage points higher than what buyers with credit scores in the next highest range (super prime) are paying. This might motivate you to wait before financing a car so you can build your credit score into that range.

    By the way, if you’re wondering if it makes more sense to buy a new or used car, there are pros and cons to each. It may seem counterintuitive, but it can be easier to get financing for a new car and a lower interest rate. (This is in part due to the predictable value of a new car vs. a used car presenting unknowns regarding how well it will run.) A used car is likely to have a lower price, though, and a shorter loan term. Which means you may pay less in interest over the life of the loan.

    Can I Get a Mortgage With a 737 Credit Score?

    Loan requirements, including minimum credit scores, can vary with different types of mortgages. And lenders may have their own credit score mortgage rate requirements as well. Here are some basics to consider:

    •   If you’re applying for a conventional mortgage loan, you typically will need a credit score of at least 620 to be approved. With a 737 credit score, lenders may not offer you the best interest rates available, but you may find you’re within a percentage point or less of better-qualified homebuyers.

    •   If you’re seeking a jumbo loan (with a principal of $806,500+ in most areas), you typically need at least a credit score of 700, so you are in good standing to seek approval.

    •   Although the Department of Veterans Affairs doesn’t set a minimum credit score requirement for VA loan borrowers, lenders typically like to see at least a 620. And you may qualify for a lower interest rate with your 737 credit score.

    •   Considering a government-insured FHA loan? Your 737 credit score can make you eligible for a lower down payment. Borrowers with a credit score as low as 500 can qualify, but with a credit score that’s 580 or higher, you can put down a minimum of 3.5%. If your credit score is between 500 and 579, your minimum down payment is 10%.

    •   A minimum score of 640 is recommended for most government-backed USDA loans, although borrowers without a credit history may be evaluated through other criteria.

    Though a 737 credit score should be high enough to qualify for any of these loan types, you may want to talk to a mortgage professional about how various costs might affect your monthly payments and which option might be right for you.

    Can I Get a Personal Loan With a 737 Credit Score?

    Unless lenders see some potential red flags when reviewing your application — maybe you haven’t had your job for very long or you don’t have much money in the bank — you should be able to qualify for unsecured personal loans with a 737 credit score.

    Personal loans can be used for almost any legal purpose you can think of. For instance, you might fund a vacation with the money, use it to finance a wedding, pay for home renovations, or take care of a major dental bill.

    A personal loan calculator can help you determine how much your monthly payments might be if you choose a personal loan. You can also calculate how much you could save by using a personal loan to pay off any existing high-interest debt that’s getting in the way of your goals.

    Recommended: How to Apply for a Personal Loan

    The Takeaway

    A 737 credit score is generally considered to be in the good range, and it’s higher than the current average credit score of 717 in America. If you’re looking to take out a loan or get a new credit card, most lenders are likely to treat you as a creditworthy candidate. While you may not qualify for the very best rates and terms, you should have options to consider when accessing credit.

    Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. Checking your rate takes just a minute.

    SoFi’s Personal Loan was named NerdWallet’s 2024 winner for Best Personal Loan overall.

    View your rate


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