Who Has a 723 Credit Score?

A 723 credit score is considered "Good" and sits above the average for younger generations but below the average for older ones. While age itself isn't a direct factor in credit scoring, there is a clear trend of scores improving over time, largely due to factors like a longer credit history. According to 2023 Experian data, here is the breakdown of average FICO scores 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 723 Credit Score

A credit score of 723 places you firmly in the "good" credit category, opening up a wide array of credit card options. You'll likely find yourself eligible for many cards that offer attractive rewards, such as cash back or travel points, and favorable terms. While this score positions you as a reliable borrower, the most elite cards and the lowest possible interest rates are often reserved for those with even higher, "excellent" scores.

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Kudos offers personalized recommendation engines like its Explore Tool, which uses your stated preferences to find the right card from a database of nearly 3,000 options. These tools allow you to compare cards side-by-side and provide insights into how a new card might impact your credit, ensuring you find a match that fits your financial situation.

Auto Loans and a 723 Credit Score

A 723 credit score is considered good, placing you in a strong position to secure an auto loan. You can generally expect to receive competitive interest rates, though they won't be the lowest available, which are reserved for borrowers with top-tier credit.

According to a 2025 guide on auto financing, here are the average interest rates based on credit score tiers:

• 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 723 Credit Score

With a 723 credit score, you are in a strong position to secure a home loan. This score is considered good and generally qualifies you for all major mortgage types, including conventional, FHA, VA, and USDA loans. According to a home buying guide, a 723 score also meets the typical 700+ minimum for jumbo loans, giving you a wide array of financing options to explore.

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Your credit score directly influences the terms of your mortgage. While the absolute best interest rates are often reserved for scores of 760 or higher, a 723 score will still grant you access to competitive rates. For conventional loans requiring private mortgage insurance (PMI), a better score can also lead to lower monthly premiums, reducing your overall housing cost.

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 723 Credit Score

While a 723 credit score is considered good, there is always room for improvement that can unlock better financial opportunities. With consistent effort and the right strategy, you can elevate your score into the excellent range using several proven methods.

• Lower your credit utilization. This ratio of how much credit you're using versus your total limit is a major scoring factor, so keeping it well below 30% is key. Paying down balances or increasing your credit limits shows lenders you manage debt responsibly, which can quickly boost a good score.
• Set up automatic bill payments. Your payment history is the single most important component of your credit score, and a single late payment can undo your hard work. Automating payments ensures you never miss a due date, protecting your 723 score and helping it grow steadily over time.
• Become an authorized user. If you have a trusted family member with a long-standing, well-managed credit card, being added as an authorized user can help your score. Their positive payment history and low utilization can be added to your credit profile, potentially increasing your average credit age.
• Diversify your credit mix. Lenders like to see that you can responsibly handle different types of credit, such as both revolving accounts (credit cards) and installment loans (auto or personal loans). Adding a different type of credit to your profile can demonstrate financial versatility and help push your score from good to great.

You can use a financial companion like Kudos to help manage your cards and monitor your score as you work to improve it.