Who Has a 787 Credit Score?

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

As the Experian data shows, the average credit score steadily increases with age. While age itself isn't a scoring factor, older individuals have typically had more time to build a longer credit history and demonstrate a consistent track record of payments—two key components of a high score.

Credit Cards With a 787 Credit Score

A 787 credit score places you in the excellent credit tier, which is a fantastic position to be in when applying for a new credit card. Lenders view this score as a sign of a highly responsible borrower, significantly increasing your approval odds for even the most premium cards. Consequently, you can expect to qualify for cards with the best rewards, lowest interest rates, and most attractive introductory offers available on the market.

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Kudos offers personalized tools like the Explore Tool and Dream Wallet, which use your preferences and spending habits to match you with the ideal card from a database of nearly 3,000 options. The platform also provides insights into how a new card could impact your credit and helps you evaluate if a card's annual fees are justified for your financial situation.

Auto Loans and a 787 Credit Score

A 787 credit score places you in the top tier of borrowers, often referred to as super-prime. This excellent score significantly increases your chances of loan approval and qualifies you for the most competitive interest rates available.

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

Mortgages at a 787 Credit Score

A 787 credit score is considered excellent and qualifies you for all major mortgage types, including conventional, jumbo, FHA, VA, and USDA loans. Lenders view you as a low-risk borrower, opening the door to virtually any home financing option, from government-backed programs to specialty loans for first-time buyers.

This high score translates to significant financial benefits. You'll be eligible for the most favorable loan terms, including the lowest interest rates available—potentially saving you thousands. Top-tier borrowers recently saw rates around 6.2%, far below the 7.8% offered to those with lower scores. You can also expect an easier approval process and reduced private mortgage insurance (PMI) premiums.

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 payment history, which tracks whether you pay your bills on time, is the most significant factor.
• Credit utilization, or the amount of credit you're using compared to your total available credit, also plays a major role.
• The length of your credit history demonstrates your experience with managing credit over time.
• Having a healthy mix of different types of credit, such as credit cards and installment loans, can positively impact your score.
• Finally, recent credit inquiries, which occur when you apply for new credit, are also taken into account.

How to Improve Your 787 Credit Score

Even with a very good score of 787, there is always room for improvement, and consistent, positive financial habits can push you into the excellent tier. Taking a few strategic steps can help you achieve an even higher score and unlock the best financial opportunities.

• Monitor your credit reports. Regularly checking your reports from all three bureaus ensures that no errors or fraudulent activity can unexpectedly damage your high score. This vigilance is key to protecting the credit you've worked hard to build.
• Lower your credit utilization. Keeping your credit utilization ratio well below 30% is crucial for preventing score drops, even for those who already have high credit limits. Paying down balances before your statement date can help maintain this low ratio.
• Become an authorized user. Being added to an account with a long history of on-time payments can add more positive data to your file. This also increases your total available credit, which can further strengthen your already high score.
• Diversify your credit mix. Lenders like to see that you can responsibly manage different types of credit, not just credit cards. Adding an installment loan to your profile can demonstrate this ability and potentially add a few points to your score.

For personalized help managing your cards and maximizing your financial health, let Kudos be your guide.