Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Free Financial Advisor
The Free Financial Advisor
Brandon Marcus

Your Credit Score Is 720. How Much Money Could Getting to 760 Actually Save You?

Your Credit Score Is 720. How Much Money Could Getting to 760 Actually Save You?
A 720 credit score already falls in FICO’s Good range, but reaching 760 can potentially unlock better loan pricing and reduce interest costs on a major purchase – Shutterstock

A 720 credit score already puts you in a respectable credit range, but pushing it to 760 can matter when a lender prices a major loan. The catch is that there is no magic “$X savings” attached to those extra 40 points. Your actual benefit depends on the scoring model, lender, loan type, loan amount, and the other details in your application.

That makes the question more interesting than simply asking whether 760 looks better on a credit report. A higher score can sometimes translate into a lower interest rate, and on a large loan, even a relatively small rate difference can turn into real money.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.