If your credit score is 734, you are right in the middle. According to Experian, the average American consumer has a FICO Score of 714 as of 2021, and anything in the range of 670 to 739 is generally considered to be a good credit score.
Most lenders consider an 734 credit score to be an average credit score that shows you generally pay your bills on time. In this article, we’ll take a deeper dive into what your 734 credit score means when it comes to applying for loans, and what you can do to improve your score.
A credit score of 734 is considered good by most lenders. With this score, you’ll likely qualify for favorable interest rates and terms on mortgages, auto loans, credit cards and other credit products. However, you may not get the absolute lowest rates or most exclusive offers reserved for borrowers with higher scores.
In this article, we’ll explore in detail the borrowing options and benefits available with a 734 credit score. We’ll also provide tips to further improve your score.
What is a Good Credit Score?
Credit scores generally range from 300 to 850. The FICO and VantageScore models which are the most commonly used have the following score ranges
- 800-850: Exceptional
- 740-799: Very Good
- 700-739: Good
- 650-699: Fair
- 600-649: Poor
- Below 600: Very Poor
So a score of 734 falls in the good credit range. Lenders view borrowers with good credit as acceptable risks. With a 734 score you’ll likely qualify for most loans and credit cards but you may not always get the best terms or features.
Mortgages with a 734 Credit Score
With a good 734 credit score, you should be able to qualify for a competitive mortgage rate. Here are some common mortgage types and the minimum score requirements:
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Conventional loans – Issued by private lenders. A minimum score of 620-640 is often needed, but scores of 700+ get the best rates.
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FHA loans – Minimum score of 580 for 3.5% down payment, 500 for 10%.
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VA loans – No minimum score, but most lenders want 620+
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USDA loans – No minimum score. For rural borrowers with low-to-moderate incomes.
While minimum scores vary by lender, borrowers with scores in the low 700s typically receive prime mortgage rates. Those with scores between 620-679 may pay a slightly higher rate. You can shop around with multiple lenders to find the best deal. Getting pre-approved can help you negotiate from a position of strength when making an offer.
Auto Loans with a 734 Credit Score
A 734 credit score makes you a well-qualified applicant for most auto loans. Lenders view borrowers differently, but you should be able to find competitive rates. Those with very good credit (740+) may qualify for 0% financing deals from automakers.
Before visiting dealerships, check your pre-approval odds online so you can compare potential rates and terms. Consider getting pre-approved officially from a bank or credit union. This shows dealers you’ve done your homework and makes your credit profile known upfront.
Credit Cards with a 734 Credit Score
A good 734 credit score opens the door to a wide variety of credit card rewards, including:
- Cash back
- Travel points
- 0% intro APR offers
- Lucrative sign-up bonuses
- Premium travel perks
Cards you may want to consider with a 734 score:
- Citi® Double Cash Card – 2% cash back on all purchases
- Chase Sapphire Preferred® Card – 80,000 point sign-up bonus
- Wells Fargo Reflect® Card – 0% intro APR for 18 months
- Capital One Venture Rewards Credit Card – 2X miles on all purchases
Pay your balances off in full each month to avoid interest charges. And make sure to choose a card that aligns with your spending habits and financial goals.
Personal Loans with a 734 Credit Score
A good credit score expands your borrowing options for personal loans. Those with fair credit often struggle to get approved or must accept high interest rates. But with a 734 score, you should qualify for most unsecured personal loans at reasonable rates.
Some common uses for personal loans include:
- Debt consolidation
- Major purchases
- Home renovations
- Medical expenses
- Auto repairs
- Moving expenses
- Weddings
Personal loan lenders care about your income, existing debts, and credit history in addition to your scores. Pre-qualifying online can give you an idea of the rates and terms you may qualify for. Then submit official applications to lenders that provide the best offers.
Tips to Raise Your 734 Credit Score
While a 734 credit score provides access to plenty of credit, you can potentially improve your terms by raising your score. Here are some tips:
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Lower credit utilization – Keep balances below 30% of your credit limits
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Pay bills on time – Payment history is very important. Automate payments to avoid lates.
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Check credit reports – Dispute any errors with the credit bureaus.
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Limit hard inquiries – Too many applications in a short period can lower your scores temporarily. Space out applications and avoid unnecessary hard pulls.
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Monitor credit – Sign up for free alerts so you can address issues proactively.
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Mix up credit types – Having both installment loans and credit cards can help.
With diligent credit management over time, you may be able to move your credit score into the very good range. This opens the door for top-tier interest rates and borrowing privileges.
The Bottom Line
A credit score of 734 is considered good by most lenders. With this score, you’ll likely qualify for competitive rates and terms on mortgages, auto loans, credit cards and other credit. However, you may not receive the absolute lowest rates or most exclusive offers reserved for borrowers with higher scores. Use the tips provided to continue building your credit profile and potentially improve your borrowing power. Monitor your scores regularly and practice good credit habits over the long term.
Can I get a credit card with an 734 credit score?
The short answer is yes. You should be able to get a standard (non-secured) credit card with a FICO Score in the realm of good credit scores. Having said that, there are a couple of big caveats.
For one thing, you aren’t likely to qualify for some of the best credit card offers in the market. To get the best rewards credit cards, balance transfer offers, and best 0% APR offers, lenders may want to see excellent credit, with scores significantly higher than yours. You also might not get as high of a credit limit as consumers with higher scores.
Second, your credit score is just one part of the credit card approval process. Lenders will also take your other debts and employment situation into consideration. In fact, it’s not uncommon for consumers in the elite credit tiers to get rejected because their other debts are a bit too high.
What does an 734 credit score mean?
As mentioned, an 734 credit score falls within the range that is typically considered to be good credit. Lenders will often consider a score in this range for loan approval. However, a score in this range isn’t in the “very good” or “exceptional” credit tiers, and generally won’t qualify for a lender’s best interest rates or loan terms.
Borrowers with an 734 credit score are considered to be relatively low risk when it comes to paying money back. Statistical default rates range from 4.6% for consumers in the 660-679 FICO Score range to 1.9% for those in the 720-739 range. While your score is definitely not indicative of bad credit, many borrowers in the good credit score range have late payments, a limited credit history, or adverse credit information (like a loan default) from several years ago, so lenders do tend to be a bit more cautious.
What Can I Get With 734 Credit Score? – CreditGuide360.com
FAQ
What can a 734 credit score get me?
A FICO® Score of 734 provides access to a broad array of loans and credit card products, but increasing your score can increase your odds of approval for an even greater number, at more affordable lending terms.
Can I buy a car with 734 credit score?
Can I get an auto loan with an 734 credit score? Absolutely. Your 734 credit score will qualify you for an auto loan, assuming your income justifies it.Dec 13, 2022
What credit score do you need for $100000?
It is possible to get a $100,000 personal loan, but it’s challenging. Lenders don’t typically offer loans as large as $100,000, with most banks and credit unions offering a maximum of $50,000. To qualify for a $100,000 personal loan, you’ll need a credit score of 720 or above and a high income.
Is credit rating 734 good?
Key Takeaways: A good credit score falls in the range of 661 to 780 for the VantageScore® 3.0 model.Mar 13, 2025
Is a 734 credit score a good credit score?
Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted. A 734 credit score is considered a good credit score by many lenders. Credit scores help lenders assess borrower risk and are based on credit reports, which outline your credit history.
Is a 734 FICO ® score good?
A 734 FICO ® Score is Good, but by raising your score into the Very Good range, you could qualify for lower interest rates and better borrowing terms. A great way to get started is to get your free credit report from Experian and check your credit score to find out the specific factors that impact your score the most.
Can you get a car loan with a 734 credit score?
You should be able to get approved for a decent car loan with a 734 credit score, considering that more than 60% of all auto loans go to people with credit scores below 740. Still, it’s important to compare your auto loan options carefully if you want to get a low APR.
Can you get a student loan with a 734 credit score?
Student loans are some of the easiest loans to get with a 734 credit score, seeing as more than 70% of them are given to applicants with a credit score below 740. A new degree may also make it easier to repay the loan if it leads to more income. Note: Borrower percentages above reflect 2022 Equifax data.
What is a good credit score?
Despite variations in credit scoring models, a score from the upper 600s to around the mid-700s is generally viewed as good on the standard scale of 300 to 850. Typically, the higher your credit scores, the better your chances of obtaining loans with favorable terms, including lower interest rates and fewer fees.