How Good Is a Credit Score of 733?

FT Contributor
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A credit score of 733 is a “Good” credit score. Scores ranging between 670 and 739 are Good, whereas credit scores that range between 740 to 799 are considered “Very Good.” So a credit score of 733 is right on the cusp of being Very Good. Either way, it’s a good score to have.

Having a Good credit score can help with important things like getting a car or a home. Generally, loans are easier to obtain when you have a Good, Very Good, or “Exceptional” credit score.

We’ll explain what exactly it is that makes a credit score of 733 good, but also talk about ways that you can improve your score.

Why Your Credit Score Is 733

As we mentioned, 733 falls into the Good range of credit scores, meaning it’s a pretty good score to have. There is room for improvement, but a score of 733 means there are a lot of things you’ve probably done right. It means you have some good credit management habits forming, such as the following.

Good Credit Management

A score of 733 could mean that you have been proficient at managing your credit. Good credit management means that you have not gone delinquent on any of your accounts, your debt-to-income (DTI) ratio is on the lower side, and you’re not exceeding any of your credit limits. It’s recommended that you keep your DTI ratio below 30%.

Good habits to create are:

  • Paying down your balances monthly.
  • Not spending more than you can afford.
  • Avoiding accruing any interest.

These factors are all important in maintaining a good credit score.

Long Credit History

With a score of 733, you may have a long credit history. Long credit history is considered a history of at least 10 years. A longstanding credit history contributes to a good credit score because creditors want to see established credit when you’re applying for a loan or credit card.

Starting good credit habits at an early age can help create a long credit history. Once you turn 18, consider taking out a low-limit, low-interest credit card or a secured loan to help establish your credit history as soon as you can.

On-Time Payments

On-time payments are extremely important in maintaining a good credit score. If you have a credit score of 733, likely, you have never had a delinquent payment. Payment history can account for as much as 35% of your overall credit score. This makes it the biggest influence on your credit score of all these factors.

It’s important to understand that delinquent payments can contribute to lowering your credit score, even if it happens just one time. Be sure to always make your payment on time.

What Can You Do With a 733 Credit Score?

Having a Good, Very Good, or Excellent credit score allows you to have a lot of financial freedom as far as borrowing money goes. Your 733 credit score helps with the following:

  • Rewards credit cards: With a good credit score of 733, you are more likely to get approved for credit cards with rewards.
    • However, you won’t be able to get lower interest rates until you have a Very Good or Exceptional score. Lower interest rates can help you pay your balance quicker and stay up to date on your payments.
  • Taking out a mortgage: Buying a home is a huge responsibility. Mortgage lenders want to see that you have the financial responsibility to afford your monthly payments plus any other costs that go into owning a home.
    • With a credit score of 733, you’re likely to get pre-approved and/or approved for a mortgage.
  • Competitive rates on personal loans: A credit score of 733 offers you the ability to get better, more competitive rates on a personal loan if you need one. There are a lot of instances where a personal loan is helpful. Being able to get a personal loan at a lower rate allows you greater flexibility in your finances. 

Lenders prefer doing business with people with Good, Very Good, and Exceptional credit scores. Your 733 credit score is a direct indication that you’re responsible with your finances and thus greatly increases your chances of being approved for rewards credit cards, mortgages, and personal loans.

How to Improve a 733 Credit Score

Now that we have discussed the ways a 733 credit score can help you, let’s talk about the ways that you can improve your score. While 733 is considered Good, there is still an opportunity to get into the Very Good and Exceptional ranges of credit scores, too.

If you have a short credit history, make sure that you are getting into good spending and payment habits. Be sure to pay down your debts promptly and don’t spend more than you can afford. Look into options to start building your credit. Options like secured loans, or low-limit, low-interest credit cards may be a good way to start.

Credit cards are extremely helpful in building your credit, but you want to make sure you pay the balance down each month and keep your credit utilization low. Your debt-to-income ratio should be about 30% or lower. This means that your overall monthly debt is only 30% of your overall monthly income.

If any of your debts have gone into collections, be sure to pay those as soon as you possibly can. Once it has been paid off, this collections account will stay on your credit report, but the reporting bureau will note that it was settled. This is better than having an account in arrears.

This is an overview of what a 733 credit score looks like, what it can do for you, and ways you can improve your score. Remember, a 733 is categorized as “Good” but there is still room for improvement with this score.

A score of 733 is on the cusp of Very good. With a few responsible habits and improved credit management, you can reach the Very Good range of credit scores in a relatively short time.


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