What a 720 credit score gets you
Mortgage
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Every loan type is open and you are in the 720–739 band. That band is priced close to 700–719 and clearly above 740–759, so a mortgage priced at 720 looks a lot like one priced at 700.
Car loan
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In a competitive band in the published car-loan reference data, and near the floor of the published FICO car rates. From here, a shorter loan term can move the published rate more than extra points would.
Credit cards
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The CFPB's card-terms survey draws its top line here: 720 and up counts as great credit, 620 to 719 as good. For premium cards, income and recent applications now matter more than the score.
Renting
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Landlords who screen on credit will not hesitate over a 720.
These are broad credit-score categories, not approval odds. Lenders also assess income, debt, credit history and their own requirements.
What 720 costs you in interest
Look at the car chart first: from 720 to the top band the bars are nearly flat, so you already pay close to the least on offer. The mortgage chart tells a different story. Your bar sits almost level with 700–719, and the drop comes at 740.
$350,000 mortgage, 30-year fixed
At 720: 7.58%, $2,466 a month, $537,923 in interest over the loan.
| Score band | Rate | Monthly | Total interest | vs. best |
|---|---|---|---|---|
| 780–850 | 7.29% | $2,397 | $512,963 | – |
| 760–779 | 7.39% | $2,421 | $521,539 | +$8,576 |
| 740–759 Next | 7.47% | $2,440 | $528,423 | +$15,460 |
| 720–739 You | 7.58% | $2,466 | $537,923 | +$24,960 |
| 700–719 | 7.63% | $2,478 | $542,254 | +$29,290 |
| 680–699 | 7.75% | $2,507 | $552,679 | +$39,716 |
| 660–679 | 7.79% | $2,517 | $556,165 | +$43,201 |
| 640–659 | 7.9% | $2,544 | $565,775 | +$52,812 |
| 620–639 | 8.08% | $2,588 | $581,580 | +$68,617 |
$35,000 new car, 60 months
At 720: 6.4%, $683 a month, $5,991 in interest.
| Score band | Rate | Monthly | Total interest | vs. best |
|---|---|---|---|---|
| 780–850 | 6.2% | $680 | $5,794 | – |
| 760–779 | 6.24% | $681 | $5,834 | +$39 |
| 740–759 Next | 6.38% | $683 | $5,971 | +$177 |
| 720–739 You | 6.4% | $683 | $5,991 | +$196 |
| 700–719 | 6.85% | $691 | $6,434 | +$640 |
| 680–699 | 7.5% | $701 | $7,080 | +$1,285 |
| 660–679 | 8.3% | $715 | $7,883 | +$2,088 |
| 640–659 | 9.19% | $730 | $8,786 | +$2,992 |
National averages by FICO band from myFICO (data: Curinos), as of October 29, 2026. The rate you are offered depends on the lender, your down payment, income and debts. Where these rates come from.
What would a different score cost?
Same loan. Two scores. See the difference.
At 740 compared with 720
| Score | Reference rate | Monthly payment | Total interest |
|---|---|---|---|
| 720 | 7.58% | $2,466.45 | $537,922.84 |
| 740 | 7.47% | $2,440.06 | $528,423.37 |
At 740, the estimate is $26.39 less per month and $9,499.47 less interest over the full term.
Reference rates: 30-year fixed mortgages, October 29, 2026, myFICO (Curinos). Changing the amount or term holds these rates constant. Methodology.
What this estimate includes
Estimates use national average bands, not an offer or approval prediction. Your lender may use a different score. Mortgage payments exclude taxes, insurance, mortgage insurance and fees. Full-term interest assumes no refinancing, early payoff or extra payments.
How to get from 720 to 740 if a mortgage is coming
Twenty points at this level comes from habits, not repairs. If no home purchase is planned, you can skip this list.
- Report a small balance, not a big one. Amounts owed is 30% of the score, and it is the factor that responds fastest.
- Stop opening cards for sign-up bonuses before a mortgage. Each one adds an inquiry and a new account. It is an easy habit to fall into at a score where approvals come easily.
- Keep your oldest accounts open and occasionally used. Length of history is 15% of the score, and an old card you never touch is one you might lose.
- Check all three reports a few months before applying. The mortgage lender will pull all three, and errors take time to correct.
The car-loan reference rates improve further above 720, although the remaining steps in this dataset are smaller. Use the comparator with your amount and term to judge the difference, then compare actual offers and the cost of waiting.
What a Good score means (670 to 739)
A good score can give you a wider choice of lenders. This is the stretch where published reference bands can still change the estimate. 20.1% of Americans with a FICO score are in this range, according to Experian's 2025 data. What the good range means in practice.
Questions about a 720 score
Is 720 excellent credit?
Not by FICO's labels: 720 is Good, Very good starts at 740 and Exceptional at 800. The CFPB's credit card survey, though, puts 720 and up in its top group, which it calls great credit.
Is 720 a good credit score to buy a car?
Yes. It sits near the bottom of the published FICO car-loan rates, and the bands above it are priced only slightly lower. The loan term and the lender you choose matter more from here.
Sources (5)
- myFICO Loan Savings Calculator (rates by FICO band, data: Curinos), updated daily
- myFICO: What is a FICO Score? (score ranges and what goes into them)
- CFPB: Large banks charge higher credit card interest rates than small banks and credit unions, February 2024
- AnnualCreditReport.com (free reports from all three bureaus)
- Experian: What is the average credit score in the U.S.? (share of consumers in each FICO range), 2025 data, published March 2026
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