Hit 750 on my credit score and everyone says congrats but I don't get the hype

I worked 2 years to get my score from 620 to 750. Paid off a $3,800 collection from a medical bill and kept my credit card usage under 10%. Everyone in these forums acts like 750 is some magic number but I applied for a car loan last month and still got a 7.2% rate. My friend has a 680 and got 6.8% from the same bank. So what's the point of grinding for that extra 70 points if lenders don't even reward it fairly? Has anyone else noticed the system feels rigged past a certain point?

2 comments

2 Comments

river_burns12d ago

Why would you care about a score that doesn't actually save you money? Got a 750 myself and still got offered 8% on a loan last year. Lenders only care if you're under 600 or over 800. That middle ground is just noise for them. You're better off focusing on your debt to income ratio and making sure the bank you're working with is a credit union, not a national chain. Their rates are a joke for anyone in the 650-780 range.

emma7212d ago

Start by asking what bank you're even using because 8% on a 750 is wild. I got a 720 last year and walked into my local credit union and they gave me 4.5% on a used car loan. Your score absolutely matters if you shop around. Those national chains are just ripping people off in that middle range because they know you'll take whatever they offer. Lenders literally pull your score and have different tiers for rates, and a 750 vs 700 can be a few hundred bucks difference over the life of a loan. You can't just give up and say the middle range is noise when you're getting played by the wrong lender.