The Advantages of a Credit Score of 800

An 800 credit score is a perfect credit score. Despite falling just short of the highest credit score available (850), a credit score of 800 is considered excellent. According to most lenders, there is generally no difference in their approval/denial ratio between someone with an 800 or an 850, so boosting your score from an 800 upward would not save you money on loans, lines of credit, vehicle insurance, or other financial products. Excellent is excellent, and you really don't need to improve upon excellent (although an 850 would give you bragging rights to achieving the highest score possible).

Individuals with credit ratings of 800 and 850 are equally unlikely to encounter issues with their financial responsibilities. A credit score of 800 or higher suggests that you've been responsibly using loans, credit cards, and other lines of credit for several years, paying your monthly bills on time and maintaining a clean credit report. In addition, according to VantageScore, tax liens and civil judgments appear on the credit records of only 0.1 percent of those with credit scores over 800.

VantageScore also shows that those with a credit score of 800 or higher have credit card limits of $46,700 on average, which they utilize less than 5% of. As a result, it should be no surprise that a credit score of 800 or higher generally entitles you to whatever credit card or loan you desire. Of course, because your income and previous financial commitments are considered, it does not always guarantee acceptance. However, an excellent rating surely will not prevent you from achieving your goals if you're prepared and have the income to support the lines of credit you're seeking out.

Advantages Of A Credit Score of 800 Or More

In most cases, if you hold a credit score of 800 or more, you'll be able to receive to the best borrowing rates and other benefits, like acquiring new loans with little or no money down, extended and/or special offers, and all the other great benefits that come with easier access to money - such as the ability to easily choose where you live and work, or what kind of automobile you drive. The following is only a sample of the benefits of having impeccable credit.

What Can A 800 Credit Score Do For You?

  1. Acquire credit cards with no annual fees, 0% Financing, Larger Sign-up Bonuses, No Foreign Fees from an Airline/Hotel, and Better Rewards
  2. The Best Mortgage Rates
  3. Auto Loans with 0% Intro Rates
  4. The Best Personal Loan Rates
  5. The Lowest Auto Insurance Premiums
  6. Easy Approval on Apartment Rentals or Similar

How to Get a Credit Score of 800?

There is no magic formula for obtaining a score of 800 or higher. In most circumstances, paying your bills on time each month and maintaining your credit usage below 15% are the keys to that doorway. Having a variety of revolving and fixed credit accounts (retailer credit, credit cards, auto loans, personal loans, home loans, etc.) is always sure to help, and so is the age of each one.

Do You Require a Credit Score of 850?

Nothing spectacular will happen if your credit score rises from 800 to 850. Most significantly, you are unlikely to save any more money or achieve better loan options. The truth is that the bragging rights that come with hitting the 850 mark seem to be the biggest actual benefit.

Do you have your mind set on achieving a credit score of 800 or above? Get started on your goals and read more about how to check your credit report for free in our blog.