WHAT DOES A CREDIT SCORE 780 MEAN?
A 780 credit score is an excellent one.
A credit score of 780 should qualify you for
most loans, credit cards and other lines of credit.
A 780 score means you’ve been doing almost
everything right with very little error.
Most people consider excellent credit to be
a score of 720+. But we actually recommend
setting the bar a bit higher at 750+, based
on the approval rates going for loans and lines of credit.
COMPARE YOUR 780 SCORE TO OTHER CREDIT SCORES
HERE’S HOW TO GET A 780 CREDIT SCORE:
1. ALWAYS PAY YOUR BILLS ON TIME:
Payment history counts the most — 35%
when it comes to calculating your credit score.
Plus, how well you keep up with your payments is reflected in your credit report, which lenders
use to gauge your creditworthiness
Missed payments are the trademark of a
risky borrower, indicating irresponsibility and
potential financial distress.
2. REDUCE CREDIT CARD DEBT
Carrying a large amount of credit card
debt is a huge financial liability that can
backfire and cause you to miss a payment,
and lenders know it.
Reducing credit card debt can decrease your credit utilization which is a key ingredient in your credit score.
3. MONITOR YOUR CREDIT
Keeping tabs on your credit by regularly
viewing your credit reports and scores is
a key to getting and keeping a great score.
By monitoring, you can detect errors or
fraudulent activity as early as possible
so you can take action to protect your credit.
HOW TO IMPROVE YOUR CREDIT SCORE
FROM 780 TO 800
1. LIMIT YOUR CREDIT UTILIZATION
To determine your credit utilization, divide how
much you owe by your total credit limit.
Calculate credit utilization on each of your
credit card accounts, as well as an overall
calculation across all accounts.
People with credit scores of 800 and
above use less than 5% of their available credit,
while people with scores from 701 to 750 have
25% credit utilization.
2. FEW HARD INQUIRIES
Hard inquiries occur when you apply for a
loan or credit card and the lender initiates
a hard pull on your credit.
Unfortunately, each hard inquiry can
lower your credit score by a few points,
which could last around six months to a year.
3. CREDIT AGE
People with longer credit histories tend to
have higher scores than those with more
limited credit histories.
IN SHORT PAY ALL YOUR BILLS ON TIME EVERY MONTH AND MANAGE YOUR FINANCES
RESPONSIBLY IF YOU WANT TO MAINTAIN YOUR 780 CREDIT SCORE, LET ALONE IMPROVE IT.