WHAT DOES A CREDIT SCORE 800 MEAN?

An 800 credit score is considered a great credit score

Any credit score of 800 or higher indicates that you have been using loans, credit cards and other lines of credit responsibly for several years, paying your monthly bills on time and keeping your credit report clear of negative information.

People with credit scores of 800 and 850, respectively, are pretty much equally unlikely to default on financial obligations.

BENEFITS OF An 800 CREDIT SCORE

With an 800 credit score, you’ll gain advantages that you might not have had before. Here’s an idea of what you can expect:

Any Credit Card, No annual fee credit card,  Initial Credit Card Bonus, Credit Card with 0% Financing, No-Foreign-Fee Credit Card, Favorite Store’s Credit Card, Airline/Hotel Credit Card, Best Mortgage Rate, Auto Loan with 0% Intro Rate, Lowest Auto Insurance Premium, Best Personal Loan Rate


Credit limit increases: With a strong credit score serving as proof of your creditworthiness, You can get any credit card and you may be able to request and receive credit limit increases on your current accounts or request an increase on an account you just opened.

Pre-approval: This means the lender has checked your credit, and approved you for a specific mortgage or auto loan amount. Being pre-approved gives you the ability to negotiate and close loans much faster than average.

More Competitive Interest Rates: An 800 credit score can allow you access to much better interest rates than people with scores in the average or low ranges, which can save you money.

COMPARE YOUR 800 SCORE TO OTHER CREDIT SCORES

CREDIT SCORE CREDIT RATING
650 FAIR CREDIT
700 GOOD CREDIT
780 EXCELLENT CREDIT
800 PERFECT CREDIT
HERE’S HOW TO GET An 800 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 800 TO 850

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. 

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