The highest level of credit comes with a variety of perks, but the good news is that you don’t need to have a perfect 850 credit score to receive them: simply having a credit score above 800 (officially known as a good credit score) will give you the same benefits and advantages that come with a perfect credit score.
Achieving this kind of credit score takes time and effort, but it’s not as impossible as you might think: Experian reports that 22 percent of all consumers have achieved an excellent credit score, and even more (28 percent) are on their way to being in the very good credit score range.
If you have a credit score of 800, you’ve done everything necessary to prove you’re a creditworthy consumer. People with credit scores above 800 are unlikely to be told “no,” and banks and credit card issuers will be happy to lend to you, often on favorable terms.
Let’s take a closer look at what it means to have a credit score above 800, how to get an 800 credit score, and the perks that come with it.
What does it mean to have a credit score above 800?
Is 800 a good credit score? According to the FICO credit scoring system, it’s an exceptional score. Both the FICO and VantageScore credit scoring systems go up to 850, but you don’t actually need to reach 850 to get the same benefits as someone with a perfect credit score.
If your FICO score is 800, you have a very good credit history. You’ve probably used credit successfully for many years and have healthy credit accounts, including both revolving credit (such as a credit card) and installment credit (such as a mortgage).
This means you are an ideal credit consumer — responsible, financially prudent, and unlikely to default on your credit obligations.
Having a credit score above 800 means there isn’t much else you can do to improve your credit score. All you can do now is maintain the healthy credit habits that got you an 800+ credit score.
How to get an 800 credit score
So what are the actual steps to getting an 800 credit score? It starts with learning how to build credit, but it doesn’t end there. In addition to practicing responsible credit habits like making all your payments on time and paying off your balances regularly, there are a few more steps you need to take to improve your chances of getting an 800 credit score.
Keep your credit utilization ratio low
Aim to keep your credit utilization ratio as low as possible. This means paying off your balances in full regularly. According to FICO, someone with a credit score of 800 has a credit utilization ratio of about 11 percent. For example, if your total credit limit is $10,000, you shouldn’t carry balances of more than $1,100 across all your cards.
Monitor your credit score
Check your credit score regularly. Many popular credit monitoring services provide you with a weekly updated credit score along with analysis of why your score changed. Know what can raise and lower your score, and avoid things that could lower your credit score.
Check your credit report
It’s also a good idea to check your credit report with the three credit bureaus (Equifax, Experian, and TransUnion). Believe it or not, millions of Americans have errors on their credit reports, and those errors can unintentionally lower your credit score.
Make sure all the information on your credit report is accurate and learn how to dispute errors on your credit report with the credit bureaus.
Add to your credit portfolio
If you’re doing everything right and your credit score isn’t over 800 yet, you may simply need to wait. 15% of your credit score is determined by the length of your credit history, so it may take a while to build an 800 credit score, even if you’ve practiced responsible credit habits since opening your first credit card.
Also, unless you have multiple credits to your name, it may be difficult to achieve a credit score of 800. This doesn’t mean you should take out a mortgage or a car loan to get your credit score above 800, but if the only credit accounts you have on file are credit cards, it may be difficult to reach an 800 credit score.
If so, don’t worry: having excellent credit is just as good, and you can receive almost all of the benefits that come with a near-perfect credit score.
Benefits of a credit score of 800
In addition to all the perks of having good credit, there are some additional benefits of an 800 credit score you should know about.
What to do with a credit score of 800
Once you have an 800 credit score, continue the same good credit habits that got you there.
- Set up mobile alerts or sign up for autopay to manage your credit card and loan payments.
- Keep your credit utilization ratio as low as possible.
- If applicable, make sure you pay all credit card statement balances in full before the grace period ends.
Is there anything you shouldn’t do once you’ve achieved an 800 credit score? Don’t think that just because you’ve worked hard to achieve near-perfect credit, you can slack off on things a little. Even one missed payment can take you out of the excellent score range, just like any other scenario.
Conclusion
Is 800 a good credit score? Absolutely. With a FICO score above 800, you can enjoy all the benefits of near-perfect credit, so there’s not much reason to go to the extra mile to get an 850 credit score.
Instead, your goal should be to maintain a good credit score by making credit payments on time, keeping your credit utilization ratio as low as possible, and practicing the same responsible credit habits that got you that 800 credit score in the first place.
