The highest possible credit score that you can earn is 850 – and under commonly used scoring models, credit scores from 800 to 850 are considered “exceptional.” An 800 credit score may sound like a financial unicorn, but it’s more achievable than most people think – and the tips for how to get an 800 credit score are surprisingly straightforward.
Here’s what many people don’t know: You don’t need an 800+ credit score to qualify for the best rates on loans. Once you hit the range of 740 and above, you’re already in the highest credit tier with many lenders.
So what separates people with exceptional credit from everyone else? Here’s a breakdown of the specific habits and strategies that will help you reach 800 (or higher).
Key Takeaways:
- Getting an 800 credit score relies heavily on paying your debts on time and maintaining a low credit utilization rate.
- Even with excellent credit, you may still not get approved for some loan products if other aspects of your financial situation don’t meet the borrowing criteria.
- The factor that has the most significant impact on your credit score is your payment history, particularly late payments. A single missed payment that’s 30 days or more overdue can seriously harm your credit score.
What It Means To Have An 800 Credit Score
Having a credit score above 800 demonstrates to lenders that you can responsibly manage your debt obligations: That includes paying your bills on time and maintaining a credit usage level that is sustainable compared to your available credit limits.
The types of debt obligations that can shape your credit score include credit cards, auto loans, mortgages, student loans and personal loans – basically, any installment loan that is reported to the credit bureaus Equifax, Experian and TransUnion.
A higher credit score also means you’re more likely to secure competitive interest rates for loans, because lenders view you as a creditworthy borrower. You pose less of a default risk to lenders than someone with less-than-stellar credit, which may indicate more struggles with repaying and managing debt.
Having an 800+ credit score unlocks access to lower mortgage rates, potentially saving you thousands in interest over the life of a loan. However, having a high credit score doesn’t guarantee automatic approval for a home loan if other qualifying criteria aren’t met.
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Credit Score Ranges
Before trying to attain an 800+ credit score, it’s helpful to know what the scoring ranges are that lenders use to determine your creditworthiness.
The FICO® score, developed by the Fair Isaac Corporation, is the most widely used credit score among major lenders in the United States. The company generates its scores from credit report data from the nation’s three major credit bureaus: Equifax, Experian and TransUnion.
Here are the five FICO® score ranges.
| Credit Score Range | Credit Rating |
|---|---|
| 800 – 850 | Exceptional |
| 740 – 799 | Very Good |
| 670 – 739 | Good |
| 580 – 669 | Fair |
| 300 – 579 | Poor |
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What Factor Has The Biggest Impact On A Credit Score?
Before working on boosting your score, you need to understand what goes into the calculation. Here’s a look at how the two major credit scoring models (FICO® and VantageScore®) come up with your scores.
FICO® Score
Here are five factors that determine your FICO® score:
- Payment history (35%): Credit bureaus look at whether or not you pay your bills on time.
- Credit utilization (30%): This measures how much available credit you’re using. Experts generally recommend keeping this rate below 30% on each open account.
- Length of credit history (15%): How long you’ve had your credit accounts is another key component of your score.
- Credit mix (10%): Having a variety of credit types (cards, installment loans, mortgages) also factors into the mix.
- New credit (10%): The number of recent credit inquiries and new accounts isn’t a significant factor, but it does play a role in the calculation of your score.
VantageScore®
Similar to FICO®, VantageScore® is a newer credit scoring model in the industry. Both models measure the same factors, but VantageScore® weights some things differently:
- Payment history (41%)
- Age/mix of credit (20%)
- Credit utilization (20%)
- New credit (11%)
- Balance (6%)
- Available credit (2%)
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How To Get An 800 Credit Score: 6 Steps To Success
If having exceptional credit is on your financial to-do list, here are some strategies to help get you there.
1. Always Make On-Time Payments
The absolute best way to raise your credit score? Making on-time payments, every time. An easy way to set it and forget it is by automating payments on each account so you’re never late.
“Ideally, you’re going to set it up for autopay for the balance, so you’re not paying really high interest,” says Rae Hartley Beck, a certified financial planner with Bright Road Wealth Management in Grand Junction, Colorado. “But that’s not how [our] lives work. So, at the very least, make sure your autopay is set up for the minimum payment every month.”
2. Pay Off Balances In Full
You might’ve heard the myth that you need to carry a balance month-to-month to build credit. That’s simply not true, Beck says – and doing that costs you in unnecessary interest charges. Instead, charge only what you can afford to pay off in full each month to avoid a debt trap that will require repairing your credit later on.
Currently, the national average interest rate for credit cards is about 21.39%, according to the Federal Reserve. You could be throwing away hundreds (or thousands) of dollars annually if you’re continually carrying a balance.
“You do not have to have any debt to have a really good credit score,” Beck emphasizes. “You can and should be paying off your credit cards every month.”
3. Keep Your Credit Utilization Ratio Low
Your credit utilization ratio – the percentage of available credit you’re using – is one of the key factors that go into your score. A general rule is to keep that number below 30% across each of your balances. But people with 800+ credit scores aim for 10% or less.
To improve your credit utilization fast, here are some reliable strategies:
- Pay down existing balances. This is the most direct method. Focus on cards with the higher balance-to-limit ratios first for maximum effect.
- Request a credit limit increase. More available credit translates into a lower utilization rate, even with the same balance. Most issuers allow online requests without requiring a hard credit pull. “Every time you have an increase in income (or at least yearly), it’s a good habit to ask for a [credit] limit increase,” says Gloria Garcia Cisneros, a certified financial planner and wealth manager with LourdMurray in Los Angeles.
- Open a new card. Doing so increases your total available credit. However, Beck cautions against doing this within two months of applying for a mortgage, as new accounts temporarily lower your average credit age.
4. Build Your Credit History Strategically
Since the length of credit history accounts for 15% of your score in most cases, it may take time to see fruitful results. Beck says her approach was methodical: She opened her first credit card at age 18 through a student bank account. Then, she opened a new credit card every year and kept them all active by paying small recurring charges automatically.
By the age of 24, Beck had bought her first home. Her oldest account had been open for 6 years, with an average credit age of around 3.5 to 4 years, and an 800+ credit score. “I had really strong credit, and I was able to get really good rates on my mortgage and for home insurance,” Beck says. “So many doors open when you’ve got a good credit score.”
As you build credit, though, be mindful of overdoing it on new accounts, Cisneros cautions.
One of the most common mistakes? “Opening up too many new cards at once or forgetting what types of things trigger a hard credit inquiry,” Cisneros explains, noting that shopping for a mortgage or auto loan can impact your credit score.
5. Avoid Closing Old Accounts (Or Going Inactive)
Closing paid-off older cards can potentially reduce your available credit or average account age, which may slightly reduce your credit score. Two things happen: It removes an account with a longer history, and it can reduce your total available credit, causing your credit utilization rate to increase.
Another issue is letting cards go inactive for too long. This can trigger an involuntary account closure where the credit card company kicks you to the curb. While this won’t cause a massive hit to your score, it can lower it by 10 to 20 points, Beck says.
If you close old accounts, Cisneros says, you can potentially make up some of the credit score hit by asking for an increased credit limit on the cards you’re keeping. And if you have credit cards with annual fees that you can’t justify due to lack of usage, consider requesting a downgrade to a no-fee version of the same card rather than closing the account.
6. Give It Time
Depending on where you start, it can take months – or even years – to see a meaningful lift in your credit score. If you do everything right, time will handle the rest, Cisneros says.
“Sometimes, the best thing you can do is just be patient and wait,” she says. “One of the factors that we have the least control over is the history of our accounts, and you can’t rush that.”
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The Bottom Line: Focus On High-Score Habits Rather Than The Number
There’s no magic formula to help you reach an 800 credit score. It’s about developing consistent habits over time that allow you to manage your finances responsibly and proactively.
Think of earning an 800+ credit score like you would getting in shape. Instead of obsessing over the number on a scale, think of the small habits that lead to success: eating better, moving more, gaining strength and boosting your confidence.
The same goes for building your credit. The responsible habits you learned and implemented to get an 800+ credit score will help you maintain your financial health for the long term. More importantly, you’ll stay in control of your money rather than letting your debt control you.
Ben Shapiro
Ben Shapiro is an award-winning financial analyst with nearly a decade of experience working in corporate finance in big banks, small-to-medium-size businesses, and mortgage finance. His expertise includes strategic application of macroeconomic analysis, financial data analysis, financial forecasting and strategic scenario planning. For the past four years, he has focused on the mortgage industry, applying economics to forecasting and strategic decision-making at Quicken Loans. Ben earned a bachelor’s degree in business with a minor in economics from California State University, Northridge, graduating cum laude and with honors. He also served as an officer in an allied military for five years, responsible for the welfare of 300 soldiers and eight direct reports before age 25.
