What an excellent credit score is—and how to get one (2024)

A perfect credit score of 850 is hard to get, but an excellent credit score is more achievable.

If you want to get the best credit cards, mortgages and competitive loan rates — which can save you money over time — excellent credit can help you qualify. "Excellent" is the highest tier of credit scores you can have.

When you apply for credit, lenders review a detailed summary of your financial history, known as your credit report, to determine whether you qualify for a particular form of credit. And one part of your credit report is the three-digit number known as your credit score.

Your credit score helps tell lenders your ability to repay money lent to you.

When determining your credit score, credit agencies consider several factors related to your financial history, including payment history (whether you paid your bill on time) and amounts owed, from your current and past credit accounts.

Below, Select explains what is an excellent credit score, how excellent credit can help you, tips on getting an excellent credit score and how to get a free credit score.

The rundown: Excellent credit scores

  • What is an excellent credit score?
  • How an excellent credit score can help you
  • How to get an excellent credit score
  • How to check your credit score for free

What is an excellent credit score?

Credit score ranges vary based on the credit scoring model used (FICO versus VantageScore) and the credit bureau (Experian, Equifax and TransUnion) that pulls the score. Below, you can check which credit score range you fall into, using estimates from Experian.

FICO Score

  • Very poor: 300 to 579
  • Fair: 580 to 669
  • Good: 670 to 739
  • Very good: 740 to 799
  • Excellent: 800 to 850

VantageScore

  • Very poor: 300 to 499
  • Poor: 500 to 600
  • Fair: 601 to 660
  • Good: 661 to 780
  • Excellent: 781 to 850

What factors influence your credit score

Credit scores are calculated differently depending on the credit scoring model. Here are the key factors FICO and VantageScore consider.

FICO Score

  1. Payment history (35% of your score): Whether you've paid past credit accounts on time
  2. Amounts owed (30%): The total amount of credit and loans you're using compared to your total credit limit, also known as your utilization rate
  3. Length of credit history (15%): The length of time you've had credit
  4. New credit (10%): How often you apply for and open new accounts
  5. Credit mix (10%): The variety of credit products you have, including credit cards, installment loans, finance company accounts, mortgage loans and so on

VantageScore

  1. Extremely influential: Payment history
  2. Highly influential: Type and duration of credit and percent of credit limit used
  3. Moderately influential: Total balances/debt
  4. Less influential: Available credit and recent credit behavior and inquiries

How an excellent credit score can help you

An excellent credit score can help you receive the best APRs from lenders and give you a higher chance of being approved for credit cards and loans.

Many of the best cards require good or excellent credit. If you want to benefit from competitive rewards, annual statement credits, luxury travel perks, 0% APR periods and more, you'll need at least a good credit score. And if you have an excellent credit score, you can maximize approval odds.

For instance, if you're looking to earn generous rewards on groceries and dining out, the American Express® Gold Card offers cardholders the chance to earn 4X Membership Rewards® points when you dine at restaurants and shop at U.S. supermarkets (on up to $25,000 per year in purchases, then 1X) — but you'll need good or excellent credit. Terms apply.

And if you want to finance new purchases or get out of debt with a balance transfer card, such as the Chase Freedom Unlimited®, you'll also need good or excellent credit.

Take note that even if your credit score falls within the excellent range, it's not a guarantee you'll be approved for a credit card requiring excellent credit. Card issuers look at more factors than just your credit score, including income and monthly housing payments.

Check out Select's best credit cards for excellent credit.

How to get an excellent credit score

If your credit score falls within the good, fair or bad ranges and you want to get an excellent credit score, follow these tips to help raise your credit score.

  • Make on-time payments. Payment history is the most important factor in your credit score, so it's key to always pay on time. Autopay is a great way to ensure on-time payments, or you can set up reminders in your calendar.
  • Pay in full. While you should always make at least your minimum payment, we recommend paying your bill in full every month to reduce your utilization rate. (Utilization rate, a calculation of how much of your total credit limit you're using, can be found with a simple equation: your total credit card balance divided by your total credit limit).
  • Don't open too many accounts at once. Each time you apply for credit, whether it's a credit card or loan, and regardless if you're denied or approved, an inquiry appears on your credit report. Inquiries temporarily reduce your credit score about five points, though they bounce back within a few months. Try to limit applications and shop around with prequalification tools that don't hurt your credit score.

How to get a free credit score

There are dozens of free credit score services available that offer you free FICO® Score or VantageScore. Here are some popular free credit score resources.

Read more

How does your salary and income impact your credit score?

Can employers see your credit score? How to prepare for what they actually see when they run a credit check

*Results may vary. Some may not see improved scores or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

What an excellent credit score is—and how to get one (2024)

FAQs

What an excellent credit score is—and how to get one? ›

A score of 800 or above on the same range is considered to be excellent. Most consumers have credit scores that fall between 600 and 750. In 2022, the average FICO® Score in the U.S. reached 714. Achieving a good credit score can help you qualify for a credit card or loan with a lower interest rate and better terms.

What is an excellent credit score and how do you get it? ›

Excellent (800 to 850): Lenders generally view these borrowers as less risky. As a result, individuals in this range may have an easier time being approved for new credit. Very good (740 to 799): Very good credit scores reflect frequent positive credit behaviors. Lenders are likely to approve borrowers in this range.

What can a 780 credit score do for you? ›

A 780 credit score is often considered very good — or even excellent. With excellent credit, your credit scores become more of a bridge and less of a roadblock — a high score can help you qualify for premium rewards credit cards, auto loans and mortgages with the best terms.

What is a credit score answers? ›

A credit score predicts how likely you are to pay back a loan on time. Companies use a mathematical formula—called a scoring model—to create your credit score from the information in your credit report.

How can I raise my credit score 100 points overnight? ›

10 Ways to Boost Your Credit Score
  1. Review Your Credit Report. ...
  2. Pay Your Bills on Time. ...
  3. Ask for Late Payment Forgiveness. ...
  4. Keep Credit Card Balances Low. ...
  5. Keep Old Credit Cards Active. ...
  6. Become an Authorized User. ...
  7. Consider a Credit Builder Loan. ...
  8. Take Out a Secured Credit Card.

How can I raise my credit score 100 points in 30 days? ›

For most people, increasing a credit score by 100 points in a month isn't going to happen. But if you pay your bills on time, eliminate your consumer debt, don't run large balances on your cards and maintain a mix of both consumer and secured borrowing, an increase in your credit could happen within months.

Can I buy a house with a credit score of 800? ›

Conventional loans: A credit score of 800 is well above the minimum needed to qualify for a conforming conventional loan, which is typically 620. In fact, with an 800, you ought to qualify for some of the best interest rates and terms available.

Is a 900 credit score possible? ›

Highlights: While older models of credit scores used to go as high as 900, you can no longer achieve a 900 credit score. The highest score you can receive today is 850. Anything above 800 is considered an excellent credit score.

Does anyone have a credit score of 850? ›

Only 1.31% of Americans with a FICO® Score have a perfect 850 credit score. While a score this high is rare among any demographic, older generations are more likely to have perfect credit. Baby boomers make up a whopping 59.4% of the people with an 850 credit score.

Can I buy a house with a 780 credit score? ›

Borrowers with a FICO credit score above 780 and a down payment of at least 40% will see the lowest possible financing charges, while those with a score below 640 could see the highest rates available.

What habit lowers your credit score? ›

Making late payments, even a single day late, can significantly affect your credit. This becomes especially true if you make a habit of paying late. Some lenders or credit card companies will charge you a fee for being a single day late and could cut you off from making further purchases on the account.

What credit score is needed to buy a house? ›

For a conventional mortgage in California, you typically need a minimum score of at least 600. If you qualify for certain government-backed loans, however, you may be able to buy a home with a score as low as 500. Read on to learn about credit scores and how they affect your ability to make a home purchase.

What credit score is needed to buy a car? ›

The credit score required and other eligibility factors for buying a car vary by lender and loan terms. Still, you typically need a good credit score of 661 or higher to qualify for an auto loan. About 69% of retail vehicle financing is for borrowers with credit scores of 661 or higher, according to Experian.

What boosts credit scores the most? ›

Paying your bills on time is the most important thing you can do to help raise your score. FICO and VantageScore, which are two of the main credit card scoring models, both view payment history as the most influential factor when determining a person's credit score.

How to increase credit score by 60 points in 30 days? ›

  1. Pay credit card balances strategically.
  2. Ask for higher credit limits.
  3. Become an authorized user.
  4. Pay bills on time.
  5. Dispute credit report errors.
  6. Deal with collections accounts.
  7. Use a secured credit card.
  8. Get credit for rent and utility payments.
Mar 26, 2024

How does someone get a 900 credit score? ›

Highlights: While older models of credit scores used to go as high as 900, you can no longer achieve a 900 credit score. The highest score you can receive today is 850. Anything above 800 is considered an excellent credit score.

How do you get an 800 credit score? ›

Making on-time payments to creditors, keeping your credit utilization low, having a long credit history, maintaining a good mix of credit types, and occasionally applying for new credit lines are the factors that can get you into the 800 credit score club.

How to get credit score from 750 to 800? ›

We just listed the five factors so let's go over each one and see how that gets you to 800.
  1. Pay on Time. You don't have to be a perfectionist to become a member of the 800 Club, but it does help. ...
  2. Limit Credit Use. ...
  3. Mix and Match Methods of Borrowing. ...
  4. Credit History Matters. ...
  5. Don't Apply for Credit …

How easy is it to get a 750 credit score? ›

But it also suggests that building credit takes time and patience, as you need to establish a track record of financial responsibility. In fact, reaching an excellent credit score of 750+ generally takes 5 or more years.

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