How Many Americans Have an 800 Credit Score? - Experian (2024)

In this article:

  • 22% of U.S. Consumers Have Exceptional Credit
  • Most With FICO Scores of 800 or Higher Are Baby Boomers and Older
  • Exceptional Credit Consumers vs. Overall Average
  • Exceptional Credit More Common in Northern States

"Exceptional." Depending on one's frame of mind, the word may conjure up anything from a mint condition rookie card to possibly being asked, again, to stay after class. But in the world of credit, exceptional refers to nearly a quarter of consumers with FICO® Scores of 800 or higher. Hardly an exclusive club, but a nice place to be nonetheless.

As part of our review of consumer credit and debt among U.S. consumers, Experian looked at trends of those who had exceptional credit scores in 2023. To get to the bottom of what, exactly, exceptional credit looks like in practice, we'll highlight some of the many characteristics of the consumers behind those scores.

22% of U.S. Consumers Have Exceptional Credit

To set the stage: Most Americans have at least good credit, which is defined as a FICO® Score of 670 to 739. These consumers are likely to be approved for many types of credit, but the interest they'll pay on their debt will still vary greatly.

But according to Experian data captured as 2023 came to a close, nearly 22% of consumers have a FICO® Score in the highest credit score range—800 to 850. Consumers with scores in this range are considered to have exceptional credit.

Percentage of Consumers by FICO® Score 8 Range
Range Percentage of Consumers
Poor (300-579) 12.6%
Fair (580-669) 15.8%
Good (670-739) 21.6%
Very good (740-799) 28.1%
Exceptional (800-850) 21.9%

Source: Experian data as of Q3 2023

Before we get into what sets these consumers apart, however, let's go over the factors that flow into a FICO® Score calculation. FICO® Scores are calculated based on the information in the credit reports maintained by the three credit bureaus—Experian, TransUnion and Equifax. The factors that impact FICO® Scores (and how their impact is weighted) are as follows:

  • Payment history (35%): This is the most important FICO® Score factor. On-time debt payments go the furthest to help credit scores, while just one missed payment can have a severe negative impact on scores.
  • Amounts owed (30%): This factor considers how much installment and revolving credit is being used, including credit utilization on credit cards.
  • Length of credit history (15%): The age of the oldest account, the newest account and the average age of all accounts in a consumer's credit file are considered, with more credit experience generally having a positive impact on scores.
  • Credit mix (10%): Credit mix measures the variety of debt products—credit cards, personal loans and mortgages, for example—a consumer has in their name. A history of responsibly managing different debt types can help scores.
  • New credit (10%): Taking on new debts can increase risk to lenders, so events like opening a new account or applying for credit can ding scores.

While factors such as income and employment status can play a role in credit approval, they don't have a direct effect on credit scores.

Most With FICO® Scores of 800 or Higher Are Baby Boomers and Older

Nearly half—45%—of consumers with exceptional credit are baby boomers, even though baby boomers represent only about one-fifth of consumers. The likelihood of older generations having exceptional credit shouldn't be a surprise: Length of credit history is an important factor in calculating a FICO® Score.

Exceptional Credit by Generation

Exceptional Credit Consumers vs. Overall Average

There were some distinct differences that stood out when comparing overall consumer averages against average stats for consumers with exceptional credit scores. Of particular note among the two measures of consumers was the number of delinquencies (late payments). While a typical consumer has one or two delinquencies on their credit report, those with a FICO® Score of 800 or greater have virtually zero delinquencies among them.

Characteristics of Consumers With Exceptional FICO® Scores
Average … Average for All Consumers Average for Consumers With Exceptional (800-850) FICO® Scores
Number of credit cards 3.9 4.8
Credit card balance $6,501 $3,873
Number of retail credit cards 2.7 3.5
Retail credit card balance $1,188 $402
Auto loan balance $23,792 $21,799
Mortgage balance $244,498 $256,946
Non-mortgage balance $23,964 $17,484
Credit utilization ratio 29% 7%
Total tradelines ever delinquent 1.5 0.01

Source: Experian data as of Q3 2023

Otherwise, the characteristics of a consumer with exceptional credit mimics that of more seasoned consumers: They have more lines of revolving credit on average, but much lower average revolving balances. A virtuous consequence of low credit card balances is often a lower credit utilization ratio, which is a key credit score factor. Those with an exceptional credit score have average utilization ratios under 10%, versus 29% for the average consumer. Lower utilization ratios—those in the single digits—can have a positive effect on FICO® Scores.

Borrowers with exceptional credit scores also carry a slightly larger average mortgage balance than the average consumer, as well as a slightly lower balance on any auto loans in their names.

Exceptional Credit More Common in Northern States

Above-average may be selling Minnesotans short—nearly one-third of state residents have an exceptional credit score. The Gopher State, alongside their Badger State neighbors in Wisconsin, lead the nation with the highest percentage of consumers with an 800 or better FICO® Score. State mascots aside, there is a decidedly Northern tilt to where consumers with exceptional credit scores reside.

Percent of Consumers With Exceptional Credit by State

Rounding out the five states with the highest percentages of exceptional credit scores are New Hampshire, North Dakota and Vermont.

What Exceptional Credit Can Earn Consumers

According to FICO, exceptional scores indicate that "your score is well above the average score of U.S. consumers and clearly demonstrates to lenders that you are an exceptional borrower." In practice, consumers with exceptional credit are more likely to receive approval for most types of credit—often with accompanying lower interest rates—than other consumers.

Nonetheless, even consumers with exceptional credit won't necessarily receive approval for big-ticket items, like a new home, if other lender criteria aren't met. With mortgage APRs hovering close to 7% in 2024, lenders want to be certain that a borrower's income is sufficient to cover monthly homeowner expenses, even if they do have exceptional credit.

How Many Americans Have an 800 Credit Score? - Experian (2024)

FAQs

How Many Americans Have an 800 Credit Score? - Experian? ›

Twenty-three percent of Americans have a credit score between 800 and 850, considered "exceptional" by FICO. A credit score at the top of that range -- 850 -- is considered a perfect score. Twenty-four percent have a FICO® Score between 750 and 799, making the "very good" bracket.

What percent of Americans have an 800 credit score? ›

Twenty-three percent of Americans have a credit score between 800 and 850, considered "exceptional" by FICO. A credit score at the top of that range -- 850 -- is considered a perfect score. Twenty-four percent have a FICO® Score between 750 and 799, making the "very good" bracket.

Is an Experian credit score of 800 good? ›

Your 800 FICO® Score falls in the range of scores, from 800 to 850, that is categorized as Exceptional. Your FICO® Score is well above the average credit score, and you are likely to receive easy approvals when applying for new credit.

How many people have an 850 Experian score? ›

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.

How rare is an 825 credit score? ›

Membership in the 800+ credit score club is quite exclusive, with fewer than 1 in 6 people boasting a score that high, according to WalletHub data.

How rare is an 800 credit score? ›

According to a report by FICO, only 23% of the scorable population has a credit score of 800 or above.

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.

What is the average Experian score? ›

We provide a score from between 0-999 and consider a 'good' score to be anywhere between 881 and 960, with 'fair' or average between 721 and 880. Before you apply for credit, it's a really good idea to check your free Experian Credit Score, so you can make more informed choices when it comes to applying for credit.

How accurate is Experian credit score? ›

Is Experian the Most Accurate Credit Score? Credit scores from the three main bureaus (Experian, Equifax, and TransUnion) are considered accurate. The accuracy of the scores depends on the accuracy of the information provided to them by lenders and creditors.

Is there a big difference between 750 and 800 credit score? ›

This is because only 1% of these individuals will become delinquent on their loans in the future. While credit scores of 800 or above are labeled “exceptional,” a score of 750 will likely get you some of the best rates available for auto loans and mortgages.

How rare is an 830 credit score? ›

Your score falls in the range of scores, from 800 to 850, that is considered Exceptional. Your FICO® Score and is well above the average credit score. Consumers with scores in this range may expect easy approvals when applying for new credit. 21% of all consumers have FICO® Scores in the Exceptional range.

What is the average credit score by age? ›

Average VantageScore 3.0 score by age
Age groupAverage VantageScore 3.0 score
Gen Z (1997+)669
Millennial (1981-1996)677
Gen X (1965-1980)696
Baby boomer (1946-1964)738
1 more row
Mar 7, 2024

Why is my Experian score so much higher than FICO? ›

When the scores are significantly different across bureaus, it is likely the underlying data in the credit bureaus is different and thus driving that observed score difference.

How rare is an 820 credit score? ›

Membership in the 800+ credit score club is quite exclusive, with fewer than 1 in 6 people boasting a score that high, according to WalletHub data.

How rare is an 840 credit score? ›

Your 840 FICO® Score falls in the range of scores, from 800 to 850, that is categorized as Exceptional. Your FICO® Score is well above the average credit score, and you are likely to receive easy approvals when applying for new credit. 21% of all consumers have FICO® Scores in the Exceptional range.

How rare is a 900 credit score? ›

It's exceedingly rare for anyone to have a credit score over 900, as most credit scoring models have a maximum limit of 850, and even achieving that score is uncommon.

How hard is it to get an 800 credit score? ›

Only a little over 20% of consumers ever earn a score of 800 or higher. Why? People with 800 credit scores use credit differently than the vast majority of credit users. Sure, they do some of the same things you do: never miss a payment, try to keep their credit utilization low, and scan their credit report for errors.

How rare is an 850 credit score? ›

While achieving a perfect 850 credit score is rare, it's not impossible. About 1.3% of consumers have one, according to Experian's latest data. FICO scores can range anywhere from 300 to 850. The average score was 714, as of 2021.

How many Americans have a credit score of 800 or higher? ›

What is the highest credit score? For most situations, 850 is the best FICO score possible. It's extremely difficult to reach a perfect credit score, though. Only 20% of Americans have a credit score of 800 or higher.

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