Is a Credit Score of 1000 Possible? (2024)

FAQs

Is a Credit Score of 1000 Possible? ›

A credit score of 1,000 is not possible because the standard credit score range used by FICO and VantageScore is 300 to 850. Other credit scoring models have a high of 900 or 950, but they are industry-specific and only used by certain financial institutions.

A credit score of 1,000 is not possible because credit scoring models simply do not go that high. According to Experian, some credit scoring models reach upwards of 900 or 950, but those are industry-specific scores that are only used by certain institutions.

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.

FICO & Vantage both set the lowest possible credit score at 300. However, almost nobody has this low of a score. In fact, according to FICO, the average credit score in America is 704. A bad FICO credit score ranges from 300-579, while a bad Vantage score ranges 300-499.

And when people talk about achieving the “highest” credit score possible, they're usually talking about the ever-elusive 850 FICO® Score. Earning a perfect 850 FICO Score isn't common, but it's certainly possible.

A credit score of 999 from Experian is the highest you can get. It usually means you don't have many marks on your credit file and are very likely to be accepted for a loan or credit card.

If you have a FICO credit score over 800, your credit is considered exceptional — and, 24.1 percent of the scorable population had credit scores in the 800 to 850 range in April 2023, according to FICO. So, while getting an 850 credit score is difficult, a score above 800 seems like a more achievable goal.

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.

What's a good credit score for a 20-year-old? Consider yourself in “good” shape if your credit score is above the average for people in your age group. Given that the average credit score for people aged 18 to 25 is 679, a score between 679 and 687 (the average for people aged 26 to 41) could be considered “good”.

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 bad is a zero credit score? ›

Lenders evaluate people based on how they've used credit in the past. An empty credit report with no evidence of a borrowing history signals to lenders that you're inexperienced. That makes lenders nervous and increases the chances they will deny you for credit like a car loan, credit card or mortgage.

The average FICO credit score in the US is 717, according to the latest FICO data. The average VantageScore is 701 as of January 2024. Credit scores, which are like a grade for your borrowing history, fall in the range of 300 to 850.

Average Credit Score by Age Bracket

Different age groups have varying averages, with consumers aged 18–25 having the lowest average 679 FICO score and 661 VantageScore. Those aged 77 and older have a significantly higher average score as they've built it over many years, with their average FICO score standing at 760.

Making a late payment

Your payment history on loan and credit accounts can play a prominent role in calculating credit scores; depending on the scoring model used, even one late payment on a credit card account or loan can result in a decrease.

It's recommended you have a credit score of 620 or higher when you apply for a conventional loan. If your score is below 620, lenders either won't be able to approve your loan or may be required to offer you a higher interest rate, which can result in higher monthly mortgage payments.

Is a 950 credit score possible? In most conventional credit scoring systems, such as FICO and VantageScore, a credit score of 950 is not possible, as they typically have a maximum score of 850. However, some custom or industry-specific scoring models might use a different scale, but they are not as widely used.

CBS assigns individuals a four-digit credit score which indicates how likely they are to default. Scores range between 1000 and 2000; the higher the score, the lower your odds of defaulting. Each score is assigned a two-letter band ranging from AA to HH.

How rare is an 800 credit score? An 800 credit score is not as rare as most people think, considering that roughly 23% of adults have a credit score in the 800-850 range, according to data from FICO. A score in this range allows consumers to access the best credit card offers and loans with the most favorable terms.

Your 843 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.