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.

How can I raise my credit score 200 points in 30 days? ›

How to Raise Your Credit Score by 200 Points
  1. Get More Credit Accounts.
  2. Pay Down High Credit Card Balances.
  3. Always Make On-Time Payments.
  4. Keep the Accounts that You Already Have.
  5. Dispute Incorrect Items on Your Credit Report.

What is a credit score answers? ›

A credit score is a three-digit number, typically between 300 and 850, designed to represent your credit risk, or the likelihood you will pay your bills on time.

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.

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.

How many people have a credit score of 786? ›

A 786 FICO® Score is above the average credit score. Borrowers with scores in the Very Good range typically qualify for lenders' better interest rates and product offers. 25% of all consumers have FICO® Scores in the Very Good range.

How fast does credit score go up after paying off a credit card? ›

How long after paying off debt will my credit scores change? The three nationwide CRAs generally receive new information from your creditors and lenders every 30 to 45 days. If you've recently paid off a debt, it may take more than a month to see any changes in your credit scores.

How do I raise my credit score 40 points fast? ›

Here are six ways to quickly raise your credit score by 40 points:
  1. Check for errors on your credit report. ...
  2. Remove a late payment. ...
  3. Reduce your credit card debt. ...
  4. Become an authorized user on someone else's account. ...
  5. Pay twice a month. ...
  6. Build credit with a credit card.
Feb 26, 2024

Should I pay off my credit card in full or leave a small balance? ›

It's a good idea to pay off your credit card balance in full whenever you're able. Carrying a monthly credit card balance can cost you in interest and increase your credit utilization rate, which is one factor used to calculate your credit scores.

What habit lowers your credit score? ›

Actions that can lower your credit score include late or missed payments, high credit utilization, too many applications for credit and more. Experian, TransUnion and Equifax now offer all U.S. consumers free weekly credit reports through AnnualCreditReport.com.

What credit score is needed to buy a house? ›

The minimum credit score needed for most mortgages is typically around 620. However, government-backed mortgages like Federal Housing Administration (FHA) loans typically have lower credit requirements than conventional fixed-rate loans and adjustable-rate mortgages (ARMs).

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.

How does someone get a 900 credit score? ›

It is not possible to get a score of 900. Older models of the FICO® and VantageScore® went up to 900, and there are other specialized scores that have different ranges going up to 900. The FICO Auto and Bankcard Score 9, for instance, ranges between 250 and 900.

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 hard is it to get an excellent credit score? ›

Getting a perfect score is extremely difficult, so many credit overachievers strive for a score in the high 700s or 800+. That puts you squarely in the highest range for most credit scoring models (VantageScore considers a score of 780-850 to be “Grade A,” while FICO deems scores above 800 to be “excellent”).

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 …

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