How to Get 800 Credit Score in 5 Simple Steps

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If you’re looking for information on how to get 800 credit score, this article addresses how to get the highest credit score possible and the benefits that come with it.

How to Get 800 Credit Score

Many factors determine your credit score. And while there’s no guarantee that you can reach a credit score of 800 or more, consider the following tips to improve your score.

Review Credit Reports Regularly

When working to build an 800 credit score, you should review your credit reports from all three major credit bureaus (Experian, TransUnion, and Equifax) regularly (at least once a year) to ensure there’s no false or damaging information on them. Errors on your reports can drag down your score. If you find a mistake, you should immediately report it to the credit bureau to have it removed.

Pay Bills on Time

The question of how to get a credit score over 800 includes the necessity of on-time payments. Your payment history is one of the most critical factors determining your credit score. While not paying your bills can impact your credit score, late payments can also damage your score. Creditors report your late payments to credit bureaus. So make sure to pay all of your bills on time each month.

Keep Credit Utilization Ratio Low

If you wish to build a credit score over 800, another crucial factor is your credit utilization ratio—the amount of debt you have relative to your credit limit. It’s best to keep your credit utilization ratio below 30%—the lower, the better. Some even advise that the ideal credit utilization ratio should be below 10%.

Pay Subscription Services on Time

Paying your subscriptions on time plays a significant role in establishing an 800+ credit score. If you want to be one of the young credit achievers and have an 800 credit score at 25, consider this tip to pave a successful path for your financing affairs.

Making sure that your subscriptions—gym membership, Netflix account, or other recurring payments—do not exceed their due date is just as important as paying other bills on time. If you keep forgetting to pay them punctually, set up an automatic payment where your money is directly withdrawn from your credit card account.

Use Credit Cards Responsibly

If you’re wondering how to get an 850 credit score—or at least 800—you must use your credit card responsibly. There are many ways you can use your credit card responsibly. Not only should you pay your bills on time, but you also need to use your credit card only for essential purchases. Having too many credit inquiries can instantly damage your score. Avoid using your credit card to pay medical bills or rent unless you have high credit limits or know you can pay them off each month.

Build and Rebuild Your Credit Score

How to increase your credit score to 800 also includes building your credit. About 15% of your credit history is responsible for your credit score. A simple negative comment or a minimal credit history can instantly change your credit score. Focusing on building your score should be your primary goal.

Many want to know how to get an 800 credit score in 45 days or less without considering their credit history. You must understand that no credit history impacts your credit score. The most effective way to build your credit score above average is by taking out a credit-builder loan. And if you don’t have a credit card, you should find ways to build your credit without using a credit card.

DID YOU KNOW? There are soft or hard credit checks, but not every credit check damages your credit score. Lenders use these checks to understand your creditworthiness when granting you a loan.

Benefits of an 800 Credit Score

Several benefits come with having an exceptional credit score. While those with Good credit scores enjoy more or less the same benefits, the benefits can be better if you have a credit score of 800 and above.

Lower Interest Rates

You can qualify for the lowest interest rate on loans and credit cards if you have excellent credit. Lower interest rates can save you thousands of dollars in interest in the long run, especially if you qualify for 0% financing on anything that requires a lot of money. And if you have a loan, the wisest decision would be to refinance it to get the lowest interest rate available.

Higher Credit Limits

Having higher credit limits is just one of the many perks of having an 800 credit score. Providers are more likely to give you a higher credit limit if you have excellent credit. This can be helpful if you ever need to make a large purchase or in an emergency. An Exceptional credit score also makes maintaining a low credit utilization ratio more manageable.

Better Chances of Approval

When you apply for loans, credit cards, or other financial products, you have a better chance of being approved if you have excellent credit. Applying for a loan or credit card and having a high probability of quick approval is one of the many things you can do with an 800 credit score.

Improved Insurance Rates

Many insurance providers use credit scores to determine your premium. So if you have excellent credit, you may be able to get a lower insurance rate.

As noted, there are many perks of having an 800 credit score. According to FICO, even a 750 score is considered Very Good and comes with more benefits than lower scores. But those with a 760 credit score and above are classified as Exceptional (excellent) and enjoy the best interest rates and offers.

DID YOU KNOW?  Only 22% of Americans (one in six) have an 800 fico score or higher.

Key Takeaways

Paying your bills and subscriptions on time will give you a better chance of getting a credit score of 800 or higher.
Using your card responsibly and paying only for necessities is crucial in maintaining an excellent credit score.
You enjoy lower interest rates with a credit score of 800.
Higher credit limits and improved insurance rates are benefits of having a credit score of 800.

Conclusion

Is 800 a good credit score? Yes. There are many benefits to having excellent credit. And once you reach your credit score goal, you’ll be able to enjoy all of those benefits. If you’re looking to improve your credit score to a near-perfect one, the tips in our guide will help you get on the right track.

FAQ

Is a 800 credit score hard to get?

A credit score of 800 is not hard to obtain, but it does take some time and effort to reach this level. You need to pay your bills on time, keep your credit utilization ratio low, and use your credit cards responsibly.

How long does it take to hit 800 credit score?

It depends on your personal credit history and situation and varies from person to person. Some may be able to reach a credit score of 800 within a few months, while it may take a year or more for others.

How rare is an 800 credit score?

While it’s not as rare as it used to be, a credit score of 800 is still considered an achievement. According to Experian, 21% of all consumers have scores in the Exceptional range (800+).

How can I get my credit score to 800 fast?

There’s no definitive answer on how to get 800 credit score quickly. If you use your credit card responsibly, pay your bills and subscriptions on time, and review your credit score regularly, you could elevate your credit score to an Exceptional level.

ABOUT AUTHOR

I learned a lot about finance after working for a digital marketing company specializing in investing and trading stocks, forex, etc. After that, I got exposed to other verticals such as wealth management and personal finance, which further improved my understanding of the financial world.

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