How many people have 800 credit score

A credit score of 800 or higher is all but guaranteed to help you get approved for any form of credit you seek. That’s largely because the financial behaviors that helped you reach such a score demonstrate to lenders that you’re a low-risk borrower and can responsibly take on and pay off debts. Being a low-risk borrower comes with benefits such as:

More opportunities to access credit. With a credit score of 800 or higher, there’s a good chance you’d be approved for any loan or mortgage you might seek – as long as you meet any additional lender requirements, like debt-to-income ratio limits. A top-tier credit score can also help you qualify for credit cards with more exclusive perks, such as rewards programs with high points–earning potential, airport lounge access, travel credits, and more.

More favorable loan terms. Generally speaking, the higher your credit score, the less interest you’ll have to pay – which can translate to thousands of dollars in savings over time. On a 60-month auto loan with a $20,000 principal, for example, someone with an 800 credit score might expect an APR of 3.9%, as of April 2022. Meanwhile, someone with a 650 credit score might expect a 10.3% APR on the same principal – and pay an additional $3,645 in interest over the life of the loan.5

However, credit score is just one of the financial criteria lenders might assess before deciding whether to extend credit to you. Your credit report, income statements, debt-to-income ratio, and recent credit inquiries, for example, may also be considered. Thus, a high credit score isn’t guaranteed to yield an automatic approval.

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Written by

Nicole Dieker

Written by Nicole DiekerArrow RightPersonal Finance Contributor

Nicole Dieker has been a full-time freelance writer since 2012—and a personal finance enthusiast since 2004, when she graduated from college and, looking for financial guidance, found a battered copy of Your Money or Your Life at the public library. In addition to writing for Bankrate, her work has appeared on CreditCards.com, Vox, Lifehacker, Popular Science, The Penny Hoarder, The Simple Dollar and NBC News. Dieker spent five years as writer and editor for The Billfold, a personal finance blog where people had honest conversations about money. Dieker also teaches writing, freelancing and publishing classes and works one-on-one with authors as a developmental editor and copyeditor.

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Nicole Dieker

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Liliana Hall

Edited by Liliana HallArrow RightAssociate Editor

Liliana is an editor and journalist with a background in feature writing on the Bankrate Credit Cards team.

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Liliana Hall

Reviewed by

Cathleen McCarthy

Reviewed by Cathleen McCarthyArrow RightSenior Editor

Cathleen's stories on design, travel and business have appeared in dozens of publications including the Washington Post, Town & Country, Wall Street Journal, Marie Claire, Fodor’s Travel, Departures and The Writer.

It’s possible to achieve an 850 FICO® Score. However, it’s very difficult to get your score this high. An 850 credit score means that you have nearly perfect credit management. Very few people actually hold a perfect 850 credit score. Consumers with this score are incredibly unlikely to default on their loan obligations. If you can achieve an 850 credit score, you’ll have access to nearly any type of loan or card.

No lender will expect you to have an 850 credit score, no matter what you’re applying for. It’s possible to buy a home, go back to school and get a personal loan even if you have less-than-ideal credit. However, if you’re still determined to make it into the perfect credit club, you can use these tips to start your journey toward an 850-point score.

Watch Your Credit Utilization

The term “credit utilization” refers to the percentage of your total available credit that you use every month. For example, if you have a credit card with a $1,000 limit and you put $100 on your card, you have a utilization rate of 10%. Your credit utilization contributes to about 30% of your credit score.

When you have a low credit utilization rate, your credit score goes up. This is because lenders assume that you don’t overly rely on credit. To reach an 850 credit score, try to keep your credit utilization at or lower than 10%. If that’s not possible, shoot for less than 30% utilization.

Make Your Payments On Time

Missed payments definitely aren’t a huge problem for you if you have an 800 credit score. However, the best way to continue working toward that perfect 850 score is to stay on top of all your payments. A single missed or late payment can seriously throw off your score.

If you add a new credit card or loan to your account, make sure that you write down your payment due date. You can also enable autopay, which deducts your minimum payment from your bank account on the day it’s due.

Don’t Cancel Old Cards

Some credit card holders think that they should cancel their old credit cards to get that last push toward a perfect score. After all, more cards mean more opportunities to overspend – right?

The truth is that closing old lines of credit (even ones you don’t use) can harm your credit score. When you close a credit line, you give yourself access to less credit and automatically raise your utilization. For example, imagine that you have a couple of credit cards and they each have a $1,000 limit. You put $300 on one card each month – your total utilization is 15% ($300/$2,000 total). You don’t use one of the cards at all, so you decide to close it. Even if you still spend $300 a month, your utilization is now 30% because you only have $1,000 of available credit.

Is a certain card tempting you to overspend? Keep it in a locked safe or desk drawer instead of closing it to maintain your score.

Be Patient

Reaching a perfect credit score isn’t something that happens overnight. Consistently work to build your credits and maintain great spending habits and you’ll see your scores rise. It might take years to achieve, but it isn’t impossible to have an 850 credit score.

How hard is it to get 800 credit?

How many people in the US have a credit score of 850?