What’s The Highest Credit Score You Can Actually Get?
Building your credit? Or thinking of hiring a credit repair service? Why not aim for the highest credit score possible?
You can have a perfect credit score, but it will not last. The highest you could achieve is 850 on the 300 to 850 scale for both FICO 8 and Vantage 3.0 – although most Americans in 2020 had a 711 according to Experian’s research findings of that year. To get there takes consistent habits and time as your scores fluctuate with new data being added to your reports; so achieving this accomplishment may just be temporary if you do manage it at all!
Is it possible to have a 900 credit score?
Technically, the answer is yes but you would have to be very specific about which industry. FICO Auto Scores range from 250-900 and the Bankcard Score ranges between 300-850. There are many different versions of scoring models though so if your desired industry isn’t one listed above then we can take this into consideration for our appraisal process.
750 is an excellent credit score
Does having a 750-800 range mean you have “good” credit?
Well that depends on who you ask. What most people consider to be excellent, 850+, only 1% of the population can boast. That means 99% of Americans are below it! Experian statistics show us that 711 in 2020 was average, so if your number falls within this category then congratulations–you’re doing great for yourself and more than likely will never need any form of financial assistance or debt help from lenders. Now all we gotta do now is wait until 2025 when these stats should rise higher with everyone growing into adulthood.
Do I need a perfect credit score?
Achieving a good credit score can be likened to reaching the top of Mount Everest. You’ve finally reached that coveted peak, and you are surrounded by nothing but snow-capped peaks in every direction.
Imagine if someone told me they wanted to climb just one mountain when there’s so many waiting for them over here!
Make a noble pursuit of 850? Think again. There’s little difference between an 800 and 850 when it comes to getting the best rate from lenders, so why not go for gold with that 760+ score instead? You don’t need thousands in savings or increased rewards points to feel like you’re doing something good: just get those credit card balances down!
If you want to get the best, most competitive rates on credit cards and loans — in other words if you’re looking for a perfect score of 800-850—you need to follow these three steps:
1) Stay current with your bills. Owing more than $10k will lower your credit rating below 700 which is considered “unacceptable.” 2) Pay back any major debts before applying for new ones as this can make up 50% of one’s total score 3) Keep balances low; don’t use over 30 percent or around 10 grand worth of their available limit because that calculates into roughly 20% of someone’s overall FICO Score.
Want professional help gaining your highest credit score possible?
Contact Masters Credit Consultants today! We’ll get you started and help you achieve your credit goals.