How do I get an 850 credit score?

Home Forums Credit Reports & Scores How do I get an 850 credit score?

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    Team StellarFi

    The highest FICO® or VantageScore® is 850 from a range of 300-850. The people with the highest credit score are usually considered the lowest-risk borrowers by most lenders. They are eligible to get loans for the best interest rates and can also get high credit limits on their cards.

    According to FICO statistics, only about 1.6% of the population has a perfect score of 850.
    Getting the perfect score is a long-term goal that you can achieve mainly by following some of these tips:

    a) Paying all your bills on time, every time: A missed credit card payment of more than 30 days gets reported negatively and can stay on your report for up to seven years.
    b) Avoid applying for multiple credit cards in a short time because hard inquiries lower your credit scores.
    c) Use your available credit only when it is necessary. Credit utilization makes up 30% of your score, so a high credit utilization negatively impacts your score.
    d) Have a good credit mix and long credit history: Both these put together account for 25% of your score. If you can demonstrate that you can manage to pay off multiple kinds of loans (credit cards, auto loans, mortgage) and have a long history of managing credit (keeping credit accounts active for as long as possible), your scores are positively impacted.

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StellarFinance, Inc. and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

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