Who has 850 credit score?
In the U.S., only about 1.7 percent of the scorable population had a perfect 850 FICO credit score in April 2023, according to FICO data. This suggests that for most people, a perfect score is simply too hard to reach — but it also suggests that it's not really necessary, either.
Less than 2% of Americans have a perfect credit score.
A perfect FICO credit score is 850, but experts tell CNBC Select you don't need to hit that target to qualify for the best credit cards, loans or interest rates.
Pavelka, 56, has a credit score of 848 out of 850. The letter he got from the credit bureau recently said his score "ranks higher than 100 percent of U.S. consumers." That makes Pavelka a financial anomaly. While an 848 isn't a perfect score, it's as high as most experts have ever seen.
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.
Membership in the 800+ credit score club is quite exclusive, with fewer than 1 in 6 people boasting a score that high, according to WalletHub data.
Membership in the 800+ credit score club is quite exclusive, with fewer than 1 in 6 people boasting a score that high, according to WalletHub data.
Your score falls in the range of scores, from 800 to 850, that is considered Exceptional. Your FICO® Score and is well above the average credit score. Consumers with scores in this range may expect easy approvals when applying for new credit. 21% of all consumers have FICO® Scores in the Exceptional range.
First off, it's important to understand that credit scores of zero do not exist.
How many Americans have an 850 credit score? 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.
Your 848 FICO® Score falls in the range of scores, from 800 to 850, that is categorized as Exceptional. Your FICO® Score is well above the average credit score, and you are likely to receive easy approvals when applying for new credit. 21% of all consumers have FICO® Scores in the Exceptional range.
What is a good credit score to buy a house?
It's recommended you have a credit score of 620 or higher when you apply for a conventional loan. If your score is below 620, lenders either won't be able to approve your loan or may be required to offer you a higher interest rate, which can result in higher monthly mortgage payments.
What is the lowest credit score possible? Generally, credit scores range from 300 to 850, making 300 the lowest possible credit score. But it's important to note that you typically have more than one credit score. And they may differ depending on the credit-scoring company and when they were calculated.
All of a sudden, all the income you've been throwing toward your debts each month becomes yours. With no more debts to pay off, you get to experience what your paycheck actually feels like without the burden of debt payments every month. As a result, you'll have a lot more money to save, spend, or invest going forward.
An 830 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.
Your 840 FICO® Score falls in the range of scores, from 800 to 850, that is categorized as Exceptional. Your FICO® Score is well above the average credit score, and you are likely to receive easy approvals when applying for new credit. 21% of all consumers have FICO® Scores in the Exceptional range.
- Pay all your bills on time. One of the easiest ways to boost your credit is to simply never miss a payment. ...
- Avoid excessive credit inquiries. ...
- Minimize how much debt you carry. ...
- Have a long credit history. ...
- Have a good mix of credit.
A bad credit score is a FICO score below 580, meaning it falls in the poor credit range. Along the same lines, a bad score in the VantageScore model is one below 601, which would belong in the poor or very poor credit ranges.
In the U.S., the average credit score is 716, per Experian's latest data from the second quarter of 2023. And when you break down the average credit score by age, the typical American is hovering near or above that score.
| Average FICO 8 Score by Generation | ||
|---|---|---|
| Generation | 2022 | 2023 |
| Generation Z (ages 18-26) | 679 - Good | 680 - Good |
| Millennials (27-42) | 687 - Good | 690 - Good |
| Generation X (43-58) | 707 - Good | 709 - Good |
Your 825 FICO® Score is nearly perfect and will be seen as a sign of near-flawless credit management. Your likelihood of defaulting on your bills will be considered extremely low, and you can expect lenders to offer you their best deals, including the lowest-available interest rates.
What can I do with an 830 credit score?
A credit score of 830 will generally qualify you for a lender's best interest rates. As a real-world example, the average 30-year fixed mortgage interest rate was just over 7% as of late October 2022. However, the average rate paid by a homebuyer whose FICO credit score was 760 or higher was 6.583%.
A score of 850 can only be achieved with 10+ years of credit, excellent on-time payment history, low credit utilization, and no recent hard inquiries, which is a tall ask.
A credit score of 999 from Experian is the highest you can get. It usually means you don't have many marks on your credit file and are very likely to be accepted for a loan or credit card.
"Paying rent can build credit if your payments are reported," says Rod Griffin, senior director of consumer education and advocacy for the credit bureau Experian. "Unfortunately, that's not the norm, as most landlord and rent management companies don't report rent payments."
Heavy credit card use, a missed payment or a flurry of credit applications could account for a credit score drop. Amanda Barroso is a personal finance writer who joined NerdWallet in 2021, covering credit scoring.
