800 Credit Score Is it good or bad?

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800 Credit Score Is it good or bad?

An 800 score is considered excellent. You’ll qualify for the best rates on credit cards as well as loans.

By Amrita Jayakumar Writer The Washington Post Amrita Jayakumar is a former special assignments reporter for NerdWallet. She also wrote a syndicated column on millennials and money, and wrote about personal loans as well as consumer credit and debt. Prior to that, she was an editor at The Washington Post. Her work was published within The Miami Herald and USAToday. Amrita has a master’s degree in journalistic studies from University of Missouri. University ofMissouri.

Feb 1 2023

Edited by Kathy Hinson Lead Assigning Editor Personal finances, credit scoring debt and money management Kathy Hinson leads the core personal finance team at NerdWallet. Previously, she spent 18 years working at The Oregonian in Portland in capacities such as chief of the copy desk and team director of design and editing. Prior experience includes news and copy editing for many Southern California newspapers, including the Los Angeles Times. She earned a bachelor’s degree in mass communication and journalism at the University of Iowa.

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A credit score of 800 is definitely in the top score range. Lenders use your credit score to decide if you qualify for financial products like credit cards and loans and to set the interest rate.

Only 23.3% of Americans had a score of 800 and above in 2021, according the FICO, a credit scoring firm. FICO.

Here’s how your 800 credit score could impact your financial situation.

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You can find the top rates on credit cards as well as loans

With an 800 credit score it is safe to rest as you’ll typically be eligible for the majority of financial products and receive the highest rates.

That may not be the case if you are just beginning to get credit, however, because lenders look for more than just a good score. The amount of time you’ve been a creditor and the amount of debt you have in relation to your earnings is taken into consideration.

Find out more information about , to be aware of what’s important most to keep your access to the best credit products.

Be aware of how your credit score is assessed

Find your free score and the variables that affect it, and get suggestions on how to continue building.

Tips to protect your credit score of 800

You’ve already mastered your credit behavior, but the following tips will help you preserve your credit score. These tips will be beneficial If you’re interested in the challenge of getting the highest score for non-specialty credit scores.

Create automatic payments. A single late payment could shave as much as 100 points from your score. If you do not have automatic payments, consider creating them to reduce the chance of missing the payment, which could damage your score.

Watch . It’s better for your score to use less of your credit limits. You can make multiple payments during a single billing cycle to keep utilization consistently low.

Check for any mistakes on your credit reports to find any mistakes. Credit reports that are inaccurate are not uncommon and could prevent your score from going higher. and dispute any errors you find.

About the writer: Amrita Jayakumar is a former writer for NerdWallet. She was previously employed by The Washington Post and the Miami Herald.

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