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800 Credit Score What is good or bad?
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800 Credit Score Is it good or bad?
A score of 800 is thought to be an excellent score. You will qualify for the best rate on credit card as well as loans.
The article was written by Amrita Jayakumar Writer The Washington Post Amrita Jayakumar is a former special assignments journalist for NerdWallet. She also published a syndicated article on millennials and money, and focused on personal loans as well as consumer credit and debt. In the past, she worked as an editor at The Washington Post. Her work has been featured on The Miami Herald and USAToday. Amrita has a master’s degree in journalism from the University ofMissouri.
January 1st Feb 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 roles including copy desk chief and team leader for design and editing. Previous experience included news and copy editing at various 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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An 800 credit score is definitely in the top range of scores. Credit score is used by lenders to determine whether you are eligible for financial services such as credit cards or loans and to set the interest rate.
The figure was 23.3% of Americans scored 800 or higher in 2021, according the credit scoring company FICO.
This is how your credit score can influence your financial future.
You can find the top rate on your credit card and loans
With an 800 credit score it is safe to rest and you’ll be eligible for the majority of financial services and enjoy the highest rates.
It’s not the case if you are relatively new to credit, however, since the lenders want more than a high score. The amount of time you’ve had credit and how much debt you carry in relation to your earnings is considered.
Find out more information about , so you know what matters most when it comes to maintaining access to the best credit products.
Be aware of how your credit score is assessed
Find your free score and the factors that influence it, and get suggestions on how to continue building.
Ways to safeguard your credit score of 800
You’ve already mastered your credit practices, but these tips will help you preserve your credit score. These tips will be beneficial If you’re interested in the challenge of , and the highest score for non-specialty credit scores.
Set up automatic payments. A single late payment could shave as much as 100 points from your score. If you don’t have automatic payments, you should consider setting them up to avoid the possibility of not making the payment, which could damage your score.
Watch . It’s better for your score to use less of your credit limit. You can make multiple payments in a single cycle of billing to make sure that utilization is kept to a minimum.
Look out for errors on your credit reports. Mistakes on credit reports are not uncommon and could prevent your score from going higher. and dispute any errors you discover.
About the author: Amrita Jayakumar is a former writer at NerdWallet. She previously worked at The Washington Post and the Miami Herald.
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