The 800 credit score is like the holy grail of credit ratings—only 23% of Americans can boast having FICO® Scores of 800 or above.
If you’re part of this elite club, congratulations. You’ve proven to lenders that you’re a pro when it comes to managing credit.
But if your less-than-perfect credit score is the first place your mind goes to when you hear Paul Carrack sing “How long has this been going on”—don’t sweat it.
This guide will break down what having an 800 credit score means and how you can reach this top-tier credit status.
And you never liked that song anyway—
This article will show you:
- How long it’ll take you to get an 800 credit score.
- How you can benefit from an exceptional credit score.
- Key tips to increase your credit score to 800.
Read more:
How Long Does It Take to Build an 800 Credit Score?
It can take you anywhere from just a few months to years to get an 800 credit score.
Your initial credit score plays a key role in determining the time you’ll take to build credit.
For instance, you can build a good credit score in just a few months if you’re starting from scratch.
But it’ll take you much longer to build credit if you already have a bad credit score.
So before building your credit, you need to know where you stand. Use Credit Karma, Credit Sesame, or MyFico to get an accurate idea of what your score looks like right now.
And how long does it take to get to an 800 credit score?
Here’s a table with approximate timelines:
|
Initial credit score |
Average time to reach 800 credit score |
Average time to reach 850 credit score |
|
0 |
1–1.5 years |
1.5+ years |
|
300 |
3–4 years |
4+ years |
|
350 |
2.5–3.5 years |
3.5+ years |
|
400 |
2–3 years |
3+ years |
|
450 |
1.8–2 years |
2+ years |
|
500 |
1.5–1.8 years |
1.8+ years |
|
550 |
1.3–1.5 years |
1.5+ years |
|
600 |
1–1.3 years |
1.3+ years |
|
650 |
1–1.2 years |
1.2+ years |
|
700 |
6–9 months |
9 months to 1.2 years |
|
750 |
3–6 months |
6–9 months |
Note: These figures are estimates and vary depending on several financial factors.
800 Credit Score Benefits
What exactly are the perks of being in the “800 club?” Is this something you should strive for?
We’re going to point out thekey benefits of having an 800 credit score to help you answer that—
Better approval rates
No matter what kind of credit you’re applying for, it’s nice to know that your 800 credit score probably beats any lender’s minimum requirements.
This high score proves you’re trustworthy and shows lenders you’ll repay the debt.
As long as you meet other criteria like having a stable income and employment, lenders will likely always approve your application.
Qualify for lower interest rates
Your credit score plays a huge role in deciding the interest rate for loans.
If you’ve got an 800 credit score, it’s easier for you to bag lower interest rates and save a ton of cash throughout the life of the loan.
The real difference is noticeable with bigger debts (like mortgages and auto loans) which you’ll be paying off for quite some time. So having that top-notch credit score can make a big impact on your wallet.
Read more:
Better credit card offers
You want nothing more than to dodge annoying interest charges when paying off your credit card debt each month.
With an impressive 800 credit score, you can get yourself the best credit cards that offer a 0% APR on purchases and balance transfers.
Having one of these cards in your pocket lets you pay off a balance gradually without having to deal with those pesky interest charges.
An 800 credit score can get you the Amex Blue Cash Preferred card,Synchrony Premier World Mastercard, and even the Capital One Venture X Rewards card.
Higher credit limits
If you’ve got an 800 credit score, you’ll probably get higher credit limits.
This not only increases your purchasing power but also helps you keep your credit utilization ratio low.
For instance, if your credit limit is $1,000 and you spend $400, your credit utilization ratio is 40%.
But if your credit limit increases to $2,000 and you maintain the same expense of $400, your credit utilization ratio will decrease to 20%.
A credit utilization rate of less than 30% helps you maintain a stellar credit score.
How to Increase Credit Score to 800: Factors Affecting Credit Scores
We bet you’re wondering what factors you should focus on to get an 800 credit score.
Here’s the full breakdown:
- Payment history: Making your credit account payments on time can help build your scores. However, missing payments, having an account sent to collections, or filing for bankruptcy can harm your credit.
- Credit usage: The number of accounts with balances, the amount you owe, and your credit utilization rate (the percentage of available credit you’re using) all play a role here.
- Length of credit history: This category tracks the average age of all your credit accounts, as well as the age of your oldest and newest accounts.
- Types of accounts: Also known as “credit mix,” this category looks at whether you’re handling both installment accounts (like car loans, personal loans, or mortgages) and revolving accounts (such as credit cards and other lines of credit). Showing responsible management across both types of accounts can benefit your scores.
- Recent activity: This considers whether you’ve recently applied for or opened new accounts.
FICO and VantageScore are two popular credit-scoring companies that take different approaches to explaining the relative importance of these categories.
Here’s how they assign scores:
FICO® score factors
FICO uses percentages to represent how important each category is.
But the exact percentage breakdown FICO uses to figure out your credit score will depend on your unique credit report.
FICO considers scoring factors in the following order:
- Payment history: 35%
- Amounts owed: 30%
- Length of credit history: 15%
- Credit mix: 10%
- New credit: 10%
VantageScore factors
VantageScore lists the factors by how influential they typically are in assigning a credit score.
VantageScore looks at the factors this way:
- Total credit usage, amounts owed, and available credit: Extremely influential
- Credit mix and experience: Highly influential
- Payment history: Moderately influential
- Length of credit history: Less influential
- New credit: Less influential
Top Tips to Get That 800 Credit Score
So, the “exceptional credit club” is the place to be. But how do you get there?
Here are some key tips to get an 800 credit score:
Monitor your credit
If you’re looking for ways to increase your credit score, it’s probably not the best right now—
That’s why it’s crucial to keep an eye on it regularly and stay on your financial A-game. Want to check your credit without spending a dime? Credit Karma is a great option.
You can check which of the below categories you fall into:
- Exceptional: 800–850
- Very Good: 740–799
- Good: 670–739
- Fair: 580–669
- Poor: 300–579
Also, learn more about different credit score ranges.
Pay on time
If you’re late on a payment by just 30 days, it can wreck your credit score and haunt your credit report for a whopping seven years.
So, if you think you might not make a payment on time, it’s best to contact your creditors right away and see if they can cut you some slack or offer any hardship options.
Keep your credit card balances low
Your credit utilization rate is a big deal—it’s the percentage of total available credit you’re currently using.
Having a low utilization rate (less than 30%) can do wonders for your credit scores.
Request a credit limit increase
If you’ve been using your credit responsibly, you might want to give your credit card company a shout and see if they can hook you up with a higher credit limit.
It could help bring down your credit utilization ratio, as long as you don’t go on a spending spree.
Get a credit card that reports to all major credit bureaus
A credit card can be the perfect tool to build credit quickly. Use it correctly and you’ll see your credit score go up in no time.
Responsibly using a credit card is one of the quickest ways to repair bad credit. Use your card to cover only expenses that you’ve budgeted for and then pay it off on time, every time.
Brooklyn LoweryEditorial Director at CardRatings.com
How long does it take to get a credit score after getting a credit card?
It usually takes around six months of using your credit card regularly to build a credit score from scratch.
Of course, you’ll have to do this responsibly—meaning you have to make payments on time, keep the utilization ratio at bay, and not get into more debt.
Here’s how you can build credit with a credit card:
- Get a credit card designed for poor credit. These cards typically have higher interest rates and lower credit limits, but they can help you rebuild credit.
- Keep your credit utilization low. This means using no more than 30% of your available credit at any given time.
- Monitor your credit report regularly to make sure account information is accurate. If you notice any errors or discrepancies, dispute them with the credit reporting agencies.
Want to get your hands on a rewards credit card but only have a fair or average credit score? The Capital One QuicksilverOne credit card may be the perfect pick for you.
Avoid too many credit inquiries
Applying for new credit can trigger a hard credit inquiry, which might ding your credit scores a bit.
Usually, it’s not a big deal, but if you apply for many credit cards or loans within a short period, it can cause a more significant drop in your scores.
Keep in mind that hard inquiries can happen when you apply for the following:
- Credit card
- Loan or mortgage
- Cell phone plan
- Apartment lease
- Job
Pay off outstanding debts
Your payment history plays a big role in determining your credit score. When you pay off debts, it shows that you’re good with money and can be trusted to pay back what you owe.
This positively impacts your credit score.
Having trouble figuring out where to begin? Check out debt repayment strategies like the debt snowball method and debt avalanche method to get started.
Also, check out our free credit card payoff calculator.
Take out a small loan
Have you been wanting to remodel your kitchen or fireplace? Consider taking out a small personal loan.
But didn’t we just say you should get out of debt?
Well yes, you should be avoiding borrowing a huge amount—but applying for a small loan and paying it back on time can help you build credit quickly.
Become an authorized user
If you have a family member or friend with a good credit score, you can ask them to add you as an authorized user on their credit card.
It’s a great way to build credit without having to go through the hassle of applying for your own card.
This trick works wonders, especially for teens. Starting early means you’ll have a longer credit history, leading to a better credit score in the long run.
Now, here’s the big question: How much will your credit score go up as an authorized user? It all depends on the credit history of the person whose card you’re piggybacking on.
If they have a stellar credit history and always make payments on time, your score could see a significant boost. On the flip side, if their credit history is a bit rocky, it could hurt your score. So choose wisely.
But what’s the minimum age for a credit card?
Most credit card issuers will let you become an authorized user at age 13. But some can get you started just after you’re born.
Leave old accounts open
Your credit score is influenced by how long you’ve had credit. It’s a good idea to keep older accounts open, even if you’re not actively using them.
This strategy can boost the average age of your credit accounts.
Key Takeaways
- Having an 800 credit score means you’ve done everything possible to prove your creditworthiness, and most lenders view you as a safe bet.
- You can qualify for preferred interest rates on mortgages, car loans, and credit cards.
- With an 800 credit score, you can even contact your existing lenders and credit card issuers to ask for a better rate.
- Thankfully, many lenders consider 760 the cutoff for excellent credit—a credit score above that number will probably get you the same benefits as an 800 credit score.
FAQ
What would a FICO score of 800 be considered? Is 800 a good credit score?
A FICO® Score of 800 would be considered an exceptional credit score.
It’s well above the average credit score of 714 in the US (and it’s nearly as good as credit scores can get).
You’ll likely have your applications approved, qualify for lower interest rates, get the best credit cards, and more.
But if you have an 800 credit score and still want to boost it, note that your score is on the low end of the “exceptional range” and fairly close to the “very good” credit score range (740-799), so there’s some (very little) room for improvement.
Learn more about credit score ranges.
How much can I borrow with an 800 credit score?
When it comes to getting loans, the amount you can borrow usually depends on factors like your credit score, payment history, employment background, income, and debt-to-income ratio.
If you meet the requirements and can afford it, there’s no strict limit on how much you can borrow with an excellent credit score of 800.
You might be eligible for a personal loan of $100,000, a car loan of $250,000, or even a home mortgage loan of $2.5 million.
Lenders are primarily concerned with avoiding risks when deciding who qualifies for a loan, especially when it’s an unsecured personal loan without collateral.
Borrowers with good credit scores have demonstrated that they repay their debts on time, which makes them less risky compared to those with lower scores.
Check out our debt repayment calculators and other personal finance tools to get out of debt now.
How to get credit score from 750 to 800?
A 750 credit score is very good, but it can be better.
If you can elevate your score into the exceptional range (800-850), you could become eligible for the lowest interest rates and fees, the very best lending terms, and the most enticing credit card rewards programs.
Here are some tips to increase your credit score:
- Monitor your credit constantly and stay on top of your financial game.
- Pay your bills on time to avoid credit score damage.
- Get a credit card that reports to major credit bureaus and use it responsibly.
- Keep credit utilization low (under 30% of available credit).
- Avoid too many credit inquiries, as they can lower your credit scores.
- Pay off outstanding debts, especially high-interest ones.
- Request a credit limit increase if you’ve been a responsible user.
- Take out a small loan and make timely repayments to build credit.
- Become an authorized user on someone else’s credit card to build credit.
- Leave old accounts open to increase the average age of your credit accounts.
How long does it take to get an 800 credit score from 0?
Depending on where you’re starting from, it can take quite a few years, or even longer, to build up an 800 credit score.
You’ll need to show a track record of consistently making payments on time for a few years. It also helps to have a variety of credit accounts to demonstrate your ability to handle different types of credit cards and loans.
Most folks with a stellar 800 credit score usually have a pretty lengthy credit history. But remember, the length of your credit history doesn’t just depend on how long you’ve been using credit, but on the average age of your open accounts as listed on your credit report.
So, if you close an old credit card, it could shorten your credit history. That’s why it’s generally a good idea to keep those old accounts open.
What are the perks of having an 800 credit score?
Here are some of the top perks of having an 800 credit score:
- An 800 credit score increases the likelihood of getting approved for credit applications.
- A higher credit score qualifies for lower interest rates on loans, resulting in significant savings.
- An impressive credit score opens doors to credit card offers with 0% APR on purchases and balance transfers.
- Having an 800 credit score may lead to higher credit limits, increasing purchasing power, and maintaining a low credit utilization ratio.
How fast can an 18-year-old build credit?
It usually takes at least six months to generate your first credit score, but it takes even longer to establish good or excellent credit. So be patient.
If you’re 18 and looking to build credit, the best way is to get a credit card in your name and use it responsibly. All the top credit cards report your account information to the credit bureaus every month, which helps you build your credit history.
Just make sure you pay your bills on time and keep your credit utilization in check. By doing this, you’ll create a positive credit history and be on your way to a good credit score.
Check out our picks for the best credit cards for 18-year-olds.
Another option is to piggyback on someone else’s credit card. You can ask a family member or friend if they’re willing to add you as an authorized user on their card. This way, you can build credit without the hassle of applying for your own card.
Read more on how to build credit without a credit card.
Is Credit Karma a reliable credit score?
The credit scores and reports you find on Credit Karma are actually from TransUnion and Equifax, which are two of the three big credit bureaus.
So the credit scores and reports you see on Credit Karma should give you a pretty accurate picture of your credit info as reported by these bureaus.
