How High Can Your Credit Score Go?

If you’re like most Americans, obtaining and maintaining a good credit score is important to you. In the United States, there are different credit score ranges. We often get asked by our visitors, how high can their credit score go? We will explain this in much detail below?

How High Can Your Credit Score Go?

Your credit score can go as high as 850 and as low as 350. A credit score above 740 is considered to be very good and anything above 800 is considered to be exceptional. The higher your credit score, the better your odds will be for being approved for a credit card or loan. This is so because persons with a good or high credit score pose little risk to lenders when compared to persons with poor credit or a low credit score.

To get the highest credit score, you must have good credit history, meaning you must have made all of your payments on time, you have low balances on your accounts, you must not have applied for too many credit card within a short period of time, you must have old accounts, and you must have no negative items on your credit report.

Achieving the highest credit score is not an easy task as it takes years of borrowing and repaying money on time without ever having missed a payment. Some people spend over a decade of building their credit to attain the highest credit score. So, if you want to get your credit score to go as high as it can go, you should keep in mind that it will take a long time to achieve.

Also, you should keep in mind that you have three credit scores, one from each of the credit reporting bureaus. You have a credit score from Experian, Equifax, and Transunion. If you have ever checked your credit report, you may have noticed that each of your credit scores is slightly different from the other ones. So, although you may have the highest credit score of 850 with one of the credit bureaus, your other scores may be lower because each credit reporting bureau has different information on which to base your credit score.

Credit Score Range (Highest Credit Score Possible vs Lowest Credit Score Possible)

Exceptional credit score – 800 to 850
Very good credit score – 740 to 799
Good credit score – 670 to 739
Fair credit score – 580 to 669
Poor credit score – Under 580

The higher your credit, the more likely you are to be approved for the credit card or loan that you apply for. You’re more likely to be approved with a higher credit score because you present a lower risk to lender since people with a high credit score have demonstrated the ability to borrow money and pay it back on time. As such, you’re rewarded by being approved and approved at a lower interest rate than someone else with poor credit.

Asking how high your credit score and go is a great thing because this means that you understand that having a high credit score is essential to be able to do things, such as opening a credit card, financing or leasing a car, taking out a loan to buy a home, or even rent an apartment.

By knowing how high can your credit score go, you know where your credit score falls. Also, it allows you to set goals for how much you need to improve your credit score to reach that ultimate 850 credit score.

How To Get Your Credit Score as High as it Can Go?

Here are a few tips on how to raise your credit score:

  • Payments – The biggest factor impacting your credit score is your payment history, so if you want to improve your credit score, the first thing that you should do is to make your payments on your credit cards and loans on time. Your payment history accounts for 35% of your credit score, so make sure to pay your accounts on time for the best boost to your credit score.

  • Balances – The second biggest factor impacting your credit score is your account balance. It accounts for 30% of your credit score. To improve your credit, you should pay down as much of your balances as you can to improve your credit score. As a rule of thumb, you should strive to keep your account balances between 5% and 10% and never use up 30% or more of your available credit.

  • New Credit – If you want to improve your credit score, you should stay away from applying for too many credit cards or loans within a short period of time. This is so because every time you apply for a credit card or a loan, a hard inquiry is added to your credit report. Although a single hard inquiry will not lower your credit score by much, having too many inquiries within a short period of time can significantly lower your credit score.

  • Old Accounts – If you want to improve your credit score and to see how high it can go, you should keep your old accounts open. This is so because your average account age makes up 15% of your credit score. Since keeping old accounts open increases your overall account age, you should keep them open as this will help your credit score.

  • Credit Report – To help your credit score, you should get into the habit of periodically checking your credit report. If you check your credit report and you find incorrect information on your credit report, you should file a dispute with the credit bureau reporting the incorrect information to have it removed from your credit report. Negative information that’s incorrectly reported could significantly lower your credit score.

Is it Possible to get an 850 Credit Score?

It is possible to get an 850 credit score, but it will take years of following good credit habits to achieve the highest possible credit score of 850. Persons who have achieved a perfect credit score of 850 have flawless payments history for more than a decade, meaning that they have never missed a payment on a credit card or loan for more than 10 years. Additionally, they have used credit responsibly, never having a negative mark added to their credit report. So, if you want to get the highest credit score, you must have patience and you must be responsible when it comes to using credit.

Can Your Credit Score Be Too High?

We often get asked whether a person can have a credit score that’s too high? The short answer is: no. In the United States, having a high credit score is a great thing because it opens the door to many great options. The higher your credit score, the better the approval odds you will have for credit cards and loans. Also, when you’re approved for credit cards and loans, the higher your credit score, the better the interest rate you’ll get, and the better your repayment terms will be. So, it’s definitely worth it to raise your credit card as high as possible.

What is the Average Credit Score?

According to Value Penguin, the average credit score in the United States is 695. Some people have a higher credit score while others have a lower credit score. An average credit score of 695 will qualify you for things such as credit cards and loans, however, you might not get the best terms and interest rates with such a credit score. To get the best terms, you should improve your credit score.

Bottom Line

If you were wondering how high can your credit score go, you now know that the highest possible credit score is an 850 credit score. Obtaining a perfect credit score of 850 is not an easy task, in fact, many people who have reported achieving this credit score have stated that it took them over a decade of opening accounts and responsibly repaying them to achieve it. If you have any general questions or comments, please feel free to leave them in the comments section below.