The highest credit score possible is 850. This is considered the perfect credit score. 850 is the top score you can get in both the FICO and VantageScore credit scores.
Credit score ranges typically vary from poor to exceptional, with 300 being the minimum poor credit score and 850 being the maximum exceptional score.
Some of the key benefits of having a perfect credit score include paying lower insurance premiums, getting approved for credit or loans more easily, and qualifying for lower interest rates. As of the third quarter (Q3) of 2023, in the U.S., just 1.54% of people have the highest credit score of 850. [1] Experian - Who has a perfect credit score and what do they have in common? https://www.experian.com/blogs/ask-experian/perfect-scores-who-has-them-and-what-do-they-have-in-common/
The average credit score in the U.S. is 715 as of Q3 2023 but this varies by state and is always changing based on people’s financial circumstances. [1] Experian - Who has a perfect credit score and what do they have in common? https://www.experian.com/blogs/ask-experian/perfect-scores-who-has-them-and-what-do-they-have-in-common/
Research from FICO [2] Traits of the 800 FICO score holder https://www.myfico.com/credit-education/blog/traits-of-the-800-fico-credit-score-holder showed that consumers in the U.S. with credit scores of 800 or more typically have similar habits when it comes to their finances.
If you want to get a perfect credit score, consider practicing these habits when dealing with credit cards, auto loans, and other types of credit:
There are many more tactics you can apply to build credit and bump your score over time. Some things may seem small, but they all contribute to your score.
It’s important to bear in mind that an 850 credit score can be elusive, and credit scores change all the time depending on people’s financial habits, debt, payment history and applying for new loans. If you manage to achieve the maximum credit score of 850, it may not stay that way for long.
There are some key pieces of financial data that affect your credit score, but they don’t all have an equal impact. Below you can see the breakdown of credit data categories and how FICO uses them to calculate your score [3] FICO - What’s in your credit score? https://www.myfico.com/credit-education/whats-in-your-credit-score:
The key piece of data that affects your credit score the most is your payment history, with this making up 35% of your overall score. [3] FICO - What’s in your credit score? https://www.myfico.com/credit-education/whats-in-your-credit-score Your payment history shows lenders how risky it is to extend credit to you, and how likely you are to make your payments on time. This means if you regularly make your payments on time, it will make a big contribution towards you having a better credit score.
Amounts owed makes up the second highest proportion of your credit score at 30%. Owing money on your credit accounts doesn’t necessarily make your credit score lower, but using a lot of your available credit could signal that you are overstretching your spending and more likely to default on payments.
The length of your credit history contributes to 15% of your overall credit score. Generally, people with longer credit histories and established accounts will have higher credit scores, but having a shorter credit history doesn’t necessarily mean your score will be low.
New credit accounts you take out account for 10% of your credit score, which is fairly small but still worth considering. Opening lots of new credit accounts in a short space of time can have a negative impact on your score, especially if you have a short credit history.
Your credit mix is the different types of credit cards, accounts, and loans you have, and FICO will factor this in when determining your score. Credit mix also makes up 10% of a credit score so it has less of an impact in determining your score compared to factors like payment history. A good rule of thumb is to have at least one type of revolving credit and one type of installment credit. [6] Experian - What is Credit Mix? https://www.experian.com/blogs/ask-experian/what-is-credit-mix-and-how-can-it-help-your-credit-score/#:~:text=There's%20no%20such%20thing%20as,financial%20moves%20throughout%20your%20life
There are many benefits to having a high credit score, especially when it comes to taking out new credit or loans. Some of these advantages include:
These things can all make life a little bit easier when it comes to your finances, and taking out credit or loans for a range of purchases.
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Download our guideThe amount of time it takes to build your credit score depends on your unique financial situation. Generally, the things that affect how long it will take to increase your credit score are:
If you’re starting with no credit history, it will usually take between three and six months of credit activity to establish a score. [4] Experian - How long does it take to get a credit score? https://www.experian.com/blogs/ask-experian/how-long-after-getting-first-credit-account-will-score-created/ From there it could take months or years to build up to one of the highest credit scores.
The exceptional credit range is a score between 800 and 850. Most people whose credit score falls within this range will enjoy the same benefits, regardless of having the maximum 850 credit score.
Achieving the highest credit score possible is definitely a worthy goal and creates a mindset of financial ability, but a perfect score is not necessary to experience the most elite benefits of excellent credit. For example, most customers with a credit score of 760 or above can receive the best interest rates for loans or credit cards.
Those in the “Exceptional” range of 800-850 will generally be evaluated the same, so there’s no need to “break your back” in order to achieve a perfect score when an 800 is just as excellent in the eyes of a lender.
Aiming for a perfect credit score can still help you make positive habits and an excellent financial reputation which will save you money in the long run.
While there are things you can do to help upgrade your credit score, there are some things that might stop you from achieving a perfect credit score.
In the U.S. as of the third quarter of 2023, 21.9% of people have a credit score between 800 and 850, the highest score range you can achieve, and 28.1% of people have a score between 740 and 799. [5] Experian - How Many Americans Have an 800 Credit Score? https://www.experian.com/blogs/ask-experian/how-many-americans-have-800-credit-score/ In addition to this, 12.6% of people fall into the lowest credit score range of 300-579.
| Credit Score Range | Percentage of People in the U.S. |
|---|---|
| Poor (300-579) | 12.6% |
| Fair (580-669) | 15.8% |
| Good (670-739) | 21.6% |
| Very good (740-799) | 28.1% |
| Exceptional (800-850) | 21.9% |
Source [5] Experian - How Many Americans Have an 800 Credit Score? https://www.experian.com/blogs/ask-experian/how-many-americans-have-800-credit-score/
That perfect credit score is definitely a great goal and would undoubtedly give you bragging rights among your family and friends, but it’s not necessary in order to reap the benefits of excellent credit. Instead, focus on making payments, lowering overall debt, and maintaining all your accounts and finances. Achieving an “Exceptional” credit score is possible, but it takes time and dedication.
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