Is 800 a good credit score? Here's what to expect when you reach this number (2024)

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Lenders use credit scores to determine a borrower's creditworthiness, or the likelihood they will be able to pay back their loan on time and in full.

This three digit number between 300 to 850 is calculated based on the information in your credit report.Two scoring models — FICO and VantageScore — are the most widely used, although FICO tends to be the more popular choice among lenders.

Whenever you apply for a line of credit, a lender will take a look at your credit score to decide whether to extend a loan to you and determine what terms are appropriate.Having a good credit score can end up saving you hundreds or even thousands of dollars since it also determines the interest rate you'll get on a mortgage or the APR you'll have on a new credit card.

Below, Select takes a closer look at what having a credit score of 800 really means for consumers, and how it affects the types of credit you would have access to.

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What it means to have a credit score of 800

A credit score of 800 means you have an exceptional credit score, according to Experian.According to a report by FICO, only 23% of the scorable population has a credit score of 800 or above.

FICO considers five factors in the calculation of your credit score:

  • Payment history (35%): Make sure your payments are made on time and in full
  • Amounts owed (30%): Your credit utilization ratio — the ratio of the amount of credit you use to the amount you've been extended — should be low
  • Length of credit history (15%): You'll benefit from having a longer credit history
  • Credit mix (10%): Aim to have several different types of credit, whether it's installment loans, credit cards or a mortgage
  • New inquiries (10%): Don't apply for too many lines of credit in a short period of time

If you have a credit score of 800, it probably means you have a long credit history, have been making payments on time and keep a low credit utilization ratio. All this information shows lenders that you're likely to make good on your loan.

According to a 2021 survey conducted by LendingTree, nearly all people with credit scores of 800 or above made their payments on time and in full — they also tend to have a low average credit utilization ratio of 5.7% and have old active accounts, with the average being at least 27 years.

That said, you don't necessarily need to have a perfect credit score in order to get favorable terms on loans or low APRs on credit cards, as only a very small percentage of people have a perfect credit score. A recent FICO report showed that in April 2019, just 1.6% of the U.S. scorable population had a FICO score of 850 —it's typically unnecessary to aim for a credit score above 800.

Generally, the rule of thumb is you'll need to have a credit score above 760 in order to receive the best terms on loans and/or mortgages. In other words, having a credit score of 800 puts you within the top credit score range and will help you qualify for the best terms, whether it's for a mortgage or a personal loan.

Best credit cards if your credit score is 800

Having a credit score of 800 gives you access to some of the best credit cards on the market, which typically have a lower APR, offer more rewards opportunities, include more perks and have better welcome bonuses.

The Chase Sapphire Preferred® Card is a popular choice for consumers who want a credit card with a generous welcome bonus but don't need a luxury card. Chase Sapphire Preferredcardholders can earn 60,000 bonus points spending $4,000 within the first three months of account opening.

Points earned can be redeemed through Chase Travel℠ for a redemption value of 1.25 cents per point, so the welcome bonus alone could be worth $750 in travel rewards, or potentially more if you transfer your points to any of Chase's travel partners like United or Hyatt.

Chase Sapphire Preferred® Card

On Chase's secure site

  • Rewards

    Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, and $50 annual Chase Travel Hotel Credit, plus more.

  • Welcome bonus

    Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠.

  • Annual fee

    $95

  • Intro APR

    None

  • Regular APR

    21.49% - 28.49% variable on purchases and balance transfers

  • Balance transfer fee

    Either $5 or 5% of the amount of each transfer, whichever is greater

  • Foreign transaction fee

    None

  • Credit needed

    Excellent/Good

  • Terms apply.

Read our Chase Sapphire Preferred® Card review.

Those who prefer a luxury credit card with a higher annual fee and more benefits should consider the American Express® Gold Card, which offers perks such as up to $120 Uber Cash credit annually ($10 in Uber Cash each month which can be used towards rides or Uber Eats), a $120 annual dining credit ($10 in statement credits each month when ordering through select dining options, such as Grubhub and Shake Shack) and a $100 experience credit with a minimum two-night stay when you book The Hotel Collection through American Express Travel. Experience credit varies by property.

The current welcome bonus gives new cardholders 60,000 Membership Rewards® points after spending $6,000 on eligible purchases with your new card within the first 6 months of card membership.

American Express® Gold Card

On the American Express secure site

  • Rewards

    4X Membership Rewards® points at Restaurants (plus takeout and delivery in the U.S.) and at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X), 3X points on flights booked directly with airlines or on amextravel.com, 1X points on all other purchases

  • Welcome bonus

    Earn 60,000 Membership Rewards® points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership.

  • Annual fee

    $250

  • Intro APR

    Not applicable

  • Regular APR

    See Pay Over Time APR

  • Balance transfer fee

    N/A

  • Foreign transaction fee

    None

  • Credit needed

    Excellent/Good

  • See rates and fees, terms apply.

Read our American Express® Gold Card review.

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Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

Is 800 a good credit score? Here's what to expect when you reach this number (2024)

FAQs

Is 800 a good credit score? Here's what to expect when you reach this number? ›

An 800 credit score shows lenders you are an exceptional borrower. You may qualify for better mortgage and auto loan terms with a high credit score. You may also qualify for credit cards with better rewards and perks, such as access to airport lounges and free hotel breakfasts.

How much credit can I get with a 800 credit score? ›

Despite those high balances, it's equally important to note that those with high credit scores also have high credit card limits. For those with 800-plus scores, their average credit card limits are $69,346. That's up from the $58,514 average we found in May 2021.

What percentage of Americans have a credit score over 800? ›

Twenty-three percent of Americans have a credit score between 800 and 850, considered "exceptional" by FICO. A credit score at the top of that range -- 850 -- is considered a perfect score. Twenty-four percent have a FICO® Score between 750 and 799, making the "very good" bracket. Data source: FICO (2022).

Does a 750 vs 800 credit score matter? ›

A 750 credit score is Very Good, but it can be even better. If you can elevate your score into the Exceptional range (800-850), you could become eligible for the very best lending terms, including the lowest interest rates and fees, and the most enticing credit-card rewards programs.

Is a 900 credit score possible? ›

Highlights: While older models of credit scores used to go as high as 900, you can no longer achieve a 900 credit score. The highest score you can receive today is 850. Anything above 800 is considered an excellent credit score.

How many people have a credit score over 825? ›

Your score falls in the range of scores, from 800 to 850, that is considered Exceptional. Your FICO® Score and is well above the average credit score. Consumers with scores in this range may expect easy approvals when applying for new credit. 21% of all consumers have FICO® Scores in the Exceptional range.

Can I buy a car with an 800 credit score? ›

Buying a car with an 800 credit score

And with auto loans, your high credit score can make even more of a difference. On a 60-month new car loan, the average borrower with a credit score of 720 or higher gets a 5.52% APR as of October 2022. With a score in the 660-689 range, the average rate is 9.14%.

What is the average credit score in the United States? ›

The average FICO credit score in the US is 717, according to the latest FICO data. The average VantageScore is 701 as of January 2024. Credit scores, which are like a grade for your borrowing history, fall in the range of 300 to 850. The higher your score, the better.

How rare is an 820 credit score? ›

Your score falls in the range of scores, from 800 to 850, that is considered Exceptional. Your FICO® Score and is well above the average credit score. Consumers with scores in this range may expect easy approvals when applying for new credit. 21% of all consumers have FICO® Scores in the Exceptional range.

What is the average credit score by age? ›

Average Credit Scores by Age Increase Slightly for Most
Average Credit Score by Age
Generation (Age)20222023
Baby boomers (59-77)743745
Generation X (43-58)707709
Millennials (27-42)687690
2 more rows
Jan 22, 2024

Is 800 credit rare? ›

Your 800 FICO® Score falls in the range of scores, from 800 to 850, that is categorized as Exceptional. Your FICO® Score is well above the average credit score, and you are likely to receive easy approvals when applying for new credit. 21% of all consumers have FICO® Scores in the Exceptional range.

Is there a difference between 799 and 800 credit score? ›

A 799 credit score is Very Good, but it can be even better. If you can elevate your score into the Exceptional range (800-850), you could become eligible for the very best lending terms, including the lowest interest rates and fees, and the most enticing credit-card rewards programs.

Does it matter if your credit score is 800 or 850? ›

The bottom line

If you have an 850 credit score, your credit is perfect — but any credit score over 800 is considered exceptional, and that's just as good.

Has anyone gotten an 850 credit score? ›

Only 1.31% of Americans with a FICO® Score have a perfect 850 credit score. While a score this high is rare among any demographic, older generations are more likely to have perfect credit. Baby boomers make up a whopping 59.4% of the people with an 850 credit score.

What is a good credit score to buy a car? ›

Your credit score is a major factor in whether you'll be approved for a car loan. Some lenders use specialized credit scores, such as a FICO Auto Score. In general, you'll need at least prime credit, meaning a credit score of 661 or up, to get a loan at a good interest rate.

What is a perfect FICO score? ›

A perfect FICO credit score is 850, but experts tell CNBC Select you don't need to hit that target to qualify for the best credit cards, loans or interest rates.

Is a credit score of 800 rare? ›

How rare is an 800 credit score? An 800 credit score is not as rare as most people think, considering that roughly 23% of adults have a credit score in the 800-850 range, according to data from FICO. A score in this range allows consumers to access the best credit card offers and loans with the most favorable terms.

What is a good credit score for a 25 year old? ›

Consider yourself in “good” shape if your credit score is above the average for people in your age group. Given that the average credit score for people aged 18 to 25 is 679, a score between 679 and 687 (the average for people aged 26 to 41) could be considered “good”.

How rare is an 850 credit score? ›

How many Americans have an 850 credit score? Only 1.31% of Americans with a FICO® Score have a perfect 850 credit score. While a score this high is rare among any demographic, older generations are more likely to have perfect credit. Baby boomers make up a whopping 59.4% of the people with an 850 credit score.

Is there a difference between 700 and 800 credit score? ›

For a score with a range between 300 and 850, a credit score of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent. Most consumers have credit scores that fall between 600 and 750. In 2023, the average FICO® Score in the U.S. reached 715.

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