“Other than vanity, which I totally get, there’s really no reason to have an 850,” says John Ulzheimer, an Atlanta credit card expert and writer who formerly worked at credit bureau Equifax and credit score developer FICO. A very good credit score -think 760 and above-should be enough to qualify you for top borrowing rates. Also important are having access to sufficient credit to boost factors like your credit utilization ratio, according to credit experts. How do you become one of the credit score elect? It takes discipline and patience, including years, if not decades, of steadily paying your bills on time. But a small minority of Americans-just 1%-achieve perfection, the magical 850.
Credit scores range from 300 to 850 and the average FICO Score is about 715.
Your credit score is a big part of your financial life, potentially affecting what you pay for everything from a mortgage to auto insurance. Your Instagram page, your steak sear-and perhaps your credit score. There are plenty of things in life you want to be perfect.
