How To Get An 800 Credit Score? [PLAN OF ACTION]

Shawn Manaher
Shawn Manaher
Updated on December 2, 2022
how to get an credit score

Trying to get an 800 credit score? This guide has all the best tips plus a plan of action.

Having a high credit score is one of the best things you can do for yourself since it opens up doors for you to get better mortgages and loans with low-interest rates. It also might help you find better employment options since some companies check credit scores.

The best ways to get an 800 credit score are to build your credit history, pay all your bills on time, and keep your credit utilization rate low. With this plan of action, getting an 800 credit score is attainable.

Getting an 800 credit score overnight isn’t possible, but with some hard work and managing your money well, you should be able to do it. This guide will cover the exact steps to help you get there.

What Does It Mean to Have an 800 Credit Score?

Credit scores can be confusing, but they matter. You need to make sure you are always keeping track of your credit score and doing everything you can to keep it as high as possible. When you have an 800 credit score, you are considered to have an excellent credit score. Less than 25% of Americans have a credit score in the excellent range since most have good or average credit scores.

When your credit score is 800, you have done an excellent job in managing your credit. This means you have a perfect payment history, a good mix of credit, and you only use a very small percentage of your total credit limit.

Since you have an excellent credit history, lenders see you as a low-risk borrower. This means you can find it easy to get loans and credit cards. You will also find it easier to get mortgages and auto loans.

You will be able to have a competitive edge over those with lower credit scores. Having an 800 credit score also shows that you are financially responsible and can manage your money well.

Why are Credit Scores Important?

Credit scores are used to determine if you can receive loans, credit cards, and mortgages. Lenders will look at your credit score before they decide whether to give you funds or not. If they determine you are a high-risk borrower, which is when your credit score falls under the good category, you will have a hard time getting loans.

A score of 800 opens up more doors for you because you can apply for loans and have a very good chance of being approved easily.

How to Get an 800 Credit Score

Getting a perfect 800 credit score is harder than it seems. While you might not be able to get a full 800, there are some steps you can follow to make sure your credit score is as high as it can be. Here are the top tips to follow for raising your credit score.

Build Your Credit History

Your credit history is 15% of your credit score. Having a negative or no credit score makes your credit score low. You can solve this issue though by building your credit. Start by getting a credit building loan or taking out your first credit card. 

Loans designed for building credit are specifically designed to help someone build their credit by giving them a positive payment history. It doesn’t work like traditional loans though. Traditional loans will put the money directly into your bank account while credit building loans will put money into a savings account for you and then gain access to the funds once you have taken out a loan and repaid it.

You can also get a credit card and use it responsibly to get an 800 credit score. With no credit history, you might not be able to get a traditional credit card. In this case, you can apply for a secured credit card.

You will need to make a cash deposit that serves as collateral. The cash you deposit will be equal to your credit limit. This helps you build enough credit history until you can eventually get a traditional credit card.

Pay Your Bills On Time

Payment history is the most important because it counts for 35% of the credit score. You should always aim to never miss a payment as having late or missed payments greatly impacts your credit score. In addition to this, if the credit bill is 30 days past due, the company will begin to report this to the credit bureaus.

This causes serious damage to your credit score. If you have a hard time remembering when your payments are due, you can set up automatic payments. You can also track the dates on a spreadsheet. The credit card company will also send you reminder emails when the payment is due.

If you know your payment is coming up but cannot make the payment, email the company and tell them the situation. Many credit card companies have financial relief programs where they can lower your monthly payment or APR to help you.

Keep Your Credit Utilization Rate Low

Your credit utilization accounts for 30% of your score, so it’s very important just like paying your bills on time. Credit utilization is how much credit you use versus your total credit limit. You should aim not to use more than 30% of your credit limits.

So, if you have a credit limit of $10,000, try not to use more than $3,000. This means you never want to max out your credit cards. The closer you can keep them to $0, the better. However, this might always be possible especially if you have some unforeseen circumstances pop up.

Keeping your credit utilization low shows lenders that you are smart with your money and you do not rack up your credit bills just because you have high spending limits. When using your credit cards, try to only make purchases with the money that you know you can pay back once the billing cycle is over.

Review Your Credit Reports

You always need to make sure you are reviewing your credit reports because it allows you to make sure everything that is being reported is correct. There are many free credit reporting websites where you can check your credit score every month.

Make sure there is never inaccurate or negative information. If you see something that does not look right, you need to report it right away. The credit bureau will be able to check the mistake and remove it from your report so that it does not harm your score.

Credit reporting mistakes can happen and need to be fixed right away. Go through your credit report at least once a year, but ideally, you should go through it more often than that.

Benefits of an 800 Credit Score

There are tons of benefits when it comes to having an 800 credit score. One of the main ones is easier loan approval. 800 is one of the best credit scores you can have so no lender will turn you down since most have a minimum requirement of 670 or less.

You will still need to meet other loan requirements though such as income to debt ratio. Even with a credit score of 800, you still need to meet all the other loan requirements to get approved.

With a score of 800, you will also have much lower interest rates. You might even qualify for 0% financing when you are getting a new car. This can save you thousands of dollars over the course of your loan term. This gives you money to use elsewhere and to save for other things you might be wanting.

You will also be able to get lower insurance premiums. There are many states that allow credit-based insurance which means they will look at your credit score to determine your monthly insurance quotes. This could save you hundreds of dollars on your auto insurance and homeowners insurance plans.

You will also be able to get better credit card offers. With an 800 credit score, you will be able to get a 0% APR. You might also qualify for an interest-free period which can help you save money. Some of these cards also have travel bonuses and other rewards you can use for discounts at hotels and restaurants.

In Closing

The best way to get an 800 credit score is to make all your payments on time, build your credit score, and keep the utilization low. Try not to reach the max limit on your cards and keep your debt-to-income ratio low. All these things will take some time to do, but you will see your credit score rise slowly.

An 800 credit score will open many doors for you because it makes it easier to get loans and credit cards since lenders will see you as low risk. You just need to have patience and follow all the tips above.

Shawn Manaher

Shawn Manaher

Shawn Manaher is a former financial advisor, has founded 5 online businesses, and is a coach, speaker, podcast host, and author.

He's been featured on Forbes, The Consults Corner on TAE Radio, The Writing Biz, What's Your Story, and more.

He loves to share his personal finance tips and money management wisdom with others to help them find financial freedom.
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