Frequently Asked Questions(FAQ)

Is 800 a good credit score?

The Fico scoring system ranges from 300 to 850 and a score of 800 is considered to be exceptional. You should have no trouble getting approved for whatever you can afford. Your credit score is better than good and lenders look at you as a top-tier and low-risk borrower. 

How many people have an 800+ credit score?

Only 21% of consumers have a credit score between 800 and 850. This means that just over two out of twenty or twenty one out of one hundred people have a credit score as good as yours. The remaining consumers have lower credit scores.  

Do you need an 800+ credit score?

Having an 800 credit score isn’t necessary and you don’t need it, but it does depend on who you ask. It’s certainly a subjective question. If you want to live a lavish lifestyle and be able to finance a boat, a car, and get the best interest rate on your home loan, then an 800 credit score is needed. 

If you’re content with a more basic lifestyle, then an 800 credit score isn’t a necessity. However, keep in mind, that regardless of what loans you take out and how you live, a high credit score will save you money on everything. Even if you’re renting an apartment, you may qualify for a lower security deposit based on your high credit score. You may also save money on your auto insurance or renter’s insurance. 

How long does it take to get an 800 credit score?

There are so many factors that go into determining your credit score, so it’s hard to say how long exactly it will take to get an 800 credit score. For example, your credit score is made up of the length of  your credit history, your credit utilization rate, and your payment history. 

If your credit score is already a 755, it will take a much shorter time to get your credit score to 800 than if you started with a 620 credit score. The amount of time needed to improve your credit score also depends on your overall financial situation. If you can pay off all your debt immediately, your score may jump up to an 800 in 45 days. But, if you don’t have extra money available to pay off debt or increase your monthly payments, then it may take longer to increase your credit score. 

Develop good credit habits, pay your bills on time, don’t overspend, and monitor your credit. Those are the best ways to eventually get to an 800 credit score. 

About the Authors

Allison Bethell

Written by: Allison Bethell

Real Estate Expert

Allison Bethell is a content writer, real estate investor, small business owner, and consultant. She has a B.A. from Villanova University in Sociology and Business. She also holds several graduate certificates in early childhood development, screenwriting, and contract law.

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