How to Get Credit from 750 to 800

Is there a big difference between a credit score of 750 vs. 800?

The answer is yes. While 750 is an excellent credit score, 800 is considered exceptional and can open up access to the best credit card rewards programs, lowest interest rates, and outstanding lending terms.

Highlights/ Key Takeaways

• Only 23% of individuals have a credit score of 800 or higher, and it is the highest tier of credit scores possible.
• Increasing your credit score from 750 to 800 is feasible and manageable with the right strategy.
• A credit score of 800+ opens doors to better opportunities like lower interest rates, better insurance rates, and more advantageous credit accounts.

How to Increase Your Credit Score from 750 to 800

A credit score of 800 is fairly uncommon, but if you already have one at 750 points, 800 isn’t far off.

Here are some stats on a credit score of 800:

• Only 23% of individuals have a credit score of 800 or higher
• The average credit score in the US is 714
• Having a credit score of at least 800 puts you in the exceptional range, which is the highest possible tier of credit scores

Here are some ways you can get an 800 credit score, which is considered an excellent credit score.

1. Always Pay Your Bills on Time

A solid payment history is critical for the health of your credit score. With the FICO system, your payment history accounts for around 35% of your overall credit score.

If you forget or cannot pay a bill on time, there is a grace period for you to save your credit score from negative consequences. Lenders do not usually report missed payments until 30 days after they’re due. So make sure to pay your bills before then.

2. Pay Attention to Your Credit History

Individuals with longer credit histories typically have higher credit scores. This is because it demonstrates the ability to manage credit over a long time.

The length of your credit history accounts for 15% of your overall credit score.

If you’re considering closing one of your credit accounts, consider the consequences first. If the account is in good standing and you close it, you could experience a reduction in not only your credit history’s length but also your credit limit overall.

If you are tired of paying annual fees on an account you don’t use, consider asking the card issuer to help you downgrade your account to a card without an annual fee.

3. Keep Card Balances Low

Low card balances are some of the most influential aspects of your credit score.

Your card balance shows the amount of credit you’ve used compared to your overall credit limits. For example, if you have three different credit cards, and the overall credit limit on all three combined is $10,000, but the outstanding balance of all three combined is $5,000, you have a credit utilization ratio of 50%.

A good rule of thumb to avoid any negative consequences on your credit score is to keep your credit utilization under 30%.

If you want a score of 800, however, you should aim for around 11.5%.

4. Improve Account Types

The diversity of your credit accounts for 10% of your overall score. You can improve your credit mix by opening a personal loan if all you have are credit cards or vice versa.

Diversifying your accounts can also increase your credit limit, which will help with your credit utilization ratio.

5. Dispute Inaccurate Information

If there are mistakes or inaccuracies in your credit score, you should dispute them to prevent negative consequences from impacting your score.

Sometimes, errors appear due to fraud, identity theft, or simple mistakes. Audit your credit report and take note of any potential discrepancies.

6. Avoid Hard Inquiries

Too many hard inquiries on your credit score have negative consequences. Hard inquiries are sometimes unavoidable if you apply for a new credit card or loan, but you should still minimize them if possible.

7. Consolidate Debt

If you have a lot of debt that is making it hard for you to keep your credit utilization ratio low, consider consolidating your debt. Taking out a credit repair loan allows you to pay off your accounts at a potentially lower monthly rate and interest rate!

Why Raise Your Credit Score from 750 to 800?

Increasing your credit score feels like a lot of work, so why should you bother?

Some of the benefits of excellent credit (which is 800+) include:

• Lower interest rates
• Better credit offers
• Better insurance rates
• Higher credit limits

With a credit score of 800, you will have better approval odds. This is because most lenders have a minimum credit score requirement lower than 800.

Of course, your credit score isn’t the only thing lenders look at. They will also look at your employment history and income. But an 800 score more than likely exceeds whatever their minimum requirements are for a credit score.

The very best credit cards are reserved for those with excellent credit, like 800 and above. These credit cards typically come with impressive rewards like cash back, travel points, and more.

Higher credit scores make you more likely to be accepted for better mortgages and loans. These loans come with lower interest rates, helping you save money vs. if you had a lower score.

Some lenders reserve their best rates for those with excellent credit. Applying for personal loans with excellent credit increases your approval odds and the advantageousness of the loan in question.

With a credit score of 800+, you can also access high credit limits. This access is beneficial because higher limits can decrease your credit utilization ratio.

You may also get better insurance rates if your provider considers your credit score.

How Long Does It Take to Get 750 to 800 Credit Score?

If your credit score is stuck at 750, the length of time it takes to increase your credit score will depend on a variety of factors, including:

• How long it takes you to pay down debt and decrease your credit utilization ratio
• The amount of time it takes hard inquiries or negative remarks to fall off your account
• The length of time it takes for you to build up a long credit history

There’s no one-size-fits-all answer, as it can take you a few months to a few years to build up that last 50 points.

However, if you stay focused on your goal, that 800 credit score will be here before you know it.

How to Keep an 800 Credit Score Once You Achieve It

The process of keeping your perfect credit score is similar to the actions you took to achieve it in the first place:

• Keep your credit utilization ratio low
• Maintain a sufficient credit history
• Have a good mix of accounts for diversity
• Pay your bills on time

As long as you keep doing what you are doing, there’s no reason for your credit score to dip back to what it once was.

Final Word

While a credit score of 750 is great, a score of 800 is excellent. The higher your score, the more financial opportunities open up to you, allowing you to have better purchasing power and save money on everyday bills, like your mortgage or car insurance.

Increasing your score takes work, but if you already have a score of 750, 800 is certainly achievable with a little focus.