What is the highest credit score possible? To start off: No, it's not possible to have a 900 credit score in the United States. In some countries that use other models, like Canada, people could have a score of 900. The current scoring models in the U.S. have a maximum of 850.
As of the third quarter of 2023, 1.54% of U.S. consumers had a FICO Score of 850, according to Experian data. Some notable traits of consumers with a perfect credit score include an above average number of credit cards, lower credit utilization rate and lower than average total debt.
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).
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.
Fewer than one-fourth of U.S. adults have credit scores of 800 or higher. Generally speaking, it takes a rather long history of responsible credit behavior to build your score to this level. A credit score of 840 tells lenders that you are highly likely to pay back money that you borrow.
South Burlington, Vt., is the city with the highest credit score, while Detroit is the city with the lowest, according to personal finance site WalletHub.
By age 40, the average credit score often falls in the good range (670-739), reflecting established credit habits and histories. At this age, financial responsibilities like mortgages, car loans, and family expenses can influence credit scores positively if managed well.
There's no single, specific credit score that will automatically qualify you for a mortgage (though having the maximum score of 850 certainly never hurts). However, while lenders might not set precise qualifying numbers, they do have minimum credit score requirements.
800 to 850: Excellent Credit Score
Individuals in this range are considered to be low-risk borrowers. They may have an easier time securing a loan than borrowers with lower scores.
Paying your mortgage in full usually does not have a significant impact on your credit score. But once the mortgage is removed from your credit history, your score may drop slightly because of a reduced credit mix — that is, you no longer have as large a variety of types of debt.
"The 850 FICO Score." Experian. "The Elusive 850: Experian Reveals Traits of Consumers With Perfect FICO® Scores."
Key Takeaways. 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.
Membership in the 800+ credit score club is quite exclusive, with fewer than 1 in 6 people boasting a score that high, according to WalletHub data. Since so few people have such high scores, lenders don't split the 800+ credit score crowd into smaller groups that get separate offers.
Nearly half of Americans score between 750 and 850, in the very good to exceptional range, while less than 25% of Americans have a score between 300 and 649, the poor to fair credit score range.
Overall, Credit Karma may produce a different result than one or more of the three major credit bureaus directly. The slight differences in calculations between FICO and VantageScore can lead to significant variances in credit scores, making Credit Karma less accurate than most may appreciate.
While income doesn't have a direct impact on your credit score, it can have an indirect impact since you need to have sufficient income to pay your bills. And if you don't make enough money to cover your bills, you can rack up debt or miss payments, which can negatively impact your credit score.
Making a late payment
Your payment history on loan and credit accounts can play a prominent role in calculating credit scores. Even one late payment on a credit card account or loan can result in a credit score decrease, depending on the scoring model used.
If you've ever wondered what the highest credit score you can have is, it's 850. That's at the top end of the most common FICO® and VantageScore® credit scores. And these two companies provide some of the most popular credit-scoring models in America. But do you need a perfect credit score?
exceedingly rare for anyone to have a credit score over 900, as most credit scoring models have a maximum limit of 850, and even achieving that score is uncommon.
They Pay Bills on Time
FICO recently reviewed the profiles of consumers it calls high achievers (those with scores higher than 795) and found that 96% of them had no late payments on their credit reports.