What's the Highest Possible Credit Score? The most commonly used credit scoring models have scores ranging from 300 to 850, so the highest score you can have is 850. However, some scores have bigger ranges, such as the 250 to 900 range for FICO's industry-specific scores.
First off, it's important to understand that credit scores of zero do not exist. Both the FICO and VantageScore scoring methods range from 300 to 850, so the lowest your credit score can go is 300.
Generally, credit scores range from 300 to 850, making 300 the lowest possible credit score.
But your credit score won't start at zero, because there's no such thing as a zero credit score. The lowest score you can have is a 300, but if you make responsible financial decisions from the beginning, your starting credit score is more likely to be between 500 and 700.
Your score falls within the range of scores, from 300 to 579, considered Very Poor. A 300 FICO® Score is significantly below the average credit score. Many lenders choose not to do business with borrowers whose scores fall in the Very Poor range, on grounds they have unfavorable credit.
If you're new to credit, it might take six months to a year to hit a respectable score of around 700 with FICO® or VantageScore® models.
Your credit score can drop for a number of reasons, including a recent late or missed payment, an application for new credit or a change to your credit limit or usage. To understand why your credit may have gone down, it's important to understand what affects your credit scores.
There isn't a set credit score that each person starts out with. Instead, if you don't have any credit history, you likely don't have a score at all.
A credit score of 999 from Experian is the highest you can get. It usually means you don't have many marks on your credit file and are very likely to be accepted for a loan or credit card. However, a high credit score doesn't guarantee your loan will be accepted.
While older models of credit scores used to go as high as 900, you can no longer achieve a 900 credit score. The highest score you can receive today is 850. Anything above 800 is considered an excellent credit score.
They may differ by 20 to 25 points, and in some cases even more. When Credit Karma users see their credit score details, they are viewing a VantageScore, not the FICO score that the majority of lenders use. A VantageScore has the same credit score range as FICO, and uses some of the same information as a FICO score.
Late or missed payments can cause your credit score to decline. The impact can vary depending on your credit score — the higher your score, the more likely you are to see a steep drop.
It's possible that you could see your credit scores drop after fulfilling your payment obligations on a loan or credit card debt. Paying off debt might lower your credit scores if removing the debt affects certain factors like your credit mix, the length of your credit history or your credit utilization ratio.
Credit Karma allows you to check your credit report and score for free, without affecting your score. The service doesn't hurt your credit score because it counts as a self-initiated inquiry, which is a soft credit inquiry.
Even better, just over 1 in 5 people (21.2%) have an exceptional FICO credit score of 800 or above, all but guaranteeing access to the best products and interest rates.
Checking your credit score will not have an effect on it. Requesting a copy of your credit report or checking your credit score is often called a “soft inquiry”. Potential lenders cannot see soft inquiries when they view your credit report. But, you may still see them on your report for 12 to 24 months.
If you missed a payment because of extenuating circumstances and you've brought account current, you could try to contact the creditor or send a goodwill letter and ask them to remove the late payment.
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.
How common is a 999 credit score? Most people won't have the top score of 999. But remember that any score that's classed as “excellent” by a credit reference agency will give you access to the best deals.