Finances (US)

Is it possible to get an excellent credit scores range?

Do you want to know how to get to an excellent credit scores range? If so, read our post to find out and learn more about your credit score!

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by Victória Lourenço

Published on 09/08/2022

Learn all about credit scores and how to get to an excellent credit scores range!

Learn how to get an excellent credit score! Source: Adobe Stock.
Learn how to get an excellent credit score! Source: Adobe Stock.

Is it possible to achieve an excellent credit scores range? Yes, it is possible to get a high credit score, but what qualifies as an excellent credit score varies depending on the scoring system and other factors.

Also, when you’re looking for a loan or a credit card, the first thing that lenders or companies will look at is your score. This number can tell them a lot about how much of a risk you are as a borrower.

ClearScore

ClearScore review: learn more about your score

If you're a British person interested in keeping track of your score, you'll find great use of our post with a ClearScore review. So, read on!

So, you are probably looking for ways to understand more about your score and how to improve it to get better loan deals. Also, your credit score can even affect your ability to rent a house or get a mortgage!

Therefore, it is crucial to have a high credit score if you want the best prices and conditions.

So, if you want to know what is an excellent credit scores range and how to improve your score, keep reading our post!

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What is an excellent credit scores range?

The likelihood of loan repayment is reflected in a person’s credit score. If your credit score is good, lenders will perceive you as a safe borrower and may offer you a better interest rate.

If your score is poor, you may have trouble getting a loan or may be charged a higher interest rate if you do. So, what is an excellent credit score range?

To some extent, the reply might be conditional on the person being queried.

There are different types of credit scores, but the most common one is the FICO® Score.

According to the FICO® Score, an excellent credit score range is 750-850. However, other sources say that an excellent credit score range is 720-850.

And still, others say that an excellent credit score can be anything above 700.

If you’re using a different scoring model, an excellent credit score range for you could be slightly different.

That said, an excellent credit score range is generally considered to be anything in the upper tier of the scoring scale. For most people, this means a score of 750 or above.

If you’re looking to achieve an excellent credit score range, there are a few things you can do. And we’ll talk about them in this post!

So, it’s clear that there’s no one correct answer to the question of what constitutes an outstanding credit score range.

Maintaining a good credit score is crucial for qualifying for the best rates and conditions on credit cards and loans.

What credit score level is enough?

Which credit score range are you in right now? Source: Adobe Stock.
Which credit score range are you in right now? Source: Adobe Stock.

When applying for a loan or a new line of credit, it is crucial to have a good credit score.

But at what point does one consider their credit score to be acceptable or excellent?

The answer to this question depends on your financial needs and goals. As we mentioned, excellent credit scores range from 720 to 850.

However, if you’re just looking to get approved for a basic credit card, you may only need a score of 620.

The bottom line is that the higher your credit score, the better your chances of being approved for loans. And you can get favorable interest rates and terms.

So if you’re serious about borrowing money, it’s worth investigating ways to improve your credit score.

There are many different resources available online that can help you understand the basics of credit scoring and how to improve your score.

Assuring that your credit score is good enough to help you achieve your financial objectives takes some work, but it’s well worth the effort.

What can an excellent credit scores range get you?

An excellent credit scores range can get you a lot! With an excellent credit score, you’ll likely be approved for loans and credit cards with the best terms and lowest interest rates.

This can save you hundreds or even thousands of dollars over the life of a loan. You may also qualify for exclusive rewards programs and perks. For example, travel insurance and concierge service.

In addition, excellent credit can help you rent an apartment, get a cell phone plan, and even land a job.

So, if you’re looking to save money or improve your lifestyle, an excellent credit scores range is a great place to start.

Are excellent credit scores rare?

You can be one of the happy Americans with an excellent credit score! Source: Adobe Stock.
You can be one of the happy Americans with an excellent credit score! Source: Adobe Stock.

Only around 1 in 6 Americans have a FICO credit score of 800 or above. Borrowers with FICO scores in the middle 700s tend to receive the most favorable terms and prices from lenders.

However, there are certain consistent characteristics among borrowers with 800+ FICO scores.

One of the main things people with excellent scores do is keep track of their credit utilization ratio.

For example, Those with a FICO score between 750 and 799 use 10% of their available credit, while those with a score of 800 or higher use only 4%.

Moreover, we prepared some tips for you to follow and start increasing your score to get the best loan and credit card deals. So, keep reading to find out!

Tips for you to increase your score!

Would you like to learn how to quickly and easily increase your credit score? Here are a few simple tips that can help.

A necessary first step is prompt payment of all bills. Keeping up with your expenses is crucial since it accounts for 35% of your credit score.

Second, strive to maintain low balances at all times. The more debt you have, the worse your credit score will be, so it’s crucial to keep it under control.

Finally, make wise use of credit cards. The credit score can rise if you utilize them responsibly and don’t charge more than you can afford to repay.

Now that you know more about what people with excellent credit scores do, you can have an idea of how to manage your finances.

You follow these tips, and you’ll be on your way to an excellent credit scores range in no time!

Use a credit monitor to keep an eye on your credit reports: check OneScore app!

If you’re willing to get into the excellent credit scores range, you’ll need to keep track of your credit score. Sometimes, our credit reports have errors that can damage our credit score for no real reason.

It is always good to see the good hard work paying back. So, keep track of your credit performance with a credit monitoring app.

OneScore is a good option! With this app, you can track your credit score and get useful tips. Read the full review about it on the following link to see how it can help you on your credit score building journey.

onescore

OneScore review: check your credit score for free!

Are you looking to improve your credit score? If so, read our OneScore review to learn more about this app that allows you to check your score for free!

About the author

Victória Lourenço

Victória Lourenço is part of the finance writer team for The Mister Finance website. She is a translator and copywriter, having worked on finance topics for over four years. She has a goal to keep studying finances to help people learn more about how to use their credit cards, make loans, and use other money-related products in a way that they can find a more meaningful and healthy financial life!

Reviewed by

Aline Barbosa

Senior Editor

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