How to increase credit score to 800?

Written by Magazine Buzz Desk · 2 min read >
How to increase credit score to 800

It is good to have a credit score of more than 800 as it provides a lot of advantages. In this article, we have provided all the basic info you should know about credit scores or the importance of having a credit score above 800. A good credit score is important for you because it is a way to know about your responsibility toward your duties. Only about 23 percent of customers of FICO have a credit score above 800 or more. We also have mentioned the tips you should follow to have a credit score of more than 800. If you want to know how to increase credit score to 800, then read the following guide.

Benefits of having higher credit scores:

Lenders not only focus on your credit score they also check your history (your dealing with other people, your past credit details, and also your payment history), to check how responsible you are. Nothing is impossible, if your credit score is not too good then you have to make an effort to bring it to the top (more than 800). It is very beneficial to have a credit score of more than 800 because has a number of advantages, some top benefits of having a high credit score are:

  1. Provide you a chance to get a large amount of credit
  2. Low-interest rates
  3. More Chances of credit approval
  4. Best credit deals /offers
  5. May get better rates for insurance on your car

Low rates of interest:

As the lenders have already checked your payments record so they provide you the best chance to save thousands of dollars whenever you are purchasing a car, or taking a personal loan. You have to pay low-interest rates.

Chances to get a large amount of credit:

If your older credit records are excellent and also your score is above 800 then keeping in mind your older record of credit payment, the lenders can provide you larger amounts of credit just because of your responsible behavior toward your work. It provides you with a chance to invest more.

Best credit offers:

If your credit score is more than 800 then you are provided the best credit offers as you are in the topmost customers. These special and best credit offers save you hundreds of dollars.

Credit score ranges for FICO:

There are different ranges for FICO but the general point ranges for FICO credit scores are:

  • 670-739 Good
  • 740-799 Very good
  • 800+ exceptional

Factors that affect your credit score:

There are some factors that affect your credit score, so focus on the following factors if you want to increase your credit score to 800 or more.

  • The most important factor is your payment history (e.g. bill paying history).
  • You should contribute to emergency funds.
  • Keep your credit utilization ratio low
  • Length of credit history (so clear your credits as soon as possible)

Tips for how to increase credit score to 800:

If you are one of those who want to increase their credit ratio but are not aware of how to do this, then the following tips must be helpful to you. You must follow the given tips in order to boost your credit score to 800 or more.

  1. The most important tip is to clear your payments on time (always pay your bills on time, and every time pay your bills before the due date).
  2. You should check your credit score if you are thinking to have a loan or insurance. And try to increase it by remembering the factors responsible for it.
  3. If your score is high then you should avoid applying for new credits even if they are available.

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