What's considered a really good credit score?

Question

Mine are 760, 780, 790. How do I join the 800 club?? I have 3 credit cards with no balances (pay them off every month) and a car loan, and recently sold a house to pay off mortgage. Is this just a waiting game now to see it go up? Is there really any more that I can do?

Answer 1

no and as to 800 very rare I have about 2  a year in the mortgage industry.

Answer 2

If you are in the mid to high 700s that is considered a really good score, and if you're in that ballpark there's really no significant difference between that and being in the 800s.  However, there's no point to having lines of credit open if you're not using them. Especially if they have very high credit limits on them and zero balances. The Fair Issacs Company will always view this as a potential liability issue because they know you can go out and rack up massive debts on those cards at any time. To push your credit rating higher you have to show them that you are very financially responsible and that you can manage your financial obligations without going into heavy debt. So, you want to use each of those credit cards at least every couple months and leave tiny balances on them from time to time (like less than a couple hundred dollars). Use them for things that you can pay off easily and quickly, like gas purchases or to buy an outfit or cheap stuff, then zero out the balances at least every three months or so. Once the banks keep seeing that you are on top of your game they will keep reporting you to the credit bureaus as a top flight customer, and that will cause your credit rating to go up. They also look at what you're using the credit card to buy (yes they REALLY do). They especially love it when they see things like travel and luxury items because then they know you're a person of leisure and one who can afford stuff---the type of customer that EVERY credit card company wants to have. You know you're getting up there when the same credit card companies you're now with begin sending you applications to upgrade to their 'exclusive' gold and platinum brand cards.

Answer 3

I have made it up to 818 but if you are above 720 your are considered excellent.  So going up to 800 doesn't really matter.  You are already in the excellent range.  Those who score within this range have the easiest time obtaining loans, and get the best rates.