What is an excellent credit score?

FICO says scores of 800 or above on a credit-scoring range of 300 to 850 are considered excellent. But what counts as excellent can vary—in part because people can have multiple credit scores. Also, decisions about loan approvals and terms are ultimately up to individual lenders. So what one lender considers excellent may not be the same as another. 

But in general, the better your credit scores, the better your chances of being approved to do things like borrow money or get a credit card. But how do you get excellent credit scores? And how can you find out where your credit scores stand?

What you’ll learn:

• What counts as an excellent credit score depends on the scoring model and company. 

• FICO calls its highest category “exceptional,” and VantageScore calls its “superprime.”

• An excellent credit score can help borrowers qualify for better loan terms and interest rates.

• You can build an excellent credit score by using credit responsibly, which means doing things like paying bills on time and applying only for the credit you need.

Credit-scoring company FICO calls its highest scores exceptional. And these include scores between 800 and 850 on a scale of 300-850.

VantageScore calls its highest scores superprime. On a scale of 300-850, superprime scores fall between 781 and 850.

Higher credit scores can help you qualify for loans and credit cards with better terms and lower interest rates. 

Higher scores can also lead to things like higher credit limits and lower insurance premiums. And they can even be the deciding factor in qualifying for a new apartment or landing a job.

There are several factors that can affect your credit scores. And different factors may have varying degrees of impact. Here are the factors FICO uses to calculate its credit scores.

• Payment history: 35%

• Credit utilization, or the total amount of credit owed: 30%

• Length of credit history: 15% 

• Credit mix: 10%

• New credit applications: 10%

Lenders and creditors typically report credit activity to the three major credit bureaus every 30-45 days. These bureaus, Equifax®, Experian® and TransUnion®, then update credit information in credit reports. Not all lenders report to all three of the main national bureaus. Some might report to two, one or none. 

How long each item stays on credit reports depends on the type of information. For example, hard credit inquiries can stay on reports for up to two years. A late payment could stay on credit reports for up to seven years. And bankruptcy could stay on reports for up to 10 years.

Credit reports also usually contain personal information like a person’s name, address and employer. If anything changes, you can typically update individual lenders and creditors, who should then pass it on to the credit bureaus. 

Errors on credit reports can potentially lower your credit scores, but you can dispute them. That’s why regularly monitoring your credit can be helpful.

There are many ways to access your credit scores—some free, some not. The Consumer Financial Protection Bureau says credit card issuers, credit counselors and credit-scoring companies are options. 

You can also use a tool like CreditWise from Capital One. It’s free for everyone, and checking your credit scores and report won’t hurt your credit.

To build and maintain excellent credit scores, you need to use your credit accounts responsibly over time. Here are some ways to do that.

1. Pay your bills on time. Your payment history is an important factor used to calculate your credit scores. Late or missed payments can reduce your credit scores. But setting up reminders or automatic payments can help you remember to make on-time payments.

2. Keep credit utilization low. Credit utilization refers to the amount of credit you use compared with your total available limit. The CFPB says to keep your credit utilization ratio below 30%. 

3. Have a healthy credit mix. A diverse credit mix indicates you can manage and maintain revolving credit accounts and installment loans.

4. Keep accounts open and in good standing. Having a long and positive credit history suggests you can manage credit responsibly.

5. Only apply for the credit you need. If you apply for multiple lines of credit over a short period, lenders may think your financial situation has worsened. Plus, the hard inquiries from your applications can temporarily hurt your credit.

6. Monitor your credit reports. Mistakes in your credit reports could negatively affect your credit scores, so monitoring your credit is important. You can sign up for CreditWise, which checks your credit report from two bureaus.

Learn more about excellent credit scores with answers to these common questions.

FICO says scores 800 and above are exceptional. VantageScore says scores above 780 are superprime, its highest-scoring category.

So if you’re looking to improve your credit, these tips could help. And for help keeping an eye on your credit, you can check out CreditWise. It’s free to use and won’t hurt your credit—no matter how often you use it.

Looking for your next credit card?

• Check for pre-approval offers with no risk to your credit score.

• Earn unlimited 1.5% cash back on every purchase, every day with a cash-back credit card.

• Explore Capital One’s credit cards for building credit with responsible use.