You don’t need the highest possible credit score (850) to have perfect credit, as a perfect credit score is technically 800+. Once you reach this point, improving your credit score further will no longer save you more money or give you more opportunities.
See if You Have Perfect Credit – 100% Free
More than 20% of people can rightfully think of themselves as having perfect credit scores, according to WalletHub and Experian data. Plus, everyone with excellent credit (750+) is within shouting distance. Some experts even say that perfect credit begins at 751, though our research into credit card approval rates indicates the bar is a bit higher.
Key Things to Know About Perfect Credit
- Perfect credit is any credit score above 799, as such scores tend to get you the best approval odds and interest rates.
- There are no credit card offers specifically for people with an 850 credit score, as creditors don’t design products for such a small segment of people.
- The average effective interest rate for general-purpose credit cards among all consumers is around 17%, according to the Consumer Financial Protection Bureau, and it’s 9% for people with an 800+ credit score.
- Only 1.76% of people have an 850 credit score, according to Experian.
Who Has a Perfect Credit Score?
Many more people have perfect credit than you may think. You can see the breakdown of the exact percentages below.
Source: Experian
You can see if you’re part of the perfect-credit crew by checking your latest credit score for free on WalletHub. You can also consider how the rest of your financial profile aligns with some common characteristics of people with perfect credit.
People with perfect credit tend to share similar traits, such as keeping a low credit utilization ratio and avoiding going delinquent on their credit accounts. These traits help them have high approval odds and get the best interest rates on credit cards and loans.
Common Traits of People With Perfect Credit (800+ Credit Score)
- They have an average of 4.6 credit cards, compared to an average of 3.6 cards among all consumers.
- Their average credit card balance is $3,984, while the average for all consumers is $6,618.
- Their average credit utilization ratio is 6%, while it’s 28% for all consumers.
- Consumers with an 800+ credit score typically have no delinquent accounts on their credit report. The average among all consumers is about one.
Below, you can learn more about why you don’t need a credit score of 850 to have perfect credit, plus what you can do to build a perfect credit score.
Why Perfect Credit Doesn’t Demand Perfection
Less than 2% of people have a credit score of 850, according to Experian. And it simply wouldn’t make much business sense for financial institutions to create special products for such a small target market. So they don’t.
After all, when was the last time you saw a credit card “for people with perfect credit”? Never. Instead, you see offers for people with excellent credit. But if there isn’t one perfect credit score, where do you draw the line? Where does excellent credit end and perfect credit begin?
What Counts as a Perfect Credit Score?
A credit score of 800 or above definitely counts as perfect credit, and for some lenders, anything above 750 counts, too. The reason is that once you surpass 750 or 799, you get to the point where a higher credit score stops rewarding you with additional savings.
“Many lenders consider anyone with scores above 750 as being almost completely void of credit risk,” said credit expert John Ulzheimer. “There’s little incremental value in having an 850 over having a 750, as you’re likely going to get the best treatment in either scenario.”
In other words, a score above 750 is generally good enough for you to get the best terms on your credit cards, loans and insurance premiums. But you should shoot for 800 just to be safe. Anything beyond that is good for little more than bragging rights.
Good vs. Perfect Credit
A good credit score and a perfect credit score can both provide you with high approval odds and better interest rates on credit cards and loans compared to someone with bad or fair credit. However, there are some important distinctions between these two credit ratings. The table below details the differences between good and perfect credit.
| Category | Good | Perfect |
| Credit Score | 700 - 749 | 800 - 850 |
| Percent of Population | ~27% | 23% |
| Average Effective Credit Card Interest Rate | 15% | 9% |
| Popular Credit Card Offer | Capital One Venture Rewards Credit Card | Chase Sapphire Reserve® |
Learn more about the different credit score tiers.
How to Get a Perfect Credit Score
The process of perfecting your credit score is very similar to simply building a good credit score from scratch. You need positive information flowing into your credit reports on a monthly basis, and the easiest way to accomplish that is to use a credit card responsibly.
In addition, there are a few extra things you can do to push your credit score into perfect territory once you’ve reached good or excellent credit.
Pay Twice a Month
Paying loan and credit card bills on time every month is one of the easiest ways to help your credit score. And failing to do so is one of the easiest ways to hamper credit-improvement efforts. So one on-time payment per month should already be in your plans. But doubling up can pay big dividends by helping to reduce your credit utilization ratio.
Credit utilization is calculated for each of your credit card accounts, based on the spending limit and the balance listed on your monthly statement. Paying your bill early enables you to reduce your statement balance and thus your credit utilization. Paying again in the same month ensures you won’t be charged interest for purchases made between your first payment and the end of the billing period.
Maximize Your Available Credit
The more credit you have at your disposal, the better it generally is for your credit score. There are a few ways to increase the amount of credit you have available. These include:
- Reducing the amount you spend on your credit card.
- Becoming an authorized user on a family member’s credit card account, assuming they have good or excellent credit.
- Requesting a higher credit limit on your existing credit cards.
- Applying for a new credit card.
Those last two things may lead to a short-term drop in your credit score, given the hard inquiry that results in both situations. But they should lead to long-term gains if used responsibly.
Don’t Close Unused Credit Cards
When you close unused credit card accounts, you may shorten the average length of your credit history and increase your credit utilization ratio. Neither of these outcomes is helpful when you’re trying to achieve perfect credit. The length of your credit history and your credit utilization ratio are both used to determine your credit score, and they should collectively show lenders that you have a long history of managing borrowed money responsibly.
To put yourself in the best position to reach a perfect credit score, you should keep accounts open by making small purchases and paying them off in full every month, and keep your credit utilization ratio below 10%.
Check Your Credit Analysis
The credit analysis page of your free WalletHub account provides a letter grade for each component of your credit score as well as personalized credit-improvement advice based on your biggest weaknesses. You’ll also be able to watch your credit score improve over time, as WalletHub offers free credit scores and reports that are updated daily. That means you’ll know as soon as you have a perfect credit score, too.
For more tips and tricks, check out WalletHub’s complete guide on how to improve your credit score.
Ask the Experts: Getting to Know the Near-Perfect-Credit Crowd
For a more intimate look at what it’s like to have perfect credit, we posed the following questions to a panel of people who either currently have or have previously attained an 850 credit score. Hopefully you can pick up some pointers that will take your credit standing to the next level.
- Is a perfect credit score a goal of yours? Why or why not?
- How often do you check your credit score?
- What is the best tip you would give someone trying to build good credit?
Ask the Experts
(822 credit score), Owner, Skyline Pet Care Austin
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(834 credit score), Life Insurance Marketing Agent, Ogletree Financial
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(841 credit score), Media Relations Manager, ClearPoint Credit Counseling Solutions
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WalletHub experts are widely quoted. Contact our media team to schedule an interview.