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Image source: Getty Images. The average credit score in the U.S. was 715 in 2023, according to Experian, one of three credit reporting bureaus. But a score of 800 or above is considered "exceptional."
Lenders contend that widespread use of credit scores has made credit more widely available and less expensive for many consumers. [2] [3] Under the Dodd-Frank Act passed in 2010, a consumer is entitled to receive a free report of the specific credit score used if they are denied a loan, credit card or insurance due to their credit score. [4]
But according to Experian data captured as 2023 came to a close, nearly 22% of consumers have a FICO Score in the highest credit score range—800 to 850. Consumers with scores in this range are ...
Key takeaways. A credit score of 800 or above is considered excellent and comes with the same benefits as a perfect 850 score. Benefits of an 800 credit score include better credit offers, lower ...
FICO scores are based on credit reports and "base" FICO scores range from 300 to 850, [3] while industry-specific scores range from 250 to 900. [11] Lenders use the scores to gauge a potential borrower's creditworthiness. [12] Fannie Mae and Freddie Mac first began using FICO scores to help determine which American consumers qualified for ...
Getting your credit score above 800 earns you elite status. Just 21% of consumers have a credit score of 800 or above, according to Experian. An 800 credit score means you’ll qualify for the ...
Getting your credit score to 800 could do your finances a world of good. Read on to see why.
So, while getting an 850 credit score is difficult, a score above 800 seems like a more achievable goal. ... However, don’t spend too much energy (or money) trying to earn an 850 credit score ...