How 100,000 borrowers got a credit score of over 800

A FICO credit score of 800 or higher is not only good, but is considered exceptional and can open financial doors for consumers. But what does it take to build up this credit rating?


Analysts at LendingTree, an online credit marketplace, examined the credit reports of more than 100,000 LendingTree users to provide insight into the type of effort required to earn credit points of 800 or higher. It’s no surprise that those with exceptional creditworthiness have solid habits, including paying their bills on time every month.

Interestingly, A credit score of 800 is a good goal, but not essential for most loans. “Generally, when your FICO score hits 750 or 760, you are getting the best terms on most of the loans you apply for,” said Matt Schulz, senior credit analyst, LendingTree. “At this point, an 800 credit is really little more than gravy.”

Here are the key takeaways from the report:

  • People with a credit score of 800 or higher pay their bills on time every month. This is in line with payment history, which is the most important factor in determining creditworthiness. In comparison, residents of the 100 largest US metropolises have an average of six late payments in their credit history.
  • The average credit limits for those with a credit score greater than 800 have dropped dramatically since 2019. The average credit limit for these consumers is $ 58,514, compared to $ 71,353 when LendingTree researchers last analyzed the topic. Baby boomers have the highest average limits.
  • Consumers only use part of their credit limit each month. The average credit utilization rate for people with a credit score of 800 or higher is 5.7%. In contrast, people in the 100 largest US metropolises tend to keep their occupancy between 16% and 33%.
  • The oldest active account for those above 80o averages over nearly three decades. Those with a score of 800 or higher have had an open account for more than 27 years on average, although many younger consumers have high scores.
  • Consumers with credit ratings over 800 have an average debt in the six figures. They have an average debt of $ 138,154 with average monthly payments of $ 1,064. Average debt is highest among Generation X, the generation of Americans born between the mid-1960s and early 1980s.

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