A credit rating of 900 is not possible or not very relevant. The number you should focus on is 800. In the standard 300-850 range used by FICO and VantageScore, a credit rating of more than 800 is considered “perfect.” This is because higher scores won't save you money. Your credit rating may be adversely affected by other financial decisions you make or by activities or services you participate in with other financial services organizations.
When you apply for new credit, you are not told what that particular lender's exact cut-off point is between a good and a bad credit rating. A good credit score can help you get approved for attractive rates and terms when you apply for a loan. Scoring is the gold standard used by financial institutions to decide whether to lend money or issue a credit card to consumers. FICO creates industry-specific credit rating models tailored to certain credit products, such as credit cards, car loans, and mortgage loans.
Also, if you have some negative ratings on your credit report that are holding you back from level 850, one of the best credit repair companies could help, as long as you're willing to pay a fee. If you're wondering how important it is to earn and maintain a good credit score, the short answer is very. When you have a strong credit score, your interest rates will be lower when you apply for personal loans, credit cards, mortgages, and car loans. The length of credit history counts at 15%, and a combination of accounts and new credit inquiries are taken into account at 10% each.
Like FICO scores, the higher your credit score on the VantageScore scale, the lower the risk it poses to lenders. Your credit score is often the first thing landlords look at when reviewing rental applications. There's no such thing as a perfect credit score, but you can always work to improve your credit and make it as high as possible. Although the above FICO and VantageScore charts show a general idea of how lenders can interpret different credit rating ranges, lenders and other companies may, and often do, differ in their views on creditworthiness.
You may have been able to check your credit score lately using a number of free services, including those from your bank or mortgage lender. FICO only reports, based on its statistics, that people with a lower score have defaulted on their loans more than those with a higher score.