What Can an 800 Credit Score Get You?

A credit score of 800 or higher is a sign of exceptional creditworthiness. People with this rating are likely to be approved for loans, mortgages, and other lines of credit. Not only will lenders be eager to lend money to someone with a near-perfect credit score, but the terms of the loan will often be more favorable than those offered to people with lower scores. Having a credit score of 800 can bring many benefits to your financial, personal, and work life.

With an excellent credit score, you'll qualify for the best credit products and can save money on interest rates and insurance. If you already have a loan, you may be able to refinance at a better rate now that you have a high credit score. You may also be able to request an increase in your line of credit from your credit card issuer. A credit score of 800 will usually get you the best available interest rate if you are approved for a loan.

Refinancing at a lower interest rate can be a great financial decision, so don't assume you're stuck with the interest rate you earned when your credit rating was lower. A secured credit card is another option for people with an 800 credit score. With this type of card, you make a deposit before you can use it and your credit limit is set to the amount of the deposit. If you live in a state that allows credit-based insurance, having an 800 credit score could give you a discount on your home or auto insurance premiums.

A very good rating is no cause for alarm, but staying in the exceptional range can mean better chances of passing the best credit offers. Credit scores drop a small amount when that happens, but they usually recover in a few months as long as you keep up with all your payments. People with credit scores of 800 and 850 are equally likely to fail to meet their financial obligations. It's also important to review your credit reports with the three major bureaus (Equifax, Experian, and TransUnion). In short, having an 800 credit score means that you are the ideal responsible consumer, financially savvy, and unlikely to default on your debts. In addition to receiving all the benefits of having good credit, there are some additional 800 credit score benefits you should be aware of.

If your credit card issuer participates, you can check your score when you log in to your online account or it will be included in your monthly statement (or both). Most people with 800+ credit scores pay their balances in full each month according to FICO.

Jeffery Sheinbein
Jeffery Sheinbein

Hipster-friendly food specialist. Certified pop culture geek. Certified music aficionado.