Of course it is possible to have an 800+ score, many people do. Below we’re going to give you the basics of what it takes to have a score that high. 

As you can imagine, these are mostly based on the same five factors we’ve been talking about throughout this series of emails. The only one that’s different is the inquiries. You can get away with a few of those if your other factors are in line.

Payment History - Without a perfect payment history, meaning not having a single late payment, it is difficult, to impossible to have an 800+ score. Even one late payment makes this tricky because it takes 7 years for that to drop off.

Credit Utilization Ratio - If you can keep this between 2%-9% you’ve got a shot at getting that score up there. The lower number here, the better.

Age of your accounts - You want your average age of accounts here to be at least 5+ years. You can have newer accounts, but you’ll need older ones to balance those and keep that average at least five years old.

Number of accounts - You should have at least ten open accounts. 

Credit Mix - Here you’re going to want to have at least one open loan. A credit builder loan won’t cut it here. It would need to be something bigger like an auto/boat/rv loan, home loan, or some other larger purchase loan.

Not everyone can easily get an 800+ score and it can take many years to get there, especially if you’re starting fresh. We’ll talk more about this in the next email so keep an eye out for it!

Sincerely,