825 Credit Score (2024)

FAQs

825 Credit Score? ›

Your 825 FICO® Score is nearly perfect and will be seen as a sign of near-flawless credit management. Your likelihood of defaulting on your bills will be considered extremely low, and you can expect lenders to offer you their best deals, including the lowest-available interest rates.

An 825 credit score is often considered very good — or even excellent. A very good or excellent credit score can mean you're more likely to be approved for good offers and rates when it comes to mortgages, auto loans and credit cards with rewards and other perks.

What credit score do you need for a mortgage? To qualify for a mortgage, lenders typically look for a minimum credit score of 620 for conventional loans. However, some loan types, like FHA loans, may accept scores as low as 500 with a larger down payment.

Highlights: While older models of credit scores used to go as high as 900, you can no longer achieve a 900 credit score. The highest score you can receive today is 850. Anything above 800 is considered an excellent credit score.

According to a report by FICO, only 23% of the scorable population has a credit score of 800 or above.

In short, an 825 credit score puts you in the top tier of U.S. consumers in the eyes of lenders. In the widely used FICO credit scoring model, scores range from 300 to 850. The average credit score was 714 in 2021. Fewer than one-fourth of U.S. adults have credit scores of 800 or higher.

What credit score is needed to buy a $300K house? The required credit score to buy a $300K house typically ranges from 580 to 720 or higher, depending on the type of loan. For an FHA loan, the minimum credit score is usually around 580.

Conventional loan | Credit score: 620

To qualify for a conventional loan, you'll need a credit score of at least 620, though some lenders may choose to approve conventional mortgage applications only for borrowers with credit scores of 680 and up.

Has anyone gotten an 850 credit score? ›

Although a lot of people might like the idea of a perfect credit score, they'd likely have a hard time actually achieving it. In the U.S., only about 1.7 percent of the scorable population had a perfect 850 FICO credit score in April 2023, according to FICO data.

Your credit score is a major factor in whether you'll be approved for a car loan. Some lenders use specialized credit scores, such as a FICO Auto Score. In general, you'll need at least prime credit, meaning a credit score of 661 or up, to get a loan at a good interest rate.

Keep your credit utilization rate low

Experts suggest using no more than 30% of your available credit — the lower the better. Strive for a 1% percent utilization if you want an 850 credit score.

Maintain a consistent payment history

Consistently paying back debt can be the best way to raise your credit, but it takes time. Speaking of time, make sure you pay your bills on time. Create a pattern of consistency that you can show to lenders, and you will start to see your credit rise over time.

How many Americans have an 850 credit score? Only 1.31% of Americans with a FICO® Score have a perfect 850 credit score. While a score this high is rare among any demographic, older generations are more likely to have perfect credit. Baby boomers make up a whopping 59.4% of the people with an 850 credit score.

You'll qualify for lower interest rates and higher credit limits. With an 800-plus credit score, lenders can offer you better deals. This is true whether you're getting a mortgage, an auto loan, or trying to score a better interest rate on your credit card.

A perfect credit score of 850 is hard to get, but an excellent credit score is more achievable. If you want to get the best credit cards, mortgages and competitive loan rates — which can save you money over time — excellent credit can help you qualify. “Excellent” is the highest tier of credit scores you can have.