Focus on the basics to get 800+ credit score

Maintaining a good credit score is like taking good care of health, one way. You need this 3 digit number for nearly any new activity you want to initiate, be it taking out a home loan, buying a car, applying for credit cards, or cell phones.

Credit bureaus like Equifax, Experian, Transunion usually use the FICO credit scoring model to calculate your credit score based on 5 factors:

  1. Payment history- covers 35% of total score
  2. Total amount owed- 30% of total score
  3. Length of credit history- 15% of total score
  4. Types of credit used- 10% of total score
  5. Any form of new credit- 10% of total score.

There is a ranking of credit scores:

  • 300-579 is a very poor score; 580-669 is satisfactory; 670-739 is good and 740-799 is the best to hang onto.
  • What we are talking of is a credit score of 800 and above. It is said to be exceptionally good, which, with a little math we can all achieve.
  • When our credit score tends to get 750 and above, we must then take precautions, to defend that score from falling. It is not quite difficult to maintain a credit score above 800.

Let’s discuss the ways to obtain a good score.

It is better if we understand the calculation of the credit score accordingly.

To remember, you can not ricochet your credit score up in one day; it is a time taking process, where years of credit history goes into account.

Focus 1: Payment history

This covers the maximum percentage in evaluating your credit score. No matter whatever you do, if you don't make your debt payments regularly, it will always be hard to get a good score.

With delayed payments and swarms of late fees, your score will only go down.

If you have a very bad payment history of more than 4 or 5 years, then it will be very hard to pull your score back to a good point.

You will have to try out alternatives, like getting a credit builder loan or from now on being regular with your payments.

A general advice would be not to take out new lines of credit in case of bad payment history. It will be wise to first get done with all the existing outstanding debts.

Payment history covers 35% of total credit score. There’s no way to escape this part.

The only way to manage a good point is by going with the basic principle. You borrow money, you repay it on time. No tricks and no excuse.

Focus 2: Total amount owed

This is a crucial part. Your credit utilization ratio or debt to credit ratio will be used to give you a scoring.

If you have high balances with low credit limits, or have maxed out many credit accounts, then it is difficult to aim for that 800 credit score.

The easiest way to nail down this percentage is by paying off your debts within your fixed time limit.

This part covers your total amount owed to lenders, total unpaid balance on your revolving credit accounts, unpaid loans, and so on.

The only way to be a perfectionist at this part, is by not playing clever, and doing your payments on time.

Total amount owed accounts 30% of your total credit score. This is a huge section. Always try to keep credit utilization ratio below 30% for your credit cards.

Also go for credit cards with higher credit limits. Never miss out payments regarding any installment loan. This will prove your willingness to repay debts and mark as a goodwill for you.

Focus 3: Length of credit history

This accounts 15% of your total credit score. It takes into consideration your total credit history since the time you opened your first credit account.

A normal mistake people make is by closing the first credit card or an account opened for a long time. This wipes out the credit history of that account from your credit report.

It is highly unwise to do so.

If you have an account open for many years, it has a huge positive impact on your score. Your credit utilization ratio will be less if the credit limit is high and you usually have low balance on the card, which you repay at every billing cycle.

It is therefore always better to have your first credit card account open for subsequently long time.

*Usually a good rental history accounts the longest. Always see that your report shows your rental history if you have any for a long time. HELOC or your first big installment loan should also come as a perk.

Focus 4: Diversify your types of credit

This credit mix pens 10% of your total credit score. You must try to break your lines of credit. Having one loan or one credit card for a long time with positive payment history is good, but having multiple types of credit with good payment history, even for a shorter time, is better.

Any credit bureaus will look for your experience in diverse fields of credit.

If you want to take out an installment loan or a mortgage loan, your lender will search for your experience in repaying this type of credit. They would want to see a point of trust from your side.

This does not mean you will apply for every type of credit at once. It means instead of using 3 credit cards, use one card and apply for other suitable loans.

To get an above 800 credit score, you need to be intelligent in managing debts. The more variety of credit accounts with positive payment history are open, more will be your score.

Focus 5: Starting new credit

Any credit bureau will see recent credit accounts that you have opened. The time period for new credits to come into report is six months to one year.

Too many newly opened credit accounts in a short span of time will increase your risk factor.

Therefore, it is advised for taking your head into the 800 above credit score hub, choose which loans and credit cards you really require. Haphazard management in opening new accounts will damage your credit score to a huge extent.

Before opening new credit accounts, there will be a hard inquiry on your credit report. A hard inquiry is done by banks, credit unions or potential lenders while you try to apply for loans, mortgages or any other form of credit.

Hard inquires really works harsh on your credit score. The only way to avoid too many hard inquiries is by applying for credits smartly. Choose those that you can afford.

Your new credit types, hold in 10% of your credit score. Do your credit shopping wisely.


It is not tough to achieve an 800 above credit score. Always learn to manage multiple credits instead of one huge credit.

Try to sustain your accounts for a long time with positive feedbacks.

If you follow these minute calculations that are made in evaluating your credit score, you will not be far from living a headache free life with a credit score that will allow you best interest rates on loans or credit cards, in the future.

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