Q:

How do you achieve an 800 credit score?

A:

Quick Answer

According to American Consumer Credit Counseling, people who want to achieve an 800 credit score should pay each and every one of their bills on time and not reach their credit limit. They should also always spend within their means, build a solid credit history and not apply for too many credit cards.

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Full Answer

According to Daniel Bortz for U.S. News & World Report, achieving an 800 credit score may take years and substantial work to maintain. However, one way to keep an 800-plus score is to keep credit accounts open, even if they have not been used lately, for a lower credit-to-debt ratio.

Payment history constitutes about 35 percent of a credit score, and American Consumer Credit Counseling points out that every bill is significant when it comes to an 800 credit score. Being late on even the seemingly smallest and most insignificant bill can mean not reaching 800. For an 800 credit score, people should use no more one-third of their credit limits, with the ideal being no more than 10 percent. Debt is about 30 percent of a credit score. It is also important for people to avoid running a lot of credit inquiries close together. Credit card account applications can make up 10 percent of a credit score.

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