850 Credit Score: Is Perfection Possible?

It’s that time once again, to look a one very specific credit score.

Today, it’s the highly elusive “850 credit score.”

I liken 850 credit scores to endangered species, as you’d be lucky to see one even in a zoo.

That’s how hard it is to attain an 850 credit score, at least with regard to the traditional Fico score model.

As always, we need to apply the proper credit score scale, which in the case of the mighty Fico, would be the highest credit score possible.

You Don’t Have an 850 Fico Score

So let’s just assume you probably don’t have an 850 Fico score, even though you may want one very badly. Why, I’m not sure, but there seems to be a certain crowd that wants to achieve credit score nirvana.

Unfortunately, in order to get a 850 Fico score, which is obviously a truly excellent credit score, you need to have deep and long positive credit history.

In other words, it just takes time, lots of time, so there’s very little control over it. And during that time, you’ve got to be flawless.  We’re talking zero missed payments, a great mix of credit (credit cards, auto loans, mortgages, etc.), very few credit inquiries, low or zero balances, plenty of free credit, and so on.

Yep, just one slip up and you’re screwed on the 850 Fico score front, even if it happened years ago. Of course, it doesn’t really matter.  Once you’re Fico score is above 760, there’s very little upside.

Most creditors will approve anyone for a loan or a credit card once their Fico score is north of 720, and pricing incentives stop around 760, so an 850 Fico score is really no better than one around that level.

The only frill is bragging rights. This isn’t to say that one shouldn’t shoot for the stars, it just means there’s no point to fixate on such a high number. It just won’t do you any real good. And you should have better things to do with your life.

850 VantageScore Isn’t Even That Great

With regards to the lesser relied upon VantageScore, an 850 credit score would be a good credit score, but not the best, which is 990.

You’d be right smack in the middle of their “B” bucket, which as we all know from school days, is good, but not great. It’s lackluster at best.

So if we’re talking Fico scores, give yourself a pat on the back and brag to friends and family. They probably won’t believe you, but you can still pretend.

If we’re talking VantageScore, your 850 credit score could definitely be improved (how to improve your credit score).

Perhaps work on paying down outstanding balances and comb your credit report for any possible mistakes. It could be that there’s nothing negative on your credit report, just limited credit history. If that’s the case, be patient and practice good credit scoring habits until you snag that sought after “A” letter credit grade.

In either case, credit score monitoring is probably not necessary, as an 850 credit score implies you’re in good shape.

(photo: Marcin Wichary)