Is 836 a good credit score?
Absolutely! An 836 credit score is considered exceptional, placing you among the top 21% of consumers nationwide. This stellar score opens doors to the most favorable loan terms, credit card offers, and insurance rates.
What does an 836 credit score get you?
- Access to the best financial products: With an 836 credit score, you’re practically guaranteed approval for any credit card, personal loan, or mortgage. You’ll also qualify for the lowest interest rates and most generous rewards programs.
- Highly competitive insurance rates: Your exceptional credit score translates to lower premiums on car, home, and other insurance policies.
- Favorable terms on rent and utilities: Some landlords and utility companies offer discounts or better terms to individuals with high credit scores.
How to get an 836 credit score:
- Pay your bills on time, every time: This is the single most important factor in building a good credit score. Even a single late payment can significantly impact your score.
- Keep your credit utilization low: Ideally, you should aim to keep your credit card balances below 30% of your available credit limit.
- Check your credit reports regularly: Make sure there are no errors on your credit reports that could be dragging your score down. You can get free copies of your credit reports from each of the three major credit bureaus (Experian, Equifax, and TransUnion) once a year at AnnualCreditReport.com.
- Dispute any errors you find: If you find any errors on your credit reports, contact the credit bureau and dispute them. You can do this online, by mail, or by phone.
- Build a long credit history: The longer your credit history, the better your credit score will be. If you’re young, start building your credit history by opening a secured credit card and using it responsibly.
Do you need an 850 credit score?
Although an 850 credit score is the highest possible, it’s crucial to keep in mind that the advantages of having an 850 credit score are the same as those of an 836 credit score. With either score, you’ll be eligible for the same competitive interest rates and extensive rewards programs. So, don’t stress about trying to reach that perfect 850. Your 836 credit score is already amazing!.
Here are some additional tips for maintaining a high credit score:
- Only apply for new credit when you need it: Every time you apply for new credit, a hard inquiry is placed on your credit report. Too many hard inquiries in a short period of time can lower your score.
- Become an authorized user on a responsible friend or family member’s credit card: This can help you build your credit history without having to open your own credit card.
- Keep your credit accounts open: The longer you have your credit accounts open, the better your credit score will be. Only close accounts that you no longer use and that have a zero balance.
By following these tips, you can keep your 836 credit score high and enjoy all the benefits that come with it.
Remember, your credit score is a reflection of your financial responsibility. Because a high credit score demonstrates to lenders that you are a low-risk borrower, you can get the best terms and interest rates.
So, keep up the good work and enjoy the rewards of your exceptional credit score!
What’s the best credit score to have?
It might be exciting to aim for 850, the highest possible FICO score, but it really comes with no additional benefits. According to credit expert John Ulzheimer, a 760 will get you the best mortgage rate and a 720 score is all you need for the best interest rate for an auto loan.
“I always tell people, shoot for 760 or better,” Ulzheimer told CNBC Select. “That way, theyre safe for all loan types and cards. “.
Even FICO says not to stress about perfection
“From the standpoint of qualifying for credit, it doesnt matter whether you have a perfect 850 or a score just below that,” said Ethan Dornhelm, VP of FICO Scores and predictive analytics. “To lenders, a consumer with a score in the 800s is a sparkling applicant.”
What a good credit score can get you
FICO scores are grouped into broad categories.
- 580-669: Fair
- 670-739: Good
- 740-799: Very good
- 800-850: Excellent
Over time, the average FICO score has increased steadily, reaching an all-time high of 718 in October 2023. A 760 is considered “very good” credit, along with anything above 739.
How I Got My 836 Credit Score – And You Can, Too
FAQ
Does anyone have an 850 credit score?
How many people have 830 credit score?
How common is a credit score over 800?
What is excellent credit score?
What does an 836 credit score mean?
An 836 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. This is because a high credit score may indicate that you’re less risky to lend to.
What is a 836 credit utilization ratio?
Your credit utilization ratio is the amount of credit you’re using compared to your available credit limit. Keeping your credit utilization low is crucial in achieving an 836 credit score. Ideally, your credit utilization should be below 30%. For instance, if your credit limit is $10,000, try not to use more than $3,000.
What credit score do you need for a personal loan?
Most personal loan lenders will approve you for a loan with an 836 credit score. In fact, you will likely qualify for the best loan rates available. However, keep in mind that your credit score is just one factor that lenders consider when deciding whether to approve your loan application.
What is the highest credit score you can have?
The highest score you can have on the most widely used scales is 850. According to data from FICO, about 1.7% of all FICO scores were at the coveted 850 as of April 2023. And even if you do get there, the fluctuating nature of credit scores means you’re unlikely to keep it month after month.