Having more credit cards than the average person, having less total debt, having lower credit card balances, and having higher personal loan balances are some of the noteworthy characteristics found in the data on customers with perfect FICO® Scores.
An 850 FICO® Score☉ can be likened to a perfect game of bowling. Although bowling a perfect game (12 strikes in a row) doesn’t guarantee you’re ready for the professional circuit, it does show that you’re doing something right.
And despite the somewhat ludicrous analogy, there are some similarities between a “perfect” credit score of 850 and a flawless game of bowling, including the necessity of discipline and consistency. Nonetheless, there are excellent bowlers whove never quite managed a 300 game.
An 850 FICO® Score isnt as uncommon as you might think. According to statistics, it’s likely that you’ve gone to a wedding, conference, church service, or other big event with someone who received a perfect score. As of the third quarter (Q3) of 2021, 1. 31% of all FICO® Scores in the U. S. stood at 850.
Experian analyzed data from Q3 2021 to highlight the characteristics of U. S. consumers who held an 850 score. Heres what those consumers have in common.
Ever wondered what the highest possible FICO score is? Well, it’s 850 and it’s like bowling a perfect game – an impressive feat, but not necessarily essential for success. While an 850 score is undoubtedly a bragging right, it doesn’t guarantee significantly better loan terms compared to a “mere” 800 or even 760.
What Does an 850 FICO Score Mean?
An 850 FICO score indicates exceptional creditworthiness, placing you among the top 1. 31% of borrowers. This score suggests responsible credit management, including:
- Low debt: People with perfect scores typically have lower-than-average debt, owing less than half the national average.
- Diverse credit mix: They have more credit cards and tradelines (credit products on their reports) than the average consumer.
- On-time payments: They have a spotless credit history, with no delinquent accounts.
- Long credit history: They’ve established a lengthy credit history, demonstrating consistent responsible borrowing.
Who Has an 850 FICO Score?
While anyone can strive for an 850, certain demographics are more likely to achieve it:
- Older generations: Baby boomers and the silent generation make up the majority of perfect scorers, likely due to their longer credit histories.
- High-income earners: While income doesn’t directly impact your score, those with higher incomes may have access to better financial resources and guidance, enabling them to manage credit more effectively.
- Residents of certain states: Hawaii boasts the highest concentration of perfect scorers, followed by Minnesota, Connecticut, and Maryland.
Is an 850 FICO Score Necessary?
The short answer is no. An 800 or even 760 score is often sufficient to secure the best loan rates However, aiming for an 850 can be a personal goal and a testament to your financial discipline.
Tips for Reaching an 850 FICO Score
If you’re aiming for the perfect score here are some tips:
- Open new accounts sparingly: Only apply for new credit when necessary, as each inquiry can slightly lower your score.
- Manage debt responsibly: Keep your credit utilization low (ideally below 30%) and make all payments on time.
- Monitor your credit report: Regularly check your credit report for errors and address any discrepancies promptly.
- Build a long credit history: Time is your friend. The longer your credit history, the better your score will likely become.
The Bottom Line
Although impressive, a FICO score of 850 does not guarantee financial success. While getting a high score can be a motivating objective, keep in mind that a good score can also lead to advantageous loan terms. Focus on responsible credit management, and your score will naturally improve over time.
Perfect Score vs. Average Score: Credit Profiles
Even those with flawless FICO® Scores have debt; they just do it in a different way than people with lower scores. For example, U. S. Customers with perfect scores carry more credit cards than the national average, have more tradelines (credit products) on their credit reports than average, and owe less overall. U. S. consumers with an 850 FICO® Score owed less than half the U. S. average: $2,558 on average compared with the national average of $5,221.
But compared to the general population, those in the 850 FICO® Score club have higher levels of debt with some credit categories. For example, the average balance of personal loans (secured and unsecured) was $32,872, which was almost twice as much as the average overall balance of $17,064.
| Characteristics of Consumers With 850 FICO® Scores | ||
|---|---|---|
| Average for All Consumers | Average for Consumers With an 850 FICO® Score | |
| FICO® Score | 714 | 850 |
| Number of credit cards | 3.9 | 5.9 |
| Credit card balance | $5,221 | $2,558 |
| Number of retail credit cards | 3.0 | 4.2 |
| Retail credit card balance | $1,046 | $182 |
| Auto loan balance | $20,987 | $17,074 |
| Personal loan balance | $17,064 | $32,872 |
| Mortgage balance | $220,380 | $205,057 |
| Non-mortgage balance | $21,539 | $16,482 |
| Total tradelines ever delinquent | 1.8 | 0 |
Source: Experian; data as of Q3 2021
Percent of Consumers With an 850 FICO® Score by State
Four of the top ten metropolitan statistical areas (MSAs) in California have populations with the highest percentage of perfect scores. That list includes very large metropolises like the Bay Area in addition to smaller, wealthier enclaves like Santa Rosa in the heart of wine country. More than 1 in 50 consumers had a perfect 850 credit score in the San Francisco-Oakland MSA. (By comparison, in Denver, a similarly large metro, 1. 49% of consumers had an 850 FICO® Score, a percentage more consistent with the national average. ).
Other standout metros include Honolulu; Corvallis, Oregon; Minneapolis and Washington, D.C.
| Top 10 MSAs With the Highest Concentration of Perfect FICO® Scores | |
|---|---|
| Percent of Consumers With an 850 FICO® Score | |
| Honolulu, HI | 2.23% |
| Corvalis, OR | 2.20% |
| Oxnard-Thousand Oaks-Ventura, CA | 2.16% |
| San Luis Obispo-Paso Robles, CA | 2.13% |
| San Francisco-Oakland-Fremont, CA | 2.11% |
| Minneapolis-St. Paul-Bloomington, MN-WI | 2.09% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 2.08% |
| Santa Rosa-Petaluma, CA | 2.03% |
| Trenton-Ewing, NJ | 2.01% |
| Barnstable, MA | 2% |
Source: Experian; data as of Q3 2021
How I Got an 850 FICO Credit Score
FAQ
How rare is an 850 FICO score?
Does anyone have a 900 FICO score?
Is there a big difference between 800 and 850 credit score?
What is the highest your FICO score can be?
Can you get a perfect 850 FICO score?
Earning a perfect 850 FICO Score isn’t common, but it’s certainly possible. Below are some tips on how you might be able to reach this milestone, along with details about other consumers who have earned a perfect credit score before you.
Is 850 a good credit score?
An 850 FICO ® Score is nearly perfect. You still may be able to improve it a bit, but while it may be possible to achieve a higher numeric score, lenders are unlikely to see much difference between your score and those that are closer to 850. Among consumers with FICO ® credit scores of 850, the average utilization rate is 5.8%.
What is the highest FICO score & VantageScore?
If your goal is to achieve a perfect credit score, you’ll have to aim for a score of 850. That’s the highest FICO score and VantageScore available for the most widely used versions of both credit scoring models. While this may seem like a challenge, Forbes Advisor is here to help.
What percentage of Americans have a 850 credit score?
The percent of the population with the highest credit score of 850 is relatively small but has been increasing. As of April 2023, about 1.7% of the U.S. scorable population had a perfect 850 FICO® Score. That compares to 1.5% in April 2018 and 0.8% in April 2013.