Perfect Credit: How to Get the Highest Credit Score

What is the highest credit score possible? It depends on the type of credit score.

The credit scores most of us are familiar with, as measured by FICO and VantageScore, range from 300 to 850. A score of 850 is considered perfect credit. Some industry-specific credit scores and older credit scores range from 250 to 900. But most people mean 850 when they use the term highest credit score or perfect credit score.

Achieving perfect credit is challenging, and you might wonder whether it's worth the effort. Here's a closer look at what it means to have the highest credit score—and how to get it. 

Does Anyone Have a Perfect Credit Score?

A small group of people in the U.S. have perfect credit scores. According to FICO, fewer than 2% of the scorable population has a perfect 850 credit score. Scorable means that you have enough credit history to generate a credit score. 

So what do people with the highest credit score have in common? 

FICO analyzed specific behavioral characteristics of people with perfect credit. The analysis found that people with 850 credit scores:

• Pay on time: People with the highest credit score have no reported history of missed payments, collection accounts, or derogatory information (like bankruptcy). 

• Have low credit utilization: People who have perfect credit scores don't avoid credit entirely. But they do keep their credit card balances very low overall. Their reported balances are typically less than 10% of their credit limit, and they pay it off each month. 

• Have an established credit history: Someone with the highest credit score typically has an average account age of 30 years. 

• Apply for new credit sparingly: Those with perfect credit still apply for credit, though they do so only when it's necessary.

The highest proportion of people with the highest credit scores in the U.S. live in Hawaii. According to 2023 data from FICO, 2.6% of the state’s population has a perfect credit score. New Jersey, Minnesota, Massachusetts, and Connecticut rounded out the list of the top five states for highest credit scores in 2018 and 2023. 

These states also tend to fare better for things like healthier lifestyles and higher education levels. So there could be a correlation between those factors and healthy credit habits that lead to higher scores. 

Age and income don't affect your credit score calculations directly. But age can work in your favor since the older you are, the longer your credit history is likely to be. Higher income doesn't guarantee a perfect score. You could achieve a perfect score just as easily with a low income.  

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Perfect vs. Average Credit

The average FICO credit score is 717, which is well below the 850 needed for a perfect credit score. In terms of where that puts you in the overall credit score range, 717 would be considered a good credit score by most measures. 

A good credit score typically means it’s easier to get approved for credit when you need it. For example, a 717 should meet credit score requirements for credit cards, vehicle loans, or even a mortgage. 

When it comes to costs, higher credit scores tend to bring costs down. Most lenders offer different prices to people with different scores. For example, someone with a 680 credit score might qualify for an 18% APR on a loan, while someone with an 820 credit score might qualify for a 10% APR on the same loan.

People with average credit scores are doing some things right with credit. However, they may also be doing things that keep them from reaching the highest credit score. For example, some may carry more credit card debt. Others may have a missed payment or two on their credit history that's costing them points. 

5 Factors That Affect Your Credit Score

Five key factors determine your credit score. Understanding them is key if you hope to one day have the highest credit score.

1. Payment history

Your payment history makes up 35% of your FICO credit score. This is why paying your bills on time is so important. A history of late payments could reduce your score, though how much depends on several factors, including how late the payment was, how often you've made late payments, and how recently the late payments occurred. If you want the highest credit score possible, paying your bills on time is the single best thing you can do to start.

2. Amounts owed

Amounts owed accounts for 30% of your FICO score. This factor includes all of your debt, but the most important piece is your credit utilization ratio. That’s how much credit card debt you have compared to your credit limit. For example, if you have a card with a $1,000 limit and charge $100, your credit utilization ratio for that card is 10%.

Generally, credit scores are inversely proportional to utilization. That’s a fancy way of saying that as utilization goes up, credit score comes down. As you pay down your credit card bills, your score could rise. These are generalizations, and there are many other factors affecting your scores. But paying down your credit cards could have a big impact.

3. Length of credit history

The average age of your accounts makes up 15% of your FICO score. Average account age tends to rise over time, but there's no direct correlation between age and your length of credit history. 

If you open new credit accounts or close old accounts, your average account age could go down, even if you’re 100 years old. 

Your scores could benefit if you apply for new credit sparingly and leave old credit accounts open.

4. Credit mix

Your credit mix accounts for 10% of your FICO score. This represents the variety of credit accounts that you have experience with. 

Credit has two main types: revolving and installment debt. Credit cards are an example of revolving debt. They don't have a fixed monthly payment and their balance can increase or decrease over time. Installment debt has predictable monthly payments, like most mortgages and car loans.

Having experience managing both types of credit could increase your credit score. But only using one type of credit won't cause the same level of harm as a late payment or maxed out credit card.

5. New credit

The final 10% of your FICO credit score comes from new credit applications. Applying for new credit cards or loans when you need them is okay, but if you do it too often that could be a sign that you’re in financial distress. That's why each new credit inquiry tends to drop your score a few points.

Inquiries affect your credit score for one year, and the effect fades over that time.

If you’re looking for a mortgage, auto loan, or student loan, you get a shopping window. You can shop around, and all inquiries from the same type of lender are counted as a single inquiry against your FICO score. The shopping window is 45 days (older FICO scores had a 30-day rate shopping window).

For VantageScore, all inquiries within 14 days, no matter what kind, are counted as one. 

Pursuing Perfection: From Excellent to 850 Credit Score

Getting the highest credit score takes time, but it's entirely possible. If you'd like to raise your score to perfect credit status, here are some of the most effective ways to do it.

1. Start building credit if you aren't already

Your credit scores are based on the information in your credit report. The credit bureaus compile credit reports using details provided by your lenders. 

If you don't have any credit accounts in your name, you'll need to open some to start working toward perfect credit. You can:

• Get a secured credit card

• Become an authorized user on someone else's account

• Get a credit builder loan

Secured credit cards require a cash deposit to open. The amount of your deposit typically sets the amount of your credit limit. These cards can be a great way to start building credit or repair it after debt relief. You use the card just like you would use any other credit card. If you make purchases, you’ll get a bill. You can pay off the entire balance, or make a smaller payment (as long as it meets the minimum). After some time, you can apply for a traditional credit card and ask for your security deposit back.

Becoming an authorized user means someone else adds you to one of their credit card accounts. Make sure it’s one that gets reported to the major credit bureaus or it won’t help you build credit. You’re not responsible for paying off the balance when you’re an authorized user. If the primary cardholder keeps the balance low and pays on time, and the account is reported to the credit bureaus, you could both see a positive impact on your credit scores.

A credit builder loan is available from some banks and credit unions. You don’t get the money up front like you would with a traditional loan. You make payments, as you pay off the loan, the money is distributed to you. In the meantime, you are establishing a payment history.

2. Pay on time

Payment history is the most critical factor in FICO score calculations. If you're hoping to get a higher credit score, then paying on time is a must. 

Set up automatic payments to ensure you never miss a due date. You can also set a bill due date reminder in your calendar to track when credit card and loan payments are due. 

If you miss a payment, stay calm and pay as soon as you remember. Most creditors won’t report the payment as late until it’s 30 days past due.

3. Keep balances low

People with perfect credit scores don't charge up loads of debt that they can't pay off. You can follow their example by maintaining low credit utilization. 

Paying credit cards in full each month is best if you can manage it. But if you can't, work on paying down your balances. Asking for credit limit increases periodically could improve your utilization ratio as long as you're not charging up new debt. 

4. Don't go overboard with credit applications

Opening a new credit card account might be tempting, especially when preapproved offers land in your mailbox. But again, each new inquiry can ding your score, so it's essential to choose wisely when opening new cards. 

If you're interested in earning rewards, for example, you might have one card that earns cash back and another that earns travel points or miles.

5. Check your credit regularly

Checking your credit reports and scores yourself won't hurt your score. And it's a good idea to review your reports regularly. There may be errors or inaccuracies in your reports that are hurting your score. If you spot them, you can have them corrected or removed. 

That, along with the other tips outlined here, can be a simple and effective way to grow your score to 850.