How to Increase Your Credit Score to 800

An 800+ credit score. We would all want to be that one guy in our social circle who is known for being in this elite club. But apart from bragging rights (which, let’s face it, is quite cool), an 800+ score has tangible financial and non-financial benefits.

Good thing? It is always within reach. If your score is well below 800 (see the Best Way to Check Credit Score), you too can join the ranks of America’s 800+ club.

What People with an 800 Credit Score Look Like

In a nutshell, here are the characteristics of a person with an 800 credit score:

• They have a perfect payment history for the past 24 months
• On average, they use 7% of their available credit
• Their average age account age is old
• They tend to carry multiple credit cards

22 percent of American adults have FICO scores of 800 or above according to the Ascent credit study. That is more than a fifth of the country’s adult population.

Implication? An 800+ credit score is far from the rarity many would imagine it to be. Clearly, many have done it before you. All you need is to apply the financial habits they used to get there. And that’s exactly what I’m going to show you here.

5 Tips to Help You to Get Your Credit Score to 800

While a fifth of America’s adult population is a large number of people, this statistic also means nearly 80 percent of adults have a sub-800 score. To get into the 800+ club, you need to do things somewhat differently from the 80 percent. If you like statistics, also check out our Credit Score Statistics article.

Virtually anyone irrespective of age (see How to Build Credit at 18) and income strata can maintain an 800+ score. Here’s how.        

Payment History: Never Miss a Payment

Payment history is the single most important factor in your credit score. It accounts for more than a third of the FICO score’s calculation (see FICO vs Vantage). 800+ credit score holders typically have a perfect payment history for at least the past 24 months.

Do not take any payment or bill lightly. From medical co-pays to magazine subscriptions, all of them matter. If a tiny bill remains unpaid too long, the debt will be sent to a collection agency, and that is something the creditor will report to credit bureaus.

I must mention though that the payment of certain credit cards adds more value to your credit than others as this video explains. In a nutshell, a Visa/MasterCard credit card contributes the most to your credit score while a store card (like a Target or Home Depot credit card) contributes the least.

According to Merrill Chandler, the credit optimization guru in that video, there are different tiers of credit cards. Some credit cards provide more scoring value than others. This is how he breaks it down:

Payment Value by Credit Card Type

Type of Credit Card

Percent<