What Percentage of The Population Has a Credit Score Over 835? (2024)

FAQs

What Percentage of The Population Has a Credit Score Over 835? ›

Your 835 FICO^® Score falls in the range of scores, from 800 to 850, that is categorized as Exceptional. Your FICO^® Score is well above the average credit score, and you are likely to receive easy approvals when applying for new credit. 21% of all consumers have FICO^® Scores in the Exceptional range.

22% of U.S. Consumers Have Exceptional Credit

But according to Experian data captured as 2023 came to a close, nearly 22% of consumers have a FICO^® Score in the highest credit score range—800 to 850. Consumers with scores in this range are considered to have exceptional credit.

Membership in the 800+ credit score club is quite exclusive, with fewer than 1 in 6 people boasting a score that high, according to WalletHub data.

As of the third quarter of 2023, 1.54% of U.S. consumers had a FICO Score of 850, according to Experian data. Some notable traits of consumers with a perfect credit score include an above average number of credit cards, lower credit utilization rate and lower than average total debt.

A credit score of 900 is not possible, but older scoring models that are no longer used once went up to 900 or higher. The highest possible credit score you can get now is 850.

According to a report by FICO, only 23% of the scorable population has a credit score of 800 or above.

Credit scores are three-digit numbers designed to represent the likelihood of paying your bills on time. Credit scores help lenders decide whether to grant you credit. The average credit score in the United States is 705, based on VantageScore^® data from March 2024.

Average credit score for people in their 60s and beyond

For borrowers 60 and over, the average credit score is 749. As a person approaches retirement they have a long and detailed credit history and, again, many types of credit.

Is a 950 credit score possible? In most conventional credit scoring systems, such as FICO and VantageScore, a credit score of 950 is not possible, as they typically have a maximum score of 850. However, some custom or industry-specific scoring models might use a different scale, but they are not as widely used.

What is a perfect credit score to buy a house? ›

It's recommended you have a credit score of 620 or higher when you apply for a conventional loan. If your score is below 620, lenders either won't be able to approve your loan or may be required to offer you a higher interest rate, which can result in higher monthly mortgage payments.

What is a good credit score for your age? You might consider your score to be good if it meets or exceeds the average for your peers, but that isn't the best gauge. Following NerdWallet's general guidelines, a good credit score is within the 690 to 719 range on the standard 300-850 scale, regardless of age.

A “perfect” score — an 850 on the most commonly used scale — requires a credit history spanning many years and having few or no credit missteps. And, as far as lenders are concerned, someone with a 780 or so is every bit as likely to repay borrowed money as someone with an 850.

What is the average credit score? The average FICO credit score in the US is 717, according to the latest FICO data. The average VantageScore is 701 as of January 2024. Credit scores, which are like a grade for your borrowing history, fall in the range of 300 to 850.

Your score falls within the range of scores, from 740 to 799, that is considered Very Good. A 775 FICO^® Score is above the average credit score. Consumers in this range may qualify for better interest rates from lenders. 25% of all consumers have FICO^® Scores in the Very Good range.

Average credit score for people in their 40s

For those in the 40 to 49 age group, the average credit score is about 684. People in their 40s typically have a long credit history and a mix of credit types like car loans, mortgages and personal loans.