It can seem as unattainable as Mount Everest, but other people have climbed to the top of the credit score mountain and achieved that 800 score. You can do it, too.
It’s not easy to get an 800 on your credit score, but it’s possible. More importantly, it’s worth it. Here are just a few of the perks that an 800+ credit score could get you:
Better Cell Phone Plans
It may seem like a small perk, but the savings will definitely add up. Instead of having to settle for one of those crappy pay-as-you-go plans, cell phone providers will jump to offer you a good contract.
The benefits of signing a contract with your cell service provider could mean hundred-dollar discounts on the fanciest new phones. With an 800 credit score you can also forego having to pay a security deposit.
You can finally ditch that embarrassing flip-phone, and save a pretty penny.
Better Insurance Rates
Auto insurance and renter’s insurance are just two of the common insurers that will check your credit score and treat you accordingly. Having a lower credit score means having a higher premium.
Insurance providers regard consumers with a higher credit score as being more responsible with managing their other bills, payments, and overall finances… therefore less risk to them. Bad credit scores = more trouble paying for things… a potential risk for the insurers. A good credit score is always good news.
With an 800+ credit score to your name, you’ll pay significantly less for your insurance than those poor saps with poor credit. Your premiums will be much cheaper.
Better Credit Cards
If you have a bad credit score, a credit card may have been a strong factor in putting you in that financial no-no zone in the first place. But for consumers with a superior credit score of 800, credit cards are simply cheaper and better.
For credit card providers, they want to see how you’ve managed your expenses in the past. So they’ll check your credit score. If you have a great credit score, they often offer you…
- A higher limit
- More perks and rewards
- Lower monthly payments
- Lowered interest and APR
With an 800 credit score, you’ll have your pick of the best credit cards on the market. You’ll get upscale rewards programs, discounts at places like stores, hotels, or with airlines. They’ll also entrust you with a larger line of credit and a higher limit, so you can borrow more money and they’ll trust you to pay it back on time.
Whether you’re just renting a car for the weekend, or you’re renting your dream apartment… they’ll want to check your credit score. A higher credit score means you’re more likely to lock down that prime location.
If your bad credit score features a report with a previous eviction or outstanding rental balance, no landlord is going to want you as a tenant. Even if you have a good rental history, they’ll be hesitant for you to sign anything with a bad credit score to your name.
But if you have an 800 credit score you’re always automatically in. They might even waive fees or security deposits on that rental car.
Oh, yes. It’s a bit messed up, but your bad credit score could be getting in the way of you landing that new job. Potential employers frequently check the credit score of their interviewees as a gauge for how fiscally responsible you’ve been.
An 800 credit score will be a green light for anyone looking to hire you. They want to know that you’re a good investment, and a credit report is one of the ways they interpret that level of risk.
A superior credit score rating might be all you need to finally get that dream job you’ve been waiting for.
Just like credit cards, you’re always more likely to get approved on the spot with an 800+ credit score. Again- it comes down to risk.
Lenders want to know for sure that you’re good about paying off what you owe on time. If you haven’t managed to do that in the past (earning you a poor credit score) they’ll think twice before approving you for a loan.
They’ll still look at your income and if you have any debts. But a fantastic credit score could be what tips the scales in your favor.
Not only are you more likely to get approved when you have a good credit score, you’ll also probably pay a lower interest rate than borrowers with bad credit. If you have an 800 credit score or higher, you could even qualify for 0% financing.
The world is a kinder place to people with near-perfect credit scores. It’s a sad fact. It might seem unfair, but you just save more money when you have an 800 or higher credit score.
So how can you attain that all-powerful 800 credit score? It takes time, planning, and work; but it’s possible. Less than 20% of consumers have that high of a credit score, but you can absolutely join the credit score elite and save more money. Make it your financial Mount Everest, and get to the top of the credit score heap.