This is totally random but is it possible to have a perfect credit score? We have a credit card that we use regularly to earn flyer miles but I pay it off before the due date each month. We have never had any late payments on anything and our scores have NEVER gone above 830. It just got me curious what would make it a perfect score.
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@onehotmess, I think that 830 is awesome though! That’s truly something to congratulate yourselves on! I think ours only went up maybe because we are making double mortgage payments every month, that’s really the only thing that’s a variable lol But credit karma does help 😊
An 830 is pretty close to perfect! If you haven’t already, check your score using credit karma. It will tell you what aspects of your credit report are holding you back. It could be debt ratio as said above, could also be length of credit history or the number of accounts you have open. I’ve been doing a lot of research on this because we’re looking into buying a house soon.
Less than 1-1.5% will ever see a perfect credit score. It’s possible but rare!
My husband was 834 before we built our house. I had all the credit cards in my name. He only had our house with a very low mortgage and my SUV on it. So his debt to income was awesome. Now that we built it went down to 827, we also just went to refinance a week ago and it went down again for too many hard credit inquiries.
I'm imagining if you had no debt whatsoever and no hard inquiries it would be perfect.
When I was at the bank one day, the gentleman assisting me said he had seen it once, in an older couple with a paid off house, who paid their credit cards every month and their cars were paid for. He said he asked to take a picture. Lol. I think you'll be in good shape to hit it someday. : )
Wow! Ok now that you say that I really want to try for it! I don't know why but it just bothers me bc we're so close. 🤪😂 lol
Sometimes a 0 balance can hurt because they look at it as "they can possibly charge up this much debt in a day" usually they say somewhere between a 0 and 30% balance is best to carry. At least that's what they told me at the bank when we bought our house
I do have a credit card open that I haven't used in years but then I've also heard the longer you have an account in good standing the better. And I also heard it can lower your score if you close credit cards...do you know if that's true?
@onehotmess don't close it. It goes towards the "length of credit" part of your score.
@onehotmess yes, your credit score goes down when you close a credit card, especially if you've had it a long time. That is the "history of your credit/length of your credit" part of your report
Your income to debt ratio can also impact your credit score. Say you have a mortgage or are paying on a car, that debt to income ratio can have an impact.
I wonder what the "perfect" ratio is. Lol We have a mortgage and 2 car loans. One is almost paid off. But we haven't always had them. Even without the mortage & car loans we've still never gotten over 830. I'm just curious if it's even possible to have a perfect score.
@onehotmess my mother's latest credit score was 840. She's still upset that it's not higher.. i keep trying to explain to her that she has exceptionally good credit and not not worry that it isnt 850
@watz That's amazing! I definitely know that it doesn't actually matter. I was just curious.
Got my first credit card. Never wanted one but this is the only way i know how to build credit and get my scores up. How long till you start seeing improvement to your credit score after paying it off every month on time??
Anyone have recommendations on what helps bring up your credit score a little faster? (Other than car loans)
We have a racist on the APP ‼️
If I have no credit, and have never gotten a loan before... How do I go about getting a $15k loan ?? Will the bank let me, or do I need to build credit first, or? 🤷♀️
Mom's is a 641 credit score good or bad 🤔
@onehotmess, We have a 841. It hasn’t really changed for us either.