808 Credit Score: Is it Good or Bad?

One of the most crucial variables that will determine your future is your credit score. It can be the sole factor in deciding whether you can continue renting or qualify for a mortgage for a new house. It may affect the interest rates on your student, mortgage, and auto loans. You’ll pay less for borrowing money the higher your credit score is.

Furthermore, it’s critical to recognize that your 808 credit score is a significant predictor of your financial responsibility, so knowing whether it’s “good” or “bad” is crucial. Your credit record will be examined by someone each time you apply for a new loan or credit card. Additionally, you’ll discover that prospective employers and landlords will take your credit score into account before hiring you.

Your chance of needing to submit a sizable deposit before signing a new lease or opening a new account increases with a lower credit score. Your credit score may even cause you to miss out on employment possibilities.This article will discuss all the information about the 808 credit score, how to improve it, its contributing factors, and benefits.

What Is A Credit Score?

Let’s start with the fundamentals before delving into the intricacies of an 808 credit score. Credit scores are numerical representations of people’s creditworthiness. It displays their capacity for responsible credit management. Higher scores denote better creditworthiness and credit scores normally range from 300 to 850.

What Is An 808 Credit Score?

A credit score of 808 is regarded as exceptionally high. It belongs to the highest category of credit scores, and people with this score are thought to be very creditworthy. You should be able to get the greatest interest rates, and credit offers with an 808 credit score.

This three-digit score, which ranges from 300 to 850, is determined using data from your credit report. Though FICO (the Fair Isaac Corporation) is typically the preferred option among lenders, there are two main scoring algorithms in use: VantageScore and FICO.

A lender Application will review your credit score whenever you ask for a line of credit in order to assess whether to grant you a loan and what terms are reasonable. Since your credit score also affects the interest rate you’ll pay on a mortgage or the annual percentage rate (APR) on a new credit card, having a high credit score might save you hundreds or even thousands of dollars.

Is 808 A Good Credit Score?

A FICO® score of 808 is significantly higher than the 714 average credit score. It’s almost as good as credit ratings get, though you might still be able to raise it a little.

Most crucially, your score falls within the Exceptional and Very Good credit score range (740–799), which is on the lower end of the former. Although remaining in the Exceptional range can increase your chances of being approved for the most significant credit offers, a Very Good score is hardly a reason for concern.

Credit Score Credit Rating % Of Population
300 – 309
580 – 669
670 – 739
740 – 799
Very Good
800 – 850

An 808 credit score is regarded an Excellent Score, as you can see in the table below. In the United States, the average credit score is 714.

How is a Credit Score of 808 Calculated?

To determine your credit score, the three major credit bureaus use five different sorts of information. They gather this data from multiple sources and aggregate it to provide you with a final score. The components of the score are as follows: 10% new credit, 30% amount owed, 15% credit history, 10% payment history, and 10% credit mix.

Factors That Contribute To 808 Credit Score.

Your credit score may suffer significantly if bankruptcies or other public records are found on your credit report.

A. History of Payments

Your credit score may be impacted by past-due accounts and incomplete or delayed payments. Having a track record of timely bill payments will raise your credit score. It’s really simple and can account for up to 35% of your credit score, making it the single biggest factor affecting your credit score.

B. Rate of Credit Usage

Add up the balances on all of your revolving credit accounts (credit cards, for example) and divide the total by your credit limit to find your credit utilization ratio. You may be aware that increasing utilization near 100% may result in your credit score being lowered, but you may not be aware that the majority of experts advise maintaining your utilization ratio around 30% in order to prevent credit score reductions. About 30% of your credit score is derived from your use of credit. For example, if you have a credit limit of $10,000, then your total outstanding balance should not be more than $3,000.

C. Total Credit and Debt

Your credit score is a reflection of both the credit kinds you utilize and the overall amount of outstanding debt you have. A wide range of credit is generally preferred by the credit score, including both revolving credit (i.e., accounts like credit cards that allow you to borrow within a specific credit limit and repay using variable payments) and installment loans (i.e., loans with fixed payments and a set repayment schedule, such as mortgages and auto loans). Your credit score might be impacted by your credit mix by up to 10%.

D. Duration of Credit History

Longer credit histories are generally beneficial to credit ratings. There isn’t much that recently opened credit accounts can do about it other than to stay away from bad behaviors and try to build a history of prompt payments and wise credit choices. Your credit score may be influenced by the length of your credit history, up to 15%.

E. Latest Applications For Loans

A hard inquiry is when you apply for a loan or credit card; the lender demands your credit score (and frequently your credit report as well) during this procedure. Generally speaking, a hard inquiry lowers your credit score temporarily. Hard inquiries usually have a short-term negative impact on your credit score if you keep up your punctual payments. (Checking your own credit has no effect on your credit score; it is a soft inquiry.) Up to ten percent of your credit score may come from recent credit applications.

How To Raise Your Credit Score To 808?

While there isn’t a one right way to obtain a high credit score, there are a few things you should know in order to keep your score high.

Even if you have consistently strong credit, it’s a good idea to be aware of these credit criteria, particularly if you’re looking for a new loan or striving for the highest score.

1. Rate of Credit Utilization

By dividing the amount of credit you are now using by the total amount of credit you have access to, you may find your credit utilization rate. Generally speaking, the lower your utilization rate, the better, but you should aim to maintain it around 30%.

Two strategies to improve your credit utilization are to have high credit limits and low credit card balances. You can ask your credit card company to increase your credit limit if you need to lower your credit utilization, but be aware that this could lead to a hard inquiry.

Make some early payments on your current credit card balances first if you have a high credit usage rate and intend to apply for a new card soon. Prior to submitting a new application, you might be able to lower your credit utilization rate and even raise your ratings if you pay off your accounts before they are reported to the credit bureaus.

2. Pay all of Your Bills on Schedule

One of the most important things that affects your credit score is your payment history. Your score may be significantly impacted by one late payment. You must also pay all of your payments on time, including those for your credit cards, loans, and utilities. To make sure you never forget a payment, think about setting up automatic payments or reminders.

3. Keep Your Credit Mix Balanced

The term “credit mix” describes the variety of credit you possess, including mortgages, credit cards, auto loans, and personal loans. You can raise your credit score by keeping a balanced mix of credit. Possessing a range of credit kinds, such as installment and revolving credit, demonstrates your ability to manage various credit kinds sensibly.

4. Avoid Opening Several Accounts

Your credit score may suffer if you open too many credit accounts because it will appear that you pose a greater credit risk. Every time you ask for credit, your credit report is subject to a hard inquiry that may result in a few points being deducted from your score. As such, open accounts only when required and refrain from opening an excessive number of them quickly.

5. Consistently Check Your Credit Report

You can identify mistakes or fraudulent activity that could lower your credit score by routinely reviewing your credit report. Every 12 months, you have the right to one free credit report from each of the three main credit bureaus: Equifax, Experian, and TransUnion. Examine your credit report thoroughly, and let the credit bureau know about any mistakes or inconsistencies.

6. Keep Using Your Oldest Accounts

Your credit score is also heavily influenced by the duration of your credit history. As a result, you ought to maintain your oldest accounts active since they show prospective lenders that you have a solid track record of timely payments.

Your credit score may drop if you close your oldest accounts because it may diminish your credit history. If you have an old account that you don’t use anymore, think about keeping it open with a small amount or using it sometimes and making a full monthly payment. In this manner, you may keep up a lengthy credit history and demonstrate your responsibility as a borrower to lenders.

Advantages Of A Credit Score Of 808

Numerous financial advantages are available to individuals with a credit score of 808:

Increased Rates of Credit Application Approval

Your chances of getting your credit applications approved are higher if you have a credit score of 808. This high score indicates responsible financial behavior to lenders and credit card firms, which increases their willingness to give you credit.

Reduced Interest Rates

Having an 808 credit score will benefit you in a number of ways, including cheaper interest rates on credit cards and loans. This implies that you will save on interest over time when you borrow money.

Obtaining Premium Credit Cards

A lot of credit card issuers provide premium credit cards with special features like cashback, concierge services, and travel rewards. You can apply for these premium cards, which frequently feature more benefits and rewards if your credit score is 808.

Exceptional Financial Offers

 An 808 credit score enables the unlocking of exceptional financial offers that extend beyond credit cards. Offers for personal loans, improved mortgage rates, and even insurance coverage may come your way. Many APP These special offers may yield considerable long-term savings.

Final Words: 808 Credit Score

An 808 credit score indicates that you have been managing your credit responsibly, which can lead to a wealth of financial options. This score is highly valued; thus, reaching and keeping it is a wise financial objective.

Additionally, having an 808 credit score allows you to take advantage of unique financial deals, premium credit cards, better interest rates, and more excellent approval rates—all of which improve your financial health overall.


Q1.What does a credit score of 808 signify?

An 808 credit score shows a high degree of creditworthiness and is regarded as outstanding. Financial offers and attractive interest rates may result from it.

Q2. How much time does it take to have a credit score of 808?

Each person's credit history and financial behaviors determine how long it takes them to obtain an 808 credit score.

Q3. Is 850 a perfect credit score possible for me?

A perfect 850 credit score is theoretically achievable but extremely uncommon, even though an 808 credit score is good.

Q4. What are the negativities that can affect my credit score?

High credit card balances, late payments, and high credit utilization rates can negatively affect credit scores

Q5. After how long, i need to check my credit score?

If you are evaluating your credit score one time in a year, it is good. But you should check it more often because it can be beneficial in improving your credit.

Q6. Can I still have an 808 credit score if I've never had credit before?

Getting an 808 credit score without any credit history is difficult, but it is not unachievable. Obtaining a secured credit card or adding yourself as an authorized user to someone else's credit account are two ways to establish credit.

Q7. What is the duration required for a credit score to rise to 808?

Depending on your existing credit status, it may take some time to raise your credit score to 808. It can take a few years of prudent financial practices, such making on-time payments and keeping credit card balances low.


Zayne Z

Meet Zayne VoIP Blog's dedicated Content Researcher with 5+ Years Experience. Passionate about VoIP technology, he delivers accurate, engaging articles, keeping readers informed on industry trends with excellence.