Building an 800+ Credit Score
To Build an 800+ Credit Score, acquire at least three credit sources whose average age is seven years old, have no negatives on your credit report, no collections, and have a maximum of 10% credit utilization.
The requirements for an 800+ score are rarely stated but here's what I have experienced and discovered from my research.
You must have at least three sources of credit. An example might be two credit cards and a car loan. A house loan or rental house loan are also excellent additions.
You cannot have any missed payments on your credit report in the last 7 years.
You cannot have any Collections in the last 7 years.
Bankruptcy, I am certain you cannot have one in the last 7 years. A Chapter 7 bankruptcy will stay on credit reports for 10 years from the filing date, while a Chapter 13 bankruptcy generally remains for seven years from the filing date.
Your average credit history must be at least 7 years old. If you are 18, You will need help by becoming an authorized user on an old account of a parent or family friend.
Your credit utilization needs to be under 10%.
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