What is an excellent credit score?

FICO® says credit scores of 800 and above are considered excellent. And VantageScore® says excellent credit scores are 781 and above. In general, the better your credit scores are, the better your chances of being approved for credit cards, loans and more. But ultimately, it’s up to lenders to decide. And what one lender considers excellent may not be the same as another. 

Learn more about how to build excellent credit scores and how you can find out where your credit scores stand.

What you’ll learn:

• What counts as an excellent credit score depends on the scoring model and the company judging the score. 

• FICO calls its highest category exceptional and VantageScore calls its superprime. Exceptional FICO credit scores range from 800 to 850. Superprime VantageScore credit scores range from 781 to 850.

• Having an excellent credit score could help you qualify for better loan terms and interest rates.

• You can build an excellent credit score by using credit responsibly. That means doing things like paying bills on time and applying only for the credit you need.

An excellent FICO credit score falls between 800 and 850 on a scale of 300-850. FICO calls scores in this range exceptional. An exceptional FICO score may improve your chances of being approved for loans and qualifying for more favorable interest rates.

Generally, an excellent VantageScore is between 781 and 850 on a scale of 300-850. VantageScore calls its highest scores superprime.

There can be many benefits to having an excellent credit score. For example, it may help you qualify for:

• Loans and credit cards

• Favorable loan terms and lower interest rates

• Higher credit limits

• Better insurance rates

• A new apartment

• A new job, if the employer runs a credit check

Credit scores are calculated using information in your credit reports. Different factors can impact your credit scores in different ways. 

Here are the factors FICO uses to calculate its credit scores:

• Payment history: 35%

• Credit utilization: 30%

• Length of credit history: 15% 

• Credit mix: 10%

• New credit applications: 10%

To build and maintain excellent credit scores, you need to use your credit accounts responsibly over time. Here are some ways to do that:

• Pay your loans on time. Payment history is an important factor in calculating your credit scores. Late or missed payments can hurt your credit scores. Setting up reminders or automatic payments can help you remember to make on-time payments. 

• Keep credit utilization low. Credit utilization is the amount of credit you use compared to your total available credit. The Consumer Financial Protection Bureau recommends keeping your credit utilization ratio below 30%. 

• Have a healthy credit mix. A diverse credit mix indicates you can manage and maintain revolving credit accounts and installment loans.

• Keep accounts open and in good standing. A long, positive credit history suggests you can manage credit responsibly.

• Apply only for the credit you need. If you apply for multiple lines of credit over a short period, lenders may think your financial situation has worsened. Plus, the hard credit inquiries that result from your applications can temporarily hurt your credit.

• Monitor your credit reports. Mistakes in your credit reports could negatively affect your credit scores, so monitoring your credit is important. CreditWise from Capital One is a free way to keep an eye on your credit report and score. You can also use AnnualCreditReport.com to request a free copy from each of the three major credit bureaus.

FICO says scores 800 and above are exceptional. VantageScore says scores above 780 are superprime, its highest-scoring category.

If you’re looking to improve your credit, you might consider these tips. Looking for your next credit card?

• Check for pre-approval offers with no risk to your credit score.

• Earn rewards on every purchase, every day with a cash back credit card.

• Explore Capital One’s credit cards for building credit with responsible use.