5 Habits of Those with an 800 Credit Score

Sat, Sep 22, 2012

Budgeting, Financial Advice

The ever-elusive 800 credit score. We all know that a credit score of 800 means that you have almost perfect credit. We all know that that also means that, with an 800 credit score, there are a whole lot more opportunities that are open to you when it comes to credit and financing.

But what most of us don’t seem to know is how to obtain an 800 credit score. Is it even possible? What makes people with 800 credit scores so different than us? When looking at those who have such high credit scores, it is easy to see that they have very different habits than their friends with much lower credit scores. Let’s take a look at a few of these habits:

They Keep Zero Balances

People with 800 credit scores don’’ spend everything that is available to them. How can you become more like them? Here is a tip from Lexington Law:

“Allow consumer credit to raise your score by adhering to proper usage. Keep your credit utilization ratio below 25 percent and pay off balances at the end of each month. A zero balance means zero interest and complete debt control.”

They Diversify

People with 800 credit scores don’t put all of their eggs in one basket. They understand that in order to keep a high credit score, they must diversify their accounts. They don’t have all of their accounts in one type of credit. Instead, they keep a mix of revolving and instalment debt. That means mixing it up between things like credit cards, as well as mortgages, loans, etc.

They Have the Ability to Discern

People with 800 credit scores know how to discern between needs and wants. They also know how to discern between a good offer and a bad one. They know how to read the fine print, and to understand what exactly they really are signing up for and agreeing to. They don’t sign up for every offer that is presented to them. Instead, they are picky and only choose the ones that will truly benefit them, and that give them the best terms.

They Won’t Cosign!

Although it may seem nice to cosign for your friends and family members, people with 800 credit scores understand the risk this puts them in. They don’t allow their friends’ past mistakes or lack of credit history affect their credit. Ask them to walk your dog? Sure. Ask them to cosign for your new car? Sorry, you will have to look elsewhere.

Conclusion
There is so much that the rest of us can learn from those with 800 credit scores. If we can learn to adopt some of their same habits, maybe we can find ourselves in this same elite group sometime soon, enjoying all of the same benefits that they themselves are able to enjoy.

This article was written by guest writer Nicole. She enjoys helping people learn more about credit and credit scores.

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2 Responses to “5 Habits of Those with an 800 Credit Score”

  1. Mads Singers Says:

    Great post, it’s not only about the credit score though, but a good way of living life with your resources in control….!

    Kind Regards
    Mads

    Reply

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  1. Nadene Mcdowell - 08. Feb, 2016

    5 Habits of Those with an 800 Credit Score | I Need Money

    […]Credit repair companies are not allowed to take money up front before they do any work. They’re not supposed to make false claims about their services.[…]

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