Financial Education
Understanding Your 806 Credit Score
An 806 credit score is excellent, placing you in the highest credit tier. Maintain this score by keeping a positive payment history, low credit utilization, and limiting credit applications.
If you have a really good credit score like 806, you are most likely well versed in handling your own finances and are a very financially responsible person.
A great credit history can lead to many great benefits you won’t want to miss out on. Here, you’ll learn about what it means to have an 806 credit score and how you can maintain this exceptional credit score!
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Key Takeaways for a 806 Credit Score
Overview of Your Rating
806 is a great credit score to have. All credit scores between 800 and 850 are considered “excellent” scores!
Borrowing Options
Just about any borrowing option should be available with great terms and favorable rates.
Improving Your Score
You can maintain this awesome credit score by making payments on time, watching your credit utilization ratio, and diversifying your credit mix.
Is a 806 Credit Score Good?
Yes! 806 is a part of the highest credit score range, which includes all scores between 800 and 850. Most credit scoring models usually refer to scores within this range as “excellent” credit scores.
Pro Tip: Many lenders look beyond just the score. Consistent income and recent payment history can still unlock opportunities.
US Population Credit Score Distribution
25
20
15
10
5
0
300-579
580-669
670-739
740-799
800-850
Check out some of our partners...
Explore financial products tailored for your current credit standing. These partners specialize in helping people rebuild.
Credit Builder Account
Build credit while saving money simultaneously.
No hard credit pull required to apply.
Reports to all three major credit bureaus.
Learn More ›
Lease-to-Own Solution
Flexible lease purchase plans for essential items.
Simple process with instant decisions.
No credit required option available.
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Personal Loans
A personal loan is a type of installment loan that borrowers can use for almost any purpose. They usually come with fixed interest rates, meaning your monthly payment should stay the same while you repay your loan. Personal loans can also be long-term or short-term, making them great for a wide variety of expenses. With an average credit score of 806, you should be able to get approval for just about any personal loan product you like.
Bank Loans
Consumers can access bank loans from major chains, like Chase, Bank of America, Citi Bank, or PNC, as well as smaller local banks. Since banks usually only work with borrowers with excellent FICO credit scores, you shouldn’t have trouble finding approval!
Credit Cards
Credit cards are revolving lines of credit, which means borrowers don’t need to reapply to get more money. Instead, credit card issuers give borrowers access to a set credit limit each month. There are also reward credit cards with special perks like a welcome bonus, cash back, and more.
Some popular credit card products include:
• Capital One Venture Rewards credit card
• Wells Fargo Active Cash card
• U.S. Bank Visa Platinum credit card
• Hilton Honors American Express Card
• Discover it Cash Back
• Delta SkyMiles® Blue American Express Card
• IHG One Rewards Traveler Credit Card
• The Platinum Card® from American Express
Some popular credit card products include:
• Capital One Venture Rewards credit card
• Wells Fargo Active Cash card
• U.S. Bank Visa Platinum credit card
• Hilton Honors American Express Card
• Discover it Cash Back
• Delta SkyMiles® Blue American Express Card
• IHG One Rewards Traveler Credit Card
• The Platinum Card® from American Express
Action Plan
Action Plan
Action Plan
How to Maintain Your 806 Score
Below are a few tips to help consumers maintain their great FICO scores.
Continue Making Payments on Time
Payment history plays the biggest role in determining your average credit score. With a score of 806, you’re most likely already on top of avoiding late payments, so keep up the good work!
Keep a Low Credit Utilization Ratio
Your credit utilization is comparing how much available credit you have against how much you are currently using. According to the credit bureau Experian, the average credit utilization rate of consumers with a credit score of 806 is approximately 11.5%.1 To maintain a low credit utilization, try not to spend your full available credit limit on your credit cards and pay off your balances as often as possible.
Can I Buy a House With a 806 Credit Score?
Buying a home is no simple task, but with an average credit score of 806, you’ll most likely have a much easier time. Since mortgages usually have very long-term loans (sometimes 30 years or more!) and high funding amounts, lenders are taking on quite a financial risk. Therefore, they usually tend to favor consumers with higher credit scores. With a credit score of 806, you are exactly the type of borrower mortgage lenders want to work with!
Mortgage Type
Description
Credit Score Requirements
Key Features
FHA Loan
Insured by Federal Housing Administration.
As low as 500 with 10% down.
Lower down payment requirements.
VA Loans
Backed by Dept. of Veterans Affairs.
Typically 620 (varies by lender).
No down payment required; no PMI.
USDA Loans
For homebuyers in rural/suburban areas.
640 for automatic underwriting.
No down payment required.
Disclosure: This table provides estimates; requirements and features can vary by lender and situation.
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