How much can I borrow with a 800 credit score?

how much can i borrow with a 800 credit score

The amount you can borrow with an 800 credit score will depend on your income, ability to repay, and the lender and loan option you choose. However, having an 800 credit score will really help with a higher loan amount. 

If you have a FICO credit score of 800, you are not only in good shape but also in excellent shape financially. 1 in 6 Americans have a FICO score of 800 or greater.1 Credit scores that fall within the range of 800 to 850 are considered exceptional credit scores. There is an abundance of perks that come with a credit score as high as that. You will have access to financial benefits that borrowers with lower credit scores can only dream of.

With an exceptional credit score, you may be able to qualify for a higher total credit limit and significantly more money when you apply for a loan. Most credit products will be available to you, and you may even receive excellent credit offers without even needing to search them out. 

To get a better idea of how you might benefit from your 800 credit score and how much you can borrow in a loan with perfect credit, let’s look at how the credit scoring system works and why credit matters.

Why Credit Matters

Credit reports and the credit scoring system were created to help lenders measure the level of risk involved in lending money to various consumers. As it has evolved over the years, it has come to be thought of as a measure of a borrower’s financial trustworthiness.

Your credit matters because it can dictate what you are able to purchase, where you live, and sometimes even where you work. If you ask any personal finance writer worth their salt, they will tell you that your credit score is one of the most vital foundations of optimal financial health.

Credit Reports

Credit reports are where all the information used to calculate credit scores is compiled. The three major credit bureaus–TransUnion, Experian, and Equifax–each compile a credit report based on details reported to them by the various financial institutions you open credit accounts with. 

Your credit report is composed of the following categories of information: personally identifying information, credit accounts, credit inquiries, public records, and collections accounts. Everything relevant to your creditworthiness is included on your credit report so that any lender or credit card issuer you give authorization to can see proof of your good credit habits. 

Credit Scores

It is a common misconception that credit reports come with a credit score attached. However, your credit score is calculated after the fact using the information on your reports like your payment history and credit history

Most scoring models use similar breakdowns, but there are technically many versions of your credit score out there. But there is one credit scoring model that holds far more weight amongst lenders than any of the others.

Your FICO Score

The FICO score is the credit score most commonly relied upon by lenders.2 Created by the Fair Isaac Corporation, FICO scores calculate your credit score using the following formula:

  • 35% → Payment History
  • 30% → Amounts Owed
  • 15% → Length of Credit History
  • 10% → Credit Mix
  • 10% → New Credit

Your FICO score is an excellent summary of your creditworthiness since it manages to fit your extensive credit history and credit data into an easily digestible three-digit number. FICO scores range between 300 and 850. The higher your FICO score is, the more favorably you will be viewed by potential creditors.  

Is 800 an Exceptional Credit Score?

Since a good number of credit card issuers and lenders judge credit scores with respect to the range they fall in, an 800 credit score will give you access to the same advantages enjoyed by someone with a perfect credit score. This means you are unlikely to face rejection when seeking new credit accounts, applying for a car loan, or even filling out rental applications. 

An 800 credit score which is classified as an exceptional FICO score, opens nearly every financial door that you could wish to walk through.  

Credit Score Classification 

Most lenders agree upon the FICO score range classifications. Credit scores are divided into ranges: very poor, fair, good, very good, and exceptional. Almost every score in or above the good credit score range is satisfactory to many lenders. 

Classifications according to credit score range are as follows:

Credit Score RangeClassification
300 to 579Very Poor Credit
580 to 669Fair Credit Score
670 to 739Good Credit Score
740 to 799Very Good Credit Score
800 to 850Exceptional Credit Score

With an 800 credit score, you are in the top 21% of consumers. While a good credit score might get you approved, an exceptional credit score will benefit you beyond basic approval.

Lending Perks Available to You With Excellent Credit

There are a myriad of amazing perks borrowers with a high credit score will benefit from. However, the perks only get bigger and better when you have a score in the highest credit score range of exceptional. 

With an 800 credit score, you will be able to enjoy the benefits enjoyed by those with good and very good credit but even better and with even more ease of access. Here are a few of the lending perks that come with having an exceptional credit score, including how much you can borrow:

Larger Loan Amounts

With a higher credit score, you may qualify for significantly higher loan amounts when you are looking to borrow money. It doesn’t matter what types of loans you want; having an exceptional credit score will allow you to get serious money when you apply. 

If you want the newest and most high-tech vehicle, you will likely be able to qualify for a more considerable auto loan amount so you can afford to purchase it. Deciding to take out hefty loan amounts is still a decision that should be made carefully, regardless of your credit score. You need to be positive you can afford to pay the monthly bill, as late payments will harm your excellent credit. 

Lower Interest Rates

When borrowers have poor credit, lenders for personal loans, bad credit loans, installment loans, and more tend to charge higher interest rates to make up for the risk they are taking on. Making more money through interest charges compensates for the possibility of losing cash by lending money to subprime individuals. This is why loans like online payday loans have higher interest rates.

On the other end of the spectrum, borrowers with exceptional credit may receive significantly lower interest rates. A loan with a low-interest rate is far less costly, making it easier to save money. If your credit score has recently reached the exceptional range, you may even be able to get the interest rate lowered and more favorable terms on an existing loan you have. 

Higher Credit Limits

Exceptional credit scores will unlock higher credit limits on your revolving credit card accounts. Your credit card issuer considers your credit score when deciding whether to increase a borrower’s available credit. 

Getting a credit limit increase will improve your credit utilization rate, further boosting your score. Enjoy the increased freedom this new credit availability offers you but be sure not to take on more debt than you can afford to pay. 

How To Maintain Your 800 Credit Score

A credit score of 800 is so near-perfect that it is almost impossible to improve it much more. However, there are several things that you can do to ensure that you maintain your score as it stands and perhaps even get you those few extra points that will give you a perfect credit score.

Check Your Credit Report Regularly

All consumers have a right to receive one free credit report annually. Be sure you take advantage of that and check your report even more often if you are able. Doing this will allow you to catch any inaccuracies right away. 

If there is any negative information you believe was reported in error, you can dispute it immediately before it harms your score. Once you have determined that everything on your credit report is accurate information, you can still use that to inform the financial decisions you make on a daily basis.

Keep Credit Utilization Low

Continue to keep your card balances as low as possible to maintain a low credit utilization ratio if you can, pay off your outstanding balances to zero every month. Not only will a low credit utilization ratio keep your score in excellent shape, but it will also save cash on interest charges. 

Maintain a Pristine Payment History

Pay bills on time for your credit cards and loans. Every late payment will mar your payment history, damaging your credit score. All reasonable efforts to make your payments on time every single month will result in maintaining your credit score.

Round Out Your Credit Portfolio

Finally, consider rounding out your credit portfolio by obtaining a healthy mix of account types. Too many credit cards? Apply for loans! Too many loans? Add a credit card or two to your credit report! A good variety of credit types will put your score above the rest, making you even more attractive as a borrower. 

FAQS: How Much Can I Borrow With an 800 Credit Score?

What distinguishes a FICO score from other credit scores?

The FICO score is one of many credit scores available, but it’s the most commonly used by lenders. 

How often is my credit score updated, and how does my credit history influence it?

Credit scores can be updated as frequently as every 30 days, depending on when creditors report your account activity. Your credit history, including payment patterns and loan durations, plays a significant role in determining your score.

If I apply for a personal loan or check my credit score, will it lower my score?

Applying for a personal loan can result in a “hard inquiry,” which might slightly lower your score. However, checking your own credit score is a “soft inquiry” and doesn’t impact it.

How can I manage my credit card balances to improve my credit score?

Paying down high credit card balances can significantly boost your score. Maintaining a low credit utilization rate, which is the ratio of your card balance to your credit limit, is crucial for a high credit score.

Even with an 800 credit score, am I guaranteed the best personal loans or credit card approvals?

An 800 credit score, considered an excellent credit score, greatly improves your chances of securing the best personal loans and credit card offers. However, lenders also consider factors like income and debt-to-income ratio.

How do credit inquiries impact my credit score?

Hard credit inquiries, like those from loan applications, can have a minor negative impact on your score. Multiple inquiries in a short period can be especially detrimental.

Are there any downsides to having a high credit score, and how does it relate to my credit limit?

A high credit score is generally beneficial and can lead to higher credit limits. However, it’s essential to manage credit responsibly and not accumulate excessive debt, even if you have access to larger credit limits.

The Bottom Line With CreditNinja

An 800 credit score, classified as exceptional, shows a commitment to financial responsibility and discipline. If you have this score, you will likely receive an array of benefits. From qualifying for larger loan amounts, and receiving lower interest rates to enjoying higher credit limits, there are lots of advantages. 

However, CreditNinja wants you to remember that while a high credit score provides a significant edge, other factors like income and repayment ability also play a role in lending decisions. Regularly monitoring your credit report, maintaining a low credit utilization rate, and ensuring timely payments are crucial to preserving this excellent score and even boosting your credit!


  1. What people with 800+ credit scores have in common | WTOP News
  2. How Your Credit Score Impacts Your Financial Future |
  3. 800 Credit Score: Is it Good or Bad? | Experian
  4. 800 Credit Score: How You Can Get There | Forbes Advisor

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