By CreditNinja Reviewed by Matt Mayerle
Modified on March 18, 2024

An 808 credit score is an excellent score to have. Great work!

Borrowers with an exceptional credit score can typically qualify for any loan or credit card and receive the best rates. According to Bungalow, only 21% of consumers have an “excellent” score of 800 or higher.¹

Key Takeaways for an 808 Credit Score

Overview of Your
Credit Rating

An 808 credit score is considered an excellent credit score by most credit score models. While you can still improve your score, it's nearly perfect!

Borrowing Options With an 808 Credit Score

Borrowers with excellent credit may easily get approval for unsecured and secured loans. Scores this high can generally expect to get the lowest rates and highest loan amounts on installment loans.

Maintaining an 808
Credit/FICO Score

You can improve your excellent credit score further by reducing your credit utilization ratio and keeping credit inquiries to a minimum.

Is an 808 Credit Score Good?

An 808 credit score is exceptional, which is even better than a good credit score. According to FICO, the average credit score is 718. Although a FICO Score can go as high as 850, many lenders would consider an 808 score to be perfect. Borrowers with exceptional credit scores can save a lot of money from low rates, insurance discounts, and lower security deposits.

What Can You Get Approved for With an 808 Credit Score?

If you have a higher credit score than the average, you can get approved for practically any loan or line of credit. An exceptional credit score demonstrates that you are financially responsible and a low credit risk.  

Personal Loans

Personal loans provide small to large lump sums that borrowers repay monthly over the course of a few months or years. Borrowers can use a personal loan for almost any unexpected expense, such as a car repair, house repair, or medical bill.

As someone with a higher credit score, you could easily qualify for an unsecured personal loan with attractive loan terms. As long as you have a reliable source of income, you could get the lowest rate and the maximum loan amount a lender offers. But it’s still a good idea to shop around and compare terms before signing any personal loan agreement

Bank Loans

A traditional bank loan typically offers high loan amounts with decent rates. However, banks are known for having strict qualification requirements. But as someone with a higher credit score, you may have no trouble qualifying for a bank loan with attractive terms. The only downside is that bank loans generally have a longer approval process than online loans

Credit Cards

Borrowers with excellent credit scores can qualify for the best credit card deals and products. The best credit cards for excellent credit provide rewards in the form of points, cashback, or miles. As someone with a score significantly above the average credit score, you can look forward to premium loan terms that save you money.

These are some of the best credit cards for borrowers with a higher credit score:

  • The Platinum Card® from American Express
  • Capital One Venture X Rewards Credit Card
  • Chase Sapphire Reserve®
  • Bank of America® Customized Cash Rewards Credit Card
  • Citi Premier® Card

 

Auto Loans

An auto loan can help consumers get the money they need to purchase new or used vehicles. Car loans generally have very high rates that can increase the overall cost of a vehicle purchase. However, borrowers with exceptional credit scores can get premium introductory APR periods and the lowest interest rates. While most dealerships offer auto loans, you may find better loan offers with online lenders.

Products to Help Maintain an 808 Credit Score

Having an 808 credit score opens up a lot of opportunities for you, but it’s important to take advantage of products that help you maintain a good credit score range. 

Credit Monitoring

Monitoring your credit reports can help you identify errors that may decrease your credit score. Unfortunately, credit bureaus can make mistakes, so it’s critical to monitor your credit reports. Each of the three major credit bureaus provides a free credit report every 12 months. You can request your free credit report by visiting the Annual Credit Report website. 

Budgeting Apps

Budgeting can help consumers track their income and expenses. According to a survey of more than 1,000 Americans, 60% budget by pen and paper, while 9% use budgeting apps.2 If you don’t already have a budget, know that doing so could help you increase your 808 credit score. 

These are some of the most commonly used budgeting apps:

  • YNAB
  • Goodbudget
  • EveryDollar
  • Empower Personal Wealth
  • PocketGuard

 

Automatic Payments

One of the best ways to maintain a higher credit score is to avoid late monthly payments. If you don’t already use automatic payments, signing up could make managing your finances less of a hassle. By opting in for automatic payments, your monthly payment amount is automatically deducted from your preferred payment method. 

Benefits of an 808 Credit Score

Having an 808 credit score puts you in a prime position to earn all types of exclusive benefits. Learn about some of the perks you can obtain below. 

Lower Rates

One of the best benefits of having a higher credit score is the ability to secure the lowest rates. A low annual percentage rate (APR) can help you save a significant amount of money, especially on installment loans with extended repayment periods. Suppose you borrow $2,000 for 12 months with a 40% APR. Your total interest will be $459.32, but a lower 15% APR will only cost $166.20 in interest fees!

Higher Credit Limits

A higher credit score shows lenders that you pose a minimal credit risk, so you may qualify for the maximum credit limit that a creditor offers. A high credit limit means that you can spend more money without damaging your 808 credit score. Carrying a high credit card balance can directly affect your credit utilization, which counts for 30% of a FICO Score. However, higher credit limits can make it easier to maintain an excellent credit score. 

Better Housing Opportunities

One of the most important factors that can affect your eligibility for housing is your credit score. If you are looking to rent an apartment, your 808 credit score can give you priority over housing options and an easier approval process. Landlords may even offer you a lower security deposit since you demonstrate financial reliability. 

How To Maintain Your 808 Credit Score

Having an 808 credit score allows you to receive a lot of benefits and save more money. Read some of our helpful tips below to learn how you can maintain and even improve an excellent credit history. 

Pay Bills On Time

Paying your loans and credit accounts on time each month can help you maintain your excellent credit history. To avoid missing any monthly payments and dropping down to an average credit score, sign up for autopay or monthly payment reminders. 

Reduce Your Credit Card Debt

Paying down your existing credit card debt may help you avoid dips in your credit score. Remember that the total amount of credit you use should be less than 30% of your total credit limits. Using debt repayment strategies, such as the debt avalanche method, can help you pay down outstanding debt. 

Limit New Credit Inquiries 

You may feel inclined to take advantage of your excellent credit and apply for the best loan and credit card deals. But remember that opening new credit accounts can decrease your score by as much as 10 points. And too many inquiries within a short period can reflect badly on your credit reports. 

FAQs About 808 Credit Scores

An 808 credit score is significantly higher than the average credit score. According to FICO, the average credit score is 718. This places you well into the “excellent” credit category, indicating you’re managing your credit responsibilities better than most people who have an average credit score.

Yes, fluctuations in your credit report, such as new credit inquiries, opening or closing credit card accounts, late payments, or changes in your credit utilization, can impact your 808 credit score. However, with a score this high, minor fluctuations are normal and often temporary.

Not necessarily. Having multiple credit card accounts can actually be beneficial for your credit score, provided you manage them responsibly. However, opening several new credit accounts in a short period can temporarily lower your score due to hard inquiries.

With an 808 credit score, you’re in a strong position to negotiate lower interest rates and better terms on loans and credit cards. Don’t hesitate to shop around and compare offers. You can also directly contact lenders or credit card companies to discuss your eligibility for lower rates or higher credit limits, citing your excellent credit history as leverage.

What Interest Rate Can I Get With an 808 Credit Score?

Borrowers with excellent credit scores can usually get the lowest interest rates available. If you’re looking to apply for credit, rest easy knowing that you may easily qualify for most financial options. This allows you to inquire with multiple financial institutions and have your pick of the best available offers. 

Can I Buy a House With an 808 Credit Score?

An 808 credit score allows you to qualify for most conventional loans. A conventional loan is not backed by the government, which means you need excellent credit and a low debt-to-income (DTI) ratio to qualify. Conventional loans may offer lower interest rates and higher loan amounts. If you can provide a 20% down payment, then you will not require private mortgage insurance (PMI). 

For more information on the types of loan terms you can expect with an 808 credit score, check out this helpful guide:

Borrowing Aspect

Expectation for an 808 Credit Score

Approval Likelihood

Very High

Annual Percentage Rate (APR)

Generally Lower

Loan Options

Wide Range, Including Unsecured Personal Loans, Prime Mortgages, Auto Loans

Loan Terms

More favorable conditions, including lower fees and penalties

Credit Limits

High, reflecting lender confidence in your creditworthiness

Interest Rates

Lower, benefiting from excellent credit status

Fees and Penalties

Lower fees and penalties, reflecting lower risk to lenders

Mortgage Options

Broad, with competitive interest rates and potentially lower down payments

Auto Loan Conditions

Approval at competitive interest rates, often without the need for a down payment

Credit Card Offers

Extensive, including cards with rewards, low APRs, and high credit limits

 

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