By CreditNinja Reviewed by Matt Mayerle
Modified on May 22, 2024

An 812 credit score is considered “excellent” credit by most credit bureaus and credit scoring models.

This “excellent” credit tier is the highest credit ranking tier and includes all scores between 800 and 850.

If you have an average credit score of 812, you are most likely a responsible borrower and have decent financial habits, good for you! 

Here, you’ll learn about what it means to have a credit score like 812, how it can affect your finances, and what you can do to maintain this amazing overall credit score!

Key Takeaways for an 812 Credit Score

Overview of Your
Credit Rating

An 812 credit score is in the highest credit score category! All scores between 800 and 850 are considered excellent credit.

Borrowing Options With an
812 Credit Score

Most loan and credit card products should be available. Just make sure to borrow responsibly!

Improving an 812
Credit/FICO Score

Watch your payment history, credit utilization, and debt-to-income ratio to maintain this amazing score.

Is an 812 Credit Score Good?

It definitely is! 812 is one of the most exceptional credit scores a consumer can have. You can’t achieve this type of credit score without time, diligent financial responsibility, and smart financial decisions.

What Can You Get Approved for With an 812 Credit Score?

Consumers with a higher credit score usually have their pick of the crop when it comes to loan products. However, before you apply for any type of loan, make sure to research lenders, compare offers, and consider your non-loan alternatives first. But, if you decide that getting a loan is the right choice for you, you may want to consider one of the options below. 

Personal Loans

A personal loan, often called a personal installment loan, is a type of funding in which consumers receive their money in one lump sum payment, usually via direct deposit into their bank or checking account. After about a month, borrowers are responsible for starting to repay the balance in monthly installments.  Thankfully, with a higher credit score of 812, you should be able to meet the minimum credit score requirements for many types of personal loan products. 

Bank Loans

Consumers can also access personal installment loans and other funding types through a bank. CNN reports that the most popular banks in the United States are Chase, Bank of America, Wells Fargo, Citibank, U.S. Bank, PNC Bank, Truist Bank, and Goldman Sachs.1  Bank loans are usually used for major expenses, such as debt consolidation, home renovations/repairs, investing opportunities, or other large purchases. And with a higher credit score of 812, you should be able to get credit approval for many types of bank loan products. 

Credit Cards

Credit cards are revolving lines of credit that give consumers access to a renewed credit limit every month. While credit card accounts can be convenient because you don’t have to reapply every time you need money, you run the risk of accumulating unaffordable credit card debt if you don’t pay off your balances regularly.  But with responsible credit card habits, they can be a great financial tool. A few different credit card products consumers with exceptional credit scores may consider are: 
  • Chase Sapphire Preferred® Card
  • Chase Freedom Unlimited®
  • Wells Fargo Autograph℠ Card
  • Capital One VentureOne Rewards Credit Card
  • U.S. Bank Cash+® Visa Signature® Card
  • Citi Custom Cash® Card
  • Bilt World Elite Mastercard®

Car Loans

A car loan, or auto loan, is a type of secured loan used for buying a car. Some factors that go into determining your approval for a car loan include your average credit score, credit history, income, and current debts. Usually, one of the most important factors is your average credit score. So, you should be able to nab a pretty good deal when you have a higher credit score of 812! 

Home Equity Loans 

If you are a homeowner, you can use the equity in your home to access funding via a home equity loan or line of credit. Since the equity in most homes is so high, home equity loans and lines of credit usually come in higher loan amounts. And so, these secured loans can be good for large purchases. But keep in mind that if you are late on monthly payments or default on your loan, you are putting the security of your home at risk. 

Products to Help Maintain an 812 Credit Score

Responsible credit management is key when it comes to maintaining great FICO credit scores like 812. Below are a few products and tools that can help you do just that. 

Credit History and Report Monitoring

While you should be checking your credit report on your own every so often, it may also be helpful to use a credit monitoring service. That way, if there are any errors or suspicious activity you may have missed on your credit report, there is another layer of protection to make sure nothing falls through the cracks. 

Some popular credit report monitoring services include: 

  • Aura
  • LifeLock by Norton
  • IdentityGuard
  • Zander Identity Theft
  • Identity IQ
  • IDShield

Some banks and credit bureaus offer free credit monitoring services; however, these programs may not provide as much coverage as paid ones. 

Savings Account

Financial emergencies and unexpected expenses happen, even if you keep a great budget and make all your due payments on time. Having a savings account set up can help you avoid these unexpected expenses from completely derailing your budget and putting your credit history at risk. 

There are a few different types of savings accounts you may find useful when you have a higher credit score of 812. 

Feature

Traditional Savings

High-Yield Savings

Money Market Accounts

Certificates of Deposit (CDs)

Interest Rate

Lower

Higher

Variable, often higher

Fixed, often higher

Minimum Balance Required 

Varies 

May be higher 

Often higher

Varies 

Access to Funds 

Easy

Easy

Easy with limited check-writing

Limited, penalty for early withdrawal

Liquidity 

High

High

High

Low

Best for

Everyday savings

Long-term saving with better interest 

Those who need both savings and easy access with better rates 

Long-term savings without needing immediate access

Insurance

FDIC or NCUA-insured

FDIC or NCUA-insured

FDIC or NCUA-insured

FDIC or NCUA-insured 

Typical Fees

Low or none

Low or none

May have higher fees

None, but early withdrawal penalties

Compounding

Monthly/Quarterly

Monthly/Daily

Monthly/Daily

Varies

Disclaimer: The information provided in this comparison chart is for general informational purposes only. It is a broad overview and does not cover all features or conditions of the various types of savings accounts. The specifics of each account type can vary significantly between different financial institutions in terms of interest rates, fees, terms, and conditions. 

Benefits of an 812 Credit Score

Having a higher credit score can provide tons of benefits in your financial and even your personal life. Some of those benefits include: 

  • More loan options: Lenders love working with borrowers who have a great credit history. A higher credit score usually means that the person is most likely a responsible and trustworthy borrower! 
  • Lower interest rates: Private lenders often offer lower interest rates to borrowers with good credit scores. They do this to make their loan products more appealing to good credit borrowers so those consumers go with them for funding and not their competitors. 
  • Easier time renting or finding a mortgage: Landlords and mortgage lenders often examine potential renters’ or homebuyers’ credit scores to determine their likelihood of paying their rent or mortgage on time. With a higher credit score, you’ll be deemed a reliable borrower! 

How to Maintain Your 812 Score

Check out a few tips that can help you maintain your higher credit score. 

Pay Debts and Bills on Time 

The most important habit you should maintain to keep a great average credit score is to make all your monthly payments on time. Payment history is the most influential factor in your credit score, contributing a whopping 35% of your total score! 

Watch Your Credit Utilization Ratio 

Keep your credit utilization low, about 30% or lower. Habits like not spending your full credit limit every month and paying off your balances in full will help you keep a low credit utilization. 

Keep a Healthy Credit Mix

If your credit report is already in good shape, you may want to start diversifying your credit portfolio. You may also consider investing in stocks, bonds, or mutual funds. About 61% of Americans have invested in the stock market.2 

Keep Credit Accounts Open

Keep your credit accounts open, even if you don’t use them regularly. Closing credit accounts like credit cards can actually end up lowering your average credit score!

FAQs About 812 Credit Scores

Yes, multiple credit inquiries in a short period can slightly lower your average credit score due to hard inquiries by lenders, but the impact is usually temporary.

Many insurers use credit-based insurance scores in their pricing models. A high score like 812 can lead to lower premiums on auto and homeowners insurance.

With an 812 credit score, lenders view you as low-risk, granting you more leverage to negotiate lower interest rates, better terms, and waive certain fees, enhancing your borrowing conditions.

What Interest Rate Can I Get With an 812 Credit Score?

An 812 credit score is a part of the highest credit ranking tier. That means consumers with this average credit score are among some of the most financially stable individuals out there. Since lenders always want to work with financially responsible borrowers, they often offer lower interest rates to borrowers with a good credit score to make their loan products more enticing. 

With your 812 credit score, you should be one of the most sought-after types of consumers lenders want to work with. Therefore, you should expect some of the lowest interest rates available! However, keep in mind that final terms and rates depend on other factors besides your average credit score like income, assets, existing debts, etc. 

Can I Buy a House With a 812 Credit Score?

Buying a house isn’t exactly an easy process, no matter what your FICO scores are. But, with a higher credit score like 812 on your side you may find the process to be a lot more streamlined. Check out the step-by-step list of how you can go about buying a home below: 

  1. Look at your budget and set a down payment plan: Take a look at your current expenses, including bills, loan payments, and any other recurring financial obligations. Next, decide how much money you can afford to contribute towards a mortgage as well as a down payment. Remember, submitting a larger down payment may help you save money down the line, so be sure to plan carefully. 
  2. Find a real estate agent: A real estate agent is a person who helps people find their ideal home. They can help you find a home that’s in your neighborhood, priced within your budget, and with any desired features you may want, such as a large backyard. 
  3. Look at homes: Talk to your real estate agent about what type of home you are looking for and start looking at properties! 
  4. Credit score check and mortgage pre-approval: After you find the home of your dreams, it’s time to apply for a mortgage. The lender will check your credit report and most likely base many loan details on your credit history and average credit score. However, with a really good credit score like 812, credit score approval most likely won’t be an issue for you. 
  5. Submit an offer: You should next submit an offer to the current owners. Talk to your real estate agent to make sure your offer is competitive but still strives to get you the best deal. It may take a few days or more until you find out if your offer is accepted. 
  6. Get a home inspection: If your offer is accepted, have an inspector come to the home and review its integrity. This should include checking out the foundation, plumbing, electrical, and other core house elements. If there are major issues, talk to the current owners about having those issues fixed, or having the repair expenses deducted from the total cost of the home. 
  7. Have the home appraised: The next step is to have an appraisal done. A separate inspector will come to the home and assess its value. 
  8. Get homeowners insurance: Next, you will want to get homeowners insurance. Many mortgage lenders will not close a deal until the borrowers have insurance set up. 

Close on the home deal and move in: The last step is to close on the loan and move in. After you sign your loan contract, the home is officially yours, congratulations!

Top 5 Resources for an 812 Credit Score

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