By CreditNinja
Modified on May 15, 2024

FICO, a credit-scoring company commonly used by lenders, classifies an 822 credit score as “excellent.”

Excellent credit scores range from 800 to 850 points.

Very few people have such an exceptional credit score. According to FICO, the average credit score in 2023 was 715.¹ If your score is 822, you have a better score than most American consumers. If you want to know more about the types of quick cash loans and terms you can get with this credit score, keep reading! 

Key Takeaways for an 822 Credit Score

Overview of Your
Credit Rating

An 822 credit score is excellent. Although the highest credit score possible is 850, many lenders would consider 822 to be perfect.

Borrowing Options With an
822 Credit Score

Your borrowing options may be unlimited with an excellent credit history. You are likely to get approved with almost any financial institution.

Maintaining an 822
Credit/FICO Score

You can retain your exceptional score by keeping your credit card debt low, limiting your credit inquiries, and avoiding late or missed payments.

Is an 822 Credit Score Good?

A “good” score is classified differently by the credit scoring model. A good FICO Score ranges from 670 to 739, while a good Vantage Score ranges from 661 to 780. If your current score is 822, you have an exceptional credit score significantly higher than the average credit score! Financial institutions prioritize exceptional credit scores, so you may get the lowest APRs and best financial offers.

What Can You Get Approved for With an 822 Credit Score?

You may get approved for the following financial products with a good credit score: 

Personal Loans

Personal loans offer eligible borrowers small or large installment loans–typically within one business day. A personal loan is convenient because it can be used for all types of unexpected expenses, such as new car tires, medical debt, or house repairs. You could get a great loan offer if you have a high FICO Score. 

Bank Loans

Banks tend to specialize in offering large loans, such as mortgages, home equity loans, and lines of credit. As someone with a fantastic credit history, you could qualify for most bank loans and get attractive rates. However, keep in mind that approval processes for bank loans are generally longer. 

Credit Cards

Credit cards are a valuable financial tool for borrowers who want a revolving credit account. While credit cards are convenient, they can be pricey. Credit accounts typically have higher interest rates than installment loans. They can easily result in a debt trap if not used wisely. 

According to Bankrate, 56 million people have been in credit card debt for at least one year.² But if your score is significantly above the average credit score, you could get the best APRs on unsecured credit cards. 

These are some of the best credit cards for excellent FICO Scores:

  • Capital One Venture X Rewards Credit Card
  • Chase Sapphire Reserve®
  • Blue Cash Preferred® Card from American Express
  • Costco Anywhere Visa® Card by Citi
  • Discover it® Cash Back
  • U.S. Bank Altitude® Connect Visa Signature® Card

Auto Loans

You could be eligible to buy a car with an 822 credit score. Auto loans are secured by the vehicle, so lenders tend to work with all credit scores. However, a high credit score can help you get the absolute best rates to significantly reduce your monthly loan fees

Products To Help Maintain an 822 Credit Score

You can use these helpful products to maintain your good credit score: 

Credit Monitoring 

Monitoring your credit scores can help you stay aware of fluctuations. But surprisingly, many people don’t know how to get their credit scores. According to an NFCC study, 54% of adults believe their credit scores can be found on a standard credit report.³ Credit scores are not displayed on credit reports. Still, they can typically be found on your monthly loan or credit card statements.  

Budgeting Apps

A budgeting app can make it easier for you to manage your finances, which directly affects your credit scores. Various budgeting apps are available on the App Store and Google Play Store. The best app for you depends on your desired features and financial goals.  

Here’s a quick chart comparison of three popular budgeting apps:

Feature

YNAB

PocketGuard

Goodbudget

Expense Tracking

Yes

Yes

Yes

Budget Creation

Yes

Yes

Yes

Bill Management

Yes

Yes

No

Goal Setting

Yes

Yes

Yes

Reports and Analytics

Yes

Yes

Limited

Bank Syncing

Yes

Yes

No

Debt Tracking

Yes

No

No

Multi-Device Sync

Yes

Yes

Yes

Additional Features

Detailed educational resources

Spending limits

Envelope budgeting without bank sync

Price

$14.99/month or $99/year

Free basic, Premium: $4.99/month or $34.99/year

Free basic, Plus: $7/month or $60/year

Automatic Payments

Autopay is a useful online feature that many financial institutions offer. By signing up for autopay, you agree to let the business automatically charge your debit or credit card on file on your specific monthly due date. Autopay makes it easier for borrowers to avoid late payments, which can appear on credit reports and negatively affect credit scores. 

Benefits of an 822 Credit Score

These are the benefits you could get with an 822 credit score:

Safety Net

One of the benefits of having a high credit score is that minor–or even major–fluctuations may not affect you as severely as they would if you had a lower score. Suppose you submit a loan inquiry, and your score drops ten points. Your updated score would be 812, which is still within the “excellent” credit range!  

Lower Interest Rates

You could qualify for the lowest rate available if your current score exceeds the average credit score! A low APR can significantly reduce your total loan amount and your monthly interest fee. Your excellent score indicates to lenders that you are financially responsible, so they may offer low rates to work with you. 

More Housing Options

Borrowers with excellent credit scores typically have more housing options available to them. Most landlords prioritize applicants with good or excellent credit because they are more likely to pay rent on time. So you may get quick approval for almost any rental property! You may even qualify for a lower security deposit due to your low credit risk. 

How To Maintain Your 822 Credit Score

Here are a few ways you can maintain a higher credit score: 

Monitor Your Credit Usage

You may notice that you get higher credit limits with a higher credit score. While using your sizable credit limit for costly purchases is tempting, remember that using too much credit can increase your credit utilization ratio and decrease your 822 credit score.

Credit utilization is the difference between your total credit limits and your total credit card debt. Most financial experts advise consumers to avoid using more than 30% of their overall credit limit. A high credit utilization percentage can decrease your credit score and label you as a high credit risk to creditors. Keeping an eye on your credit utilization and maintaining a low credit card balance can help you maintain your current credit score. You can use online financial calculators to determine your credit utilization.  

Limit Inquiries 

You may be tempted to apply for additional loans and credit cards, knowing your high credit score gives you access to the best financial offers. However, multiple credit inquiries can significantly decrease your 822 credit score. You may return to an average credit score if you have more than six credit inquiries on a credit report. Remember that a credit inquiry will remain on a credit report for up to two years.

Avoid Closing Accounts 

You may have old credit accounts you no longer use and may be tempted to close them. However, closing an old credit account will change the average length of your credit history. You may end up decreasing your 822 credit score. It’s better to leave an old credit account open and use it at least once every month to prevent a credit card company from closing it due to inactivity.

FAQs About 822 Credit Scores

Your debt-to-income ratio (DTI) measures your total monthly debt payments against your income. By paying down your debts, especially larger or high-interest debts, you can lower your DTI. This improvement can enhance your creditworthiness and potentially lead to a higher credit score, making you more attractive to lenders.

Yes, making extra payments on your debts can reduce your total debt burden faster and decrease your credit utilization. If managed wisely, this can contribute to maintaining or even boosting your exceptional credit scores, as it reflects good debt management and financial reliability.

If you foresee difficulty in making a payment, it’s crucial to contact your lender as soon as possible to avoid credit dips that lead to an average credit score. Many lenders may offer modified payment plans that can prevent adverse reports to credit bureaus. Keeping open communication can help protect your excellent score from going down to an average credit score.

Strategies like the debt snowball (paying off debts from smallest to largest balance) or the debt avalanche (targeting the highest interest rates first) can both effectively reduce your debt but may influence your credit score differently. Prioritizing high-interest debt often saves on interest payments and can more rapidly improve your credit health.

What Interest Rate Can I Get With an 822 Credit Score?

An 822 credit score can help you get the best rates on home and car insurance, loans, and credit cards! Rates are typically only high for low-credit borrowers because lenders need to lower the lending risk. But if you have a good credit history of on-time payments and responsible credit management, you are likely to get attractive loan offers with low rates.  

Can I Buy a House With an 822 Credit Score?

If you have an excellent credit score, you could qualify for a conventional mortgage. Conventional mortgages are not backed by a government agency, so they have stricter credit score requirements. Conventional mortgages are more common, so borrowers have more lending options to choose from. As someone with excellent credit, you can take time to find the best loan offer for your financial needs.  

Top 5 Resources for an 822 Credit Score

Related Credit Scores

810  812  815  818  820  830 840  844  850