Is an 826 FICO Score Good? Understanding this Near-Perfect Credit Score

A FICO score of 826 puts you in rarefied territory It’s an exceptionally high score that less than 1% of people can claim But is an 826 FICO score good? The short answer is yes – it’s about as close to perfect as you can get when it comes to credit scores,

In this article we’ll break down what makes an 826 credit score so impressive, the many benefits it brings and how you can reach this lofty score if you don’t already have it. Let’s dive in!

What is Considered an Excellent Credit Score?

First, it helps to understand credit score ranges so you can see where an 826 lands. FICO scores range from 300 to 850. Here’s how the scores break down

• 300 to 579: Poor
• 580 to 669: Fair
• 670 to 739: Good
• 740 to 799: Very Good
• 800 to 850: Exceptional

So an 826 FICO puts you solidly in the top “Exceptional” category. It’s nearly as high as you can go, with only 24 points separating you from a perfect 850 score.

Overall, a FICO score above 800 is considered excellent. But 826 is excellent even among excellent scores. This near-perfect mark means you have top-tier credit and lenders will want your business.

Key Benefits of an 826 FICO Score

What exactly does an 826 credit score get you? Here are some of the key benefits:

• Easy approval for loans and credit cards: With an 826 score, you’ll have your pick of the top credit card and loan offers. Approval odds are very high. Lenders know you represent virtually no default risk.

• Lower interest rates: That near-perfect score will qualify you for the lowest rates lenders offer. You could save thousands in interest compared to if you had average credit.

• Higher credit limits: Lenders will be comfortable extending you larger credit lines and loan amounts. That gives you more spending power and borrowing flexibility.

• Premium rewards programs: The best travel credit cards, cash back cards, and other rewards programs typically require very good credit. An 826 FICO score unlocks these perks.

• Lower insurance premiums: Auto and home insurers use credit scores in pricing. Excellent credit can earn you the lowest rates and biggest discounts.

An 826 FICO opens doors and provides money-saving opportunities. You’ll be in a lender’s good graces and have financial flexibility. It’s about as good as it gets credit-wise.

What Percentage of People Have an 826 Credit Score?

The 800+ club is very exclusive. Only about 14% of people have FICO scores of 800 or higher. It breaks down like this:

• 850 to 826: 1%
• 825 to 800: 13%

So just 1% of people have an 826 score or better. That puts you in elite company credit-wise if your score reaches this mark.

Such a high score signifies responsible credit usage over many years. Few people exhibit that perfection across all aspects of credit: payment history, amounts owed, length of history, new credit, and credit mix.

Reaching this milestone takes diligence. But the benefits make the effort worthwhile.

How to Get an 826 FICO Score

If you don’t yet have this prized triple-digit score, take heart. With some strategic moves, you can steadily work your way there.

The exact steps will depend on your current score and credit report. But in general, here are some tips for boosting your score toward the 800s:

• Pay all bills on time, every time. Payment history is the biggest factor in your score. Late payments can devastate your score. Automate payments so you never miss one.

• Lower credit utilization. This measures how much of your limits you use. below 30% on each card and overall is ideal.

• Pay down balances. Owing less relative to limits helps lower utilization. Paying down debt also builds positive history.

• Avoid new credit applications. Each application can ding your score a few points. Apply only when needed for a major purchase.

• Monitor your credit. Regularly check your reports and FICO scores. Dispute any errors with the credit bureaus.

• Mix up credit types. Having installment loans like mortgages or student loans along with credit cards shows you can handle diverse accounts.

With diligence and smart credit habits, you can steadily build your score. In time, you can join the 1% with brag-worthy FICOs above 800.

Is an 826 Credit Score Perfect?

You might assume a score that high must be perfect, right? Well an 826 comes extremely close, but it’s not technically perfect according to FICO.

That’s because the maximum score is 850. So while 826 is about as good as it gets, there is still a tiny bit of room to improve – 24 points to be exact.

But for all practical purposes, an 826 is perfect credit. Reaching 850 likely won’t open any new doors or provide additional money-saving opportunities. Once you’re in the “Exceptional” credit range, lenders treat you about the same.

You can certainly aim for 850 just to say you did it. With an 826 already, it may only take small tweaks like lowering balances a bit more. But in the end, an 826 FICO already has you in the top-tier bracket.

Maintaining an 826 Credit Score

Getting to 826 is an achievement. But staying there takes discipline too. A slip-up can cause your score to drop as much as 100 points.

To maintain your rarefied air, keep doing more of what got you there:

• Make on-time payments your top priority every month. Even one 30-day late payment can torpedo your score.

• Keep credit card balances as low as possible, ideally under 10% of your limits.

• Be prudent about new credit inquiries. Apply only when you have a major purchase planned.

• Check your credit reports regularly and dispute errors immediately.

• Consider signing up for credit monitoring or identity theft protection services. These provide alerts that help you protect your credit.

An 826 FICO score provides bragging rights and real rewards. With diligence, you can get there and proudly remain in this top-tier credit bracket.

Frequently Asked Questions about an 826 Credit Score

How is an 826 credit score calculated?

Like all FICO scores, an 826 is calculated based on the information in your credit reports at the three major bureaus (Experian, Equifax, and TransUnion). Scores consider five main factors: payment history, amounts owed, credit history length, new credit, and credit mix. Your precise score is determined by a complex FICO algorithm. But responsible use of credit over time is what can get you to 826.

What credit cards can I get with an 826 score?

An 826 FICO score qualifies you for any credit card. Issuers will want your business and offer you premium rewards cards with excellent welcome bonuses, points-earning rates, and perks. Terms will also be favorable – high limits and low rates. Prime cards to consider with top-tier credit include the Chase Sapphire Reserve, Capital One Venture, or American Express Platinum.

Is an 826 credit score good for a mortgage?

Absolutely. An 826 FICO is excellent for mortgage approval and securing the lowest rates. According to Fannie Mae data, borrowers with scores above 760 qualify for the best rates on conventional loans. And an 826 is well above that threshold. You’ll also have maximum buying power since lenders will approve larger loans for those with exceptional scores.

Does an 826 credit score get you the best car insurance rates?

In most states, insurers use credit-based insurance scores to set premiums. Those with excellent scores typically pay less for auto insurance. The exact discount will vary by insurer. But you should qualify for the top rates with an 826 FICO. Maintaining excellent credit is an easy way to save money on car insurance every month.

How can I raise my 780 credit score to 826?

It will take diligently building positive credit history. The main steps are 1) Always pay all bills on time. One 30-day late payment can drop your score by over 100 points. 2) Get credit card balances as low as possible. Shoot for under 10%. 3) Don’t apply for new credit too often – only do so when needed for a big purchase. 4) Check your credit reports and dispute any errors. 5) Sign up for credit monitoring to protect your credit history. With time and prudence, you can climb from 780 to the 800s and higher.

Is an 826 FICO score worth it?

Yes, an 826 credit score is very worthwhile if you can achieve it. It signifies exceptional credit management and puts you in the top 1% of scores. That earns you easy approval odds, low rates from lenders, premium rewards offers, and savings on insurance. It also gives you financial flexibility and security. Even being at 780 is excellent. But reaching the rare air of 826+ unlocks additional benefits and bragging rights.

Closing Thoughts on an 826 Credit Score

An 826 credit score represents the pinnacle of credit. This Exceptional FICO score proves you are an ultra-responsible borrower who lenders want to do business with.

While bumping up those last 24 points to a perfect 850 likely won’t impact your finances, maintaining your 826 brings rewards. Through diligent credit habits, you can remain in this top-tier category.

Very few people ever reach such rarefied credit air. If you have an 826 score, be proud of your accomplishment. And leverage your near-perfect credit wisely to unlock savings and convenience as you manage your finances.