You might be wondering how to achieve a specific credit score, but there’s no exact formula to reach that perfect number.
Having excellent credit can mean that you’re more likely to get approved for car loans with the best rates, but it’s still not a guarantee.
Having excellent credit is one of the first steps to getting a great mortgage rate. But there are other factors at play here too, like the total cost of your home and your debt-to-income ratio.
With excellent credit, you could be eligible for some of the best credit card offers.
Practically speaking, your excellent credit should qualify you for the best credit cards, loans and mortgages.
FICO scores range from 300 to 850. As you can see below, a 791 credit score is considered Very Good.
Most lenders will lend to borrowers with scores in the Very Good range. With a score of 791, your focus should be maintaining your credit status to make sure you get the best interest rates available.
Credit scores in the Very Good range often reflect a history of paying your bills on time. However, you still may have some late payments or charges offs reporting.
It’s important to pay down your balances and keep your credit utilization under 30%. It’s also wise to have a mix of installment and revolving accounts.