What Percentage of The Population Has a Credit Score Over 900? (2024)

FAQs

What Percentage of The Population Has a Credit Score Over 900? ›

Only 1.31% of the population can achieve a credit score of 850, so there's a certain point where trying to get the highest possible credit score isn't realistic at all. Having good credit can start at around 700. In fact, only a few credit score models have a credit score limit of 900.

To give you an idea of how hard it is to get such a stellar credit score, some experts estimate that only between 1% to 6% of people have credit scores at or above 850. It's very difficult to achieve a perfect credit score of 900.

According to FICO, only 1.6% of the population has an 850 credit score. It's incredibly tough to get there, but reaching an 850 score is possible.

Membership in the 800+ credit score club is quite exclusive, with fewer than 1 in 6 people boasting a score that high, according to WalletHub data.

The average credit score in the United States is 705, based on VantageScore^® data from March 2024. It's a myth that you only have one credit score. In fact, you have many credit scores, because there are many different types of credit scores and scoring models.

Is a 950 credit score possible? In most conventional credit scoring systems, such as FICO and VantageScore, a credit score of 950 is not possible, as they typically have a maximum score of 850. However, some custom or industry-specific scoring models might use a different scale, but they are not as widely used.

Pavelka, 56, has a credit score of 848 out of 850. The letter he got from the credit bureau recently said his score "ranks higher than 100 percent of U.S. consumers." That makes Pavelka a financial anomaly. While an 848 isn't a perfect score, it's as high as most experts have ever seen.

So, what is a good score if you want to buy a house? It depends on the type of mortgage you're seeking: Many loans vary when it comes to the credit score needed to qualify. Generally speaking, you'll likely need a score of at least 620 — what's classified as a “fair” rating — to qualify with most lenders.

Benefits of having an exceptional score

Eligibility for more premium credit cards that could come with better earning rewards, perks and special benefits on travel. Receiving higher credit limits that grant you more purchasing power. Higher odds of approval for important life decisions like renting an apartment.

What is the average credit score for a 50 year old? ›

Average credit score for people in their 50s

The average credit score for borrowers between the ages of 50 and 59 years old is 706. By this time people often have a very long credit history and a full range of credit types that affect the average score.

A 750 credit score is Very Good, but it can be even better. If you can elevate your score into the Exceptional range (800-850), you could become eligible for the very best lending terms, including the lowest interest rates and fees, and the most enticing credit-card rewards programs.

In the FICO (that is, Fair Isaac Corporation) scoring model, scores range from 300 to 850. This number is designed to signal to potential lenders how risky a particular borrower is. If your credit score lands between 300 and 579, it is considered poor, and lenders may see you as a risk.

Key Takeaways

Other factors used to calculate credit scores can disproportionately affect certain racial groups. Credit scores generally favor mortgage holders over renters. White-Americans have the highest average credit scores, followed by Hispanics and then Blacks.

As of July 2024, the average VantageScore 4.0 credit score in the U.S. was 702 — just a one-point increase from a year earlier. A 702 is considered a good credit score, and if your credit score is around the average, you can likely qualify for many credit cards and loans.

A credit score of 1,000 is not possible because the standard credit score range used by FICO and VantageScore is 300 to 850. Other credit scoring models have a high of 900 or 950, but they are industry-specific and only used by certain financial institutions.

While achieving a perfect 850 credit score is rare, it's not impossible. About 1.3% of consumers have one, according to Experian's latest data. FICO scores can range anywhere from 300 to 850.

A credit score of 999 from Experian is the highest you can get. It usually means you don't have many marks on your credit file and are very likely to be accepted for a loan or credit card. However, a high credit score doesn't guarantee your loan will be accepted.

At first, the VantageScore used a very different scoring range, 501–900, but in 2013 it changed its range to be the same as FICO: 300–850. Both use similar scoring factors, although the VantageScore places more weighting emphasis on the length of an individual's credit history.