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How to Become a Member of The 800 Club

What Are The Common Factors of The 800 Club?

 To have an 800+ credit score, FICO’s credit scoring algorithm will be looking for several credit traits.
  • A good combination of different types of accounts. Mortgage, Installment and revolving accounts.
  • Credit Cards – People with high credit scores have limits that average $8000+ and at least 1 credit card account with a limit of $10,000. They also have an average of 8 credit card accounts, including closed accounts.
  • 61% of people with 800+ credit scores have an open active mortgage.


Behavioral Traits of The 800 Club
  • They use credit cards sparingly. Typical balance is 7% of their limit.
  • They are frugal. They tend to drive a lower cost vehicle and have lower insurance cost.
  • Fewer student loans and lower student loan debt.
  • They do not close their credit cards, even when they don’t use them regularly.
  • Diversification to show they can handle multiple types of accounts.


Before You Purchase
  • Know Your Scores
  • Check the Accuracy of all Information: 79% of all credit reports have inaccuracies. 
  • Identity Theft: Make sure you are not a victim!


Your Long Term Financial Health Deserves a Professional

Your credit, and credit scores are connected to your financial world. Life and credit are the same in that there are always multiple solutions to any given situation you face. Always seek the advice of a professional for the best possible outcome.