WHAT’S THE HIGHEST POSSIBLE CREDIT SCORE?

September 11, 2015 /276

 

It’s no secret that everyone wants to have a high credit score, and that most people will always want to improve their credit score in one way or another. For some people, having what is considered to be a good credit score isn’t enough. No, they’ll want to have a perfect credit score.

But what really is that, anyway?

 

The answer is that the highest possible credit score can vary greatly, all depending on which credit reporting agency you’re talking about. Since there are multiple credit reporting agencies, and each agency has its own unique way to scale credit, the top possible score can vary.

 

  • Most of the main credit reporting bureaus, including VantageScore (3.0), FICO, and Equifax all cap their credit rating limits at 850. So, if you found out that you had a credit score of 850 on at least one of your repots, chances are high that it will not get any higher. After all, you can’t really improve on perfection.

  • The highest possible credit score someone can have on the old Vantage Score scale is a 990.

  • With Transrisk, you can have a maximum score of 900.

  • PLUS Score, which isn’t as well-known as Vantage or Tranrisk, carries a maximum credit score of 830.

 

There are several things that should be noted about the entire concept of a credit score. First, it’s totally possible that you could have a  perfect credit score dip temporarily for little to no reason. It’s actually common enough, and it’s partly due to glitches in algorithms. It’s also important to realize that it often takes decades of perfect behavior before you can reach a perfect score.

 

We  want to emphasize that you do not, by any means, have to have a perfect credit score in order to reap the rewards of good credit. Many people can get great deals on loans, credit cards with quality benefits, and even discounts on mortgages thanks to a credit score above 700. Even so, we’ve always noticed that the desire to have a perfect credit score can be a great motivator to improve your credit and work towards your goals.

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