How to get a perfect credit score

Having a perfect credit score is not something which everyone strives to obtain. It is not something which many people believe can even happen. Many people should know that anything is possible including having the perfect credit score. There is not a big secret when it comes to having a perfect credit score. The only secret is to understand how to take care of your credit record.

What is a perfect credit score?

Many people think that having the highest credit score means having a score of 850, which is the highest FICO score which anyone can have. A perfect credit score does not have to be the maximum credit score. It can be any score ranging from 760-850, and a person with a credit score within this range, will still receive the same benefits as those individuals with a credit score of 850. Characteristics of a person with a perfect credit score The type of person who would usually have a perfect credit score is an older adult who is an overachiever, and a little conservative with their spending habits. A person who has a perfect score is a very humble person, they do not go around bragging about how good their score is. The people who have a perfect credit score make up less than 1% of the U.S. population. So, there are not many people who have maintained a perfect score.

How to get a perfect credit score?

Good payment history Making regular and on-time payments is so important to a person’s credit score, because a large portion of a credit score is based on payment history. Credit cards may be used on a regular basis. However, they must also be paid off on time with no exceptions. Have a variety of accounts It is good for a credit report to reflect installment accounts and revolving account. An installment account consists of mortgages or car loans, and a revolving account consists of credit cards or lines of credit. The credit bureaus like to see consumers being able to handle multiple types of accounts. It shows that they can balance the different types of payments, and be responsible with their account activity. Limit the credit inquiries A person trying to obtain a perfect credit score should not just open credit accounts for fun. It is good to only apply for credit cards as they are needed. A high number of credit inquiries will not make someone have less than perfect credit. However, it will slow a person down from getting a perfect credit score.