Few Americans Have Perfect Credit Scores. Experts Say You Don’t Need One

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Few Americans Have Perfect Credit Scores.

Experts Say You Don't Need One By: Liliana Hall Liliana Hall Reporter | Joined March 2025 Liliana Hall joined Money in 2025. She is an Austin-based reporter for Money, where she covers a range of topics, including financial news, policy, banking, investing, passive income, financial planning and student loan debt. Has also written: Best Long-Term Care Insurance Companies of March 2026 Student Loan Interest Rates for March 2026 IRS Delays: These Tax Returns and Refunds Are the Most Likely to Get Held Up in 2026 From Baristas to Influencers, These 68 Jobs Qualify for ‘No Tax on Tips’ How Much Is an Olympic Medal Worth? Record Gold and Silver Prices Are Driving Up Their Value See full bio Editor: Julia Glum Julia Glum Managing Editor | Joined February 2018 A graduate of the University of Florida, Julia has more than six years of experience in personal finance journalism. In addition to overseeing Money’s news coverage, she frequently reports on the ins and outs of credit scores, the credit bureaus and free credit reports. Has also written: When Are State Taxes Due? Here Are the 2026 Deadlines How to Pay for College How to File Your Taxes for Free With TurboTax This Year How to File Taxes for Free This Year From New Deductions to Bigger Refunds, Here Are 8 Major Tax Changes in 2026 See full bio Published: Mar 17, 2026 8:30 a.m. EDT 6 min read Money; Getty Images A perfect credit score might sound like the ultimate financial goal. But a very small percentage of Americans actually have one. According to a spokesperson for credit reporting agency Equifax, just 0.24% of U.S. adults with a credit file — roughly 2 out of every 1,000 people — have a perfect 850 credit score using the VantageScore 4.0 model. At the same time, about 53% of consumers fall within the model's "super-prime" range of 720 to 850. The top of most credit scoring scales, which typically range from 300 to 850, is reserved for folks with near-perfect credit habits, including years of on-time payments, low credit card balances and long, well-established credit histories. Consumers with perfect scores also tend to have an above-average number of credit cards, lower credit utilization rates and lower-than-average total debt, according to Experian, another major consumer credit reporting agency. Ads by Money. We may be compensated if you click this ad.AdTake the first step to improve your creditCredit Saint works with credit bureaus and creditors to resolve issues with your credit report. Why wait? Select your state to start today!HawaiiAlaskaFloridaSouth CarolinaGeorgiaAlabamaNorth CarolinaTennesseeRIRhode IslandCTConnecticutMAMassachusettsMaineNHNew HampshireVTVermontNew YorkNJNew JerseyDEDelawareMDMarylandWest VirginiaOhioMichiganArizonaNevadaUtahColoradoNew MexicoSouth DakotaIowaIndianaIllinoisMinnesotaWisconsinMissouriLouisianaVirginiaDCWashington DCIdahoCaliforniaNorth DakotaWashingtonOregonMontanaWyomingNebraskaKansasOklahomaPennsylvaniaKentuckyMississippiArkansasTexasView Plans On average, Americans use about 28% of their available credit card limits, while people with 850 credit scores use just 4%, according to data from Experian. Maintaining low balances matters because credit utilization accounts for roughly 30% of a FICO score — the credit scoring model used by about 90% of lenders in the U.S. — making it one of the most important factors in the credit-scoring formula. Lower utilization rates signal that a borrower isn't heavily relying on credit, which lenders generally view as a sign of lower borrowing risk. Perfect scorers also have no delinquent accounts on their credit reports, meaning they’ve consistently paid their bills on time. By comparison, about 4.8% of U.S. household debt is currently in some stage of delinquency, according to the Federal Reserve Bank of New York’s latest household debt and credit report. Why you don’t need a perfect 850 credit score Reaching the maximum credit score is rare — and financial experts say consumers don’t need to chase perfection to access the best borrowing terms. “It is not necessary to have a perfect credit score to qualify for the best rates when you’re applying for funding, such as a personal loan, a new credit card or even a mortgage,” Leslie H. Tayne, debt expert and founder of Tayne Law Group, tells Money. “A lot of the time, if the consumer has great credit — within the 780 bracket or even higher — they’ll qualify for the best rate a lender offers.” The average U.S. credit score is about 715, according to FICO data. Although 715 is generally considered "good" as opposed to "very good" or "exceptional," many borrowers are already within the range lenders typically reserve for their best rates. “If you look at the best deals by FICO score, you need a 720 to get the best deals on auto loans and 760 to get the best deals on mortgages,” says John Ulzheimer, a credit card expert formerly with FICO and Equifax. Still, borrowers should aim to improve their credit whenever possible. A higher score can provide a buffer if your credit profile changes — for example, if you temporarily carry higher credit card balances — and help keep your score high enough so you still qualify for favorable rates. The biggest mistakes people make when trying to improve their credit For consumers trying to boost their credit scores, experts say the biggest improvements usually come from focusing on long-term habits, not quick fixes. Think: debt repayment, not balance transfers, Tayne says. Another common misstep is closing older credit accounts, which can actually hurt a borrower’s scores because it may reduce available credit and increase credit utilization. “It’s ironic in some ways that closing a credit account or even paying off a large revolving debt, like a mortgage or car, can actually hurt your score, but it’s true,” Tayne explains. If a credit card is no longer useful to you, she says it may be better to keep the account open rather than closing it outright — especially if it doesn’t carry an annual fee. “The benefit of keeping it open would have to outweigh that fee,” she adds. “However, having a card that you don’t use can contribute to a better debt-to-income ratio as well as your credit utilization percentage.” Borrowers should also be wary of questionable advice online. “Improving your credit is not a mystery,” says Ulzheimer. “When I was at FICO, we would tell people the same thing until we were blue in the face: Make your payments on time, stay out of excessive credit card debt and apply for credit sparingly. Lather, rinse, repeat.” Ads by Money. We may be compensated if you click this ad.AdFind a Credit Repair company that works for youView Plans🥇 Most Affordable Credit Help Company! 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We may be compensated if you click this ad.AdClean up your credit report with Credit SaintView Plans