9/19/2023 0 Comments Highest credit scoreWe also looked into the top MSAs (Metropolitan Statistical Area) to understand which cities have the highest percentage of their respective populations with the highest credit score of 850. As shown in the table below, large metropolitan areas encompassing Boston, New York, San Francisco, southern California, and Washington DC consistently surface for having the “bragging rights” for the largest percent of residents with a perfect 850 credit score. The data also shows that the percentage of the MSA’s population with the highest credit score of 850 has increased over the time period as well. Connecticut, New Jersey, New Hampshire and Minnesota are in the top 10 states for the percent of residents who have a bachelor’s degree. These states also tend to demonstrate other “high achiever” behaviors in areas such as having a healthier lifestyle and higher education levels which likely correlate with sound credit history management behaviours. According to America’s Health Rankings by United Health Foundation, Hawaii, Connecticut, New Hampshire and Minnesota are in the top 10 states in terms of overall health rankings. The top five states with the highest percentage of their respective populations with a perfect credit score of 850 has remained fairly consistent over the past ten years and that percentage has increased with each state over the time period as well. scorable population had a perfect 850 FICO® Score. That compares to 1.5% in April 2018 and 0.8% in April 2013. This slight uptick is not surprising as we have been seeing the average FICO Score on the national population increasing as time since the “great recession” ages. The percent of the population with the highest credit score of 850 is relatively small but has been increasing. As of April 2023, about 1.7% of the U.S. In other words, don’t sweat it if you “only” have an 800 credit score as most lenders are likely to treat you the same if you score in the 800-850 range because your risk of not paying as agreed is very low in these highest FICO Score ranges. Typically, most lenders do not require an individual to have the highest credit score to secure the best loan features. Instead, they set a high-end credit score cutoff (typically in the upper 700’s) where those applicants scoring above that credit score cutoff qualify as a very good credit score and get these most favorable terms. What’s the typical credit profile of someone who has a perfect FICO Score?įICO® Scores are a sequence of three-digit numbers ranging from 300-850* and are based on the information provided by credit bureaus such as Equifax, TransUnion and Experian. Each lender determines the credit score cutoff they require to approve a request for credit and to help them set the terms (interest rate, credit limit, etc.) of the available credit being extended.Telecommunications, Media and EntertainmentĪt FICO we get a lot of questions about credit scoring and what it what it takes to achieve an excellent credit score. Some of the more frequent credit score related questions people ask are around the subject of a perfect FICO® Score:.Scoring Products FICO® Member Score FICO® Resilience Index FICO® Safe Driving Score FICO® Score Open Access FICO® Score X Data FICO® Score XD FICO® Score for International Markets FICO® Score UltraFICO® Score. ![]() Customer Lifecycle Products FICO® Advisors FICO® Blaze Advisor® FICO® Business Outcome Simulator FICO® Card Alert Service FICO® Customer Analytics FICO® Customer Communication Services FICO® Falcon® Compromise Manager FICO® Falcon® Fraud Manager FICO® Forecaster FICO® Small Business Scoring Service℠ FICO® TRIAD® Customer Manager FICO® Xpress. ![]()
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