How to Get a Perfect Credit Score

There are certain things that we discover are just an illusion as we grow up: Santa Claus, the Easter Bunny and the Fountain of Youth are a few. However, much like Big Foot, one myth that persists well into adulthood , is the perfect credit score. Some swear they’ve seen it, others think it’s impossible.

“Never in my life have I met anyone with an 850 credit score,” Bruce McClary of Clearpoint Credit Counseling Solutions, who has worked in the credit industry for years, tells MainStreet.

According to FICO, the company that designed our current credit model, these overachievers are out there. Craig Watts, senior manager for Public Relations for FICO, tells MainStreet that while most people score in the middle-to-low 700s on their credit scale, less than 1% of the U.S. population (about 1 million people) do, in fact, net a full score of 850.

“They tend to be more conservative and a little older,” Watts explains. He adds that these individuals also tend be rather humble, which may explain the near mythic status they have inadvertently achieved.

“We don’t get too many of them in our forums,” he admits. “They aren’t the type of people who stand up on a bus and tell everyone they scored an 850.”  

People who don’t share their score aren’t likely to share their secrets for attaining it either. Which is unfortunate, considering that the credit elite obtain the lowest annual percentage rates, get the best credit card rewards programs and qualify more readily for large loans.

“It’s a noble goal to try to achieve,” McClary says. However, he explains that you don’t need to reach perfection to be considered among the credit elite.