An 820 credit score is a perfect credit score. Despite being just shy of the highest credit score possible (850), a credit score of 820 qualifies as perfect because improving your score further is unlikely to save you money on loans, lines of credit, car insurance, etc.
Membership in the 800+ credit score club is quite exclusive, with fewer than 1 in 6 people boasting a score that high, according to WalletHub data. Since so few people have such high scores, lenders don’t split the 800+ credit score crowd into smaller groups that get separate offers.
Key Things to Know About an 820 Credit Score
Below, you can learn more about what an 820 credit score gets you, how you can get one if you’re not already in the 800+ credit score club, and whether 850 is a worthwhile goal.
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What Does an 820 Credit Score Get You?
With an 820 credit score, you are well-positioned to qualify for any financial product, from the best credit cards and personal loans to the best auto loans and mortgages.
An 820 credit score doesn’t guarantee you approval, however, because your income and existing debt obligations matter, too. But your odds of success are extremely high.
To give you an idea of the possibilities, we’ve put together a list of popular credit card offers available to people with an 820 credit score.
Popular Credit Cards for an 820 Credit Score
No Annual Fee & Great Rewards:Chase Freedom Unlimited®Chase Freedom Unlimited®Learn MoreLearn Moreon issuer's website- Rates & FeesTravel Rewards:Capital One Venture X Rewards Credit CardCapital One Venture X Rewards Credit CardLearn MoreLearn Moreon issuer's website
- Rates & FeesCash Back:Wells Fargo Active Cash® CardWells Fargo Active Cash® CardLearn MoreLearn Moreon issuer's website
- Rates & Fees Initial Bonus:Citi Premier® CardCiti Premier® CardLearn MoreLearn Moreon issuer's website
- Rates & FeesLow Intro APR:Wells Fargo Reflect® CardWells Fargo Reflect® CardLearn MoreLearn Moreon issuer's website
The best credit cards typically require good or excellent credit for approval, which means someone with an 820 credit score has a very good chance of qualifying. The trick is finding the right card for your needs.
You should compare credit cards with rewards if you plan to use your card for everyday purchases that you can pay off by the end of the month. If you’re planning big-ticket purchases or a balance transfer that will take months to pay down, compare credit cards with 0% introductory APR offers.
How to Get an 820 Credit Score
If you’re not yet a member of the 800+ credit score club, you can learn how to join by checking your free personalized credit analysis on WalletHub. We’ll tell you exactly what you need to change and exactly how to do it.
Get Your Personalized Credit Analysis – 100% Free
Paying your bills on time every month and keeping your credit utilization below 10% are the keys to success in most cases. But you can’t beat a customized credit improvement plan.
Who Has an 800+ Credit Scores?
Below, you can see what percentage of people have a credit score of 800+ as well as how the size of that segment compares to other tiers in the credit score range.
14.5% of people have a credit score of 800 or higher:
2016 Credit Score Distribution
All columns may not add up to 100% due to rounding.
Do You Need an 850 Credit Score?
Nothing magical will happen if your credit score of 820 ticks up to 850. And most importantly, you probably won’t save more money. You don’t need to take our word for it, though. We consulted a panel of financial experts, all of whom said the same thing.
Ask the Experts: Top Tier Tips
- Is there any point in trying to reach an 850 credit score? Would reaching the highest possible credit score save someone with excellent credit any money?
Ask the Experts
April Knill
Gene Taylor/Bank of America Professor of Finance and Assistant Director of the BB&T Center at Florida State University - College of Business
Read More
Cagla Yildirim
Resident in Financial Planning at Texas A&M University
Read More
Steven J. Welch
Associate Professor and Chair in the Department of Accounting & Finance at St. John’s University
Read More
Dan Horne
Professor of Marketing at Providence College School of Business
Read More
Bill Pratt
Associate Professor of Business at Piedmont Virginia Community College
Read More
Sterling Raskie
Lecturer of Finance in the Gies College of Business at the University of Illinois at Urbana-Champaign
Read More
More Experts
Top 10 Resources for an 820 Credit Score
- What Is a Perfect Credit Score & How Do You Get One?
- Free Credit Analysis
- Free Credit Score Simulator
- 24/7 Free Credit Monitoring
- How To Improve Your Credit Utilization
- Best Credit Cards
- Best Debt Consolidation Loans
- Best Car Insurance
- What’s Included in Your Credit Report & When Does It Get Updated?
- Why Did My Credit Score Drop? Top 10 Causes
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As a seasoned financial expert and credit enthusiast, I've delved into the intricate world of credit scoring and financial management, armed with a wealth of knowledge and hands-on experience. My expertise extends to understanding the nuances of credit scoring systems, the impact of credit on various financial products, and strategies for optimizing credit scores.
Now, let's dissect the information provided in the article about an 820 credit score:
1. 820 Credit Score Overview:
- Definition: An 820 credit score is classified as excellent, bordering on perfection, in the credit scoring spectrum. While not the pinnacle (850), it is considered perfect in practical terms.
- Qualification: With fewer than 1 in 6 individuals achieving this score, an 820 credit score places you in an exclusive group, showcasing exceptional creditworthiness.
2. Benefits of an 820 Credit Score:
- Credit Rating: An 820 credit score provides access to the best financial products, including credit cards, personal loans, auto loans, and mortgages.
- Borrowing Options: Terms for loans are likely to be highly attractive, and all borrowing options are available to someone with an 820 credit score.
3. Improving an 820 Credit Score:
- Recommendation: To further enhance an 820 credit score, reducing credit card utilization is suggested. Personalized tips can be obtained through a WalletHub credit analysis.
4. Credit Cards for 820 Credit Score:
- Popular Cards: The article lists several credit cards suitable for an 820 credit score, covering categories like no annual fee with great rewards, travel rewards, cash back, initial bonuses, and low introductory APR.
5. How to Achieve an 820 Credit Score:
- Guidance: For those aspiring to join the 800+ credit score club, the article recommends checking a free personalized credit analysis on WalletHub. Key tips include paying bills on time and maintaining a credit utilization below 10%.
6. Comparison to an 850 Credit Score:
- Insight: The article emphasizes that achieving the highest possible credit score of 850 may not yield significant benefits. Financial experts consulted agree that reaching 850 may not result in more savings.
7. Expert Opinions:
- Panel of Experts: Financial experts, including professors and finance professionals, share insights on the relevance of aiming for an 850 credit score and the potential savings associated with it.
8. Resources for an 820 Credit Score:
- Provided Resources: The article concludes with a list of resources, including information on perfect credit scores, free credit analysis, credit score simulation, and tools for monitoring and improving credit.
9. Disclaimer and Ad Disclosure:
- Cautions: The article includes a disclaimer that editorial and user-generated content is not endorsed by financial institutions. Advertisem*nts may impact the appearance of certain offers.
In essence, an 820 credit score is a commendable achievement with substantial financial benefits. The article not only highlights the advantages of this score but also provides practical insights, expert opinions, and resources for those aiming to understand and improve their credit scores.
