What Is the Highest Credit Score?

What is the highest credit score one can achieve? It’s an interesting question, and it gives rise to other interesting questions about credit scores, some of which will be addressed here. To learn about the highest credit scores and what they mean, read on.

What Is the Highest Credit Score?

What’s interesting about this question is that no one knows the answer for sure. In the first place, there are several hundred formulas used to calculate credit scores. In other words credit scores can be calculated differently from one another. Secondly, there is no “top score,” so it’s hard to say what the highest score might be. All we can say is the highest score on the end of the spectrum or range for the particular score you are looking at.

Asking the Right Questions About Credit Scores

However, finding out what the highest credit score is and attaining that number is not necessarily worthwhile goal. The premise is a good one, but lenders do not award you extra points for being the highest score. The purpose of the credit score is so that a lender can assign you to a risk category. Good risks, means a smaller percentage of people in your group default on their loans, or neglect to repay it. If you’re in the best risk category, you will likely get the loan you want at a preferred interest rate. There may be some slight advantages to obtaining a supremely high score over a merely high score, but your real goal should simply be to get yourself in the most favorable risk category, and you don’t need the highest score in recorded history to do that.

Getting a High Credit Score

There are many ways to improve your score. Including taking care of outstanding, unpaid debts, making sure all your payments are made on time over a long period of time, and creating a more favorable debt to income ratio. Your first move will be to get a copy of your credit scores and credit report. You can get these in a number of ways. If you want to get scores for all three credit reporting bureaus for free, you can get them from CreditScore.com.