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How to Have a Perfect Credit Score: Ways to Improve your Credit Report

By Brian Anderson
Published: Monday, February 11th, 2013

According to an estimate published by Fair Isaac Corporation in 2010, approximately a share of 0.5% consumers reaches the mark of 850 in the FICO score. Despite of the fact that it is really difficult climbing up the ladder from a petty 300 to a whopping 850, there are several people who have successfully crossed the hurdle of 800. FICO published another report in April 2012, which stated that 18.3% consumers have a credit score in the range of 800-850, which is a whopping high ever since October 2008.

While verifying your credit score is almost a mandate for auto loans and mortgages, the less popular circumstances where a credit score plays an integral role are how the premiums of your insurance are calculated and when you want to get hired in a company. Hence, coming to the range of 750 or above has, of late, become a necessity for people here.

Fair Isaac published latest information about the high credit score achievers, mentioning that they exhibit consistent credit habits. In most instances, their first credit account was almost 25 years old; they use only a petty 7% of the total available credit; and have 7 credit cards with an average, with both closed and opened accounts. It is considered that such information will help the aspirants to transform their credit habits and climb up the ladder to cross the 800 hurdles in credit reports.

Talking about how to have a perfect or near to perfect credit score, John Ulzheimer, president of consumer education at SmartCredit.com and a former employee at FICO, advised that people who are aspiring to join the 800 batch, it is important to check the FICO score regularly. By monitoring the progress in your credit report every 30 days, you can identify what credit habits are working and where things need to be adjusted.

To raise your score, try consolidating your credits into a smaller, suitable amount that you can repay regularly. Elsewhere, concentrate on paying almost half of your total credit card bills or loan amount every month. Your fair practice, continued for a few months at a stretch, will pay off well, getting you an improved credit score.

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