Credit

What are the perks of having a 800 plus credit score?

Ever since I have started working as a financial writer, I have been flooded with questions on how to fix credit score, how to get a loan with poor credit score or what are the ways to pay off debt with poor credit score. In all these 3 questions, one thing is common and that is credit score.

I have written tons of articles on these topics and answered thousands of readers’ queries regarding how to repair credit. But, surprisingly nobody has ever asked me how to attain 800+ credit score. May be, people think it is out of their reach. But, I don’t think so, at all.

Tricks to have a 800 plus credit score

Yes, I’m not joking. You too can have a 800 plus credit score and you don’t need to be a financial expert for this. What you actually need is to do is follow one single mantra

“Always pay your bills on time to make your credit shine”

Now, the problem is how to pay your bills always on time. Well, here are the 7 tricks which you can use:

  1. Pay your bills as soon as they arrive
  2. Create a budget and allocate funds for bill payments
  3. Mark the last day for bill payment in your calendar
  4. Strikeout holidays in your calendar since you can’t pay bills on those days
  5. Have the required bill-paying supplies in your hand
  6. Check your calendar every day so that you don’t forget to pay bills
  7. Set up automatic bill payment system with banks

Timely bill payments help you prove yourself as a responsible consumer. You can avoid late fees, harassing collection calls, fines and penalties. What’s more important is that you can have a clean credit report, which is a must for achieving a 800 plus credit score.

Perks of having a 800 plus credit score

Believe me when I say that life becomes fabulous once you have a 800 plus credit score. I know empty words won’t convince you. I won’t even try to do that. All I would request you is to check out the 5 perks of having a 800 plus credit score.

Perk 1: Lenders would love to join your hands

When you’ve a 800 plus credit score, lenders would jump to give you a mortgage loan. Yes, you can get a loan any day you want. Lenders know this fact very well that you’re a responsible credit borrower. You’re less likely to default on a loan, which means lenders have a 99% chance to get back their money.

You’re a dream borrower. Lenders are always in search of such borrowers. So you can practically obtain any loan from all the banks. Just make sure you’ve a regular income.

Perk 2: You’ll get fantastic credit card offers

You don’t need to have a 800 plus score to get a credit card. Yes, I know that. Even a person with terrible score can qualify for a secured credit card. But, the higher your credit score, the better chance you have to qualify for the best plastic cards in the country.

Yes, you’ll get the best credit card offers in any part of the country. You’ll get features like reward programs, concierge service, etc. Not only that, you can qualify for credit cards with low APRs too.

Perk 3: You can get the job you want

Now we all know how some employers check your credit report before offering a job. Yes, it’s not enough to be the best student of the college anymore. Your superb grades won’t of any help if you have poor money management skills. Employers want to offer job offers who are smart money managers. After all, if you can’t manage your household finances, then how would you even try to manage a vast company’s finances? This is especially the case when you’re trying for a government job.

A 800 plus credit score can help you get your dream job. Here’s a perfect example of that.

You’re trying for a government job. There are 2 other candidates who are trying for this job as well. You guys have the same qualification but there is a difference in credit score. Your credit score is 805 and the other candidates’ scores are 650 and 710 respectively.

In this particular scenario, you’ll get the first preference. The second preference will be given to the candidate with 710 credit score and the candidate with lowest credit score will get the last preference.

So, what is your current credit score? What steps are you taking to improve it? What kind of problems are you facing? What will be your advice for others? Feel free to share them with me and readers.