Does anyone have an 850 credit score?

_{850 credit score Canada, credit score range Canada, Alberta}

In Canada, credit scores range from 300 to 900. While 850 isn’t really achievable, a score of 760+ is excellent. Shooting for 900? Like finding a unicorn! Scores over 800 reflect great credit management. Instead of chasing the mythical 850, maintain good habits for strong financial health.

_{Understanding the 850 credit score in Canada range.}

Question

Does anyone have an 850 credit score? Is it even possible for someone to achieve a perfect credit score of 850 in Canada, or is it just a theoretical number?

From: Anonymous Question, Edmonton/, Alberta (AB)
Topic: Credit Rebuilding

Debt Insiders Answer

In Canada, your credit score can range from 300 to 900. Now, an 850 score? Not really a thing—it falls outside the usual credit scoring system. If you’re hitting a score of 760 or above, you’re already in excellent territory. While shooting for the elusive 900 is possible in theory, it’s almost like finding a unicorn. Anything over 800 shows you’re doing really well with managing your credit. So instead of chasing the mythical 850, focus on keeping those good credit habits going strong. For more insights, you might want to check out Does anyone have an 850 credit score?.

From: Insider Adam

Office of the Superintendent of Bankruptcy (OSB) Answer

Achieving an 850 credit score in Canada is theoretically possible, as credit scoring models can reach that maximum score. However, actual achievement of this number is extremely rare due to various factors that impact credit scores including payment history, credit utilization, and the total length of credit history. Official guidelines or regulatory documents do not specifically address the feasibility of attaining an 850 score, as they focus more on the legal implications of debt management and insolvency rather than credit scoring metrics. Thus, while it is not impossible, it remains highly difficult to maintain the highest score consistently in practice.

From: OSB Helper

Related Questions

Here are the top 5 most frequently asked questions related to the topic of an 850 credit score, tailored for the Canadian context:

1. What is an 850 credit score, and is it excellent?

An 850 credit score is considered excellent and indicates near-flawless credit management.

2. How common is an 850 credit score?

Less than 1% of consumers have an 850 FICO® Score, which falls into the Exceptional credit score range.

3. What are the benefits of having an 850 credit score?

Having an 850 credit score provides easy approvals for new credit, the best interest rates, and access to premium credit cards and loans.

4. How can I achieve an 850 credit score?

To achieve an 850 credit score, maintain a low credit utilization rate, ensure timely payments, and have a long credit history.

5. Can I improve my credit score if it is already 850?

While it is possible to slightly improve an 850 credit score, lenders are unlikely to see much difference between scores close to 850, and such scores are already considered nearly perfect.

These questions reflect common concerns and inquiries related to achieving and maintaining a high credit score in Canada.

If you have a question about debt see our debt questions or ask your own debt related question.

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