Is Being In The 800 Credit Score Club Really That Important?

Is Being In The 800 Credit Score Club Really That Important?

Written by Veronica Ott
Fact-checked by Caitlin Wood
Last Updated March 10, 2022

The “800 Credit Score Club” is a term coined to describe those that have credit scores of 800 or higher, as the name implies. Those who regularly monitor their credit scores know that it can be difficult to achieve scores this high. In fact, membership to the 800 Credit Score Club is so exclusive that roughly less than 1 in 6 people have scores high enough to be in the club. Furthermore, having credit scores between 800 to 900 is the highest credit score range and is considered to be excellent credit.

Generally, the higher your credit scores are, the better offers you will get in terms of loans and other credit accounts, thereby saving you thousands of dollars over the course of your lifetime. However, given how it may be for some to build credit scores this high, is it really worthwhile to be a part of the 800 Credit Score Club?

800 Credit Score Club Benefits

Being in the top tier of credit scores definitely has its perks from credit cards to mortgages to refinancing. Let’s take a look at the benefits of being in the 800 Credit Score Club.

  • Credit Cards: With a credit score of 800 or higher, you will likely be able to get approved for virtually any credit card. In addition, the best credit cards will grant you access to no annual fees, 0% financing, no foreign fees, retail, airline, and hotel benefits.
  • Mortgage Rates: You may be able to qualify for the lowest mortgage rates by being a part of the 800 Credit Score Club.
  • Refinancing: If you’re able to improve your credit and join the club, you may want to consider refinancing older loans as you may be able to qualify for lower interest rates.
  • Car Loans: With a higher credit score you’ll likely have better luck accessing car loan offers with 0% introductory rates.
  • Insurance Premiums: By being a part of the 800 Credit Score Club, you may qualify for lower insurance premiums.
  • Personal Loan Rates: More affordable rates on personal loans may be available to you by having a credit score of 800 or higher.
  • Apartment Leases: Having credit scores in the 800s means that your credit won’t prevent you from getting the apartment you want.
Note: It’s important to understand that credit scores in the 800s will likely benefit you when applying for new credit, a loan, or even an apartment. But, remember that your credit is not the only factor used during the approval process for these products and services.

Healthy Credit Habits Of Members Of The 800 Credit Score Club

When it comes to being a part of the 800 Credit Score Club, there are a few credit habits that most members have. If you’re looking to improve your credit, consider the following.

  • Pay on time all the time. Payment history is one of the most important factors used during the calculation of your credit scores. It counts for roughly 35%. This means you must always pay on time, no exceptions.
  • Be mindful of credit card balances. The relationship between your credit card limit and balance is factored into your credit score. Maxing out your credit limit may impact your credit scores, this is why it’s a good habit to keep your credit utilization ratio low.
  • Don’t close old credit card accounts. The total age of your credit accounts as well as the age of your oldest and youngest accounts are taken into consideration when your credit scores are calculated. This is why i’s good practice to keep your older credit cards open and active.
  • Only apply for credit when absolutely necessary. When you apply for new credit and the lender or creditor performs a credit check, a hard inquiry is listed on your credit report. A hard inquiry can affect your credit scores so applying for new credit only when needed is a good habit to create.
  • Be realistic. Only apply for credit that you can realistically afford and avoid overspending. By doing so, you will be building a healthy and lengthy credit history which is another important component of your credit scores.
  • Make use of various account types. Certain credit scoring models favour individuals who have a variety of account types. Over time, gradually adding different accounts such as credit cards, auto loans, student loans, and mortgages may boost your credit score.
  • Repeat your habits and track your progress. Consistency is crucial when it comes to credit scores, this means that you need to develop good habits, repeat them and track your progress.

How To Get Credit Scores Of 800 Or Higher?

To get credit scores of 800 or higher, you will have to adopt the financial habits of the individuals who are already in the 800 Credit Score Club, as discussed above. Keep in mind that this is a serious commitment that requires dedication and patience. 

Getting credit scores of 800 or higher is difficult, but not impossible. In addition to the habits discussed above, below are some pointers on how to make changes to help build your credit scores. 

Start As Soon As Possible 

Credit scores build over time. The longer you consistently and responsibly use credit the more likely it’ll help build your credit scores. As such, the earlier you start working on your credit, the longer you’ll have to build your payment history and credit history, which are common factors used to calculate your credit scores. 

A good way to start off your credit journey is by getting a credit card as soon as possible.  Not only will you be building your credit history, but you’ll also be developing good habits right away which can be further improved over time. 

Monitor Your Finances And Credit

Your ability to handle your personal finances can affect your credit indirectly. For example, poor budgeting can leave you with insufficient funds to cover your credit card and other bill payments, which in turn can affect your credit. It’s best to monitor your account balances frequently and keep track of your expenses. 

Be sure to also check your credit regularly. Not only will it allow you to better understand your credit position but it will also help you keep track of your credit progress. 


While budgeting doesn’t have a direct impact on your credit scores, creating a budget can help you  better manage your money and spending. This in turn will help you avoid taking on debt you can’t afford, maxing out credit cards, and missing payments. There is no cookie-cutter solution to managing your finances because everyone’s financial situation is unique. Over time, you will get better and better at budgeting per your personal situation which is an essential component of getting into the 800 Credit Score Club.

Creating Debt To Get High Credit Scores

Essentially, the more debt you take on, the more chances you’ll have to work on building your credit. While, credit usage is important to consider, you should always proceed with caution when taking on more debt.

Taking on debt can become somewhat addictive because you’re getting lots of material things, which can be a great feeling in the moment, but at some point, you’ll have to pay for it. While using your credit products responsibly may help build credit, you need to be realistic in terms of what works best for you and be sure that you can afford the debt you’re taking on.

If you take on too much debt, you’ll risk not being able to pay it off which can negatively affect your credit. For this reason, sometimes taking on more debt isn’t worth the potential benefits to your credit scores.

There is a definite trade-off between having good credit scores and being able to pay off debt. Remember, you need to do what’s best for you, being able to repay debt is always more important than higher credit scores.

800 Credit Score Club FAQs

What is the 800 credit score club? 

The 800 credit score club is simply a term used to describe individuals who have credit scores of 800 or above. 

Is a credit score of 800 good?

Yes, those who have credit scores that fall in the 800s have great credit. You shouldn’t have any trouble getting approved for the credit and loan products you need. 

Why do I have a 800 credit score with Equifax but not TransUnion?

 In Canada, everyone has multiple credit scores. Depending on who’s calculating your credit score, the number you get can vary. This is due to two reasons: one, there are a variety of credit scoring models and two, not all lenders report to both credit bureaus. This discrepancy in your credit reports can affect the calculation of your credit scores.

Is A Perfect Credit Score Necessary?

Being part of the 800 Credit Score Club has its perks, but it is not necessary to be successful financially by any means, as many get by without being a member. It is especially not worth the exclusive status if you take on more debt that you can’t pay off. Instead, it is best to strive towards better credit that is realistic for you.

Rating of 4/5 based on 31 votes.

Veronica is a writer who specializes in creating unique and educational personal finance content. She has extensive experience writing blog posts for companies in the financial sector. Veronica's background is in accounting as she graduated from Western University in 2017 with a degree in accounting. She is passionate about using her accounting expertise to help others with their personal finance questions and issues and enjoys using her writing to educate Canadian readers. When Veronica is not writing, she enjoys film, reading, travelling, going to the gym, and listening to music.

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