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What is so important about an 800 credit score? Why is the “800 Credit Score Club”, describing those that have credit scores of 800 or higher, a thing? Is it because it is so hard to join?

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 qualify. At the time of writing, that means 5.268 million Canadians over age 18 might qualify.

Really? Sounds a lot less exclusive when you put it like that.

Of course, you build a credit score with your credit history. Truthfully, most 18-year-old Canadians are just starting their credit building life. With hard work and careful attention to debt, income, and payments, an excellent credit score is possible.

Is A 800 Credit Score Excellent?

Furthermore, scores between 800 to 900 are the highest credit score range and are considered to be excellent credit.

Let’s look at how exclusive the range really is.

It takes time to build a credit score of 800. If you are 25 and have a credit card or other credit product like a mortgage or car loan. There are 25.5 million Canadians between 25 and 100+ years of age. Therefore, 4.25 million can get in the 800 Score Club.

That sounds doable. Why bother, though?

Generally, the higher your credit scores are, the better offers you will get in terms of personal loans and other credit accounts. This can save you thousands of dollars over the course of your lifetime.

However, it takes time, planning, sacrifice and help it takes 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 it’s unlikely you’ll have any problems getting approved for the credit card you want. Remember that credit scores are not the only deciding factor for approval though.
  • Mortgage Rates: You may be able to qualify for the lowest mortgage rates by being a part of the 800 Credit Score Club. Mortgage approval depends on a variety of factors.
  • 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. Again, other factors will be considered.
  • 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 is helpful when applying to rent an apartment, but it won’t be the only factor taken into consideration.
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 build better credit, consider the following.

  • Pay on time all the time. Your 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, with 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 it’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, your best bet is to adopt the financial habits of individuals who are already in the 800 Credit Score Club. It’s important to understand that no one is guaranteed good credit. All credit scores react differently and all credit scores are based on unique credit histories. If you want to work toward building healthier credit, it’s important to implement good habits.

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. 

Monitor Your Finances And Credit

Your ability to handle your personal finances may affect your credit. 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.

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.

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.

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.  

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.
Veronica Ott avatar on Loans Canada
Veronica Ott

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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