How to have
A 850 Credit Score
How Anyone Can Get a PERFECT 850 Credit Score [2019]
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hey guys so if you want to learn how
they get the perfect 850 credit score
then this video is for you I'm a flight
hacking expert who's traveled to more
than 39 different destinations for free
using credit card points keep watching
this video till the end because I'm
going to show you step by step how to
boost your credit score fast so kick
things off first of all if we want to
get to an 850 credit score we need to
know what is our credit score so if you
have an American Express card Discover
card or a Citi card you can log in there
and they'll give you your credit score
for free on their online portals you can
also register for credit karma and
they'll do a free credit score online
and finally annual credit report.com
allows you to get your credit report
from all three bureaus for free once a
year so to kick things off let's just
talk about where did the credit score
come from and the original credit score
was developed by the Fair Isaac
corporation and now it's known as the
FICO score and it's used by the three
major credit bureaus to determine how
likely you are to repay your bills
credit scores themselves they range from
a three hundred all the way up to an 850
looking at the distribution overall any
credit score that's above a six seventy
is considered good anything in a six
seventy to three hundred range is
continued to either fair or very poor if
you're in the group of fair or very poor
and want to boost up your credit score
check out this video up here I talked
about secured credit cards and that's
one of the best way to build your credit
score really fast but for the rest of us
if we're in that six 70 and above range
this is our opportunity to get that
loose of eight hundred fifty credit
score now the truth is that perfect 850
credit score isn't gonna really make a
big difference when it comes to getting
the top credit cards or the top mortgage
rates the truth is if you have a 760 or
above you're going to qualify for all
the best mortgage rates and all the best
credit cards
so going from 760 up to 850 is
definitely gonna win you bragging rights
and even if it's not gonna get us
anything else in terms of credit cards
or mortgage rates for everyone else
these tips are going to help you boost
your credit score maybe from a seven
thirty up to a seven sixty or four seven
sixty up to an eight hundred and hi
your credit score is but whether it's
going to be for you overall because you
never know how life can throw obstacles
at us and sometimes our credit
utilization may go a little too high
which will have a negative effect on
their credit score but overall the
higher our credit score the better it's
going to be for us because it saves us
money on interest rates on credit card
sign the bonuses on all sorts of
different things where the Fair Isaac
score really comes in so now let's talk
about step by step how to get that 850
credit score we're going to go over six
main components to get that 850 credit
score in order of importance so the
first and most important one is credit
utilization so what this means is how
much of your available credit
are you using so say for example we have
five different credit cards each with a
balance or a credit limit of $10,000 and
their total credit limit is $50,000 for
us to score an 850 we need to keep our
credit utilization in a 0 to 9 percent
range so that means our total available
$50,000 we can only have up to $10,000
on our credit cards when they say on our
credit cards I mean I don't mean holding
a balance what I mean is actually
spending money on that car even if
you're like me and you pay off your
balance every month but you spend over
$10,000 in a single month that's going
to negatively affect your credit score
so the way to get that 850 score is say
you spend $15,000 and it puts you at a
higher than 9 percent utilization what
you can do is go in and make a payment
early so reduce a balance down to say
$5,000 that look at you into the 5
percent range make a payment $10,000 or
make a payment of $12,000 and they'll
get you into that zero to nine percent
rate it takes a lot of work to pay off
balances early and keep track of things
but to get that perfection of the 850
score this is what you have to do so the
second ranking factor is payment history
so this basically means do you pay your
credit card bill every month an easy way
to ensure that that happens is you set
up auto payments I have all my credit
cards set up for other payments I pay
off the entire balance every single
month to get a perfect 850 need a
hundred percent payment history now when
you pull up your credit report and you
see that there is a late payment or a
payment missed what you can do is file a
report with the credit bureau and have
that removed that's something that I
found was on my credit score my credit
report early on
and I got those removed and it's really
helped me boost up my credit score so
the third ranking factor are derogatory
marks basically what that means is if
you've ever had a bill sent to
collections if you've ever been kicked
out of your apartment for not paying any
sort of bankruptcies defaults
foreclosures anything like that it's
gonna show up on your credit score and
it's going to prevent you from giving
that 850 you need to have zero
derogatory marks again if there are
mistakes you can go and file for removal
on the annual credit report.com and also
even if there is a derogatory mark on
there sometimes you can ask for them to
remove it and if it's been enough time
they'll give you some leaned and so you
don't light either remove these from
your credit report one thing to be aware
of is sometimes we go to the dentist or
the doctor and they'll send us a fail
and we assume that insurance is taking
care of it and it turns out it's 30 60
90 days and we get these collection
notices in the mail I'm like well we
have insurance we're paying these giant
premiums why aren't these bills being
paid and it turns out that even the
doctor hasn't claimed it from insurance
or we were supposed to pay them and
didn't but either way these are the
types of things that really slip up and
show up on your credit report that can
be negatively impacting your score so
it's really important you pull up your
annual credit report.com
we're putting the link down below check
out that report make sure there's
nothing like this I need to sort of
random thing just to make sure this
could be what's holding it back from
that perfect score so the number for
ranking factor is credit history so to
get a perfect 850 we need to have nine
plus years of credit history so the only
thing we can do is to wait and for that
now on your mark to hit but if you're
young if you're in college if you're
still in high school even you could
start building your credit score now so
say you got your first credit card at
sixteen nine years later at 25 once
you're at a college you can now qualify
for that 850 credit score I'm gonna put
a link up here for my best store their
credit cards these are really gonna help
you start building credit they're really
easy to get approved even if you have no
we're limited credit history and so
perfect way to hit that nine-year mark
just by getting started early so the
number five ranking factor is total
number of credit accounts so these can
be bank loans auto loans any sort of
thing like that and what you need to
have is 21 plus total accounts so say
you're sitting at 17 accounts you've got
all your favorite credit cards you've
got all the
bank loans you can handle i wouldn't
recommend going out and applying for
four more accounts just to his hit that
threshold this is a low ranking factor
I'm more so pay more attention to
reducing my utilization removing any
derogatory marks making sure all of my
payment history is on time don't really
focus on that 21 plus I will say that if
you have nine years and you only have
three credit cards that's definitely
gonna have a negative impact on your
credit score so that's when you want to
go and start applying for new credit
cards I'm going to be putting up a
playlist right after this video talking
about the top credit cards of 2019 all
with the highest signup bonuses so check
those out if you want to move your
credit score total credit accounts from
say a 3 to a 7 or 7 to a 14 or something
like that and finally the sixth and our
least important impact on your total
credit score is number of credit
enquiries you've done in the past 30
days so whenever you apply for a credit
card apply for rent apply for any sort
of line of credit they're gonna check
your credit score when your credit score
gets checked it gets reduced by maybe 10
or 15 points which is only temporary but
if you're looking at your overall total
850 credit score if you've applied for a
credit card in the past two or three
months there's no way you're going to
get that perfect 850 if you allow the
credit score to regain after these
credit inquiries have ended that's how
you're going to get your perfect 850
credit score so now I'm going to turn it
over to you guys
for everyone out there trying to hit
that 850 credit score which of these
factors are you gonna focus on and
really dive into to get to that perfect
850 now if you've learned anything from
this video make sure the like and
subscribe down below
so you never miss any of our amazing
credit card life hacks we publish new
videos every Monday but right now let's
watch the next video I've got a playlist
right here I'm talking about the top
travel credit cards for 2019 the reason
I got into credit cards is so I could
fly the world for free and I want you
guys to be look do so too so check out
this video and let me know what you guys
think so check out this video see ya
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