In 2023, the average credit score in the U.S. was 715, but achieving a score of 800 or above is considered exceptional and can significantly enhance your borrowing power. The author shares their personal experience of reaching an impressive credit score of 820 through diligent financial habits. Key strategies include staying current on bills, keeping credit card balances low, and regularly reviewing credit reports for inaccuracies or fraudulent activity. By budgeting effectively and utilizing autopay for bills, the author ensures timely payments, which is crucial for maintaining a high score. They also emphasize the importance of credit utilization, recommending that individuals keep their usage below 30% of their total credit limit. Additionally, the author suggests becoming an authorized user on a family member's credit card to benefit from their positive payment history and requesting higher credit limits to further improve utilization ratios. With patience and consistent effort, anyone can achieve a credit score above 800.
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