Many Americans strive for a perfect credit score of 850, but the reality is that only about 1.31% of the population achieves this milestone. The majority of those with perfect scores are baby boomers who have had ample time to build their credit history. While an 850 score can offer some bragging rights, it's not essential for qualifying for the best credit cards or loans. A score above 700 is generally considered good, and above 800 is excellent. To improve your credit score, focus on key factors such as timely payments, maintaining a low credit utilization ratio (ideally under 30%), and managing various types of credit responsibly. Interestingly, research indicates that those with perfect scores tend to have more credit cards, which helps maintain a low utilization ratio. Ultimately, while perfection may be unattainable for most, striving for a solid credit score can unlock numerous financial benefits.
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