809 credit score: A guide to credit scores

Quick insights

• An 809 credit score is considered “excellent” by VantageScore^® and “exceptional” by FICO^®, placing it among their highest credit scoring ranges.
• Timely bill-paying, low credit utilization, mature credit history and a solid credit mix can help you reach an 809 credit score and maintain it.
• To avoid losing an “excellent” score, it’s important to monitor your credit report and report potential inaccuracies to the credit bureaus.

If you have an 809 credit score, it's possible that you have some know-how when it comes to managing credit responsibly. With a score in the 800s, you’re in the top range for both credit scoring models, VantageScore and FICO. Those with a high credit score are more likely to have financial opportunities available to them, including better chances of approval for credit cards and lower rates on loans. In this article, we’ll describe both credit scoring systems in more detail and describe ways you can help maintain and improve your credit score.

Is 809 a “good” credit score?

Credit scores are used by lenders to help determine if a person is “creditworthy,” or how likely they are to repay debts. There are several different factors that go into this score, including (but not limited to) payment history, credit utilization and credit mix. VantageScore and FICO are two credit scoring models used to calculate credit scores. While their criteria and ranges are similar, there are slight differences.

The ranges for VantageScore are:

• Excellent: 781 to 850
• Good: 661 to 780
• Fair: 601 to 660
• Poor: 500 to 600
• Very poor: 300 to 499

The ranges for FICO are:

• Exceptional: 800+
• Very good: 740 to 799
• Good: 670 to 739
• Fair: 580 to 669
• Poor: 579 and below

As the ranges show, a credit score of 809 falls in VantageScore’s “excellent” range and FICO’s “exceptional” range. Official scoring terminology aside, someone with an 809 credit score may be more likely to receive approvals and low rates for credit products than someone with a lower score.

Opportunities with an 809 credit score

Having a high credit score can open the door to certain kinds of opportunities, such as:

• Increased odds of approval: With an 809 credit score, you’re more likely to be approved for a new credit card or loan than someone with a lower score. Some landlords also perform credit checks on potential tenants, which means a high score can also help you get approved for future rentals.
• Better terms and interest rates: When shopping for loans (such as a mortgage or personal installment loan), a higher credit score is likely to improve the interest rates and loan terms you’re presented with. For example, you may be offered a lower annual percentage rate (APR) when applying for a credit card or loan.
• Potential access to premium credit cards: Some credit cards have more features than others; an 809 credit score can help you get approved for cards with higher credit limits or more robust rewards programs.

Maintaining an 809 credit score

If you have a high credit score, you may have a firm handle on bill-paying and responsible credit use. These are some of the practices that help build one’s credit, and the same ones you’ll need to continue to maintain it:

• Pay bills on time: Making timely payments is one of the most important factors in generating your credit score. Missing a single bill can cause your credit to dip. To avoid missing payments accidentally, you may even want to consider turning on auto pay.
• Maintain your accounts: Closing older accounts can shorten the length of your credit history. While this may be necessary from time to time, keeping older accounts in your credit profile open and active is one way to help maintain your score.
• Avoid excessive credit applications: Applying for new lines of credit typically involves a hard credit check. A hard credit check can have a temporary negative impact on your credit score although generally only by a few points. However, several hard credit checks in a short period may lower your score more significantly. 
• Monitor your credit for changes: Checking your credit score regularly can help you detect changes, including those caused by errors. If a suspicious mark appears on your credit report, it’s important to report it to the bureaus to avoid further damage to your credit.
• Freeze your credit if you suspect fraud: If you believe you’ve been the victim of identity theft, you can request to freeze your credit with the three credit bureaus. You may want to consider enrolling in identity monitoring alerts, such as those provided by Chase Credit Journey^®.

Free credit monitoring

Monitoring your credit for changes is important, and it can be helpful to use a tool that makes the habit easier. Credit Journey^® is an online tool that allows you to access your credit score for free, anytime, with no impact to your score. You also have the option to sign up for credit monitoring alerts. You don’t have to be a Chase customer to enroll in Credit Journey.

Improving an 809 credit score

If you want to take additional steps to help improve your 809 credit score, a few options to consider include:

• Keeping credit utilization low: Using less than your maximum allowable credit can help improve your score. As a general rule of thumb, this means using 30% or less of your available credit. For example, on a credit card with a $10,000 limit, having a remaining balance of $2000 would follow that rule.
• Having a diversified credit portfolio: Your credit mix refers to the variety of types of credit you use. Someone who responsibly manages multiple forms of credit—such as keeping an auto loan, a credit card and a mortgage in good standing—may see a positive impact on their score.
• Asking for credit increases: After a period of time with a new credit card, you may want to consider requesting a credit limit increase. Some card issuers provide increases automatically. For others, you may want to reach out directly to make your request. Having a higher credit limit can contribute to lowering your utilization as your total available credit will increase.

In summary

An 809 credit score is considered “excellent” by some scoring models and can help improve the odds of approval for credit cards, loans and rentals. It can take consistent effort with your financial habits to reach this score, and continued work to keep it and improve.