Credit Repair

Why it’s SO HARD to get a Credit Score Above 800


Why it’s SO HARD to get a Credit Score Above 800 – Latest News Today

Hey credit warriors, in this video we are going to talk about why it is so hard to get your credit score above 800 and what you can do to get there. If you like the sound of that please subscribe, it really helps me grow the channel.

So if you don’t know, credit scores range from 300 to 850 and according to the credit bureau Experian, only 20% of Americans have a credit score over 800. And increasing your credit score from 700 to 800 is way harder than going from 600 to 700.

In a minute I’m going to show you a letter from a recent credit check on my credit and give you all the reasons why I am not at 800, but first a little theory. So when you go from 600 to 700 it is mainly these two factors, payment history and amounts owed (also called credit utilization) that are affecting your score in a positive way.

But as you get above 700 each new on time payment that is added to your credit report each month doesn’t have as much effect as before in increasing your score, since you already have so many, credit utilization plays basically the same role as before, but other the other three credit factors start really coming into play.

So length of credit history makes up 15% of your score and what can you do to increase that? Well just wait. But there is a little more to it than that. Here are all the things FICO looks at for credit history:

How long your credit accounts have been established, including the age of your oldest account, the age of your newest account and an average age of all your accounts
How long specific credit accounts have been established
How long it has been since you used certain accounts

So while just waiting will increase the length of each account. We can see in there a little thing called average age of all your accounts, this means if you open a new account it will shorten that average age, so for someone who is playing the credit card game and often getting new cards, this part really becomes a problem.

Then the next factor of credit becomes credit mix which accounts for 10% of your score. This means do you have a mix of credit accounts such as credit cards, mortgages, car loans etc… This helps increase your score especially having a mortgage, because think about how much vetting you have to go through when you apply for a mortgage? Apart from being audited by the IRS, a mortgage application is probably the most rigorous financial vetting the average person will go through in their life. If you don’t have these, don’t worry, you can’t apply for a mortgage just to improve your credit score, you have to actually want to buy a house! But that is one reason why it is so hard for this part of the algorithm to have an affect, because it can only affect people who actually have other types of credit, many people, especially people in their early to mid 20s, just have credit cards and nothing else.

Then the last of these three factors is new credit, it affects 10% of your score and this is basically referring to hard credit inquiries and the new accounts that may come from those inquiries. Hard inquiries will drop your score by a 3 or 4 points each. drop off your account after two years, but FICO only considers the ones in the last 12 months when working out your score. The system also allows for rate shopping, like several hard pulls for a mortgage in a short period of time will only count the same as one inquiry.

So I think this is another area where you will see that for someone playing the credit card game, often opening new cards to get sign up bonuses etc.. It is hard to maintain a good score. It is a lot easier to get to 800 if you just open say 4 or 5 credit cards and then just use them, keeping your utilization low and not hitting your account with new inquiries or shortening your average age of accounts with new cards. Mrs credit shifu kind of does just that. She has maybe 5 cards and only applies for one new card a year. Right now her credit score is very close to 800 on credit karma and at 778 on FICO. She currently only has one credit inquiry on her account. I by contrast have 7, so many, that credit karma gives me a red circle.

Anyway I flashed that letter at you at the start so I know you are eager to hear how bad my credit score is and all the factors that have pushed me down. So here goes. Let’s start with Credit Karma, the most generous algorithm, where my scores are: 747 from transunion and equifax. But now let’s actually take a look at this letter from a construction loan application, its kind of like a mortgage, so its a stricter algorithm. 742 with Experian, 737 with TransUnion and 710 with equifax. So the average of those three is 729.

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Robert Dunfee


  1. Carl Rassi
    July 23, 2021 at 1:57 am

    "Anything over 760 is really just a flex". Sounds like something someone whose credit score is below 760 would say.

  2. swordy fish
    July 23, 2021 at 1:57 am

    It’s so interesting how you and Mrs. Credit Shifu’s scores are so different, would love to see a q&a of how you guys met and etc if you guys are comfortable 🙂

  3. Batman Guzman
    July 23, 2021 at 1:57 am

    I was at 849 last month. But took a hit to purchase a home. I was 2 years away from perfect score. I'm 35 and babied my score for the longest. Daughters are under 4 and have the same score because they're authorized users

  4. Saki630
    July 23, 2021 at 1:57 am

    I was at 800-840 for a year, then it starts to go down under 800. I'm barely using it the whole time. I had my credit pulled for a potential home loan and my credit score was reported higher than I can see it. Then within two weeks my credit score dropped from 790 to 760, and after a month back to 765. Oh well, the banks liked it and i had to block them because they wanted me to buy in the bubble.

  5. Lando CalrisiaN
    July 23, 2021 at 1:57 am

    I would've been shocked if you did have a FICO over 800 bc you have a heap of cards opened in the past few years. Either way your credit is still quite good.

  6. Lando CalrisiaN
    July 23, 2021 at 1:57 am

    Whoa is you a mean score in the 720s🤣🤣. Ok sir.

  7. Les Jean
    July 23, 2021 at 1:57 am

    My credit karma is 807. My FICO is only 753. My FICO was as high as 796. When my old paid off student loan account dropped out of my report, Karma stays the same, FICO dropped more than 50 points. Now the only items on my report are 4 credit cards: I hate installment loans, last year I bought a car for $90k, I just wrote a check no loan. So I stooped in my quest to get into the 800 FICO club. Paying interest on a car that looses value every year is not worth the extra points.

  8. dekonfrost7
    July 23, 2021 at 1:57 am

    I have 30 credit cards i get 2 or 3 cards a year. I never lose average age of accounts. Its always going up. The next thing you need is a heloc that reduces utilization tremendously, but if you need to use it for an investment you need a good amount of card revolving available to offset that use.

  9. Jay Stevenson
    July 23, 2021 at 1:57 am

    I’m 19 with A 762 credit score wanted to finance a car that cost 60,000 how do I go about it?

  10. JPFX
    July 23, 2021 at 1:57 am

    Hello, Can somebody please tell me what is meant by account with balances.
    It is only been couple of months since I started using Credit card. I pays the bill in full after the bill is generated. So I don't get what the balance mean. Is it that, If I have a due of say $150 and I pay $200 and that extra $50 will be added as balance?

  11. RedTach
    July 23, 2021 at 1:57 am

    In the 830s myself…one thing that helps when changing cards around is keeping some cards over a long time. I have a Discover card from 1988 and a Citi Mastercard since 1992…this Mastercard started as an AT&T Universal Card and although that card changed hands over the years it still kept the same age history under Citi. This does help a lot with the average age when going through newer card options.

  12. Karma Karuna
    July 23, 2021 at 1:57 am

    I'll be the first here to admit I'm in the mid 400s. Do I get a cookie for being lowest?

  13. Kevin Fogarty
    July 23, 2021 at 1:57 am

    Does a credit score over 800 help to get a loan for a car? I want a car, and I have a score over 800, but no money to put down on the car 🤣🤣

  14. Julian Herrera
    July 23, 2021 at 1:57 am

    How long does a car loan hard inquiry stay on a credit report?

  15. royland walker
    July 23, 2021 at 1:57 am


  16. Bambi plantz
    July 23, 2021 at 1:57 am

    Oh wow and here i am 34 years old and just now starting my credit journey with a 4. 600, 700, 800. Heck i got years b4 i even see 50. At this rate will i have enough credit to buy a house or a coffin?

  17. Jordan Mcdaniel
    July 23, 2021 at 1:57 am

    It's really not hard. I have only been working on my credit for 5 years and I am at a 816

  18. Divine Light
    July 23, 2021 at 1:57 am

    Wow I knew you from learn chinese now first, how great to see you again Ben!

  19. yourfavpersuasion
    July 23, 2021 at 1:57 am

    Exactly, 800 and up is just for bragging right. I would be happy at 770 /780.

  20. Bruce Grumpy ol'Biker
    July 23, 2021 at 1:57 am

    not hard at all, mine is 815 lol

  21. Khyri Edwards
    July 23, 2021 at 1:57 am

    I’m 24 with a 773… 800 by 30 maybe?

  22. parkerbohnn
    July 23, 2021 at 1:57 am

    I hit 878 with credit Karma, I live in Canada where 900 is a perfect score. I paid cash for everything my entire life cars, houses, cottages and motorcycles.

  23. Justin Williams
    July 23, 2021 at 1:57 am

    830 here and dont even care.

  24. Joe
    July 23, 2021 at 1:57 am

    credit score. great. something ELSE for people to compete with or be worried about. 🙁

  25. HmmmYeahRiiiiiight
    July 23, 2021 at 1:57 am

    Getting a credit score above 800 isn't hard: pay your damn bills on time and don't borrow more than you can pay off. It's not rocket science