The highest credit scores you can get on the FICO (Fair Isaac, and Co) is a 850. In order to get the highest credit scores there are a number of things you can do to achieve it. Continue reading to learn more about how you can obtain the highest credit scores.
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Your credit score, or FICO score, can range anywhere from 300 to 850, where 300 is the lowest and 850 is the highest credit scores. In order to get the coveted 850 or anywhere in the 800s, your financial background must be flawless and definitely without errors or negatives. That is the first thing you want to remove if you want to raise your credit score.
Negatives stay on your credit report for 7 years so if you have a negative that is inaccurately reported, you need to dispute that in writing to whatever consumer credit account that is reporting it. To dispute it in writing, you must include documentation, which supports your argument (copies not originals), along with your statement on why you believe the negative to be incorrect. Send it via Certified Mail with a return receipt. The United States Post Office offers this service to send it Certified Mail for relatively cheap.
If you do have a negative on your credit report and it is accurate and caused by something you did, there is nothing you can do but wait for it to be removed. After about 3 to 4 years, the negative will not affect your credit score as much as it did during the first few years. When it hits year seven, it will drop off completely from your credit report. The worst thing you can have on your credit report is a bankruptcy because that will stay on your account for 10 years.
If you do not have any negatives, delinquencies, or late payments on your credit report then you are in good shape. You will have a better chance of increasing your credit score, but you also must be patient.
In order to increase your credit score at this point, you will need to pay your bills on time and do not be late in paying your bills. Time will be on your side and you will continue to grow a credit history that has no late payments. Naturally, your credit score will raise because of this.
The next item you need to do and to watch out for your credit utilization ratio. Do not charge more than 20% of your credit limit on your credit card and always pay your balance in full each month. So if you have a $10,000 credit line, do not charge more than $2,000 a month and be sure to pay off that $2,000 in full each and every month.
Those two factors alone will get you the highest credit scores. Be sure to also not apply for too many credit lines at one time.
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