 TITLE: What Is a Perfect Credit Score? CONTENT: Benefits of Perfect Credit\n--------------------------\nA perfect credit score is an admirable (if lofty) goal and one that's achievable with lots of dedication and patience. But as a practical matter, lenders consider any exceptional FICO® Score—that's a score of 800 or greater on the 300 to 850 scale—a mark of excellent credit. Achieving a score in that range is likely to give you the same advantages as a perfect score, including:\n*   **Access to a wide range of loan products.** If you have an exceptional FICO® Score, you'll likely find lenders competing for your business, with attractive loan and credit card offers. You'll also probably have multiple low-interest options when applying for a car loan or mortgage.\n*   **Higher borrowing limits.** With an exceptional credit score, you can expect new credit card offers to include generous spending limits, and you should feel comfortable asking the lenders you have accounts with to increase your limits as necessary. Higher limits make larger purchases possible, and also mean you can carry larger short-term balances without exceeding the 30% usage rate experts warn can hurt your credit score.\n*   **Excellent rate shopping.** It's always smart to apply to multiple lenders when seeking credit to be sure you get the lowest interest rates and fees you qualify for, but it's especially advantageous when you have an exceptional credit score because lenders will likely extend you the best deals they offer. One percentage point less on a mortgage loan can save you tens of thousands of dollars over the life of the loan, so that can mean major savings.\n*   **The most rewarding credit cards.** In addition to credit cards with rates and fees, an exceptional FICO® Score can help you qualify for cards with cash back offers, travel points and other types of incentives and bonuses. Card issuers reserve their most appealing offers for borrowers with top-notch credit, and these cards can help you save big on air travel, lodging, car rentals and purchases at your favorite retailers, and more.\n*   **Insurance discounts.** Some auto insurance companies factor in credit scores when determining monthly premiums. You can't be denied coverage based on a low credit score, but an exceptional score could help you save on premiums.\n*   **More housing options.** Landlords often use credit scores to screen tenants and gauge their financial trustworthiness. An exceptional credit score could increase your chances of getting into a house or apartment and spare you from having to pay a higher security deposit.\n*   **Security deposit savings.** If you are a new customer, a utility company may look at your credit report to get a sense of how likely you are to pay your bills on time. An exceptional credit score reduces your odds of needing to pay a security deposit when you sign up for service. END