3 Habits of Americans With a Perfect 850 Credit Score

Nobody's perfect, so the saying goes. But when it comes to credit scores, a small but mighty group of Americans are as close as it gets.

As of the third quarter of 2023, roughly 1.54% of U.S. consumers had a FICO® Score of 850, according to Experian data. Since FICO® Scores range from 300 to 850, that represents a perfect score.

Achieving a perfect credit score is no small feat -- it's a rare accomplishment for anyone. But the data shows that some habits may give you a better shot at perfection. While numerous factors go into determining your credit score, the following three habits tend to pop up among consumers with perfect scores.

1. They have several credit cards

If you thought having several credit cards would damage your credit score, the data might make you reconsider.

The average consumer with an 850 credit score had 5.8 credit cards, according to Experian data. In comparison, the average number of credit cards for all consumers was 3.9 cards per person.

To be fair, the number of credit cards itself likely doesn't affect your credit score, as if 5.8 cards is the golden ratio (how do you get 0.8 cards?). Rather, as I'll explain below, more credit cards likely increases your overall credit limits and therefore decreases your credit utilization, which makes up 35% of your credit score.

But if you've been concerned about getting a new credit card because you think it might damage your score, this data might reassure you. Carrying several credit cards at once is fine, as long as you can keep track of them, pay them off, and benefit from their rewards. If you've been holding out on opening a new credit card, give our curated list of the best cards a quick peek.

2. A perfect payment record

The average consumer has 1.5 delinquent accounts on their credit history. Consumers with perfect credit, however, have zero late payments.

A payment is considered "late" when it's at least 30 days past due. It can devastate your credit score. In fact, missing just one payment by 30 days or more could drop a good credit score by 100 points or more. Although the exact damage will depend on how late your payment is and what your credit score was before the late payment, having one can make it difficult to build credit thereafter.

One way to help consumers make payments on time is using a credit card with a 0% promotional rate. These cards typically give you 12 to 21 months to pay your account in full before the interest rate kicks in. If you can pay off the card's balance before the promotional period, you won't pay a cent of interest.

3. Low credit utilization ratio

Consumers with perfect credit scores have two things going for them: They typically have a low credit card balance and (therefore) a low credit utilization ratio. In concrete numbers, those with perfect credit scores have an average $3,028 balance and use 4% of their total credit limits.

A credit utilization ratio is a measure of your credit card balances and credit limits. For instance, if you have two credit cards with a total of $14,000 in credit limits between them, then a balance of $7,000 would make your credit utilization 50%.

The lower your credit utilization, the more you'll help your credit score. While some people tout the 30% rule -- that is, you shouldn't carry a balance greater than 30% of your total credit limit -- I would suggest aiming for 10% or lower. If you can get your credit utilization down to 4%, you would be in the company of perfect credit scores.

To be sure, having a perfect credit score doesn't grant you privileges that other consumers can't get. In fact, a credit score of 670 to 700 is typically all you need to satisfy the credit score requirement on most credit cards. Rather than trying to get a perfect score, focus on paying your credit card bills on time, keeping your credit utilization ratio low, and using credit cards that pay rewards on your everyday spending.

A perfect credit score is a consequence of good credit habits. Do these things and you might one day become a member of the 850 club.