FICO is the scoring model most lenders use to check an applicant’s creditworthiness. A perfect FICO credit score is 850, but experts tell CNBC Select you don’t need to hit that target to qualify for the best credit cards, loans or interest rates.

“If you’re at 760, or 780, you’re already getting the best you can get,” Jim Droske, president of the credit counseling company Illinois Credit Services, said. “You’re already hitting that pinnacle of what lenders care about. Anything above that is just pride.”

In fact, according to the most recent survey from FICO, taken in April 2023, only about 1.7% of the scoreable U.S. population had a perfect 850.

Here’s why a 760 credit score is the one to aim for, what it can get you and how to find out what your FICO score is.

It might be exciting to aim for 850, the highest possible FICO score, but it really comes with no additional benefits. According to credit expert John Ulzheimer, a 760 will get you the best mortgage rate and a 720 score is all you need for the best interest rate for an auto loan.

“I always tell people, shoot for 760 or better,” Ulzheimer told CNBC Select. “That way, they’re safe for all loan types and cards.”

Even FICO says not to stress about perfection

“From the standpoint of qualifying for credit, it doesn’t matter whether you have a perfect 850 or a score just below that,” said Ethan Dornhelm, VP of FICO Scores and predictive analytics. “To lenders, a consumer with a score in the 800s is a sparkling applicant.”

Despite the common misconception, checking your credit report won’t hurt your credit score. Many banks and credit card issuers will provide customers with their current FICO score for free.

Experian CreditWorks is a paid credit-monitoring service that includes your FICO score, as well as identity protection and credit reports from Experian, Equifax and TransUnion.

If you’re looking to raise your score, an easy way to do it quickly is with *Experian Boost™. This free service links monthly bills for things like cell phone, gas and streaming services to your Experian credit report and gives you credit for on-time payments.

According to Experian, members whose scores improved saw an average increase of 13 points.

You don’t need a perfect 850 credit score to qualify for the best mortgages, loans or credit cards. A 760 will typically get you the same rate, terms and rewards.

At CNBC Select, we work with experts who have specialized knowledge and authority based on relevant training and/or experience. For this story, we interviewed financial expert John Ulzheimer, formerly of FICO and Equifax, Jim Droske, president of the credit counseling company Illinois Credit Services, and Ethan Dornhelm, VP of FICO Scores and predictive analytics.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every personal finance article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit monitoring and credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.

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*Results may vary. Some may not see improved scores or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost.