Home Credit inquiry Why I’ll Probably Never Have Perfect Credit Again – And That’s That’s Okay

Why I’ll Probably Never Have Perfect Credit Again – And That’s That’s Okay

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It’s a very hard thing to get – and not worth pursuing.


Key points

  • In my twenties, I managed to have a perfect credit score.
  • I don’t see this happening again due to changes in my drinking habits, but that’s not a problem either.

When I applied for my first apartment in my 20s, I was shocked – in a good way – to learn that I actually had perfect credit (or so the rep said management company that processed and approved my application). These days, however, my credit rating isn’t perfect, and it may never be again. And frankly, I don’t care.

How I got perfect credit

Back when my credit score was perfect at 850, I had a few advantages. First, I had bills in my name for several years that I had never paid late. I also hadn’t applied for new credit cards in a long time and always paid off my (relatively low) credit card balances in full. This latest decision has helped me keep my credit utilization rate nice and low.

Also, of the two credit cards I had, one was my parent’s card on which I was an authorized user. To be clear, I did not charge this card – I was added to my parent’s account for emergency purposes only. But since their account had been open for many years, it gave me a longer credit history.

All of this combined led to me having a perfect credit score. But things are different now.

Different Spending Causes Credit Score Fluctuations

These days, I have very good credit. My score tends to hover around 800-820, which any lender is likely to consider favorably. But I only have 850 left, and for several reasons.

First of all, I recently received some serious inquiries on my credit report due to new credit card applications. Each of them lowered my credit rating by about five to ten points.

I also tend to charge more on my credit cards now than I did in my twenties. It’s because I have more expenses these days. And although I try to pay off my credit cards every month to avoid interest charges, during that brief period of time until my bills are paid, my credit utilization rate tends to go up. up a notch (not to the point where it hurts my credit, but enough that it prevents me from having perfect credit).

It’s not serious

While it was cool to learn years ago that my credit score was perfect, I don’t mind that it’s not the case anymore. First of all, perfect credit is really hard to get. Something as innocent as applying for a mortgage refinance will cause your credit score to not be perfect for several months due to the extensive investigation of your credit report. But in some cases, refinancing a home loan can be a smart move, and not worth putting off to avoid a little credit crunch.

Plus, no matter what type of loan or credit card you apply for, once your credit score is in the 800s, it’s likely to be viewed favorably. And so if my credit score is currently 812, guess what? I don’t need it to be higher. I’m unlikely to have a different borrowing experience with an 812 versus an 832 versus an 850.

That’s not to say that I don’t like to keep an eye on my credit rating. But I gave up on having perfect credit, and I’m totally at peace with that.

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