Highest Credit Score

The highest credit score that can be achieved by an individual is the FICO standard of 850. This score is the perfect score and any individual, scoring such a note, hardly faces any kind of problem while applying for a loan to any financial organization. The maximum credit score that a person can possibly achieve ranges from 720 to 850.

In order to avail the benefits of possessing an exceptionally good credit record one has to intend in scoring the highest credit score. If the score is more than 700, the individual is considered to have a clean and fair past and can possibly be allowed to avail a loan without any problem.

FICO is the Fair Isaac Corporation which is known to formulate the ways to calculate the credit score. Each and every financial transaction record is maintained and formulated by FICO to generate the highest credit score of an individual. The following briefly suggests how one can possibly get the best credit score.

Initially a credit score should be obtained at least once a year from one of the major consumer credit information companies, such as TransUnion, Experian or Equifax. Nowadays free credit score check from the Government ensures an individual to determine the highest credit score free of any cost.
The next step to achieve the maximum credit score is to look for any inaccurate information in the credit score. Mistakes often occur between the credit records of two persons having the same name. So it is very important to look carefully for any disputes in the credit score.
The following step to earn the highest credit score is to find out the reason for inaccurate entries in the credit record. If any suspicion regarding identity theft arises, the police are to be notified immediately. The identity of a person can be badly utilized for some fraudulent financial purpose. Thus in order to achieve an excellent credit score the menace of identity theft should be taken care of.
The highest credit score can only be achieved if the debts are cleared on time. If disputes are identified in one’s record, the credit record is supposed to rise. The recent records should be well maintained and debts, if any, should be started paying off as this would immensely affect upon one’s credit score increment.
In order to maintain the highest credit score it is strongly recommended not to shut down a credit account. Even if one decides to pay off the loan taken, it is absolutely not a good idea to shut down the account. This is because maintaining lower percentage increments the credit scores, whereas on the other hand, closing an account decreases the score instantly.
The worst credit score being 350, an individual should tend to the maximum credit score. The highest credit score holders generally belong to a range between 700 and 850. Repeated updating the credit records would not only fetch individual accurate information, but will also roll credit record points to an excellent credit score.