If you want to get loans and credit cards with the best terms, you need to have a good credit score. But what exactly is a “good” score? Is 842 a good score? We’ll look at credit scores in more detail and explain what an 842 credit score means.
What is a Credit Score?
A credit score is a three-digit number that tells lenders how creditworthy you are. What goes into it is based on what’s in your credit report, like how much you owe, how long you’ve had credit, any new credit you have, and the types of credit you have.
Credit scores range from 300 to 850. Credit scores show how risky a person is to lenders. People with higher scores are seen as more creditworthy and tend to get better rates on credit.
There are several ways to score credit, but the FICO score is the one that is most often used. FICO scores range from 300 to 850. Other models like VantageScore also use a 300-850 scale.
FICO Credit Score Ranges
FICO divides credit scores into the following ranges
- 800-850: Exceptional
- 740-799: Very Good
- 670-739: Good
- 580-669: Fair
- 300-579: Poor
In general, you want your score to be over 700 to be considered as having “good credit.” A score of 800 or higher is considered “excellent.”
Is 842 a Good Credit Score?
Yes, a credit score of 842 is an exceptionally good score!
A FICO score of 842 falls in the “exceptional” credit range of 800-850. Less than 1% of people have credit scores in this top tier range.
Some key facts about an 842 credit score:
-
It is near the top of FICO’s scoring range, just 8 points shy of a perfect 850 score.
-
842 is well above the average FICO score of 716.
-
It is considered “exceptional” credit, putting you in the top credit score tier.
-
An 842 FICO score qualifies you for the very best credit card and loan terms.
-
Lenders view borrowers with 842 scores as posing almost zero risk.
-
Your chances of approval for new credit are extremely high with this score.
-
You’ll have access to top-tier credit card rewards and benefits.
-
An 842 score makes you eligible for the lowest interest rates from lenders.
What Does an 842 Credit Score Get You?
A credit score of 842 unlocks the most favorable loan terms and gives you excellent approval odds. Here are some of the key benefits of having an 842 credit score:
-
Low Interest Rates: You’ll qualify for the very lowest rates on mortgages, auto loans, and other credit products. Lenders view you as an ultra-low credit risk.
-
High Credit Limits: With an 842 score, you can qualify for high credit limits on credit cards, meaning you can maintain low credit utilization. This helps protect your credit.
-
Premium Credit Cards: An 842 score makes you eligible for premium travel rewards cards with lucrative ongoing benefits like airline lounge access, statement credits, and bonus points on spending.
-
Easier Approvals: Your near-perfect 842 credit score means quick, hassle-free approval for new credit cards and loans. Lenders will want your business due to your low-risk profile.
-
Special Offers: Exceptional credit often makes you eligible for special low introductory interest rates and balance transfer offers from card issuers trying to recruit top-tier borrowers.
-
Lower Insurance Rates: Insurers use credit-based insurance scores, so an 842 score can qualify you for lower rates on auto, home, and life insurance in many states.
Your 842 credit score signals to lenders that you are an ultra-low credit risk who reliably pays bills on time and keeps balances low. You’ll be rewarded with the very best loan terms and borrowing privileges.
How to Get an 842 Credit Score
Building up an exceptional 842 credit score takes diligent effort over time. Here are some tips to improve your credit and reach an 842 score:
-
Pay all bills on time. Payment history has the biggest impact on your scores. Set up autopay if needed to avoid late payments.
-
Keep credit utilization low, ideally below 10%. High balances relative to limits hurt scores.
-
Limit hard inquiries from new credit applications. Too many can negatively impact scores temporarily.
-
Have credit history spanning years. The length of your credit history also factors in.
-
Maintain a mix of credit types like revolving (credit cards) and installment (car loans).
-
Correct any errors on your credit reports. Mistakes can incorrectly lower your scores.
-
Sign up for credit monitoring to track your scores monthly. This helps catch issues.
With diligent credit management over time, you can achieve and maintain an 842 credit score. Be patient, as it takes years to build a long, positive credit history.
Is an 850 Credit Score Better than 842?
An 850 is the highest credit score possible, so one might assume it’s better than an 842. But in reality, once you’re in the “exceptional” credit range, small differences in scores don’t matter much.
Here’s why an 850 score isn’t necessarily better than an 842:
-
Lenders don’t differentiate between an 842 and 850 score. You’ll get the same excellent approval odds and interest rates.
-
Achieving a perfect 850 score is extremely difficult. Only 1% of people have scores over 840.
-
An 850 score won’t save you any money over an 842 score on loans or insurance rates.
-
At these high scores, even one late payment can drop your score 30+ points. An 850 is hard to maintain long-term.
Unless you enjoy the bragging rights of a perfect score, an 842 credit score provides all the same benefits as a perfect 850 score in terms of qualifying for credit and favorable rates. It takes extraordinary credit management to reach 850. If you have an 842 score, be proud! You’re in rarefied air when it comes to credit scores.
A FICO credit score of 842 is considered exceptional by credit standards. It demonstrates a long history of perfect credit management including on-time payments, low balances, and wise use of credit. An 842 score qualifies you for the very best rates from lenders and elite credit card benefits reserved for VIP borrowers. It also signals your ultra-low risk profile to lenders. While achieving a perfect 850 is possible, it provides minimal practical benefit over an 842 score. If you have an 842 credit score, you can feel confident in your ability to secure new credit and get the most favorable loan terms available.
Best for long 0% APR intro period
Receive a 0% intro APR for 21 months on balance transfers and for 12 months on purchases from date of account opening.Credit score
Good to Excellent670–850Regular APR
18.24% – 28.99% variableAnnual fee
See rates and fees. Terms apply. Read our Citi Simplicity® Card review.
Information about the Citi Simplicity® Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.
The Citi Simplicity® Card may not earn rewards, but it can still save you money due to its amazing intro-APR offers.
There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
If you have fair or average credit, consider a card that has lower credit score requirements, like the Capital One QuicksilverOne Cash Rewards Credit Card.
Limited to FairNone–670Regular APR
Terms apply. Read our Capital One QuicksilverOne Cash Rewards Credit Card review.
The Capital One QuicksilverOne Cash Rewards Credit Card available to those with limited/fair credit, which makes it surprising that it features an elevated 1.5% cash back on all purchases.
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Selects editorial staff.
- Earn unlimited 1.5% cash back on every purchase, every day
- No rotating categories or limits to how much you can earn, and cash back doesnt expire for the life of the account. Its that simple
- Be automatically considered for a higher credit line in as little as 6 months
- Enjoy peace of mind with $0 Fraud Liability so that you wont be responsible for unauthorized charges
- Help strengthen your credit for the future with responsible card use
- Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where youll get Capital Ones best prices on thousands of trip options. Terms apply
- Monitor your credit score with CreditWise from Capital One. Its free for everyone
- Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and youre all set
- $0 at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you
Compare credit repair options
Despite the common misconception, checking your credit report wont 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 youre 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.
-
Cost
Free
-
Average credit score increase
13 points, though results vary
-
Credit report affected
Experian®
-
Credit scoring model used
Results will vary. See website for details.
How to sign up for Experian Boost:
- Connect the bank account(s) you use to pay your bills
- Choose and verify the positive payment data you want added to your Experian credit file
- Receive an updated FICO® Score
Learn more about eligible payments and how Experian Boost works.
What is a GOOD Credit Score in 2025? What’s the Average Credit Score Overall & By Age / Generation?
FAQ
Is 842 a good credit score?
Credit Rating: 842 is an excellent credit score, which is even better than a good score. You can even classify an 842 credit score as being perfect. Borrowing Options: All borrowing options are available, and the terms are likely to be very attractive. For example, you should be able to qualify for the best credit cards and the best personal loans.
What does a FICO® score of 842 mean?
Your 842 FICO® Score is nearly perfect and is considered a sign of near-flawless credit management. Lenders view your likelihood of defaulting on bills as extremely low, and they typically offer their best deals, including the lowest-available interest rates, to individuals with such a score.
What is the average utilization rate for a credit score of 842?
The average utilization rate for consumers with a credit score of 842 is 5. 8%. To determine how to improve your credit score, check your FICO®Score and the report that comes with it, which uses specific information from your credit report to explain why your score isn’t higher.
How rare is 842 credit score?
Your 842 FICO® ScoreΘ falls in the range of scores, from 800 to 850, that is categorized as Exceptional. Your FICO® Score is well above the average credit score, and you are likely to receive easy approvals when applying for new credit. 21% of all consumers have FICO® Scores in the Exceptional range.
Has anyone gotten an 850 credit score?
Despite achieving an 850 score, Michell found that it had little impact on his financial life, as interest rates and insurance costs remained unchanged. Jan 4, 2025.
How rare is a 900 credit score?
A credit score of 900 is not possible in the United States, as the maximum score on standard FICO and VantageScore models is 850. However, an 850 score is exceptionally rare, with only about 1. 3% of Americans achieving it.
What is a realistically good credit score?
People with credit scores between 300 and 850 have good credit. Scores between 670 and 739 are bad. Credit scores of 740 and above are very good while 800 and higher are excellent. For credit scores that range from 300 to 850, a credit score in the mid to high 600s or above is generally considered good.