A lot of people have great credit, and it’s a goal that can be easier to achieve than you might have thought, according to this MarketWatch article by Christine Digangi of Credit.com.
People with great credit are sometimes described as the credit elite, but it may not be as difficult to join that group as you think. Roughly 20% of consumers with credit reports at least one of the major credit reporting agencies fall into the top tier of credit scores – scores that are generally higher than 780, on a scale of 300 to 850.
There are about 62 million American consumers with great credit (aka excellent or super prime credit), according to 2015 data from credit bureau TransUnion.
Even the next tier down (aka good or prime credit) includes a lot of people: 17%, or about 51 million, or consumers with credit reports have good credit. That’s a score between 661 and 780 on the VantageScore 3.0 scale. Having good or great credit means you have a better chance of getting approved for a loan or credit card, as well as qualifying products with low interest rates and minimal fees.
