Who Has a 814 Credit Score?

While an 814 credit score is well above the national average for any age demographic, credit scores generally improve over a person's lifetime. Data from 2023 shows a clear upward trend as people get older. Here are the average credit scores by generation:

• Generation Z (ages 18-26): 680
• Millennials (ages 27-42): 690
• Generation X (ages 43-58): 709
• Baby Boomers (ages 59-77): 745
• Silent Generation (ages 78+): 760

Credit Cards With a 814 Credit Score

An 814 credit score is considered excellent, placing you in the top tier of applicants. This means lenders see you as a very low-risk borrower, significantly increasing your chances of approval for virtually any credit card you apply for. You'll likely qualify for premium cards with the best rewards, lowest interest rates, and most attractive sign-up bonuses available.

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Kudos simplifies the search with its Explore Tool, which uses a quiz to understand your financial goals and personalize recommendations. The platform can suggest cards suitable for various credit profiles and financial needs, whether you're looking to build credit or find the best rewards.

Auto Loans and a 814 Credit Score

An 814 credit score is considered excellent, placing you in the top-tier "super-prime" category for lenders, which qualifies you for the lowest interest rates. You will almost certainly be approved for an auto loan and receive the most favorable terms possible.

• Super-prime (781-850): 5.25% for new cars and 7.13% for used cars
• Prime (661-780): 6.87% for new cars and 9.36% for used cars
• Non-prime (601-660): 9.83% for new cars and 13.92% for used cars
• Subprime (501-600): 13.18% for new cars and 18.86% for used cars
• Deep subprime (300-500): 15.77% for new cars and 21.55% for used cars

Mortgages at a 814 Credit Score

An 814 credit score is considered excellent, placing you in a prime position for mortgage approval. This high standing qualifies you for all major loan types, including Conventional, Jumbo, FHA, VA, and USDA loans. Your score comfortably surpasses the minimum requirements, giving you a wide array of options when shopping for a home loan.

Beyond just qualifying, your score significantly improves your loan terms. Lenders see you as a low-risk applicant, which typically results in access to the best interest rates. You can also expect an easier approval process, lower Private Mortgage Insurance (PMI) costs, and even some negotiating power on closing costs or other lender fees.

What's in a Credit Score?

Figuring out what goes into your credit score can feel like trying to solve a complex puzzle, but it's primarily based on a handful of key financial habits. The most common factors include:

• Your payment history tracks whether you have paid past credit accounts on time.
• Credit utilization is the percentage of your available credit that you are currently using.
• The length of your credit history considers the age of your oldest account and the average age of all your accounts.
• Having a healthy mix of credit types, such as credit cards and installment loans, can positively impact your score.
• Recent credit inquiries and newly opened accounts can temporarily lower your score.

How to Improve Your 814 Credit Score

Even with an excellent 814 credit score, there's always room for improving your creditworthiness through consistent, positive financial habits. Taking the right steps can help you maintain and even boost your already strong standing.

• Monitor your credit reports. This ensures that no errors or fraudulent activities are dragging down your score, which is vital for protecting your excellent rating. Catching inaccuracies early helps you maintain the score you've worked hard to achieve.
• Keep your credit utilization low. Aim to keep your credit utilization well below 30%, as this is the second most important factor in your score. For someone with a high score, optimizing this ratio can provide an extra boost and demonstrate responsible credit management to lenders.
• Diversify your credit mix. Lenders like to see that you can responsibly manage different types of credit, such as installment loans and revolving credit. A healthy mix can strengthen your credit profile, which accounts for 10% of your score.
• Limit hard inquiries. While a single hard inquiry has a minimal impact, too many in a short period can temporarily lower your excellent score. Spacing out credit applications helps protect your score from unnecessary dips.

To help manage your cards and maximize your financial health, consider using a tool like Kudos.