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FICO, the most commonly used method of calculating credit scores, generates scores that range from a low of 300 to a perfect 850. As of 2023, only 1.54% of U.S. consumers had perfect credit, according to Experian.

If your credit score is close to 850, you may want to reach that elusive perfect score. But perfect credit can be pretty hard to achieve. And it’s not worth stressing over for these reasons.

1. Your credit score almost doesn’t matter above a certain point

Experian says that credit scores from 800 to 850 are considered exceptional. And what this means is that you’re likely to get approved for a loan or great credit cards like these whether your credit score is an 802, 820, or 850.

Now that said, you may run into issues with loan approval based on factors outside of your credit score, like income. If you’re applying for a $500,000 mortgage and earn $50,000 a year, a lender may deny you — but not on the basis of your credit score. There’s little point in pushing yourself to achieve perfect credit when a modest increase in your score may not change your borrowing picture.

2. Applying for a mortgage and building equity in a home could improve your finances more than a perfect 850

Did you know that applying for a new loan will typically cause your credit score to drop by a few points? Indeed, each time you put in a loan application, there’s a hard inquiry on your credit report that typically drags your credit score down by a handful of points.

But what this means is that if you want perfect credit, you can’t apply for any new loans for a while, including a mortgage. And that’s not necessarily a wise financial decision if you can afford to buy a home.

If you apply for a mortgage, you can build equity in a home whose value increases over time. You shouldn’t deny yourself that opportunity because you don’t want the tiny hit to your credit score that prevents you from reaching 850.

3. Applying for credit cards with a welcome offer could put cash in your pocket

Just as applying for a new loan will cause your credit score to drop by a small amount, so too will applying for a new credit card. But if you’re able to get approved for a new credit card with a generous sign-up bonus, the extra cash or bonus miles could do your finances more good than a perfect 850 credit score.

Say you’re close to having an 850, but you apply for a credit card that takes your score of 847 down to 844. Chances are, you’ll get the same loan rates whether you apply with an 844 or 847.

But if you claim a credit card welcome offer that pays you $300, that’s real money that can benefit you. So it pays to forgo perfect credit in this scenario to pocket the cash.

And if you’re wondering how to score a sweet welcome offer, click here for a list of the best credit card sign-up bonuses.

Having perfect credit may give you some bragging rights — but that’s about it. If it’s been a struggle to get your credit score up to a perfect 850, don’t keep torturing yourself. Instead, work on improving your credit as best as you can, or on maintaining the great credit score you already have.

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