Finally joined the 800+ credit score club. What now?

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13SaintTiger

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None that I know of...if you find some, then make sure to post them

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Not a damn thing outside you'll be able to find cheaper financing whenever you want to buy something.

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That's a pretty big deal. Not sure if you're being sarcastic
A 250k home financed at 4% over 30 years will cost you 430k, same home financed at 4.5% will cost 456k. That's a 26k difference.
And you can take it a step further, if you invest the difference in payment every month, that adds up to 71k given a 6% return.
In other words...

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Any perks to enjoy that I haven’t already been accustomed to?

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Nope, unless you want to buy something big or apply for credit cards

Nope. Once you hit 740 you get the best perks they have.

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Selling my house pushed my credit score from 776 to 801. Any perks to enjoy that I haven’t already been accustomed to?

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You need to get to 802 for the good stuff.

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Pretty sure it doesn't work that way for mortgages.

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It absoluteyl does

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You either get approved for one at the current rate or you don't.

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Most companies do 'preferred' rate bands with standard levels 700+ at/around 700/720/740+ . It usually is the difference in about 10-25 bps i I remember correctly


PMI rate on your home is based on credit score as well. I know 700/720/760+ are the bands for those

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I got the lowest available rate.

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Then your lender was pretty garbage

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Any perks

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Free bottle of water when you check in at a participating Hilton.

No toll to ride the escalators at DFW and Atlanta airports.

Complimentary ketchup at Chick-Fil-A.

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It absoluteyl does

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In terms of rate, no it doesn't.

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Most companies do 'preferred' rate bands with standard levels 700+ at/around 700/720/740+ . It usually is the difference in about 10-25 bps i I remember correctly

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Most companies have the perk of more streamlined processes for getting the loan approved above a 720. That's about it.

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PMI rate on your home is based on credit score as well. I know 700/720/760+ are the bands for those

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There is probably some truth to this, but there are a number of programs that don't require it at all (USDA for example) and it seems to vary lender to lender.

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Then your lender was pretty garbage

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Over the years, I've done this with SunTrust (twice), Bank of America (who is terrible, btw), Brand Bank, and a couple of brokerages. Always the same across the board. My mom bought just before passed away (literally closed three weeks prior) and, with limited credit after her divorce from my dad years ago and a sub 700 score, she got 3.75 on a 30-year note (best rate available at that moment). Few years later, over 750 with a lot more history, and we got a 3.75 on a 30-year note (same deal, best rate available). Couple that bought mom's house last month....early 20s, not much credit history and scores around 650-680 for both....yeah, 3.75 for 30 years.

You can do a little research and know what the best rates are when you first call to discuss a mortgage. It's not hard to know what you should be looking for. The only time the rate generally changes is through buy-downs or if you're using a specialized program for 100% financing, interest only, constuction/renovation, etc.

If you are applying for an executive position at a major company, they will run your credit, and a credit score this high indicates that you are someone that values taking care of your personal business effectively. An equally qualified candidate with a middling credit score is going to lose out against yours.