5 Best Low Interest Loan Options for a Personal Loan 850 Credit Score
A credit score of 850 is considered to be excellent. In fact, it is the highest credit score that you can achieve and lenders will often be thrilled to offer you the very best personal loans out there.
Given that you have this excellent credit score, there’s little doubt that you understand the mechanics of credit ratings inside and out. You’ll understand the way that myriad factors can influence your credit score for better or for worse (things like credit utilization rate, late payments, total debt, and more).
What Is the Best Rate for an 850 Credit Score Personal Loan?
You will find that on average, the typical loan lasts for 24-months and comes with an interest rate of around 10.6%. Given that you have an excellent credit score, though, you will find that those terms are very flexible and that you will be able to access lower interest rates. The only way to find out, is to apply for a loan. You will see your rate before accepting.
What Is the Maximum Personal Loan with an 850 Credit Score?
If you have this excellent credit score, you’ll find that lenders are more willing to work with you in terms of flexibility.
The general rule of thumb dictates that a person is allowed to owe up to 200% of their annual pre-tax income. This means that if you make $60,000 a year, you would be able to access $120,000 in financial backing.
This figure will vary greatly, though, according to a host of factors such as your credit score and the lender you’re working with. If you want to find a specific figure, browse our list of recommended lenders.