Here’s What Happens When Your Credit Score Hits 850

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  Here's your money briefing for Monday, January 13th.

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  I'm JR Whalen for the Wall Street Journal.

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  The average credit score in the U.S. is 717.

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  So what does it take to boost your score to a perfect 850?

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  It's become an everyday obsession for some Americans, including one man who spoke to our reporter, Amani Moise.

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  The first thing that he tried was closing some old, retail credit cards,

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  but that was actually a mistake because when you close old cards you lower your utilization,

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  which could actually decrease your score.

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  The next thing that he did was that he zeroed in on his credit card balances,

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  trying to keep his utilization within a golden range so that he could perfect his score.

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  So what happens when you reach a perfect credit score?

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  And doesn't really matter.

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  Amani will join us to go through the numbers after the break.

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  The credit reporting firm experience says about 1.5% of consumers have a perfect credit score.

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  How much does hitting that milestone really matter?

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  Wall Street Journal reporter Amani Moise checked in with a Texas man about that, and she joins me.

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  Amani, you spoke with Steve Michelle, who achieved a perfect score.

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  Why was that important to him?

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  Well,

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  usually people care about their score when they're about to buy a house or maybe buy a new car so

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