Dear RAM,

You don’t identify which scoring system was used, but a score of 773 might get you all the credit you want. However, I do get a little concerned when someone tells me they need credit to “blow a bundle of money.”

Credit scores simply reflect the chances that you will not repay a debt as agreed. Once the score indicates you represent a certain level of risk, getting a higher score doesn’t matter. You will already qualify for the best loan terms. For that reason, getting a “perfect” credit score should not be your goal.

Rather, you should focus on continuing to manage your credit well. When you got your score, you should have received a description of the things from your credit history that are having the most negative impact. Concentrate on changing those issues and your credit scores will get better over time.

You shouldn’t expect substantial improvement when you have a good score that indicates very low risk, though. Any changes you make when you are already a very low lending risk will usually result in only small improvements simply because there is little room to get better.

The closer you get to perfection in anything you do, the harder it is to make gains. I’m not aware of anyone with a perfect credit score for the simple reason that there is always going to be some risk, even if it is extremely small, that you won’t be able to repay the debt as agreed.

Your mention of a fiscal year also makes me wonder if you are asking about business credit. If so, it is an entirely different process. Business credit reports and business credit scores are completely separate from your personal credit report and credit scores.

A business credit report shows the same types of information as a personal credit report, but is specific to a business’ debt repayment and public records such as bankruptcies or tax liens. A business report might also include information about the businesses officers and owners. They are often used in combination with a personal credit report for a small business owner.

Whether for business or personal use, make sure you have a plan to repay that bundle of money after you spend it.

Thanks for asking.