BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
True
|
|
|
False
|
Detailed explanation-1: -A perfect score of 850 will give you bragging rights, but any score of 800 or up is considered exceptional and will give you access to the best rates on credit cards, auto loans, and any other loans.
Detailed explanation-2: -A FICO® Score of 800 is well above the average credit score of 714. It’s nearly as good as credit scores can get, but you still may be able to improve it a bit. More importantly, your score is on the low end of the Exceptional range and fairly close to the Very Good credit score range (740-799).
Detailed explanation-3: -Although both the FICO and VantageScore credit scoring systems go all the way up to 850, you actually don’t need to hit 850 to reap the same benefits as those with a perfect credit score. If you have an 800 FICO score, you have an extremely positive credit history.