BANKING AFFAIRS

Detailed explanation-1: -For a score with a range between 300 and 850, a credit score of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent. Most consumers have credit scores that fall between 600 and 750.

Detailed explanation-2: -Your 850 FICO® Score falls in the range of scores, from 800 to 850, that is categorized as Exceptional. Your FICO® Score is well above the average credit score, and you are likely to receive easy approvals when applying for new credit. 21% of all consumers have FICO® Scores in the Exceptional range.

Detailed explanation-3: -CIBIL scores can range anywhere between 300 and 900, with 900 denoting maximum creditworthiness. A CIBIL score of 750 or above in your credit report is ideal. It will aid in qualifying you for personal loans and credit cards.

Detailed explanation-4: -Your score falls within the range of scores, from 300 to 579, considered Very Poor. A 300 FICO® Score is significantly below the average credit score. Many lenders choose not to do business with borrowers whose scores fall in the Very Poor range, on grounds they have unfavorable credit.

Detailed explanation-5: -An 850 credit score is considered the highest score according to the most common FICO and VantageScore credit models. There are several factors that go into determining a credit score, such as payment history, amounts owed, length of credit history, credit inquiries and credit mix.