BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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800
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1000
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850
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550
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Detailed explanation-1: -Depending on the type of scoring model, a 900 credit score is possible. While the most common FICO and VantageScore models only go up to 850, the FICO Auto Score and FICO Bankcard Score models range from 250 to 900.
Detailed explanation-2: -Your 850 FICO® Score is nearly perfect and will be seen as a sign of near-flawless credit management. Your likelihood of defaulting on your bills will be considered extremely low, and you can expect lenders to offer you their best deals, including the lowest-available interest rates.
Detailed explanation-3: -1.6% of Americans have a perfect 850 credit score, but here’s the only one that matters, according to experts.
Detailed explanation-4: -The base FICO® Scores range from 300 to 850, and FICO defines the “good” range as 670 to 739. FICO®’s industry-specific credit scores have a different range-250 to 900. However, the middle categories have the same groupings and a “good” industry-specific FICO® Score is still 670 to 739.