ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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.

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: -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-4: -Credit scores typically range from 300 to 850. Within that range, scores can usually be placed into one of five categories: poor, fair, good, very good and excellent.

Detailed explanation-5: -Exceptional: 800 to 850. FICO® Scores ranging from 800 to 850 are considered exceptional. Very good: 740 to 799. FICO® Scores in the 740 to 799 range are deemed very good. Good: 670 to 739. FICO® Scores in the range of 670 to 739 are rated good. Fair: 580 to 669. Poor: 300 to 579. 23-Jun-2020