ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Your 800 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-2: -Yes, a CIBIL score of 800 is good.

Detailed explanation-3: -Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.

Detailed explanation-4: -Having an 800 credit score means you’ve done everything possible to prove your creditworthiness. You likely have a lengthy credit history, and you’ve made all your payments on time. You only use a small percentage of your total available credit, and you have a good mix of credit.

Detailed explanation-5: -The oldest active account for those with 800-plus scores averages nearly 22 years. That’s a significant drop from 2021, when the oldest active account was more than 27 years on average.