ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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-2: -Your score falls within the range of scores, from 740 to 799, that is considered Very Good. A 760 FICO® Score is above the average credit score. Consumers in this range may qualify for better interest rates from lenders.

Detailed explanation-3: -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-4: -Experts say that this credit score will likely get you all the same benefits-and the best deals. Only about 1.6% of the 232 million U.S. consumers with a credit score have a perfect 850, according to FICO’s most recent statistics.

Detailed explanation-5: -On-time payments. The best way to get your credit score over 800 comes down to paying your bills on time every month, even if it is making the minimum payment due. Amounts owed. Credit history. Types of accounts and credit activity. 19-Jan-2023