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: -While the industry-specific FICO Auto and FICO Bankcard Scores are judged on scales that run from 250 to 900, the base FICO Scores have a smaller range of 300 to 850. The higher numbers always indicate a lower credit risk.

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: -FICO scores range from 300 to 850, with 850 considered a perfect score. The higher your score, the better your odds of being approved for loans and lines of credit at the most favorable interest rates. Individuals can have more than one FICO score. The multiple FICO score versions in use today include:3.

Detailed explanation-5: -FICO scores can range anywhere from 300 to 850. The average score was 714, as of 2021. The few people who do manage to achieve perfect credit scores tend to share three key traits, according to Experian’s latest analysis.