ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Your score falls within the range of scores, from 580 to 669, considered Fair. A 593 FICO® Score is below the average credit score. Some lenders see consumers with scores in the Fair range as having unfavorable credit, and may decline their credit applications.

Detailed explanation-2: -What is classed as a bad credit score? When it comes to your Experian Credit Score, 561–720 is classed as Poor and 0–560 is considered Very Poor. Though remember, your credit score isn’t fixed. If your score isn’t where you’d like it to be, there’s plenty you can do to get it back into shape.

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: -Your score falls within the range of scores, from 300 to 579, considered Very Poor. A 536 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-5: -“Poor” score range identified based on 2021 Credit Karma data. Most credit scores range from 300 to 850, and lenders tend to look at scores in the 500 to 600 range as less than ideal.