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Credit Score - Types, Importance & Benefits

How does a Credit Score work?

How is your Score Calculated?

What to know about Credit Scores in India?

What is a Good Credit Score?

 

Different credit bureaus use different scoring models while calculating credit scores, so yours may vary based on which credit bureau furnishes your credit report. In general, credit score ranges are as follows:

300-579

Poor

580-669

Fair

670-739

Good

740-799

Very good

800-850

Excellent

A credit score above 700-750 is generally considered good.

However, every lending institution has their own risk grading. For example, one bank may consider a score above 700 to be good, while another bank may prefer a score above 750. In general, a score of 750 to 800 should be considered good in most situations.

Why do you need a Good Credit Score?

How to check your Credit Score?

How to improve your Credit Score?