QuestionWhat credit rating corresponds to a score of 780? Options: (A) very good, (B) fair, (C) good.
Studdy Solution
STEP 1
Assumptions1. The credit score is780. We are using the FICO credit score range, which is the most commonly used credit scoring model. The FICO score ranges are as follows - Exceptional800-850 - Very Good740-799 - Good670-739 - Fair580-669 - Poor300-579
STEP 2
Now, we need to determine which range the given credit score of780 falls into.
STEP 3
Looking at the FICO score ranges, we see that a score of780 falls into the "Very Good" range (740-799).
So, a credit score of780 represents a "Very Good" credit rating.
Was this helpful?
