Credit scores typically range from 300 to 850.
Within that range, scores can usually be placed into one of five categories: poor, fair, good, very good and excellent..
Lenders may also use your credit score to set the interest rates and other terms for any credit they offer.
Credit scores typically range from 300 to 850.
Within that range, scores can usually be placed into one of five categories: poor, fair, good, very good and excellent..
The Credit Risk Grading (CRG) is a collective definition based on the pre-specified scale and reflects the underlying credit-risk for a given exposure.
A Credit Risk Grading deploys a number/ alphabet/ symbol as a primary summary indicator of risks associated with a credit exposure..
The score models can be divided into three major types: FICO, VantageScore and other credit scores..
Credit risk refers the likelihood that a lender will lose money if it extends credit to a borrower.
Any given borrower may be judged to be of low risk, high risk, or somewhere in between.
Lenders attempt to identify, measure, and mitigate these risks through credit risk management..
Tier 2 Credit: Considered a very good credit score, scores ranging from 740 – 799.
Tier 3 Credit: Considered good credit with scores typically ranging from 670 – 739.
Tier 4 Credit: Considered fair or poor credit, with scores that can range from 580 – 300..
Credit risk refers the likelihood that a lender will lose money if it extends credit to a borrower.
Any given borrower may be judged to be of low risk, high risk, or somewhere in between.
Lenders attempt to identify, measure, and mitigate these risks through credit risk management..
