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The classic FICO credit score (named FICO credit score) is between 300 and 850, and 59% of people had between 700 and 850, 45% had between 740 and 850, and 1.2% of Americans held the highest FICO score (850) in 2019. [15] According to FICO, the median FICO credit score in 2006 was 723 [16] and 721 in 2015. [17]
At this time, the SAT was standardized so that a test score received by a student in one year could be directly compared to a score received by a student in another year. Test scores ranged from 200 to 800 on each of two test sections (verbal and math) and the same reference group of students was used to standardize the SAT until 1995. [230]
A credit score is primarily based on a credit report, information typically sourced from credit bureaus. Lenders, such as banks and credit card companies, use credit scores to evaluate the potential risk posed by lending money to consumers and to mitigate losses due to bad debt.
Each FICO version weights different aspects of your credit history slightly differently, but all FICO scores are calculated based on the following five factors: Payment history (35%) : Considers ...
Nowadays, credit scores have a number of often invisible effects on our lives. Credit scores (and even more dubious "e-scores" determined by private data mining companies) are often used for hiring purposes because employers believe that credit scores are a reliable way to index a person's level of responsibility.
What is the range of credit scores? Your credit score range is based on the information in your credit history. FICO, the most commonly used credit scoring model, categorizes scores into five ranges: