Data Analysis on FICO Scores.

Your FICO has Changed !!!

Data Analysis is not about complexing the things but to simplify it and try to infer as much info as possible.

A FICO score is a credit score created by the Fair Isaac Corporation (FICO). Lenders use borrowers’ FICO scores along with other details on borrowers’ credit reports to assess credit risk and determine whether to extend credit.

FICO Score is a three-digit number based on the information in your credit reports. It helps lenders determine how likely you are to repay a loan.

This, in turn, affects how much you can borrow, how many months you have to repay, and how much it will cost (the interest rate).

In general, many lenders find scores above 670 as indicating good creditworthiness.

Typically, the higher your score, the lower the risk and the more likely creditors are to lend to you.

There are general score ranges recognized by creditors to help them make lending decisions.

These ranges can also serve as goals for you to achieve.

The scores can be categorized as below:

• Poor → (300,580)
• Fair → (580,670)
• Good → (670,740)
• Very Good → (740,800)
• Excellent → (800,850)