In detail
A credit score range is a defined numerical interval that a credit scoring model uses to express credit risk. Different scoring models may use different ranges. For example, many general-purpose credit scores fall between 300 and 850, while some industry-specific scores use a different scale. Within a given range, scores are often grouped into bands or tiers, such as subprime, near-prime, prime, and super-prime. These bands are conventions, not universal standards, and their exact boundaries can vary by lender, scoring model, and type of credit product. The term "credit score range" also refers to the overall span of possible scores that a model can produce. Lenders and other users of credit scores may refer to a score's range when making decisions about creditworthiness. For instance, a score in a higher range may correspond to a lower perceived risk, which can affect the terms or availability of credit. However, the assignment of scores to ranges is not mandated by federal law. The Fair Credit Reporting Act governs how consumer reporting agencies handle credit information, but it does not set credit score ranges. Consumers have the right to obtain certain credit scores and can see which range a score falls into, though the specific range and its meaning depend on the scoring model used.