The range of credit scores typically varies between 300 and 850. However, the specific range can depend on the credit scoring model used. Different models, such as FICO and VantageScore, may have slightly different ranges and criteria for scoring credit.
Yes, that is correct. The FICO credit score, which is commonly used by lenders, has a range of 300 to 850. A higher credit score indicates better creditworthiness, while a lower credit score suggests higher risk to lenders. It's important to note that each lender may have its own criteria for evaluating credit scores and determining loan approval.