Question

In the wake of the economic recession that started in 2007, FICO is reporting that 15% of consumers, about

43.4 million people, have a credit score of 599 or less. How would you judge this FICO credit score? What does
this score mean in terms of these consumers and obtaining credit?

Answer 1

To answer the above question about how FICO could have judged based on the credit score and what the mark means for customers and gaining credit. The figure provided by FICO is 25% of the buyers, almost 43.4 million people with a score of 599 or less. These brands like loans are awesome. They may also have credit cards, car loans, or mortgages, but using hard loans is hard.

Step-by-step explanation:

Answer 2

To answer the question above as to how would FICO be judged with credit score and what does the score means in terms for the consumers and obtaining credit.. The figures provided by FICO is that 25% of the consumer, nearly 43.4 million people that have a credit score of 599 or below points. They are marked as a poor risk lenders. They can still have credit cards, auto loans or mortgages but with under a tighter lending standards.