A tier 1 credit score is the highest level of creditworthiness—it signifies that you have excellent credit and are a low risk borrower.
CIBIL score - 1 means that no information about the borrower's credit history whatsoever. There is no information to report, hence this score is also known as “NH” or “no history”.
The main difference between them is the amount of data they provide. Level 1 data includes basic information about a transaction, such as the amount, card number, and expiration date. Level 2 data includes additional information, such as the tax amount, merchant's postal code, and customer code.
Here is a breakdown of the credit tiers: Tier 1: 800 – 850. Tier 2: 799 – 670. Tier 3 Credit Score: 669 – 300.
However, they must be gained at the level of the certificate or above. For example, Level 2 credits will count towards endorsement of a Level 1 NCEA, but Level 1 credits will not count towards endorsement of a Level 2 NCEA.
Credit value
One credit represents ten national hours of learning. For example, a unit with a credit value of 1 indicates a notional learning time of 10 hours, a 2 credit unit indicates a notional learning time of 20 hours and so on.
Level 3 credit card processing is used in B2B and B2G transactions to help larger businesses save on processing rates and fees. By collecting and providing an additional set of transactional data, this top level of processing offers significantly lower interchange rates for Visa and Mastercard transactions.
Short-term Issue Credit Ratings.
The scale runs from A-1 to D. An A-1 rating may be designated with a plus sign (+) to indicate that the issuer's commitment to meet its obligation is extremely strong.
'1' – shows where a payment has been made late or missed entirely. '2' – shows two consecutive missed payments or 'arrears' '3' – is three months' arrears. '4' – four months' arrears.
The -1 score status on your account means that Experian, our partner credit bureau, hasn't got enough information to give you a score. The Experian scoring system we're showing you is the most comprehensive. It means that if you don't have enough data in your credit file it won't give you a score.
There isn't a set credit score that each person starts out with. Instead, if you don't have any credit history, you likely don't have a score at all.
A CIBIL score 1 means that there is no retrievable information about your borrowing behavior. It is also known as NH, or 'No History'. No credit history, no recent loan or credit card application, and no direct credit exposure can lead to this.
TYPICALLY, Tier 1 is like above 700 or so, Tier 2 is about 575-700, Tier 3 is like sub-575. It's basically akin to Poor, Fair, Good, Great, and Excellent credit, only condensed to 3 categories instead of 5, and it also varies depending on the lender.
Making on-time payments to creditors, keeping your credit utilization low, having a long credit history, maintaining a good mix of credit types, and occasionally applying for new credit lines are the factors that can get you into the 800 credit score club.
Level 2 – GCSE at grades 9 to 4 (A* to C), or intermediate apprenticeships. Note that a full Level 2 qualification is considered to be the equivalent of 5 GCSEs (including English and Maths) at grades 9 to 4 (A* to C), rather than single qualifications. Level 3 – Advanced apprenticeships, T levels, A Levels.
If your goal is to get or maintain a good credit score, two to three credit card accounts, in addition to other types of credit, are generally recommended. This combination may help you improve your credit mix. Lenders and creditors like to see a wide variety of credit types on your credit report.
Level 1 includes standard transaction data, such as, date, card number, and total order amount. Level 2 includes Level 1 data plus enhanced transaction data, such as customer reference number, invoice number, and sales tax amount. Level 3 includes Level 2 data plus line item details.
In such situations, Tier 1 is the top level, typically referring to a credit score of at least 700, or sometimes a minimum score as high as 750. Basically, this tier encompasses borrowers with the best credit scores.
NCEA Level 1 currently requires learners to achieve at least 80 credits at Level 1 or above. This includes the literacy and numeracy requirements of the qualification.
Level 2 (13-120 credits) = GCSE level (grades A*-C, or 9-4), Level 2 Cert/Diploma = Good Knowledge & Skills. Level 3 (13-180 credits) = AS, A level, Level 3 Cert/Diploma = Apply of Knowledge & Skills. Level 4 (13-120 credits) = Year 1 of Bachelor's Degree, Level 4 Cert/Diploma = Analysis of Knowledge & Skills.
While older models of credit scores used to go as high as 900, you can no longer achieve a 900 credit score. The highest score you can receive today is 850. Anything above 800 is considered an excellent credit score.