75-84 is a Distinction - people with 75+ WAM in law are generally considered competitive enough to get an interview at a top tier law firm for a summer clerkship.
65 - 74 is a Credit - it's an 'OK' mark and people with a 65+ WAM average are generally considered competitive enough to get into a Big 4 accounting firm (PWC, Deloitte, EY, KPMG).
50-64 is a Pass.