As the new year begins, it’s the perfect time to take stock of your financial health, with a sharp focus on credit scores—a critical factor in determining your financial credibility and access to loans, credit cards, and other financial products in India. Your credit score isn’t just a number; it’s a reflection of how you manage debt and a key influencer of your financial future. By revisiting your 2024 credit habits, you can better understand your credit standing and take proactive steps to strengthen it in 2025.
A credit score is a three-digit number that represents your creditworthiness, reflecting the likelihood of timely debt repayment. It offers insight into your financial behavior and ability to manage credit responsibly. “A strong credit score demonstrates reliability and trustworthiness, unlocking opportunities such as loans, credit cards, and favourable interest rates, said Sachin Seth, Regional Managing Director, India and South Asia, CRIF.
A credit score, typically ranging from 300 to 900, reflects your creditworthiness. It is generated by credit bureaus like CIBIL (TransUnion), Experian, Equifax, and CRIF High Mark based on your financial history. A score above 750 is considered excellent and significantly boosts your chances of loan approval.
Content retrieved from: https://www.news18.com/business/savings-and-investments/credit-score-good-range-in-india-9174958.html.
