Pay EMIs and credit card dues on time – How to go about improving your credit score in order to better your credit-worthiness | The Economic Times

Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/how-to-go-about-improving-your-credit-score-in-order-to-better-your-credit-worthiness/slideshow/78634188.cms

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What exactly is a credit score

According to a report by ET, an individual’s credit score plays an important role in determining his/her credit worthiness. A lender, such as a bank or a non-banking finance company, will evaluate the credit score of a potential borrower to determine whether or not to lend to the individual. It typically ranges between 300 and 900. This score is prepared by TransUnion CIBIL, one of the four credit bureaus functioning in India (others bureaus include Experian, CRIF High Mark and Equifax). Here are five ways to improve your credit score.