Your credit score is a three-digit number from a credit bureau. It sums up how you have handled credit so far: loans, credit cards and repayments.
Why it matters
Lenders look at your score when you apply for a personal loan. It can affect whether you are offered a loan and on what terms. Each lender sets its own rules.
What shapes your score
- Paying EMIs and card bills on time, every time.
- How much of your credit limit you use.
- How many loans or cards you have applied for recently.
- How long you have had credit.
Looking after it
- Set reminders or auto-pay so you never miss a due date.
- Apply only for credit you need.
- Check your credit report and ask the bureau to fix any mistakes.