New Delhi, Nov. 20 -- A healthy credit score has become essential in the country, especially with lending institutions tightening underwriting and loan disbursal norms. Banks are now increasingly relying on the credit score and creditworthiness of borrowers as provided by prominent credit bureaus.

Still, borrowers regularly see their credit scores drop without realising the reasons behind the dip. Here are six major factors that can contribute to the decline of your credit score and harm your credit profile. As a prudent borrower, you must keep these factors in mind to ensure that borrowing continues to remain a pleasant experience.

Payment history is the most important and the single largest constituent of one's credit score. Even a on...