New Delhi, June 23 -- A credit score is a three-digit number. It is like a financial report card for an individual and reflects the borrower's creditworthiness and trustworthiness. This score is provided by four leading credit bureaus in the country: CRIF High Mark, Experian, Equifax, and TransUnion CIBIL.

Generally, this score ranges from 300 to 900, with credit scores above 750 considered excellent and scores below 600 considered weak. A higher score helps in securing better loan and credit card terms.

This metric has therefore been one of the most critical factors influencing loan approvals. It reflects an individual's credit history, repayment discipline, and the capacity to manage borrowed funds.

Still, with evolving lending pract...