New Delhi, Nov. 8 -- If you are turning 30 without a credit history, then be clear: this is not a disadvantage when you are proceeding to apply for a new loan. Still, for individuals who have never taken a personal loan, a home loan, or used a credit card, or any other form of debt, establishing a credible credit profile can take some planning, time, and responsible financial behaviour.

A credit history is a metric that helps lending institutions analyse and assess how an individual manages borrowed money, repays it on time, and whether they are likely to default in the future. That is why, without a credit history, a lending institution may face challenges in processing a loan request, as it has limited information to crunch to assess t...