Credit score, Sept. 23 -- When raising a loan from a bank, non-banking financial company or fintech app, borrowers need to show lenders that their creditworthiness is robust. Creditworthiness is measured by a three-digit number, which is also known as the credit score.

A person's credit score is crucial as it reflects their financial activities and behaviour. These include personal loans, car loans, home loans, credit cards, payment of credit card bills, skipping payments, maxing out a card, and others.

Before understanding the significance of a healthy credit score, let us take a look at its key advantages:

I. Loans on convenient terms: When your credit score is high, you can easily obtain a loan on convenient terms, such as a low pro...