How is a credit score affected?

A credit score is primarily affected by your credit behavior and repayment discipline. Key factors influencing your score include:

• Payment History: Timely repayment of loan EMIs and credit card bills is the most critical factor.
• Credit Utilization: Keeping your credit usage below 30% of the available limit helps maintain a healthy score.
• Credit Age: A longer history of managed credit accounts reflects stability.
• Credit Mix: A balanced combination of secured and unsecured loans.
• Inquiries: Frequent hard inquiries for new credit applications can lower your score.