what does credit score mean

A credit score, often known as a CIBIL score in India, is a three-digit number, typically ranging from 300 to 900, that represents your creditworthiness and financial reliability. Banks and lenders use this score as a vital tool to evaluate the risk of lending money to you. A higher score, such as 750 or above, signals responsible credit behaviour and significantly improves your chances of getting faster loan approvals and securing lower interest rates on credit cards and loans.