What is a TransUnion credit score used for?

A TransUnion credit score, commonly known as a CIBIL score in India, is used by banks and financial institutions to evaluate your creditworthiness. It acts as a three-digit summary of your credit history, ranging from 300 to 900. Lenders use this score to assess the risk of lending to you, determining your eligibility for home loans, personal loans, or credit cards. A higher score often leads to faster loan approvals, better interest rates, and higher credit limits, reflecting responsible repayment behavior.