what's a credit score

A credit score, commonly referred to as a CIBIL score in India, is a three-digit number typically ranging from 300 to 900. It is a numerical measure of your creditworthiness and financial health, calculated based on your past borrowing and repayment history. Lenders use this score to assess the risk before approving loans, credit cards, and determining the interest rates you will be offered. A higher score, generally 750 and above, signals responsible credit behaviour and increases your chances of approval.