A credit score of less than 700 (out of 900) is regarded as poor. It can lead to the rejection of your loan applications or to high interest rates being charged from you. The credit score declines when customers default, make payments after the due date, or make too many loan applications within a short span.
People with poor credit scores face the dilemma that they need to take a loan and make timely repayments to improve their score. But when their score is low, lenders are unwilling to issue them a loan or a credit card.
This story is from the April 2024 edition of Investors India.
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This story is from the April 2024 edition of Investors India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
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