Your credit score is a three-digit number that lenders use to judge how reliably you repay borrowed money. In India, scores range from 300 to 900, and a score above 750 is generally considered excellent.
Several factors influence your score: your repayment history, credit utilisation ratio, the age of your credit accounts, the mix of secured and unsecured loans, and how often you apply for new credit.
The single biggest driver is timely repayment. Paying your EMIs and credit card bills in full and on time, every time, has the largest positive impact on your score over the long run.
Keep your credit utilisation—the portion of your available limit you actually use—below 30%. Avoid applying for multiple loans or cards in a short span, as each hard enquiry can temporarily lower your score.
Check your credit report regularly for errors and dispute any inaccuracies. FinTax99's financial advisors can help you understand your report and build a plan to strengthen your credit profile before a big loan.
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